Turnkey Renovated Duplex
For Sale
Contact for pricing
303 De Carie Street, Delray Beach, FL 33444
Fully renovated 3-bed, 2-bath duplex-villa with impact windows, metal roof, new HVAC, and updated plumbing.
Property Size2,412 SF
Price / SF$456.05
Days on Market64
Property Features for 303 De Carie Street
General Information
Standard status
Active
Size
2,412 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Building Details
Year Built
1958
Tenancy
Multi
Listing Agency:
United Realty Group Inc.
(561) 454-9053
Listed By:
Patrice Cadet · License #3356597
Source:
Crexi
Added: Jun 10
Changed: Jul 10
Last Checked: Aug 12 at 10:23AM
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 United Realty Group Inc.
Investment Insights
Based on property information with market context.
This turnkey duplex-villa has been fully renovated with permitted updates throughout. Each side offers a 3-bedroom, 2-bath layout, with modern finishes designed for comfortable day-to-day living. Improvements include impact windows, a metal roof, new AC units, updated ductwork, insulation, and soundproofing, along with completely new plumbing. The kitchen features quartz countertops and top-of-the-line appliances, giving the home a clean, contemporary feel.
The property is located at 303 De Carie Street in Delray Beach, Florida. It sits on an oversized lot, providing outdoor space beyond the existing footprint. The lot is described as having room to add two separate 10-by-20 pools.
For buyers seeking flexibility, the duplex configuration supports multiple living and rental strategies, including occupying one side while renting the other or leasing both sides as separate residences. With the major systems and interior components updated, the property is positioned for straightforward move-in or rental readiness based on the upgrades already completed.
The property is located at 303 De Carie Street in Delray Beach, Florida. It sits on an oversized lot, providing outdoor space beyond the existing footprint. The lot is described as having room to add two separate 10-by-20 pools.
For buyers seeking flexibility, the duplex configuration supports multiple living and rental strategies, including occupying one side while renting the other or leasing both sides as separate residences. With the major systems and interior components updated, the property is positioned for straightforward move-in or rental readiness based on the upgrades already completed.
Key Highlights
- Fully renovated 3‑bed, 2‑bath duplex‑villa (built in 1958) with updated modern finishes throughout
- Impact windows and metal roof installed, with new insulation and soundproofing
- New HVAC units with ductwork added/updated
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
$40,208
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
3.66%
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%
$804,160
$804.2K
Cap Rate 7%
$574,400
$574.4K
Cap Rate 9%
$446,756
$446.8K
Market Conditions
NOI Build-Up for 2,412 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
$60.8K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$57.4K $23.81/SF
− OpEx
−$17.2K −$7.14/SF
NOI
$40.2K $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%
$804,160
Cap Rate 7%
$574,400
Cap Rate 9%
$446,756
Alternative Uses
Best Use
Multifamily LT 5
$574.4K
$502.6K – $670.1K
NOI $40,208 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$529.9K
$463.7K – $618.3K
NOI $37,095 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,907 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
486
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
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 - Fully renovated 3-bed, 2-bath duplex-villa with impact windows, metal roof, new HVAC, and updated plumbing.
Where is this duplex located?
The property is located at 303 De Carie Street Delray Beach, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully renovated 3‑bed, 2‑bath duplex‑villa (built in 1958) with updated modern finishes throughout; Impact windows and metal roof installed, with new insulation and soundproofing; New HVAC units with ductwork added/updated
