Updated Duplex with Separate
New
For Sale
$569,900
1020 S K Street, Lake Worth, FL 33460
Residential Income, Lake Worth Beach, FL
Property Size1,600 SF
Lot Size0.15 Acres
Price / SF$356.19
Days on Market3
Property Features for 1020 S K Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RESIDENTIAL
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1
Pets allowed
Yes, No
Exterior features
Garden, Storage
Fencing
Perimeter, Chain Link
Subdivision
LAKE WORTH TOWN OF ADD 1
Lot features
Room for Pool, Sidewalks
Elementary school
South Grade
Middle school
Lake Worth
High school
Lake Worth
Directions
Take US 1 to 10th Ave N go east then make a right (south) on S K Street. Proceed to 1020 S K Street.
Standard status
Active
APN
38434427010360040
Size
1,600 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
ADD 1 TO TOWN OF LAKE WORTH LT 4 BLK 36
Tax Annual Amount
9188
Legal Description
ADD 1 TO TOWN OF LAKE WORTH LT 4 BLK 36
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
fully fenced
private front porch
large backyard
washer/dryer hookup
driveway parking
Building Details
Year built
1955
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
CBS, Concrete, Concrete Block - No Stucco
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Realty One Group Innovation
(561) 501-0055
Listed By:
Richard Vidot · License #3481925
(561) 702-5541
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 20 at 4:06PM
MLS# B26077721
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 1,600-square-foot duplex includes two residential units within a fully fenced, concrete-block building. The front residence has 1 bedroom, 1 bathroom, a private porch, and dedicated driveway parking. The rear residence provides 3 bedrooms, 1 bathroom, two exterior entrances, and access to a large backyard. Recent improvements include a renovated kitchen and bathroom in the rear unit, fresh exterior paint, and updated driveway and walkway surfaces. A second water meter allows each unit to be billed separately for water service. The property also includes a storage shed with washer and dryer hookups, ceramic tile flooring, public water and sewer, and a shingle roof approximately 6 years old.
The 0.15-acre property is near US 1, downtown Lake Worth Beach, restaurants, shops, and the Lake Worth Beach Pier. Both units are occupied on month-to-month terms.
The 0.15-acre property is near US 1, downtown Lake Worth Beach, restaurants, shops, and the Lake Worth Beach Pier. Both units are occupied on month-to-month terms.
Key Highlights
- Two‑unit duplex totaling 1,600 square feet
- Front unit: 1 bed/1 bath with private porch and driveway parking
- Rear unit: 3 beds/1 bath with two exterior doors and large backyard
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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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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units offer distinct layouts, private parking, and tenant-paid utilities.
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 duplex totaling 1,600 square feet; Front unit: 1 bed/1 bath with private porch and driveway parking; Rear unit: 3 beds/1 bath with two exterior doors and large backyard
