Duplex with Month-to-Month
For Sale
$894,900
Pending
128 SW 3rd Avenue, Delray Beach, FL 33444
Residential Income, Delray Beach, FL
Property Size2,400 SF
Lot Size0.16 Acres
Days on Market232
Property Features for 128 SW 3rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM(cit
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 1, Bedroom 2
Subdivision
DELRAY BEACH
Directions
I-95 TOATLANTIC BLVD., EAST TO PROPERTY.
Standard status
Pending
APN
12434617070380130
Size
2,400 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
RESUB OF S 1/2 OF BLK 38 & N 1/2 OF BLK 39~ DELRAY BCH LT 13 BLK 38
Tax Annual Amount
8984
Legal Description
RESUB OF S 1/2 OF BLK 38 & N 1/2 OF BLK 39~ DELRAY BCH LT 13 BLK 38
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1990
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
CBS
Roof type
Composition
Listing Agency:
Highlight Realty Corp
(561) 641-6787
Listed By:
Kuljon Pierre · License #3541989
(561) 662-8301
Added: Feb 18
Changed: Sep 12
Last Checked: Oct 8 at 7:06AM
MLS# R11165334
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,400-square-foot duplex, built in 1990, contains two residential units with a three-bedroom, two-bathroom layout in each. The building uses CBS construction, ceramic tile flooring, central heating, central air conditioning, and a composition roof. Public water and public sewer serve the property, with cable available.
The property is located at 128 SW 3rd Avenue in Delray Beach, within Palm Beach County. Its 0.16-acre parcel is near beaches and stores. Both units are currently occupied, and the tenancies are month to month.
The property is located at 128 SW 3rd Avenue in Delray Beach, within Palm Beach County. Its 0.16-acre parcel is near beaches and stores. Both units are currently occupied, and the tenancies are month to month.
Key Highlights
- 2,400 square feet on a 0.16‑acre parcel
- Two units, each with 3 bedrooms and 2 bathrooms
- Current tenants occupy both units on a month‑to‑month basis
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,008
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$800,160
$800.2K
Cap Rate 7%
$571,543
$571.5K
Cap Rate 9%
$444,533
$444.5K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$60.5K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$57.2K $23.81/SF
− OpEx
−$17.1K −$7.14/SF
NOI
$40.0K $16.67/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$800,160
Cap Rate 7%
$571,543
Cap Rate 9%
$444,533
Alternative Uses
Best Use
Multifamily LT 5
$571.5K
$500.1K – $666.8K
NOI $40,008 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$527.3K
$461.4K – $615.2K
NOI $36,910 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,315 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 33444, FL
22,671
Population
10,469
Households
2.2
Avg Household Size
41
Median Age
33%
College-Educated
84%
High-School Grad
5.0 sq mi
ZIP Area
4,534
Density / Sq Mi
$74,803
Median Household Income
$37,915
Median Earnings
$1,712
Median Rent
$425,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms and two bathrooms, with current occupants leasing on a month-to-month basis.
Where is this duplex located?
The property is located at 128 SW 3rd Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $894,900.
What are key features of this property?
This property features: 2,400 square feet on a 0.16‑acre parcel; Two units, each with 3 bedrooms and 2 bathrooms; Current tenants occupy both units on a month‑to‑month basis
