2-Unit Residential
For Sale
$499,900
225 N M Street #1, Lake Worth, FL 33460
The upper residence may be conveyed furnished, and the property carries city MF-30 zoning.
Property Size1,756 SF
Price / SF$294.75
Days on Market33
Property Features for 225 N M Street #1
General Information
Standard status
Active
Size
1,756 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
MF-30 (city)
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,471
Building Details
Building Size
1,756 SF
Year Built
1920
Stories
2
Listing Agency:
KW Reserve Palm Beach
Listed By:
Jeffrey L Tricoli
(561) 220-6006
Source:
Laerrealty
Added: Sep 24
Changed: Oct 26
Last Checked: Oct 26 at 12:55PM
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 KW Reserve Palm Beach
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Investment Insights
Based on property information with market context.
This 1,696-square-foot duplex, built in 1920, contains two residences with distinct layouts. The first-floor unit has one bedroom and one bathroom; the second-floor unit offers two bedrooms and one bathroom and may be sold furnished. The property is zoned MF-30 by the city.
Key Highlights
- 1,696‑square‑foot duplex built in 1920
- First‑floor unit: 1 bedroom and 1 bathroom
- Second‑floor unit: 2 bedrooms and 1 bathroom; may be sold furnished
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,272
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,440
$565.4K
Cap Rate 7%
$403,886
$403.9K
Cap Rate 9%
$314,133
$314.1K
Market Conditions
NOI Build-Up for 1,696 SF
Gross rent
$42.7K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$40.4K $23.81/SF
− OpEx
−$12.1K −$7.14/SF
NOI
$28.3K $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 Rate 5%
$565,440
Cap Rate 7%
$403,886
Cap Rate 9%
$314,133
Alternative Uses
Best Use
Multifamily LT 5
$403.9K
$353.4K – $471.2K
NOI $28,272 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$372.6K
$326.0K – $434.7K
NOI $26,083 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$1.19M
$1.05M – $1.39M
NOI $83,609 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,875
Businesses Nearby
Explore this area
Business Placement
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The upper residence may be conveyed furnished, and the property carries city MF-30 zoning.
Where is this duplex located?
The property is located at 225 N M Street #1 Lake Worth, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,696‑square‑foot duplex built in 1920; First‑floor unit: 1 bedroom and 1 bathroom; Second‑floor unit: 2 bedrooms and 1 bathroom; may be sold furnished
