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    Residential Income Duplex Title is generated by Realmo AI

    2227 NE 3rd Avenue, Delray Beach, FL 33444

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    For Sale
    $769,000

    MULTI_FAMILY - Delray Beach, FL

    Property size:
    1,682 SF
    Lot size:
    0.24 Acres
    Price / SF:
    $457/SF
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 2:06 pm

    Property Features for 2227 NE 3rd Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-1-A(
    Bedrooms
    4
    Rooms
    Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 2
    Patio and Porch features
    Patio
    Pets allowed
    Yes, No
    Fencing
    Fenced
    Standard status
    Active
    APN
    12434604210110150
    Size
    1,682 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SEACREST PARK LT 15 (LESS W 10 FT RD R/W) BLK 11
    Tax Annual Amount
    9426

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1973
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile
    Building materials
    CBS
    Roof type
    Composition

    We can help!

    Listing Contact
    Jeffrey Creegan
    Jeffrey Creegan

    Listing agent Jeffrey Creegan License #3432383

    Listing office Compass Florida LLC 101 N Federal Hwy, 5th Floor, Miami Beach, FL

    Listing date Jun 5, 2026

    MLS# B26037499 Listing URL

    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.

    HighLights

    • Built in 1973 with CBS construction materials
    • Tile flooring throughout
    • Central heating and central air conditioning, plus ceiling fans
    • Patio and fenced yard
    • Public water and public sewer
    • Composition roof; electric and cable available

    Overview

    This for-sale residential income property is listed as a duplex/multifamily asset with a total building size of 1,682 square feet. The site sits on a 0.24-acre lot and is identified under zoning R-1-A(. Because the listing does not provide unit-by-unit features, buyers and brokers should confirm the current configuration and interior details during due diligence.

    The property is located at 2227 NE 3rd Avenue in Delray Beach, Florida 33444, within Palm Beach County. Prospective purchasers should review local zoning requirements and permitted uses tied to the R-1-A( designation, along with any applicable development or modification rules that may affect renovations, tenant improvements, or changes to the building.

    For tenants, this type of duplex or residential income setup can support households seeking an attached, income-oriented rental format. For buyers, the asset’s compact building footprint and defined lot size may appeal to those looking to acquire a modest-sized residential income property in Delray Beach. As with any income property purchase, confirm all operating assumptions and compliance items directly with the seller and through applicable permitting and inspection processes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Delray Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.066678
    Latitude
    26.486596

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    FAQs

    What type of property is this?
    Duplex - Duplex-style residential income property for sale with zoning designated for R-1-A use in Delray Beach.
    Where is this duplex located?
    The property is located at 2227 NE 3rd Avenue Delray Beach, FL.
    What is the asking price?
    The asking price for this property is $769,000.
    What are key features of this property?
    This property features: Built in 1973 with CBS construction materials; Tile flooring throughout; Central heating and central air conditioning, plus ceiling fans
    (561) 939-9819
    We can help!
    Listing Contact
    Jeffrey Creegan
    Jeffrey Creegan
    Real Estate License ID: 3432383
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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