Duplex With Private Back
For Sale
$795,000
1718 Ridge Rd, North Palm Beach, FL 33408
Duplex with two units, private back patios, in-unit washers and dryers, and an attached garage in a non-HOA community.
Property Size1,590 SF
Price / SF$500
Days on Market80
Property Features for 1718 Ridge Rd
General Information
Standard status
Active
Size
1,590 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,463
Amenities
private back patios
in-unit washers and dryers
ample parking
attached garage
Listing Agency:
Coldwell Banker/ WPB
(954) 614-2080
Listed By:
Chloe Zambrano · License #3492662
(954) 614-2080
Source:
Exprealty
Added: Jun 6
Changed: Aug 23
Last Checked: Aug 20 at 9:02PM
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 Coldwell Banker/ WPB
Investment Insights
Based on property information with market context.
This duplex features two separate units in a non-HOA community. The property includes updated finishes and a new electrical panel. Each unit has access to its own private back patio, along with in-unit washers and dryers, plus ample parking and an attached garage.
The home is located in North Palm Beach, with convenient access from PGA Blvd and minutes to the beach.
An efficient layout helps maximize the available square footage for a well-maintained, income-producing duplex configuration.
The home is located in North Palm Beach, with convenient access from PGA Blvd and minutes to the beach.
An efficient layout helps maximize the available square footage for a well-maintained, income-producing duplex configuration.
Key Highlights
- Duplex built in 1982 with 2 units in a non‑HOA community
- Each unit has a private back patio
- In‑unit washers and dryers for both units
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
$26,505
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
3.33%
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%
$530,100
$530.1K
Cap Rate 7%
$378,643
$378.6K
Cap Rate 9%
$294,500
$294.5K
Market Conditions
NOI Build-Up for 1,590 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
$40.1K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.9K $23.81/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.5K $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%
$530,100
Cap Rate 7%
$378,643
Cap Rate 9%
$294,500
Alternative Uses
Best Use
Multifamily LT 5
$378.6K
$331.3K – $441.8K
NOI $26,505 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$349.3K
$305.7K – $407.6K
NOI $24,453 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$1.12M
$979.8K – $1.31M
NOI $78,384 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 33408, FL
18,965
Population
13,490
Households
1.4
Avg Household Size
58
Median Age
52%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
2,789
Density / Sq Mi
$91,390
Median Household Income
$65,606
Median Earnings
$1,885
Median Rent
$502,900
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 - Duplex with two units, private back patios, in-unit washers and dryers, and an attached garage in a non-HOA community.
Where is this duplex located?
The property is located at 1718 Ridge Rd North Palm Beach, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Duplex built in 1982 with 2 units in a non‑HOA community; Each unit has a private back patio; In‑unit washers and dryers for both units
