2-Unit Duplex with New
New
For Sale
$449,000
125 Cleveland St, Lake Worth, FL 33461
Residential Income, Lake Worth, FL
Property Size1,258 SF
Price / SF$356.92
Days on Market1
Property Features for 125 Cleveland St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
TOD-W (c
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 1
Parking
4
Exterior features
Fence, Fruit Trees, Shed
Fencing
Fenced
Subdivision
BUFFALO HEIGHTS
Lot features
Interior Lot, < 1/4 Acre
Directions
US 1 to W on Lake Worth Rd to L on Collins ST
Standard status
Active
APN
38434428010050070
Size
1,258 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BUFFALO HEIGHTS~ REVISED PLAT LT 7 BLK 5
Tax Annual Amount
6557
Legal Description
BUFFALO HEIGHTS~ REVISED PLAT LT 7 BLK 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace, Electric (Heating)
Cooling system
Window Unit(s), Ceiling Fan(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block, Stucco
Roof type
Composition, Shingle, Built-Up
Listing Agency:
Keller Williams Realty Premier Properties
(305) 595-2844
Listed By:
Cristina Benitez · License #3143564
(786) 333-3652
Added: Sep 27
Last Checked: Sep 27 at 12:06PM
MLS# A12054262
Copyright © 2026 Miami REALTORS®. 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 1,258-square-foot duplex contains two 2-bedroom, 1-bathroom residences. One unit is vacant and freshly painted, while the other is occupied on a month-to-month basis. A new roof was installed in 2024, and three new A/C units are noted for 2026. The property also has ceramic tile flooring, a fenced yard, fruit trees, and a shed. Public water and sewer are available, and the building was constructed in 1953.
The duplex is steps from Lake Osborne and John Prince Park, with trails, fishing, and a boat ramp nearby. Downtown Lake Worth Beach and the ocean are described as a 10-minute drive away. The property is in the X flood zone and has TOD-W transit-oriented zoning.
The duplex is steps from Lake Osborne and John Prince Park, with trails, fishing, and a boat ramp nearby. Downtown Lake Worth Beach and the ocean are described as a 10-minute drive away. The property is in the X flood zone and has TOD-W transit-oriented zoning.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units in 1,258 square feet
- New roof installed in 2024
- Three new A/C units noted for 2026
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
$20,971
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
4.67%
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%
$419,420
$419.4K
Cap Rate 7%
$299,586
$299.6K
Cap Rate 9%
$233,011
$233.0K
Market Conditions
NOI Build-Up for 1,258 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
$31.7K $25.20/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$30.0K $23.81/SF
− OpEx
−$9.0K −$7.14/SF
NOI
$21.0K $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%
$419,420
Cap Rate 7%
$299,586
Cap Rate 9%
$233,011
Alternative Uses
Best Use
Multifamily LT 5
$299.6K
$262.1K – $349.5K
NOI $20,971 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$276.4K
$241.8K – $322.5K
NOI $19,347 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$886.0K
$775.2K – $1.03M
NOI $62,017 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
Explore this area
Business Placement
Demographics for 33461, FL
47,161
Population
18,095
Households
2.6
Avg Household Size
36
Median Age
17%
College-Educated
75%
High-School Grad
7.1 sq mi
ZIP Area
6,642
Density / Sq Mi
$61,218
Median Household Income
$31,503
Median Earnings
$1,615
Median Rent
$263,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - One residence is vacant and freshly painted; the other is occupied on a month-to-month basis.
Where is this duplex located?
The property is located at 125 Cleveland St Lake Worth, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units in 1,258 square feet; New roof installed in 2024; Three new A/C units noted for 2026
