Furnished Duplex with Updated
For Sale
$800,000
1230 BLOCK ISLAND Road Unit 1, Wellington, FL 33414
Two furnished units offer flexible ownership options with no HOA and no leasing restrictions in Wellington.
Property Size1,864 SF
Price / SF$429.18
Days on Market20
Property Features for 1230 BLOCK ISLAND Road Unit 1
General Information
Standard status
Active
Size
1,864 SF
Property subtype
Duplex
Additional Details
Furnished
Yes
Multifamily Units
2
Building Details
Year Built
1975
Buildings
1
Listing Agency:
Realty OF America
(321) 732-5369
Listed By:
Tyler OBrady · License #3566915
(754) 777-1111
Source:
Lehmannflorida
Added: Aug 21
Changed: Sep 8
Last Checked: Sep 8 at 2:49PM
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 Realty OF America
Investment Insights
Based on property information with market context.
This 1,864-square-foot duplex, built in 1975, includes furnishings in both units and provides a two-unit residential income configuration. Unit 1 has an air-conditioning system approximately 3 years old, while Unit 2 has an approximately 1-year-old system. The roof is approximately 10 years old.
The property is located in Wellington, near shopping, dining, recreation, and major roadways. There is no HOA, and leasing restrictions do not apply, offering flexibility for an owner-occupant or investor. The address identifies the property as Unit 1 at 1230 Block Island Road.
The property is located in Wellington, near shopping, dining, recreation, and major roadways. There is no HOA, and leasing restrictions do not apply, offering flexibility for an owner-occupant or investor. The address identifies the property as Unit 1 at 1230 Block Island Road.
Key Highlights
- 1,864‑square‑foot duplex in Wellington
- Both units are furnished
- Unit 1 A/C is approximately 3 years old
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
$31,073
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
3.88%
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%
$621,460
$621.5K
Cap Rate 7%
$443,900
$443.9K
Cap Rate 9%
$345,256
$345.3K
Market Conditions
NOI Build-Up for 1,864 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
$47.0K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$44.4K $23.81/SF
− OpEx
−$13.3K −$7.14/SF
NOI
$31.1K $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%
$621,460
Cap Rate 7%
$443,900
Cap Rate 9%
$345,256
Alternative Uses
Best Use
Multifamily LT 5
$443.9K
$388.4K – $517.9K
NOI $31,073 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$409.5K
$358.3K – $477.8K
NOI $28,667 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,891 @ 7.0% cap · market cap 11.49%
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
317
Businesses Nearby
Explore this area
Business Placement
Demographics for 33414, FL
59,802
Population
23,111
Households
2.6
Avg Household Size
41
Median Age
45%
College-Educated
94%
High-School Grad
28.3 sq mi
ZIP Area
2,113
Density / Sq Mi
$105,953
Median Household Income
$52,892
Median Earnings
$2,326
Median Rent
$533,800
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 furnished units offer flexible ownership options with no HOA and no leasing restrictions in Wellington.
Where is this duplex located?
The property is located at 1230 BLOCK ISLAND Road Unit 1 Wellington, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 1,864‑square‑foot duplex in Wellington; Both units are furnished; Unit 1 A/C is approximately 3 years old
