Updated Two-Unit
For Sale
$749,000
124 Mayfield Road, Lantana, FL 33462
Each residence has its own electric meter, covered carport, and access to the backyard.
Property Size2,321 SF
Price / SF$440.59
Days on Market94
Property Features for 124 Mayfield Road
General Information
Standard status
Active
Size
2,321 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R15(ci
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,289
Amenities
central A/C
enclosed sunroom
private rear patio
backyard
Building Details
Building Size
2,321 SF
Year Built
1948
Stories
1
Listing Agency:
Hampton Real Estate Group
Listed By:
Curtis Brown · License #R11116637
(561) 254-1509
Source:
Laerrealty
Added: Aug 4
Changed: Nov 4
Last Checked: Nov 4 at 10:19AM
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 Hampton Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 1948, this 1,700-square-foot duplex contains two separate residences with a practical mix of two-bedroom and one-bedroom layouts. The larger unit includes one bathroom, tile flooring, central A/C, an enclosed sunroom, and a rear patio. The adjoining one-bedroom residence has one bathroom, luxury vinyl flooring, central A/C, and an updated bathroom. Both units have covered carports and share access to the backyard. Separate electric meters serve the residences.
The property is located at 124 Mayfield Road in Lantana, near the beach and Intracoastal Waterway, with shopping and dining also identified in the surrounding area. Zoning is listed as R15(ci.
The property is located at 124 Mayfield Road in Lantana, near the beach and Intracoastal Waterway, with shopping and dining also identified in the surrounding area. Zoning is listed as R15(ci.
Key Highlights
- 1,700‑square‑foot duplex built in 1948
- Two‑bedroom, one‑bath unit with enclosed sunroom and rear patio
- One‑bedroom, one‑bath unit with updated bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,339
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$566,780
$566.8K
Cap Rate 7%
$404,843
$404.8K
Cap Rate 9%
$314,878
$314.9K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$42.8K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$40.5K $23.81/SF
− OpEx
−$12.1K −$7.14/SF
NOI
$28.3K $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%
$566,780
Cap Rate 7%
$404,843
Cap Rate 9%
$314,878
Alternative Uses
Best Use
Multifamily LT 5
$404.8K
$354.2K – $472.3K
NOI $28,339 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$373.5K
$326.8K – $435.8K
NOI $26,145 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,806 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,168
Businesses Nearby
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Business Placement
Demographics for 33462, FL
33,982
Population
15,911
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
84%
High-School Grad
8.6 sq mi
ZIP Area
3,951
Density / Sq Mi
$72,288
Median Household Income
$38,193
Median Earnings
$1,659
Median Rent
$323,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own electric meter, covered carport, and access to the backyard.
Where is this duplex located?
The property is located at 124 Mayfield Road Lantana, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 1,700‑square‑foot duplex built in 1948; Two‑bedroom, one‑bath unit with enclosed sunroom and rear patio; One‑bedroom, one‑bath unit with updated bathroom
