Concrete-Block Duplex with
New
For Sale
$569,900
1020 S K Street, Lake Worth, FL 33460
Updated rear unit, separate water metering, private outdoor areas, and on-site driveway parking support efficient duplex operations.
Property Size1,600 SF
Days on Market3
Property Features for 1020 S K Street
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Duplex
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$52,800
Taxes and HOA fees
Annual Taxes
$9,188
Amenities
fully fenced
washer/dryer hookup in storage shed
Building Details
Building Size
1,600 SF
Year Built
1955
Buildings
1
Construction
concrete-block
Tenancy
Multi
Listing Agency:
Realty One Group Innovation
Listed By:
Richard Vidot · License #3481925
(561) 702-5541
Source:
Meyerlucas
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 20 at 2:25PM
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 Realty One Group Innovation
Investment Insights
Based on property information with market context.
This 1955 concrete-block duplex includes two separately configured residences within a fully fenced property. The front unit offers 1 bed / 1 bath, a private front porch, and driveway parking. The rear unit provides 3 beds / 1 bath, two exterior doors, and access to a large backyard. Recent work includes a kitchen and bathroom update in the rear residence, along with exterior painting of the building, driveway, and walkways.
Both residences are occupied on month-to-month arrangements. A separate second water meter allows each tenant to pay their own water utilities. The property also includes a storage shed with washer/dryer hookups, and the roof is approximately Six years old. The location provides access to US 1, downtown, restaurants, shops, and the Lake Worth Beach Pier.
Both residences are occupied on month-to-month arrangements. A separate second water meter allows each tenant to pay their own water utilities. The property also includes a storage shed with washer/dryer hookups, and the roof is approximately Six years old. The location provides access to US 1, downtown, restaurants, shops, and the Lake Worth Beach Pier.
Key Highlights
- Two‑unit property with 1 bed / 1 bath front residence and 3 beds / 1 bath rear residence
- Concrete‑block construction with fully fenced grounds
- Rear unit kitchen and bathroom recently updated
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
$26,672
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
4.68%
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%
$533,440
$533.4K
Cap Rate 7%
$381,029
$381.0K
Cap Rate 9%
$296,356
$296.4K
Market Conditions
NOI Build-Up for 1,600 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
$40.3K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$38.1K $23.81/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.7K $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%
$533,440
Cap Rate 7%
$381,029
Cap Rate 9%
$296,356
Alternative Uses
Best Use
Multifamily LT 5
$381.0K
$333.4K – $444.5K
NOI $26,672 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$351.5K
$307.6K – $410.1K
NOI $24,607 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$1.13M
$986.0K – $1.31M
NOI $78,877 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
735
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
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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?
Duplex - Updated rear unit, separate water metering, private outdoor areas, and on-site driveway parking support efficient duplex operations.
Where is this duplex located?
The property is located at 1020 S K Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: Two‑unit property with 1 bed / 1 bath front residence and 3 beds / 1 bath rear residence; Concrete‑block construction with fully fenced grounds; Rear unit kitchen and bathroom recently updated
