Updated Duplex With Bonus
New
For Sale
$899,000
27 NW 14TH Avenue, Delray Beach, FL 33444
Two residential units and a bonus area provide multiple occupancy and rental configurations.
Property Size2,386 SF
Price / SF$376.78
Days on Market6
Property Features for 27 NW 14TH Avenue
General Information
Standard status
Active
Size
2,386 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,951
Building Details
Building Size
2,386 SF
Year Built
1962
Buildings
1
Listing Agency:
Keller Williams Realty Service
Listed By:
Patricia Ricco · License #3580239
(561) 797-2159
Source:
Pamandtoni
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 21 at 9:01AM
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 Keller Williams Realty Service
Investment Insights
Based on property information with market context.
This recently updated duplex contains two residential units along with a bonus space that could potentially function as an additional unit. The property has a new roof and impact windows installed in 2022, and it is situated on a private street without HOA restrictions.
Both units have earned Super-Host recognition on rental platforms. The property is located just off Atlantic Avenue in Delray Beach, providing a South Florida setting near the city’s established commercial corridor.
Both units have earned Super-Host recognition on rental platforms. The property is located just off Atlantic Avenue in Delray Beach, providing a South Florida setting near the city’s established commercial corridor.
Key Highlights
- Two‑unit duplex with additional bonus space
- New roof and impact windows installed in 2022
- No HOA
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
$39,774
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
4.42%
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%
$795,480
$795.5K
Cap Rate 7%
$568,200
$568.2K
Cap Rate 9%
$441,933
$441.9K
Market Conditions
NOI Build-Up for 2,386 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
$60.1K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$56.8K $23.81/SF
− OpEx
−$17.0K −$7.14/SF
NOI
$39.8K $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%
$795,480
Cap Rate 7%
$568,200
Cap Rate 9%
$441,933
Alternative Uses
Best Use
Multifamily LT 5
$568.2K
$497.2K – $662.9K
NOI $39,774 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$524.2K
$458.7K – $611.6K
NOI $36,695 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,625 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,475
Businesses Nearby
Explore this area
Business Placement
Demographics for 33444, FL
22,671
Population
10,469
Households
2.2
Avg Household Size
41
Median Age
33%
College-Educated
84%
High-School Grad
5.0 sq mi
ZIP Area
4,534
Density / Sq Mi
$74,803
Median Household Income
$37,915
Median Earnings
$1,712
Median Rent
$425,200
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 residential units and a bonus area provide multiple occupancy and rental configurations.
Where is this duplex located?
The property is located at 27 NW 14TH Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑unit duplex with additional bonus space; New roof and impact windows installed in 2022; No HOA
