Renovated Duplex with Impact
For Sale
$1,070,000
303 De Carie Street, Delray Beach, FL 33444
Permitted renovations include updated systems, a quartz-counter kitchen, and new appliances.
Property Size2,268 SF
Days on Market62
Property Features for 303 De Carie Street
General Information
Standard status
Active
Size
2,268 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$12,197
Building Details
Building Size
2,268 SF
Year Built
1958
Tenancy
Multi
Listing Agency:
United Realty Group Inc.
(561) 454-9053
Listed By:
Patrice Cadet · License #3356597
(561) 454-9053
Source:
Meyerlucas
Added: Jun 12
Changed: Aug 3
Last Checked: Aug 11 at 12:38PM
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 duplex, built in 1958, has undergone a comprehensive renovation with permitted work throughout the property. Improvements include a redesigned kitchen with quartz countertops and new appliances, impact windows, a metal roof, new air-conditioning units, upgraded ductwork, added insulation, soundproofing, and fully replaced plumbing. The property is configured as a duplex-villa with three bedrooms and two bathrooms, although the source does not specify whether those figures apply to one unit or the entire property.
The property is located on De Carie Street in Delray Beach, Florida, minutes from downtown Delray. Its updated building systems and interior finishes provide a substantially refreshed residential income property within the South Florida market.
The property is located on De Carie Street in Delray Beach, Florida, minutes from downtown Delray. Its updated building systems and interior finishes provide a substantially refreshed residential income property within the South Florida market.
Key Highlights
- Duplex‑villa in Delray Beach, Florida
- Built in 1958 and fully renovated with permitted work
- Updated kitchen with quartz countertops and new appliances
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
$37,807
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
3.53%
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%
$756,140
$756.1K
Cap Rate 7%
$540,100
$540.1K
Cap Rate 9%
$420,078
$420.1K
Market Conditions
NOI Build-Up for 2,268 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
$57.2K $25.20/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$54.0K $23.81/SF
− OpEx
−$16.2K −$7.14/SF
NOI
$37.8K $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%
$756,140
Cap Rate 7%
$540,100
Cap Rate 9%
$420,078
Alternative Uses
Best Use
Multifamily LT 5
$540.1K
$472.6K – $630.1K
NOI $37,807 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$498.3K
$436.0K – $581.3K
NOI $34,880 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,808 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
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 - Permitted renovations include updated systems, a quartz-counter kitchen, and new appliances.
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 $1,070,000.
What are key features of this property?
This property features: Duplex‑villa in Delray Beach, Florida; Built in 1958 and fully renovated with permitted work; Updated kitchen with quartz countertops and new appliances
