Renovated Duplex with Solar
New
For Sale
$750,000
1657 MAGNOLIA Lane, West Palm Beach, FL 33417
Two separately metered residences offer private laundry rooms and dedicated outdoor areas.
Property Size2,228 SF
Price / SF$426.14
Days on Market7
Property Features for 1657 MAGNOLIA Lane
General Information
Standard status
Active
Size
2,228 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
RM
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,729
Amenities
private laundry rooms
private fenced backyard
screened patio
impact-rated windows and doors
solar panels
Building Details
Building Size
2,228 SF
Year Built
1974
Buildings
1
Stories
1
Listing Agency:
Illustrated Properties
Listed By:
Mohammed Ismail · License #3250368
(561) 236-4775
Source:
Laerrealty
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 22 at 1:51PM
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
Investment Insights
Based on property information with market context.
Renovated duplex with 1,760 square feet across a 3-bedroom, 2-bath residence and a 2-bedroom, 1-bath residence. Interior updates include tile flooring, fresh paint, LED lighting, and chandeliers. Each unit has separate electric and water meters, a private laundry room with washer and dryer, and its own outdoor area. Impact-rated windows and doors are installed throughout.
The 2-bedroom residence includes a fenced backyard and screened patio, while the 3-bedroom residence has a backyard suited to outdoor use. Solar panels are in place, and the seller will satisfy the existing solar balance at closing. The property was built in 1974, carries RM zoning, and is positioned near Turnpike access, parks, shopping, and major amenities in West Palm Beach.
The 2-bedroom residence includes a fenced backyard and screened patio, while the 3-bedroom residence has a backyard suited to outdoor use. Solar panels are in place, and the seller will satisfy the existing solar balance at closing. The property was built in 1974, carries RM zoning, and is positioned near Turnpike access, parks, shopping, and major amenities in West Palm Beach.
Key Highlights
- 1,760 SF duplex with 3‑bedroom, 2‑bath and 2‑bedroom, 1‑bath residences
- Separate electric and water meters for each unit
- Private laundry rooms with washer and dryer in both residences
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
$32,936
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
4.39%
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%
$658,720
$658.7K
Cap Rate 7%
$470,514
$470.5K
Cap Rate 9%
$365,956
$366.0K
Market Conditions
NOI Build-Up for 1,760 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
$49.6K $28.20/SF
− Vacancy
−$2.6K −$1.47/SF
EGI
$47.1K $26.73/SF
− OpEx
−$14.1K −$8.02/SF
NOI
$32.9K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /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%
$658,720
Cap Rate 7%
$470,514
Cap Rate 9%
$365,956
Alternative Uses
Best Use
Multifamily LT 5
$470.5K
$411.7K – $548.9K
NOI $32,936 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$437.6K
$382.9K – $510.5K
NOI $30,632 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,764 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Explore this area
Business Placement
Demographics for 33417, FL
34,153
Population
20,450
Households
1.7
Avg Household Size
48
Median Age
26%
College-Educated
83%
High-School Grad
6.6 sq mi
ZIP Area
5,175
Density / Sq Mi
$50,077
Median Household Income
$35,036
Median Earnings
$1,533
Median Rent
$159,300
Median Home Value
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 - Two separately metered residences offer private laundry rooms and dedicated outdoor areas.
Where is this duplex located?
The property is located at 1657 MAGNOLIA Lane West Palm Beach, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,760 SF duplex with 3‑bedroom, 2‑bath and 2‑bedroom, 1‑bath residences; Separate electric and water meters for each unit; Private laundry rooms with washer and dryer in both residences
