Updated
For Sale
$750,000
4381 Purdy Ln, West Palm Beach, FL 33406
Residential Income, West Palm Beach, FL
Property Size2,904 SF
Price / SF$258.26
Days on Market225
Property Features for 4381 Purdy Ln
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
RM
Bedrooms
7
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 6, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 4, Bathroom 1
Parking
6
Subdivision
ACACIA VILLA
Lot features
< 1/4 Acre
Standard status
Active
APN
00424413010040231
Size
2,904 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
ACACIA VILLA W 70 FT OF LT 23 BLK 4
Tax Annual Amount
5480
Legal Description
ACACIA VILLA W 70 FT OF LT 23 BLK 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s), Ceiling Fan(s)
Building Details
Year built
1963
Floors in Building
1
Flooring type
Tile - Ceramic, Laminate
Building materials
Brick
Roof type
Shingle
Listing Agency:
Florida Brokers Real Estate
(954) 640-9111
Listed By:
Guillermo Gori · License #3329430
(954) 305-2618
Added: Feb 18
Changed: Sep 15
Last Checked: Oct 1 at 5:06PM
MLS# A11967277
Copyright © 2026 Miami REALTORS®. 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 2,904-square-foot triplex contains three residential units with independent layouts. The property was built in 1963 and features brick construction, updated kitchens, modernized bathrooms, laminate and ceramic tile flooring, and a shingle roof. Heating and cooling include central systems, window or wall units, ceiling fans, and central air. All three units are currently rented, providing existing occupancy for an income-producing residential asset.
Located at 4381 Purdy Ln in West Palm Beach, the property includes ample parking and no HOA. Public sewer service is in place, and cable is available. The parcel is within Palm Beach County and carries a 33406 postal code.
Located at 4381 Purdy Ln in West Palm Beach, the property includes ample parking and no HOA. Public sewer service is in place, and cable is available. The parcel is within Palm Beach County and carries a 33406 postal code.
Key Highlights
- 2,904‑square‑foot triplex with 3 residential units
- All 3 units are rented
- Updated kitchens and modern bathrooms
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
$54,344
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
7.25%
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%
$1,086,880
$1.1M
Cap Rate 7%
$776,343
$776.3K
Cap Rate 9%
$603,822
$603.8K
Market Conditions
NOI Build-Up for 2,904 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
$81.9K $28.20/SF
− Vacancy
−$4.3K −$1.47/SF
EGI
$77.6K $26.73/SF
− OpEx
−$23.3K −$8.02/SF
NOI
$54.3K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /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%
$1,086,880
Cap Rate 7%
$776,343
Cap Rate 9%
$603,822
Alternative Uses
Best Use
Multifamily LT 5
$776.3K
$679.3K – $905.7K
NOI $54,344 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$722.0K
$631.8K – $842.4K
NOI $50,543 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,161 @ 7.0% cap · market cap 19.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,018
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
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residences offer separate layouts, updated kitchens and bathrooms, and on-site parking without HOA restrictions.
Where is this triplex located?
The property is located at 4381 Purdy Ln West Palm Beach, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,904‑square‑foot triplex with 3 residential units; All 3 units are rented; Updated kitchens and modern bathrooms
