Duplex on Corner
For Sale
$495,000
1202 S M Street, Lake Worth, FL 33460
MULTI_FAMILY - Lake Worth Beach, FL
Property Size1,120 SF
Lot Size0.15 Acres
Price / SF$441.96
Days on Market97
Property Features for 1202 S M Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SF-R(c
Bedrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2
Patio and Porch features
Patio, Porch
Pets allowed
No, Yes
Subdivision
LAKE WORTH TOWN OF ADD 1
Lot features
Corner Lot, Oversized Lot, Room for Pool
Elementary school
Barton
Middle school
Lantana Community
High school
Lake Worth
Standard status
Active
APN
38434427010560080
Size
1,120 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ADD 1 TO TOWN OF LAKE WORTH LT 8 BLK 56
Tax Annual Amount
9854
Legal Description
ADD 1 TO TOWN OF LAKE WORTH LT 8 BLK 56
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1962
Floors in Building
1
Number of units
2
Flooring type
Tile, Tile - Ceramic
Building materials
CBS
Roof type
Composition
Listing Agency:
Illustrated Properties LLC (Co
(561) 626-7000
Listed By:
Christopher J Infante · License #400370
(786) 348-7065
Added: May 12
Changed: Aug 14
Last Checked: Aug 16 at 11:06PM
MLS# B26027722
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 duplex features two 1-bedroom, 1-bath units in a CBS (concrete block stucco) building built in 1962. The property is located on an oversized corner lot with a composition roof and tile flooring. Heating is electric, and cooling is provided by wall/window and window unit(s), along with ceiling fans. Both units benefit from outdoor space with a porch and patio.
The home at 1202 S M Street, Lake Worth Beach, offers public water and public sewer, supporting straightforward residential utility service. It also includes electric service and connection to municipal water.
With two separate 1-bedroom units, the layout is designed for a straightforward duplex configuration while offering room to consider future development or reconfiguration on the corner lot. Buyers should verify any potential use changes with the City of Lake Worth Beach and their advisors.
The home at 1202 S M Street, Lake Worth Beach, offers public water and public sewer, supporting straightforward residential utility service. It also includes electric service and connection to municipal water.
With two separate 1-bedroom units, the layout is designed for a straightforward duplex configuration while offering room to consider future development or reconfiguration on the corner lot. Buyers should verify any potential use changes with the City of Lake Worth Beach and their advisors.
Key Highlights
- Two 1‑bedroom, 1‑bath units in a duplex configuration
- 0.15‑acre corner lot with room to expand or add units
- Built in 1962 with CBS (concrete block stucco) construction
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
$18,670
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
3.77%
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%
$373,400
$373.4K
Cap Rate 7%
$266,714
$266.7K
Cap Rate 9%
$207,444
$207.4K
Market Conditions
NOI Build-Up for 1,120 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
$28.2K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$26.7K $23.81/SF
− OpEx
−$8.0K −$7.14/SF
NOI
$18.7K $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%
$373,400
Cap Rate 7%
$266,714
Cap Rate 9%
$207,444
Alternative Uses
Best Use
Multifamily LT 5
$266.7K
$233.4K – $311.2K
NOI $18,670 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$246.1K
$215.3K – $287.1K
NOI $17,225 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$788.8K
$690.2K – $920.2K
NOI $55,214 @ 7.0% cap · market cap 11.15%
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
1,704
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 - Duplex with two 1-bedroom units on a 0.15-acre corner lot, with public water and sewer service.
Where is this duplex located?
The property is located at 1202 S M Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath units in a duplex configuration; 0.15‑acre corner lot with room to expand or add units; Built in 1962 with CBS (concrete block stucco) construction
