Duplex with Separate
New
For Sale
$475,000
2960 Chickamauga Avenue, West Palm Beach, FL 33409
Residential Income, West Palm Beach, FL
Property Size1,011 SF
Lot Size0.13 Acres
Price / SF$469.83
Days on Market6
Property Features for 2960 Chickamauga Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RH
Bedrooms
5
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 5, Bathroom 1
Patio and Porch features
Porch, Patio
Pets allowed
Yes, No
Exterior features
Courtyard
Fencing
Gate, Fenced
Subdivision
WEST GATE ESTATES NORTHERN
Elementary school
West Gate
Middle school
Jeaga
High school
Palm Beach Lakes
Standard status
Active
APN
00434330030130030
Size
1,011 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WEST GATE ESTS /NORTHERN SEC/ LTS 3 & 4 BLK 13
Tax Annual Amount
5482
Legal Description
WEST GATE ESTS /NORTHERN SEC/ LTS 3 & 4 BLK 13
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1958
Floors in Building
1
Number of units
4
Flooring type
Vinyl, Tile, Carpet, Linoleum
Building materials
Frame, Stucco
Roof type
Composition
Listing Agency:
Paradise Real Estate Intl
(561) 570-4040
Listed By:
Ashley Vance · License #3337837
(646) 265-6412
Added: Aug 24
Changed: Aug 26
Last Checked: Aug 29 at 8:06PM
MLS# B26067842
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 duplex contains two separate residential units: a front residence with four bedrooms and one bathroom, plus a rear one-bedroom, one-bath unit. The 1,011-square-foot property was built in 1958 and has a composition roof installed in 2019. Interior finishes include vinyl, tile, carpet, and linoleum, while exterior features include a courtyard, porch, patio, fencing, and gated access. Cooling is provided by window or wall/window units.
Each unit has its own meter, and the property includes public water and public sewer service. The 0.13-acre parcel is situated on Chickamauga Avenue in West Palm Beach, with the location positioned between I-95 and the Turnpike. On-site parking is available, and the property is zoned RH.
Each unit has its own meter, and the property includes public water and public sewer service. The 0.13-acre parcel is situated on Chickamauga Avenue in West Palm Beach, with the location positioned between I-95 and the Turnpike. On-site parking is available, and the property is zoned RH.
Key Highlights
- Legal duplex with a 4‑bedroom, 1‑bath front unit and a 1‑bedroom, 1‑bath rear unit
- 1,011 square feet on a 0.13‑acre parcel
- Separate meters serve the two residential units
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
$18,919
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
3.98%
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%
$378,380
$378.4K
Cap Rate 7%
$270,271
$270.3K
Cap Rate 9%
$210,211
$210.2K
Market Conditions
NOI Build-Up for 1,011 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
$28.5K $28.20/SF
− Vacancy
−$1.5K −$1.47/SF
EGI
$27.0K $26.73/SF
− OpEx
−$8.1K −$8.02/SF
NOI
$18.9K $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%
$378,380
Cap Rate 7%
$270,271
Cap Rate 9%
$210,211
Alternative Uses
Best Use
Multifamily LT 5
$270.3K
$236.5K – $315.3K
NOI $18,919 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$251.4K
$220.0K – $293.3K
NOI $17,596 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$712.0K
$623.0K – $830.7K
NOI $49,840 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,311
Businesses Nearby
Explore this area
Business Placement
Demographics for 33409, FL
33,061
Population
13,715
Households
2.4
Avg Household Size
34
Median Age
27%
College-Educated
80%
High-School Grad
6.3 sq mi
ZIP Area
5,248
Density / Sq Mi
$65,206
Median Household Income
$34,994
Median Earnings
$1,633
Median Rent
$282,900
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 - Two residential units provide flexible occupancy with public water, public sewer, and on-site parking.
Where is this duplex located?
The property is located at 2960 Chickamauga Avenue West Palm Beach, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Legal duplex with a 4‑bedroom, 1‑bath front unit and a 1‑bedroom, 1‑bath rear unit; 1,011 square feet on a 0.13‑acre parcel; Separate meters serve the two residential units
