Fully Rented Duplex with
For Sale
$575,000
2907 Apalachee Road, Palm Springs, FL 33406
MULTI_FAMILY - Palm Springs, FL
Property Size1,690 SF
Lot Size0.23 Acres
Price / SF$340.24
Days on Market323
Property Features for 2907 Apalachee Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM(cit
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Window features
Blinds
Patio and Porch features
Patio
Fencing
Fenced
Subdivision
MEADOW PARK
Lot features
Room for Pool
Elementary school
Meadow Park
Middle school
Conniston Community
High school
Forest Hill
Directions
From I-95, exit onto Forest Hill Blvd. and head west. Continue until you reach Congress Ave., then turn left (south). Follow Congress Ave. and make a right turn onto Apalachee Road. Will be on left
Standard status
Active
APN
70434408160000150
Size
1,690 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
MEADOW PARK REPLAT LOT 15
Tax Annual Amount
7791
Legal Description
MEADOW PARK REPLAT LOT 15
Utilities
Utilities
Cable Available
Heating system
Electric (Heating), Central
Cooling system
Central Air, Ceiling Fan(s), Electric
Water source
Public
Building Details
Year built
1974
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Frame, Wood Siding
Roof type
Composition
Listing Agency:
Compass Florida LLC
(561) 285-4283
Listed By:
Blake B Rayner · License #3438544
(561) 252-2208
Added: Oct 7, 2025
Changed: Aug 5
Last Checked: Aug 25 at 12:06PM
MLS# R11130150
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 fully rented duplex features two tenants in place and a layout built around comfortable indoor and outdoor living. The home includes a patio and fenced outdoor space, with split private backyards designed to add tenant privacy. Interiors include vinyl flooring, electric heating, central air conditioning, and ceiling fans.
Built in 1974, the property has frame construction with wood siding and a composition roof. The home is served by public water, with cable available, and it includes central heating and central air as well as electric cooling.
Set on a 0.23-acre lot with 1,690 SF of building area, this duplex offers room for parking and the option to expand if desired.
Built in 1974, the property has frame construction with wood siding and a composition roof. The home is served by public water, with cable available, and it includes central heating and central air as well as electric cooling.
Set on a 0.23-acre lot with 1,690 SF of building area, this duplex offers room for parking and the option to expand if desired.
Key Highlights
- 0.23‑acre lot with 1,690 SF duplex building area
- Fully rented duplex with two tenants in place
- Split private backyards and patio with fenced outdoor space
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
$28,172
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
4.90%
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%
$563,440
$563.4K
Cap Rate 7%
$402,457
$402.5K
Cap Rate 9%
$313,022
$313.0K
Market Conditions
NOI Build-Up for 1,690 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
$42.6K $25.20/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$40.2K $23.81/SF
− OpEx
−$12.1K −$7.14/SF
NOI
$28.2K $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%
$563,440
Cap Rate 7%
$402,457
Cap Rate 9%
$313,022
Alternative Uses
Best Use
Multifamily LT 5
$402.5K
$352.2K – $469.5K
NOI $28,172 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$371.3K
$324.9K – $433.2K
NOI $25,991 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,313 @ 7.0% cap · market cap 14.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,523
Businesses Nearby
Explore this area
Business Placement
Demographics for 33406, FL
27,663
Population
9,426
Households
2.9
Avg Household Size
39
Median Age
24%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
3,180
Density / Sq Mi
$79,696
Median Household Income
$37,453
Median Earnings
$1,677
Median Rent
$358,300
Median Home Value
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 - Fully rented duplex with two tenants in place, patio areas, and fenced outdoor space in Palm Springs.
Where is this duplex located?
The property is located at 2907 Apalachee Road Palm Springs, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 0.23‑acre lot with 1,690 SF duplex building area; Fully rented duplex with two tenants in place; Split private backyards and patio with fenced outdoor space
