Residential Duplex with
New
For Sale
$450,000
227 W 16TH Street, Riviera Beach, FL 33404
Residential Income, Riviera Beach, FL
Property Size1,286 SF
Lot Size0.19 Acres
Price / SF$349.92
Days on Market3
Property Features for 227 W 16TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-6 (city)
Bedrooms
5
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 3
Window features
Blinds
Patio and Porch features
Porch
Pets allowed
Number Limit, Size Limit, Yes
Exterior features
Courtyard
Fencing
Chain Link, Gate
Subdivision
BLUE HERON PARK 4
Lot features
Corner Lot
Elementary school
Lincoln
Middle school
John F. Kennedy (Palm Beach)
High school
William T. Dwyer
Standard status
Active
APN
56434228080020031
Size
1,286 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BLUE HERON PARK PL 4 N 68.5 FT OF LT 3 BLK 2
Tax Annual Amount
4968
Legal Description
BLUE HERON PARK PL 4 N 68.5 FT OF LT 3 BLK 2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), ENERGY STAR Qualified Equipment, Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
Purple Cow Realty LLC
(561) 632-9673
Listed By:
Holli Gabler · License #3583103
(954) 295-6907
Added: Sep 25
Last Checked: Sep 27 at 2:06PM
MLS# B26080483
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 residential property comprises a 1,286-square-foot main house and a separate 500-square-foot cottage with two bedrooms. Built in 1953, the buildings feature block construction, laminate flooring, and window-unit cooling. Exterior features include a courtyard, porch, and gated chain-link fencing.
The 0.19-acre parcel is zoned RS-6 by the city and has public water and sewer service. Cable is available.
The 0.19-acre parcel is zoned RS-6 by the city and has public water and sewer service. Cable is available.
Key Highlights
- 1,286‑square‑foot main house and separate 500‑square‑foot cottage
- Cottage has 2 bedrooms
- 0.19‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,437
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$428,740
$428.7K
Cap Rate 7%
$306,243
$306.2K
Cap Rate 9%
$238,189
$238.2K
Market Conditions
NOI Build-Up for 1,286 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.4K $25.20/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$30.6K $23.81/SF
− OpEx
−$9.2K −$7.14/SF
NOI
$21.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$428,740
Cap Rate 7%
$306,243
Cap Rate 9%
$238,189
Alternative Uses
Best Use
Multifamily LT 5
$306.2K
$268.0K – $357.3K
NOI $21,437 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$282.5K
$247.2K – $329.6K
NOI $19,778 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$905.7K
$792.5K – $1.06M
NOI $63,397 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
818
Businesses Nearby
Explore this area
Business Placement
Demographics for 33404, FL
31,869
Population
15,990
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
87%
High-School Grad
7.3 sq mi
ZIP Area
4,366
Density / Sq Mi
$60,225
Median Household Income
$35,521
Median Earnings
$1,507
Median Rent
$305,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The property includes separate main-house and cottage structures on a 0.19-acre parcel.
Where is this duplex located?
The property is located at 227 W 16TH Street Riviera Beach, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,286‑square‑foot main house and separate 500‑square‑foot cottage; Cottage has 2 bedrooms; 0.19‑acre parcel
