Two-Unit
For Sale
$949,000
2741 Parker Avenue, West Palm Beach, FL 33405
Residential Income, West Palm Beach, FL
Property Size1,682 SF
Lot Size0.16 Acres
Price / SF$564.21
Days on Market171
Property Features for 2741 Parker Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SF14 (city)
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1
Spa
1
Patio and Porch features
Patio
Pets allowed
Yes, No
Exterior features
Courtyard, Barbecue, Lighting, Outdoor Shower, Storage
Fencing
Fenced
Subdivision
WILLA PARK
Lot features
Landscaped
View
City
Elementary school
Belvedere
Middle school
Conniston Community
High school
Forest Hill
Directions
I-95 to Belvedere RD, head east, turn right on Parker Ave
Standard status
Active
APN
74434333360000453
Size
1,682 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WILLA PARK E 67 FT OF LTS 45 & 46
Tax Annual Amount
11897
Legal Description
WILLA PARK E 67 FT OF LTS 45 & 46
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
fenced backyard
gazebo
hot tub
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Flooring type
Concrete
Building materials
Concrete, Stucco
Roof type
Shingle
Additional Structures
Storage, Pergola
Listing Agency:
Keller Williams Realty Jupiter
(561) 427-6100
Listed By:
Lisa Gonzalez · License #3462834
(561) 310-2886
Added: Mar 24
Changed: Sep 10
Last Checked: Sep 10 at 8:06PM
MLS# B26006206
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.
Investment Insights
Based on property information with market context.
This two-unit duplex in West Palm Beach contains 1,682 square feet on a 0.16-acre parcel. The property features concrete and stucco construction, concrete flooring, central heating, central air, ceiling fans, and a shingle roof. Built in 1950, it also includes a patio, storage, outdoor shower, lighting, barbecue area, and a fenced yard with a gazebo and hot tub.
The property is located near Palm Beach International Airport and Downtown West Palm Beach. It is served by public water and public sewer, with cable available. SF14 (city) zoning and the two-unit layout provide the core framework for residential income use, multigenerational occupancy, or an owner-occupant arrangement with additional income potential.
The property is located near Palm Beach International Airport and Downtown West Palm Beach. It is served by public water and public sewer, with cable available. SF14 (city) zoning and the two-unit layout provide the core framework for residential income use, multigenerational occupancy, or an owner-occupant arrangement with additional income potential.
Key Highlights
- Two‑unit duplex with 1,682 square feet
- 0.16‑acre parcel in West Palm Beach
- SF14 (city) zoning
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
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,305
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
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 - Renovated income property with a fenced outdoor area, gazebo, hot tub, and central cooling.
Where is this duplex located?
The property is located at 2741 Parker Avenue 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: Two‑unit duplex with 1,682 square feet; 0.16‑acre parcel in West Palm Beach; SF14 (city) zoning
