Renovated Two-Unit
For Sale
$849,000
1305 N Palmway, Lake Worth, FL 33460
Separate entrances, private outdoor areas, and hurricane-impact openings support flexible two-unit living.
Property Size1,798 SF
Price / SF$491.89
Days on Market76
Property Features for 1305 N Palmway
General Information
Standard status
Active
Size
1,798 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
SF-R (city)
Taxes and HOA fees
Annual Taxes
$15,080
Building Details
Building Size
1,798 SF
Year Built
1933
Stories
1
Listing Agency:
Illustrated Properties
Listed By:
Jonathan Allen · License #3250090
(561) 312-8713
Source:
Laerrealty
Added: Aug 17
Changed: Oct 26
Last Checked: Oct 30 at 11:36AM
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 Illustrated Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Renovated in 2021/2022, this duplex contains a 1,066-square-foot front residence and a 660-square-foot rear unit. The primary residence offers two bedrooms and one bathroom, oak flooring, an open kitchen with a separate coffee bar, formal dining space, a walk-in shower, and a wood deck. The second unit includes two bedrooms, one bathroom, a kitchen, storage or closet-conversion space, and a fenced private patio. Each unit has its own entrance, and the rear residence also has alley-accessed off-street parking.
The property includes hurricane-impact windows and doors, recessed lighting, custom window treatments, walk-in closets, and professional landscaping. It is located in a predominantly single-family residential area east of Federal Highway, one block from a golf course and the Intracoastal. The property is currently operated as an Airbnb.
The property includes hurricane-impact windows and doors, recessed lighting, custom window treatments, walk-in closets, and professional landscaping. It is located in a predominantly single-family residential area east of Federal Highway, one block from a golf course and the Intracoastal. The property is currently operated as an Airbnb.
Key Highlights
- Two‑unit duplex with 1,726 SF under air
- Front unit measures 1,066 SF; rear unit measures 660 SF
- Renovated in 2021/2022 with high‑end finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,772
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,440
$575.4K
Cap Rate 7%
$411,029
$411.0K
Cap Rate 9%
$319,689
$319.7K
Market Conditions
NOI Build-Up for 1,726 SF
Gross rent
$43.5K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$41.1K $23.81/SF
− OpEx
−$12.3K −$7.14/SF
NOI
$28.8K $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%
$575,440
Cap Rate 7%
$411,029
Cap Rate 9%
$319,689
Alternative Uses
Best Use
Multifamily LT 5
$411.0K
$359.7K – $479.5K
NOI $28,772 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$379.2K
$331.8K – $442.4K
NOI $26,545 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,088 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
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
Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances, private outdoor areas, and hurricane-impact openings support flexible two-unit living.
Where is this duplex located?
The property is located at 1305 N Palmway Lake Worth, FL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,726 SF under air; Front unit measures 1,066 SF; rear unit measures 660 SF; Renovated in 2021/2022 with high‑end finishes
