Versatile Duplex
New
For Sale
$490,000
633 Franklin Road, West Palm Beach, FL 33405
Residential Income, West Palm Beach, FL
Property Size1,704 SF
Lot Size0.19 Acres
Price / SF$287.56
Days on Market6
Property Features for 633 Franklin Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SF7 (city)
Bedrooms
9
Full bathrooms
2
Rooms
Bedroom 9, Bedroom 8, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 7, Bathroom 1, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 3
Pets allowed
Yes, No
Exterior features
Barbecue, Storage
Fencing
Gate, Fenced
Subdivision
HILLSIDE PARK
View
City
Elementary school
Palmetto (Palm Beach)
Middle school
Conniston Community
High school
Forest Hill
Directions
Lake N of Forest Hll to Franklin E to property
Standard status
Active
APN
74434409040003990
Size
1,704 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HILLSIDE PARK LTS 399 THRU 401
Tax Annual Amount
7090
Legal Description
HILLSIDE PARK LTS 399 THRU 401
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
open patio
fully fenced yard
impact windows
two A/C units
Building Details
Year built
1925
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic, Carpet, Tile, Wood
Building materials
Stucco
Roof type
Flat, Shingle
Additional Structures
Storage, Outbuilding
Listing Agency:
The Keyes Company
(561) 750-1000
Listed By:
Scott Pressman PA · License #3131178
(561) 601-7774
Added: Aug 24
Changed: Aug 25
Last Checked: Aug 29 at 11:06PM
MLS# B26067667
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.
Built in 1925, this 1,704-square-foot residential property is classified as a duplex and arranged with two separate entrances, two kitchens, and two living rooms. The six-bedroom, two-bathroom layout can function as one larger home or support separate household arrangements. Interior finishes include ceramic tile, additional tile, carpet, and wood flooring, while two A/C units provide cooling. Impact windows, an open patio, storage, a gated fenced yard, and no HOA fees add to the property’s physical features and flexibility.
The property is located at 633 Franklin Road in West Palm Beach, near Downtown West Palm Beach, major highways, restaurants, shopping, and entertainment. It occupies a 0.19-acre lot and carries SF7 city zoning. Public water and public sewer serve the property, with cable available. Exterior construction is stucco, and the roof includes flat and shingle sections.
The property is located at 633 Franklin Road in West Palm Beach, near Downtown West Palm Beach, major highways, restaurants, shopping, and entertainment. It occupies a 0.19-acre lot and carries SF7 city zoning. Public water and public sewer serve the property, with cable available. Exterior construction is stucco, and the roof includes flat and shingle sections.
Key Highlights
- 1,704‑square‑foot duplex property built in 1925
- Six bedrooms, two bathrooms, two kitchens, and two living rooms
- Two separate entrances support flexible household arrangements
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
$31,888
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
6.51%
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%
$637,760
$637.8K
Cap Rate 7%
$455,543
$455.5K
Cap Rate 9%
$354,311
$354.3K
Market Conditions
NOI Build-Up for 1,704 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
$48.1K $28.20/SF
− Vacancy
−$2.5K −$1.47/SF
EGI
$45.6K $26.73/SF
− OpEx
−$13.7K −$8.02/SF
NOI
$31.9K $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%
$637,760
Cap Rate 7%
$455,543
Cap Rate 9%
$354,311
Alternative Uses
Best Use
Multifamily LT 5
$455.5K
$398.6K – $531.5K
NOI $31,888 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$423.7K
$370.7K – $494.3K
NOI $29,657 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,004 @ 7.0% cap · market cap 17.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
971
Businesses Nearby
Explore this area
Business Placement
Demographics for 33405, FL
19,369
Population
9,557
Households
2
Avg Household Size
41
Median Age
34%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
4,304
Density / Sq Mi
$82,945
Median Household Income
$46,450
Median Earnings
$1,432
Median Rent
$401,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two entrances, kitchens, and living rooms support flexible occupancy in a fenced residential property with no HOA fees.
Where is this duplex located?
The property is located at 633 Franklin Road West Palm Beach, FL.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 1,704‑square‑foot duplex property built in 1925; Six bedrooms, two bathrooms, two kitchens, and two living rooms; Two separate entrances support flexible household arrangements
