Remodeled Duplex with Covered
For Sale
$1,025,000
204 NW 1st St, Boynton Beach, FL 33435
Residential Income, Boynton Beach, FL
Property Size2,238 SF
Price / SF$457
Days on Market76
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
Amenities
private fenced backyard
screened-in porch
washer
dryer
water heater
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: Jul 18
Changed: Sep 22
Last Checked: Oct 1 at 1:06PM
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 2,238-square-foot duplex contains two mirrored units, each with 3 bedrooms and 2 bathrooms. The property was built in 1960 with block construction, tile flooring, central heating, and central air. Renovations include a 2022 roof, updated kitchens and bathrooms, new appliances, refreshed bedrooms, landscaping, and exterior work. Each residence has its own washer, dryer, and water heater.
Parking includes a covered carport and a broad front driveway. Unit 208 has a private fenced backyard, while Unit 204 includes a screened-in porch. The property is directly across from Boynton Beach City Hall and 1 mile from the beach, with restaurants, shopping, entertainment, and major transportation routes nearby. Public sewer and cable availability serve the property.
Parking includes a covered carport and a broad front driveway. Unit 208 has a private fenced backyard, while Unit 204 includes a screened-in porch. The property is directly across from Boynton Beach City Hall and 1 mile from the beach, with restaurants, shopping, entertainment, and major transportation routes nearby. Public sewer and cable availability serve the property.
Key Highlights
- Two mirrored 3‑bedroom, 2‑bath units within a 2,238‑square‑foot duplex
- 2022 roof plus renovated kitchens, bathrooms, bedrooms, landscaping, and exterior improvements
- Separate washer, dryer, and water heater 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
$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
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Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,467
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences offer separate laundry, outdoor areas, and access to public sewer service.
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: Two mirrored 3‑bedroom, 2‑bath units within a 2,238‑square‑foot duplex; 2022 roof plus renovated kitchens, bathrooms, bedrooms, landscaping, and exterior improvements; Separate washer, dryer, and water heater for each unit
