Two-Unit Townhouse
For Sale
$799,000
1029 S C Street, Lake Worth, FL 33460
Two-story duplex offers two 3BR/3BA units with in-unit washer/dryer, ample parking, and 2023 HVAC.
Property Size2,852 SF
Days on Market102
Property Features for 1029 S C Street
General Information
Standard status
Active
Size
2,852 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,911
Amenities
in-unit washer and dryer
2023 air conditioner system
Building Details
Building Size
2,852 SF
Year Built
1980
Stories
2
Tenancy
Multi
Listing Agency:
Door One Realty
Listed By:
Evens Domond · License #3052996
(305) 298-2728
Source:
Meyerlucas
Added: May 29
Changed: Sep 2
Last Checked: Sep 7 at 8:29AM
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 Door One Realty
Investment Insights
Based on property information with market context.
This two-story townhouse-style duplex includes two spacious units, each with three bedrooms and three bathrooms. The first floor provides one bedroom and one full bathroom per unit, while the second floor adds two additional bedrooms and two bathrooms. Both units feature in-unit washer and dryer appliances, and the property includes a 2023 air conditioning system.
One unit is currently tenant-occupied on a month-to-month lease, while the second unit is vacant and being updated. The property is situated on a large lot and offers ample parking.
With a 2-unit configuration and unit-by-unit living layout, the duplex is well suited for buyers looking to manage a residential income property or occupy one unit while leasing the other, depending on their plans.
One unit is currently tenant-occupied on a month-to-month lease, while the second unit is vacant and being updated. The property is situated on a large lot and offers ample parking.
With a 2-unit configuration and unit-by-unit living layout, the duplex is well suited for buyers looking to manage a residential income property or occupy one unit while leasing the other, depending on their plans.
Key Highlights
- Two‑story duplex with two units, each featuring 3 bedrooms and 3 bathrooms
- Unit layout: 1BD/1BA on the first floor plus 2BD/2BA on the second floor in each unit
- One unit is tenant‑occupied on a month‑to‑month lease at $2,700 per month; second unit is vacant and being 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
$47,542
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
5.95%
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%
$950,840
$950.8K
Cap Rate 7%
$679,171
$679.2K
Cap Rate 9%
$528,244
$528.2K
Market Conditions
NOI Build-Up for 2,852 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
$71.9K $25.20/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$67.9K $23.81/SF
− OpEx
−$20.4K −$7.14/SF
NOI
$47.5K $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%
$950,840
Cap Rate 7%
$679,171
Cap Rate 9%
$528,244
Alternative Uses
Best Use
Multifamily LT 5
$679.2K
$594.3K – $792.4K
NOI $47,542 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$626.6K
$548.3K – $731.0K
NOI $43,862 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,598 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
723
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 - Two-story duplex offers two 3BR/3BA units with in-unit washer/dryer, ample parking, and 2023 HVAC.
Where is this duplex located?
The property is located at 1029 S C Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑story duplex with two units, each featuring 3 bedrooms and 3 bathrooms; Unit layout: 1BD/1BA on the first floor plus 2BD/2BA on the second floor in each unit; One unit is tenant‑occupied on a month‑to‑month lease at $2,700 per month; second unit is vacant and being updated
