Two-Unit Duplex with Private
For Sale
$810,000
Pending
1717 NE 3rd Avenue, Delray Beach, FL 33444
Residential Income, Delray Beach, FL
Property Size1,964 SF
Lot Size0.21 Acres
Days on Market89
Property Features for 1717 NE 3rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-1-A
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bedroom 6, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Pets allowed
No, Yes
Fencing
Fenced
Subdivision
SD of 4-46-43 IN
Elementary school
Plumosa School of the Arts K-8
High school
Atlantic
Directions
From George Bush Blvd, north on NE 3rd Ave.
Standard status
Pending
APN
12434609390000385
Size
1,964 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S/D OF 9-46-43 PT OF LT 38 K/A PAR E IN OR1560P60
Tax Annual Amount
9602
Legal Description
S/D OF 9-46-43 PT OF LT 38 K/A PAR E IN OR1560P60
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
indoor washer and dryer
central A/C
private living space
large backyard
Building Details
Year built
1964
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
CBS
Roof type
Shingle
Listing Agency:
Serhant
(561) 203-2762
Listed By:
Lemore Zausner · License #3473755
(561) 870-5598
Added: Jun 22
Changed: Sep 16
Last Checked: Sep 18 at 9:06AM
MLS# B26044004
Copyright © 2026 BeachesMLS. 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 1,964-square-foot duplex contains two separate residences, each with 3 bedrooms and 2 bathrooms. Both units include individual indoor washer and dryer connections, central A/C, tile flooring, and private living areas. The property was built in 1964 with CBS construction, a shingle roof, public water and sewer, and cable availability. A fenced backyard provides additional outdoor space, while the R-1-A zoning supports the property's residential configuration.
The property is located at 1717 NE 3rd Avenue in Delray Beach, just north of Atlantic Avenue and approximately a 2-minute drive from the downtown district. The 0.21-acre lot includes a large rear yard and is positioned near the shopping, dining, entertainment, and beaches associated with downtown Delray Beach.
The property is located at 1717 NE 3rd Avenue in Delray Beach, just north of Atlantic Avenue and approximately a 2-minute drive from the downtown district. The 0.21-acre lot includes a large rear yard and is positioned near the shopping, dining, entertainment, and beaches associated with downtown Delray Beach.
Key Highlights
- Two separate units, each with 3 bedrooms and 2 bathrooms
- 1,964 square feet on a 0.21‑acre lot
- Individual indoor washer and dryer for each unit
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
$32,739
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
4.04%
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%
$654,780
$654.8K
Cap Rate 7%
$467,700
$467.7K
Cap Rate 9%
$363,767
$363.8K
Market Conditions
NOI Build-Up for 1,964 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
$49.5K $25.20/SF
− Vacancy
−$2.7K −$1.39/SF
EGI
$46.8K $23.81/SF
− OpEx
−$14.0K −$7.14/SF
NOI
$32.7K $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%
$654,780
Cap Rate 7%
$467,700
Cap Rate 9%
$363,767
Alternative Uses
Best Use
Multifamily LT 5
$467.7K
$409.2K – $545.7K
NOI $32,739 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$431.5K
$377.6K – $503.4K
NOI $30,205 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,821 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Explore this area
Business Placement
Demographics for 33444, FL
22,671
Population
10,469
Households
2.2
Avg Household Size
41
Median Age
33%
College-Educated
84%
High-School Grad
5.0 sq mi
ZIP Area
4,534
Density / Sq Mi
$74,803
Median Household Income
$37,915
Median Earnings
$1,712
Median Rent
$425,200
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer private living areas, central A/C, indoor laundry, and fenced outdoor space.
Where is this duplex located?
The property is located at 1717 NE 3rd Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $810,000.
What are key features of this property?
This property features: Two separate units, each with 3 bedrooms and 2 bathrooms; 1,964 square feet on a 0.21‑acre lot; Individual indoor washer and dryer for each unit
