Duplex with Bonus
For Sale
Under Contract
$759,000
1900 CARISSA Road, Lake Clarke Shores, FL 33406
MULTI_FAMILY - Lake Clarke Shores, FL
Property Size1,342 SF
Lot Size0.38 Acres
Price / SF$565.57
Days on Market19
Property Features for 1900 CARISSA Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SFR (city)
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 2, Bathroom 2
Pets allowed
No, Yes
Fencing
Fenced
Subdivision
FLA-MANGO GROVELETS
Elementary school
Meadow Park
Middle school
Conniston Community
High school
Forest Hill
Standard status
Active Under Contract
APN
34434408060060061
Size
1,342 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FLA MANGO GROVELETS ADDN NO 1 AMND W 100 FT OF E 400 FT OF LT 6 BLK 6
Tax Annual Amount
10860
Legal Description
FLA MANGO GROVELETS ADDN NO 1 AMND W 100 FT OF E 400 FT OF LT 6 BLK 6
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating), Central
Cooling system
Heat Pump, Central Air, Ductless, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Flooring type
Tile, Wood
Building materials
CBS, Stucco
Roof type
Shingle
Listing Agency:
Paradise Real Estate Intl
(561) 203-6200
Listed By:
Lillian Claire Ojea Loveland · License #3477570
(561) 307-5818
Added: Jul 30
Changed: Aug 12
Last Checked: Aug 17 at 3:06AM
MLS# B26058539
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.
Single-story duplex-style residence in Lake Clarke Shores featuring a main house plus a bonus/guest suite for additional living space. The main layout is described as open with defined areas for rest, work, and entertaining, along with ample utility space. Interior updates include recent flooring, kitchen, and bathroom updates in the guest suite area, which is described as suitable for an in-law setup or tenant. Construction is CBS with stucco exterior materials, with wood and tile flooring throughout. Heating includes central and heat pump (heating), and cooling is provided via heat pump, ductless systems, ceiling fans, and central air.
The home sits on a 0.38-acre lot with a fenced yard. Water is provided by public water, while sewer is via septic tank. The property is zoned SFR (city), is served by a shingle roof, and was built in 1965.
Offered without HOA restrictions, the additional yard space is presented as flexible for outdoor use and potential expansion ideas.
The home sits on a 0.38-acre lot with a fenced yard. Water is provided by public water, while sewer is via septic tank. The property is zoned SFR (city), is served by a shingle roof, and was built in 1965.
Offered without HOA restrictions, the additional yard space is presented as flexible for outdoor use and potential expansion ideas.
Key Highlights
- Main house plus bonus/guest suite described for in‑law or tenant use
- 0.38‑acre fenced lot in Lake Clarke Shores
- CBS with stucco construction and shingle roof
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
$22,371
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
2.95%
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%
$447,420
$447.4K
Cap Rate 7%
$319,586
$319.6K
Cap Rate 9%
$248,567
$248.6K
Market Conditions
NOI Build-Up for 1,342 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
$33.8K $25.20/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$32.0K $23.81/SF
− OpEx
−$9.6K −$7.14/SF
NOI
$22.4K $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%
$447,420
Cap Rate 7%
$319,586
Cap Rate 9%
$248,567
Alternative Uses
Best Use
Multifamily LT 5
$319.6K
$279.6K – $372.9K
NOI $22,371 @ 7.0% cap · market cap 2.95%
Second Best
Apartment 5plus
$294.8K
$258.0K – $344.0K
NOI $20,639 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$945.1K
$827.0K – $1.10M
NOI $66,158 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,237
Businesses Nearby
Explore this area
Business Placement
Demographics for 33406, FL
27,663
Population
9,426
Households
2.9
Avg Household Size
39
Median Age
24%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
3,180
Density / Sq Mi
$79,696
Median Household Income
$37,453
Median Earnings
$1,677
Median Rent
$358,300
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 - Single-story duplex-style home with a bonus suite, fenced yard, and public water served with a septic tank.
Where is this duplex located?
The property is located at 1900 CARISSA Road Lake Clarke Shores, FL.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: Main house plus bonus/guest suite described for in‑law or tenant use; 0.38‑acre fenced lot in Lake Clarke Shores; CBS with stucco construction and shingle roof
