Two Detached Rental
1416 2nd Avenue North Lake Worth, FL 33460
1416 2nd Avenue North, Lake Worth, FL, 33460
$675,000
For Sale
$675,000
Two separate homes with individual utility meters, private fenced yards, and off-street parking.
Property Size1,359 SF
Price / SF$496.69
Days on Market698
Property Features for 1416 2nd Avenue North
General Information
- Standard status
- Active
- Size
- 1,359 SF
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1927
Listing agency
Bruckman Realty, LLC
(305) 421-7294
Listed by
Yenny Koulouris · License #3507636
(305) 421-7294
Source
Compass
Added: Aug 24, 2024 Updated: Jul 21 at 1:37PM Checked: Jul 22 at 8:31AM
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 Bruckman Realty, LLC
Investment Insights
Based on property information with market context.
This for-sale property includes two detached residential units, each with its own street address. Each home is separately metered with individual utility meters and includes a private fenced backyard, along with two off-street parking spaces per home.
The property is located in Lake Worth, just minutes from downtown and less than two miles from the beach. The City of Lake Worth has passed the rental inspection, and the approval is in place through 2028.
Showings are by appointment only through the listing agent, and proof of funds is required to schedule a viewing. Please note that long-term tenants are in place and should not be disturbed.
The property is located in Lake Worth, just minutes from downtown and less than two miles from the beach. The City of Lake Worth has passed the rental inspection, and the approval is in place through 2028.
Showings are by appointment only through the listing agent, and proof of funds is required to schedule a viewing. Please note that long-term tenants are in place and should not be disturbed.
Key Highlights
- Two detached homes built in 1927, each with its own street address
- Separate street addresses with individual utility meters for each home
- Each home includes a private fenced backyard
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.2k | $25.20 |
| − Vacancy | −$1.9k | −$1.39 |
| EGI | $32.4k | $23.81 |
| − OpEx | −$9.7k | −$7.14 |
| NOI | $22.7k | $16.67 |
1,359 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$323.6K
$283.2K – $377.6K
NOI $22,654 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$298.6K
$261.3K – $348.3K
NOI $20,900 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$957.1K
$837.5K – $1.12M
NOI $66,996 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separate homes with individual utility meters, private fenced yards, and off-street parking.
Where is this duplex located?
The property is located at 1416 2nd Avenue North Lake Worth, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two detached homes built in 1927, each with its own street address; Separate street addresses with individual utility meters for each home; Each home includes a private fenced backyard
