Renovated Duplex with Fenced
For Sale
$584,688
1015 S K Street, Lake Worth, FL 33460
The front unit is furnished, while the rear unit offers converted garage and storage space.
Property Size1,160 SF
Days on Market73
Property Features for 1015 S K Street
General Information
Standard status
Active
Size
1,160 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,824
Building Details
Building Size
1,160 SF
Year Built
1953
Buildings
2
Listing Agency:
United Realty Group, Inc
(561) 654-4663
Listed By:
Jackie Allen PA · License #3003701
(561) 654-4663
Source:
Meyerlucas
Added: Jun 1
Changed: Aug 10
Last Checked: Aug 12 at 2:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of United Realty Group, Inc
Investment Insights
Based on property information with market context.
Built in 1953, this duplex includes separate front and rear units with substantial interior updates. The rear unit features a 27 x 12 converted garage and storage area, along with a fully fenced outdoor space. Its renovation included ceramic flooring, appliances, a kitchen, bathroom, and wall-mounted AC unit. The front unit was also updated with ceramic flooring, a new kitchen and appliances, a new bathroom, and a new AC unit. It remains fully furnished and may suit an AirBNB use as described in the property information.
The entire house and converted garage underwent fumigation on 4/28/26, with a stated two-year warranty. The property offers a combination of refreshed interiors, furnished accommodations, and additional enclosed storage.
The entire house and converted garage underwent fumigation on 4/28/26, with a stated two-year warranty. The property offers a combination of refreshed interiors, furnished accommodations, and additional enclosed storage.
Key Highlights
- Duplex built in 1953 with renovated front and rear units
- Rear unit includes a 27 x 12 converted garage and storage area
- Fully fenced rear 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
$19,337
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
3.31%
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%
$386,740
$386.7K
Cap Rate 7%
$276,243
$276.2K
Cap Rate 9%
$214,856
$214.9K
Market Conditions
NOI Build-Up for 1,160 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
$29.2K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$27.6K $23.81/SF
− OpEx
−$8.3K −$7.14/SF
NOI
$19.3K $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%
$386,740
Cap Rate 7%
$276,243
Cap Rate 9%
$214,856
Alternative Uses
Best Use
Multifamily LT 5
$276.2K
$241.7K – $322.3K
NOI $19,337 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$254.9K
$223.0K – $297.3K
NOI $17,840 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$816.9K
$714.8K – $953.1K
NOI $57,186 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Explore this area
Business Placement
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
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 - The front unit is furnished, while the rear unit offers converted garage and storage space.
Where is this duplex located?
The property is located at 1015 S K Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $584,688.
What are key features of this property?
This property features: Duplex built in 1953 with renovated front and rear units; Rear unit includes a 27 x 12 converted garage and storage area; Fully fenced rear outdoor space
