Duplex with Separate
For Sale
$550,000
Pending
3194 Prince Drive, Lake Worth, FL 33461
Residential Income, Lake Worth Beach, FL
Property Size1,736 SF
Lot Size0.18 Acres
Days on Market53
Property Features for 3194 Prince Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM
Bedrooms
5
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 1
Window features
Blinds
Patio and Porch features
Patio
Pets allowed
No, Yes
Exterior features
Storage
Fencing
Gate, Fenced
Subdivision
PALM BEACH FARMS CO 7
Elementary school
Barton
Middle school
Lake Worth
High school
Lake Worth
Standard status
Pending
APN
00434430011250013
Size
1,736 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM BEACH FARMS CO PL NO 7 E 1/4 OF LT A (LESS N 26 FT RD R/W) BLK 125
Tax Annual Amount
7313
Legal Description
PALM BEACH FARMS CO PL NO 7 E 1/4 OF LT A (LESS N 26 FT RD R/W) BLK 125
Utilities
Utilities
Water Available
Sewer type
Septic Tank, Public Sewer
Heating system
Central
Cooling system
Central Air, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
CBS, Stucco
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
KW Reserve Palm Beach · Keller Williams Realty
(561) 966-4000
Listed By:
Loodmy Jacques · License #3222697
(561) 678-5584
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 29 at 7:06PM
MLS# B26050026
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 at 3194 Prince Drive contains 1,736 square feet across a 3-bedroom, 2-bath unit and a 2-bedroom, 1-bath unit. Each residence has its own fenced backyard area and dedicated parking. Separate water and electric meters serve the units, while included laundry equipment adds functional convenience. The property features CBS and stucco construction, tile flooring, central heating and air conditioning, a patio, exterior storage, and a shingle roof installed in 2014.
Built in 1964 and situated in Lake Worth Beach, the property is zoned RM. Public water is available, with public sewer and septic tank systems listed in the property records. The 0.18-acre parcel is located in Palm Beach County and carries a 33461 postal code.
Built in 1964 and situated in Lake Worth Beach, the property is zoned RM. Public water is available, with public sewer and septic tank systems listed in the property records. The 0.18-acre parcel is located in Palm Beach County and carries a 33461 postal code.
Key Highlights
- 1,736‑SF duplex with 3BR/2BA and 2BR/1BA units
- Separate water and electric meters for each unit
- Private fenced backyard space and dedicated parking
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
$28,939
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
5.26%
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%
$578,780
$578.8K
Cap Rate 7%
$413,414
$413.4K
Cap Rate 9%
$321,544
$321.5K
Market Conditions
NOI Build-Up for 1,736 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
$43.7K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$41.3K $23.81/SF
− OpEx
−$12.4K −$7.14/SF
NOI
$28.9K $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%
$578,780
Cap Rate 7%
$413,414
Cap Rate 9%
$321,544
Alternative Uses
Best Use
Multifamily LT 5
$413.4K
$361.7K – $482.3K
NOI $28,939 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$381.4K
$333.7K – $445.0K
NOI $26,698 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,581 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,036
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 - Two residential units offer private outdoor space, dedicated parking, and separate water and electric metering.
Where is this duplex located?
The property is located at 3194 Prince Drive Lake Worth, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,736‑SF duplex with 3BR/2BA and 2BR/1BA units; Separate water and electric meters for each unit; Private fenced backyard space and dedicated parking
