Furnished
For Sale
$800,000
1230 BLOCK ISLAND Road 1, Wellington, FL 33414
Two furnished units offer immediate occupancy flexibility with no HOA or leasing restrictions.
Property Size1,864 SF
Days on Market57
Property Features for 1230 BLOCK ISLAND Road 1
General Information
Standard status
Active
Size
1,864 SF
Property subtype
Duplex
Additional Details
Furnished
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,501
Building Details
Building Size
1,864 SF
Year Built
1975
Listing Agency:
Realty OF America
Listed By:
Tyler OBrady · License #3566915
(754) 777-1111
Source:
Meyerlucas
Added: Aug 21
Changed: Oct 13
Last Checked: Oct 15 at 6:58AM
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
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Investment Insights
Based on property information with market context.
This duplex, constructed in 1975, includes furnishings in both units and updated air-conditioning systems. Unit 1 has an A/C approximately 3 years old, while Unit 2’s A/C is approximately 1 year old. The roof is approximately 10 years old.
The property is in Wellington, near shopping, dining, recreation, and major roadways. There is no HOA, and leasing restrictions do not apply, providing flexibility for ownership and occupancy arrangements.
The property is in Wellington, near shopping, dining, recreation, and major roadways. There is no HOA, and leasing restrictions do not apply, providing flexibility for ownership and occupancy arrangements.
Key Highlights
- Duplex with furnishings included in both units
- Unit 1 A/C approximately 3 years old
- Unit 2 A/C approximately 1 year old
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,073
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two furnished units offer immediate occupancy flexibility with no HOA or leasing restrictions.
Where is this duplex located?
The property is located at 1230 BLOCK ISLAND Road 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: Duplex with furnishings included in both units; Unit 1 A/C approximately 3 years old; Unit 2 A/C approximately 1 year old
