Remodeled Duplex with Two 3BR
For Sale
$1,025,000
204 NW 1st St, Boynton Beach, FL 33435
MULTI_FAMILY - Boynton Beach, FL
Property Size2,238 SF
Price / SF$457
Days on Market56
Property Features for 204 NW 1st St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-1-A (c
Parking
4
Subdivision
BOYNTON HEIGHTS
Lot features
1/4 to 1/2 Acre Lot
Directions
I95 to Boyton Beach Blvd, Turn right on NW 1st street. Property on the left.
Standard status
Active
APN
08434528100040280
Size
2,238 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BOYNTON HEIGHTS ADD REVISED PLLTS 28 TO 31 INC BLK 4
Tax Annual Amount
10661
Legal Description
BOYNTON HEIGHTS ADD REVISED PLLTS 28 TO 31 INC BLK 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1960
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Built-Up
Listing Agency:
Xcellence
(866) 595-6025
Listed By:
Paul Jacques · License #3187171
(561) 441-9695
Added: Jun 21
Changed: Jul 18
Last Checked: Aug 15 at 7:06PM
MLS# A12030785
Copyright © 2026 Miami REALTORS®. 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 beautifully remodeled duplex features two mirrored 3-bedroom, 2-bath units. Each unit is equipped with its own washer, dryer, and water heater. Recent improvements include a 2022 roof, fully renovated kitchens, bathrooms, and bedrooms, along with new appliances, fresh landscaping, and exterior updates.
Ample parking is available, including a covered carport and a spacious front driveway. Unit 208 includes a private fenced backyard, while Unit 204 offers a screened-in porch.
The property is located about 1 mile from the beach and is directly across from Boynton Beach City Hall, with access to nearby restaurants, shopping, entertainment, and major transportation routes.
Ample parking is available, including a covered carport and a spacious front driveway. Unit 208 includes a private fenced backyard, while Unit 204 offers a screened-in porch.
The property is located about 1 mile from the beach and is directly across from Boynton Beach City Hall, with access to nearby restaurants, shopping, entertainment, and major transportation routes.
Key Highlights
- Remodeled duplex with two mirrored 3‑bedroom, 2‑bath units
- About 1 mile from the beach, located directly across from Boynton Beach City Hall
- Recent upgrades include a 2022 roof and fully renovated kitchens, bathrooms, and bedrooms
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
$37,307
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
3.64%
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%
$746,140
$746.1K
Cap Rate 7%
$532,957
$533.0K
Cap Rate 9%
$414,522
$414.5K
Market Conditions
NOI Build-Up for 2,238 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
$56.4K $25.20/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$53.3K $23.81/SF
− OpEx
−$16.0K −$7.14/SF
NOI
$37.3K $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%
$746,140
Cap Rate 7%
$532,957
Cap Rate 9%
$414,522
Alternative Uses
Best Use
Multifamily LT 5
$533.0K
$466.3K – $621.8K
NOI $37,307 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$491.7K
$430.2K – $573.7K
NOI $34,419 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,329 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,376
Businesses Nearby
Explore this area
Business Placement
Demographics for 33435, FL
37,318
Population
20,058
Households
1.9
Avg Household Size
45
Median Age
32%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
5,741
Density / Sq Mi
$66,612
Median Household Income
$35,488
Median Earnings
$1,846
Median Rent
$306,900
Median Home Value
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 - Turnkey duplex with two mirrored 3-bedroom, 2-bath units, each with in-unit laundry and updated systems.
Where is this duplex located?
The property is located at 204 NW 1st St Boynton Beach, FL.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Remodeled duplex with two mirrored 3‑bedroom, 2‑bath units; About 1 mile from the beach, located directly across from Boynton Beach City Hall; Recent upgrades include a 2022 roof and fully renovated kitchens, bathrooms, and bedrooms
