Renovated Duplex with Impact
For Sale
$379,000
1117 3rd Avenue N, Lake Worth, FL 33460
MULTI_FAMILY - Lake Worth Beach, FL
Property Size952 SF
Lot Size0.12 Acres
Price / SF$398.11
Days on Market48
Property Features for 1117 3rd Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SF-TF-14 (city)
Bedrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Pets allowed
Dogs OK, Yes, Cats OK
Subdivision
LAKE WORTH TOWN OF
Elementary school
Highland
Middle school
Lake Worth
High school
Lake Worth
Standard status
Active
APN
38434421150580151
Size
952 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWN OF LAKE WORTH N 1/2 OF LT 15 & LT 16 BLK 58
Tax Annual Amount
5279
Legal Description
TOWN OF LAKE WORTH N 1/2 OF LT 15 & LT 16 BLK 58
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Electric
Water source
Public
Amenities
impact windows and doors
tankless hot water heater
granite kitchen tops
stainless appliances
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Flooring type
Laminate, Tile
Building materials
Concrete, Stucco
Roof type
Flat
Listing Agency:
Realty ONE Group Innovation
(561) 501-0055
Listed By:
Georgette Laguerre · License #3497394
(561) 643-6859
Added: Jun 30
Changed: Aug 8
Last Checked: Aug 16 at 4:06PM
MLS# B26047208
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.
Renovated duplex at 1117 3rd Avenue N, Lake Worth Beach, FL 33460, built in 1953. The property features impact windows and impact doors, with tankless hot water heaters in each unit. Interior finishes include laminate and tile flooring, and the kitchens have new granite kitchen tops with stainless appliances.
The duplex is constructed with concrete and stucco and has a flat roof. Heating is provided by central systems, and cooling includes electric service and ceiling fan(s). Public water and public sewer services support the property.
Zoned SF-TF-14 (city), this is a small-lot residential duplex totaling 952 square feet. The layout includes bedrooms and two bathrooms across the units.
The duplex is constructed with concrete and stucco and has a flat roof. Heating is provided by central systems, and cooling includes electric service and ceiling fan(s). Public water and public sewer services support the property.
Zoned SF-TF-14 (city), this is a small-lot residential duplex totaling 952 square feet. The layout includes bedrooms and two bathrooms across the units.
Key Highlights
- Renovated duplex with impact windows and impact doors
- Tankless hot water heater in each unit
- 0.12‑acre lot
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
$15,870
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
4.19%
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%
$317,400
$317.4K
Cap Rate 7%
$226,714
$226.7K
Cap Rate 9%
$176,333
$176.3K
Market Conditions
NOI Build-Up for 952 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
$24.0K $25.20/SF
− Vacancy
−$1.3K −$1.39/SF
EGI
$22.7K $23.81/SF
− OpEx
−$6.8K −$7.14/SF
NOI
$15.9K $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%
$317,400
Cap Rate 7%
$226,714
Cap Rate 9%
$176,333
Alternative Uses
Best Use
Multifamily LT 5
$226.7K
$198.4K – $264.5K
NOI $15,870 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$209.2K
$183.0K – $244.0K
NOI $14,641 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$670.5K
$586.7K – $782.2K
NOI $46,932 @ 7.0% cap · market cap 12.38%
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
1,875
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 - Renovated duplex on a 0.12-acre lot, zoned SF-TF-14, featuring impact windows and doors.
Where is this duplex located?
The property is located at 1117 3rd Avenue N Lake Worth, FL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Renovated duplex with impact windows and impact doors; Tankless hot water heater in each unit; 0.12‑acre lot
