Duplex with Private
New
For Sale
$788,000
315317-315 Northlake Dr, North Palm Beach, FL 33408
Two residences have separate bedroom and bath configurations, individual laundry, and fenced outdoor areas.
Property Size2,084 SF
Price / SF$378.12
Days on Market6
Property Features for 315317-315 Northlake Dr
General Information
Standard status
Active
Size
2,084 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$10,931
Amenities
private laundry
central A/C
fenced backyards
Building Details
Buildings
1
Listing Agency:
Capital Investments R.E. Corp.
(561) 275-1554
Listed By:
Imran Gunes · License #3276953
(561) 906-5542
Source:
Exprealty
Added: Oct 4
Changed: Oct 8
Last Checked: Oct 7 at 3:05PM
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 Capital Investments R.E. Corp.
Investment Insights
Based on property information with market context.
This 2,084-square-foot duplex contains two residences: one with 2 bedrooms and 1 bathroom, and another with 3 bedrooms and 2 bathrooms. Each has private laundry, central A/C, tile flooring, and a fenced backyard. Impact glass is installed throughout except at the living room windows. A well and pump supply the sprinkler system.
Both units have month-to-month tenants. The property is in North Palm Beach, minutes from PGA Blvd, The Gardens Mall, restaurants, shopping, and the beach.
Both units have month-to-month tenants. The property is in North Palm Beach, minutes from PGA Blvd, The Gardens Mall, restaurants, shopping, and the beach.
Key Highlights
- 2,084‑square‑foot duplex with 2BR/1BA and 3BR/2BA units
- Private laundry, central A/C, and tile flooring in both residences
- Fenced backyard for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,740
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$694,800
$694.8K
Cap Rate 7%
$496,286
$496.3K
Cap Rate 9%
$386,000
$386.0K
Market Conditions
NOI Build-Up for 2,084 SF
Gross rent
$52.5K $25.20/SF
− Vacancy
−$2.9K −$1.39/SF
EGI
$49.6K $23.81/SF
− OpEx
−$14.9K −$7.14/SF
NOI
$34.7K $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 Rate 5%
$694,800
Cap Rate 7%
$496,286
Cap Rate 9%
$386,000
Alternative Uses
Best Use
Multifamily LT 5
$496.3K
$434.3K – $579.0K
NOI $34,740 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$457.9K
$400.6K – $534.2K
NOI $32,051 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,737 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,455
Businesses Nearby
Explore this area
Business Placement
Demographics for 33408, FL
18,965
Population
13,490
Households
1.4
Avg Household Size
58
Median Age
52%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
2,789
Density / Sq Mi
$91,390
Median Household Income
$65,606
Median Earnings
$1,885
Median Rent
$502,900
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 residences have separate bedroom and bath configurations, individual laundry, and fenced outdoor areas.
Where is this duplex located?
The property is located at 315317-315 Northlake Dr North Palm Beach, FL.
What is the asking price?
The asking price for this property is $788,000.
What are key features of this property?
This property features: 2,084‑square‑foot duplex with 2BR/1BA and 3BR/2BA units; Private laundry, central A/C, and tile flooring in both residences; Fenced backyard for each unit
