Duplex Residential Income
For Sale
$575,000
3088 Prince Drive, Lake Worth, FL 33461
Duplex residential income property offered for sale at 3088 Prince Drive in Lake Worth.
Property Size1,800 SF
Price / SF$319.44
Days on Market13
Property Features for 3088 Prince Drive
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Duplex
Amenities
Features: Fenced
Roof: Comp Shingle Roof, Composition Roll, Shingle
Fencing: Fenced
Sewer: Public Sewer, Public Sanitation, Sewer
Parcel Number: 00434430011270012, Tax Annual Amount: $7,743, Tax Legal Description: PALM BEACH FARMS CO PL NO 7 W 90 FT OF E 180 FT OF LT A (LESS N 26 FT RD R/W) BLK 127, Tax Year: 2025
Flooring: Ceramic Floor, Tile
Gross Income: $49,200, Net Operating Income: $40,000
Cooling: Ceiling Fan(s), Central Air, Wall/Window Unit(s)
Heating: Central
Features: Washer Hookup
Number Of Units Total: 2, Standard Status: Active, Total Actual Rent: 49200
Elementary School: Barton, Middle Or Junior School: Lake Worth Community Middle, High School: Lake Worth
Living Area: 1800, Architectural Style: One Story, Construction Materials: Concrete Block Construction, Frame, Frame With Stucco, Stories: 1, Year Built: 1960, Year Built Details: Resale, Building Area Total: 2000, Building Features: Outside Storage, Structure Type: Duplex
Operating Expense: 8000
County Or Parish: Palm Beach County, MLS Area Major: Palm Beach Farms Co Place, Subdivision Name: Palm Beach Farms Co Place
Leasable Area Units: Square Feet
Features: Gas Metered, Units In Community: 2
Utilities: Cable Connected, Cable Available
Water Source: Public
Building Details
Year Built
1960
Listing Agency:
The Keyes Company
(561) 577-0398
Listed By:
Michael J Johnston · License #3085829
(561) 577-0398
Source:
Riserealty
Added: Jul 22
Changed: Jul 26
Last Checked: Aug 2 at 5:48AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This duplex residential income property offers two separate units under one ownership structure, making it well suited for investors seeking a multi-unit setup. The property is listed for sale with a total size of 1,800 square feet.
The duplex is located at 3088 Prince Drive in Lake Worth, Florida (33461). For buyers and brokers, it provides a straightforward residential-income configuration with a compact, manageable footprint.
Because specific unit layouts, updates, or additional building details were not provided, interested parties should confirm interior features and current condition during due diligence.
The duplex is located at 3088 Prince Drive in Lake Worth, Florida (33461). For buyers and brokers, it provides a straightforward residential-income configuration with a compact, manageable footprint.
Because specific unit layouts, updates, or additional building details were not provided, interested parties should confirm interior features and current condition during due diligence.
Key Highlights
- Duplex residential income property for sale at 3088 Prince Drive, Lake Worth
- Built in 1960
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.4k | $25.20 |
| − Vacancy | −$2.5k | −$1.39 |
| EGI | $42.9k | $23.81 |
| − OpEx | −$12.9k | −$7.14 |
| NOI | $30.0k | $16.67 |
1,800 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$428.7K
$375.1K – $500.1K
NOI $30,006 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$395.5K
$346.0K – $461.4K
NOI $27,683 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,736 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 33461, FL
47,161
Population
18,095
Households
2.6
Avg Household Size
36
Median Age
17%
College-Educated
75%
High-School Grad
7.1 sq mi
ZIP Area
6,642
Density / Sq Mi
$61,218
Median Household Income
$31,503
Median Earnings
$1,615
Median Rent
$263,400
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 - Duplex residential income property offered for sale at 3088 Prince Drive in Lake Worth.
Where is this duplex located?
The property is located at 3088 Prince Drive Lake Worth, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Duplex residential income property for sale at 3088 Prince Drive, Lake Worth; Built in 1960
