Renovated Two-Unit
For Sale
$949,000
2741 Parker Avenue #A & B, West Palm Beach, FL 33405
Zoned SF14, the property combines two residential units with a fenced backyard, gazebo, turf, and hot tub.
Property Size2,075 SF
Price / SF$564.21
Days on Market59
Property Features for 2741 Parker Avenue #A & B
General Information
Standard status
Active
Size
2,075 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
SF14 (city)
Net Operating Income
$78,300
Taxes and HOA fees
Annual Taxes
$11,897
Building Details
Building Size
2,075 SF
Year Built
1950
Stories
1
Listing Agency:
Keller Williams Realty Jupiter
(561) 310-2886
Listed By:
Lisa Gonzalez · License #3462834
(561) 310-2886
Source:
Laerrealty
Added: Jul 6
Changed: Aug 30
Last Checked: Sep 1 at 2:57PM
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 Jupiter
Investment Insights
Based on property information with market context.
Built in 1950 and renovated, this 1,682-square-foot duplex contains two residential units at 2741 Parker Avenue, #A & B. The property includes a fully fenced backyard with turf, a gazebo, and a hot tub, creating a defined outdoor area for entertaining or private use.
The property is in West Palm Beach near PBI Airport and Downtown WPB. City zoning is SF14. Its two-unit configuration supports a range of residential ownership and occupancy arrangements, including use by an owner occupant or multiple members of a household.
The property is in West Palm Beach near PBI Airport and Downtown WPB. City zoning is SF14. Its two-unit configuration supports a range of residential ownership and occupancy arrangements, including use by an owner occupant or multiple members of a household.
Key Highlights
- Renovated duplex with 2 residential units
- 1,682‑square‑foot property built in 1950
- Fully fenced backyard with turf
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
$31,476
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
3.32%
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%
$629,520
$629.5K
Cap Rate 7%
$449,657
$449.7K
Cap Rate 9%
$349,733
$349.7K
Market Conditions
NOI Build-Up for 1,682 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
$47.4K $28.20/SF
− Vacancy
−$2.5K −$1.47/SF
EGI
$45.0K $26.73/SF
− OpEx
−$13.5K −$8.02/SF
NOI
$31.5K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /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%
$629,520
Cap Rate 7%
$449,657
Cap Rate 9%
$349,733
Alternative Uses
Best Use
Multifamily LT 5
$449.7K
$393.5K – $524.6K
NOI $31,476 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$418.2K
$365.9K – $487.9K
NOI $29,274 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,919 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,164
Businesses Nearby
Explore this area
Business Placement
Demographics for 33405, FL
19,369
Population
9,557
Households
2
Avg Household Size
41
Median Age
34%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
4,304
Density / Sq Mi
$82,945
Median Household Income
$46,450
Median Earnings
$1,432
Median Rent
$401,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Zoned SF14, the property combines two residential units with a fenced backyard, gazebo, turf, and hot tub.
Where is this duplex located?
The property is located at 2741 Parker Avenue #A & B West Palm Beach, FL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Renovated duplex with 2 residential units; 1,682‑square‑foot property built in 1950; Fully fenced backyard with turf
