Duplex with Separate Laundry
New
For Sale
$450,000
1114 7th Avenue N, Lake Worth, FL 33460
Two-unit residential property with a locked utility room for shared laundry hookups and updated electrical panels.
Property Size1,485 SF
Price / SF$314.69
Days on Market3
Property Features for 1114 7th Avenue N
General Information
Standard status
Active
Size
1,485 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
SF-R (city)
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,638
Amenities
common laundry area
Building Details
Building Size
1,485 SF
Year Built
1954
Stories
1
Construction
concrete block
Listing Agency:
Echo Fine Properties
Listed By:
Dara Dickinson · License #3380939
(815) 742-8587
Source:
Laerrealty
Added: Sep 22
Last Checked: Sep 22 at 1:37PM
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 Echo Fine Properties
Investment Insights
Based on property information with market context.
This 1,430-square-foot concrete block duplex, built in 1954, contains one two-bedroom, one-bath unit and one one-bedroom, one-bath unit. The larger apartment has a newer kitchen, while the smaller unit is undergoing updates that include new flooring and fresh paint. Both units are supported by updated electrical panels.
A separate locked utility room provides a common laundry area with washer and dryer hookups. The property is zoned SF-R by the city and is located at 1114 7th Avenue N in Lake Worth Beach, near downtown and its dining, shopping, arts, and entertainment offerings.
A separate locked utility room provides a common laundry area with washer and dryer hookups. The property is zoned SF-R by the city and is located at 1114 7th Avenue N in Lake Worth Beach, near downtown and its dining, shopping, arts, and entertainment offerings.
Key Highlights
- Two‑unit layout with one 2‑bedroom, 1‑bath unit and one 1‑bedroom, 1‑bath unit
- 1,430 SF concrete block duplex built in 1954
- Separate locked utility room with common laundry area and washer/dryer hookups
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
$23,838
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
5.30%
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%
$476,760
$476.8K
Cap Rate 7%
$340,543
$340.5K
Cap Rate 9%
$264,867
$264.9K
Market Conditions
NOI Build-Up for 1,430 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
$36.0K $25.20/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$34.1K $23.81/SF
− OpEx
−$10.2K −$7.14/SF
NOI
$23.8K $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%
$476,760
Cap Rate 7%
$340,543
Cap Rate 9%
$264,867
Alternative Uses
Best Use
Multifamily LT 5
$340.5K
$298.0K – $397.3K
NOI $23,838 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$314.2K
$274.9K – $366.5K
NOI $21,992 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$1.01M
$881.2K – $1.17M
NOI $70,496 @ 7.0% cap · market cap 15.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,212
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 - Two-unit residential property with a locked utility room for shared laundry hookups and updated electrical panels.
Where is this duplex located?
The property is located at 1114 7th Avenue N Lake Worth, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit layout with one 2‑bedroom, 1‑bath unit and one 1‑bedroom, 1‑bath unit; 1,430 SF concrete block duplex built in 1954; Separate locked utility room with common laundry area and washer/dryer hookups
