Updated Duplex with Private
For Sale
$724,998
400 NE 2nd Street, Boynton Beach, FL 33435
Two residential units offer renovated interiors, central A/C, and shared laundry facilities.
Property Size2,503 SF
Price / SF$289.65
Days on Market231
Property Features for 400 NE 2nd Street
General Information
Standard status
Active
Size
2,503 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,370
Amenities
private patio
laundry area
Building Details
Building Size
2,503 SF
Year Built
1975
Year Renovated
2017
Listing Agency:
Douglas Elliman
Listed By:
Brandon Tillemans · License #3466853
(954) 805-0906
Source:
Pamandtoni
Added: Feb 27
Changed: Oct 8
Last Checked: Oct 15 at 6:55AM
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 Douglas Elliman
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1975, this duplex contains two 2-bedroom, 2-bath residences updated in 2017 with renovated kitchens, bathrooms, flooring, appliances, and central A/C systems. Each unit includes a private outdoor patio. A shared laundry area is equipped with a newer washer and dryer. The property also includes an oversized fenced lot, on-site parking, and a driveway that was re-asphalted and striped in 2022. There is no HOA.
The property is located at 400 NE 2nd St in Boynton Beach’s downtown redevelopment district, directly across from the City Hall & Library Complex. It is near I-95, Ocean Ave, downtown Boynton Beach, and the beach, with new residential and retail projects underway and planned nearby.
The property is located at 400 NE 2nd St in Boynton Beach’s downtown redevelopment district, directly across from the City Hall & Library Complex. It is near I-95, Ocean Ave, downtown Boynton Beach, and the beach, with new residential and retail projects underway and planned nearby.
Key Highlights
- Two 2‑bedroom, 2‑bath units
- Both residences updated in 2017
- Private outdoor patio for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,725
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$834,500
$834.5K
Cap Rate 7%
$596,071
$596.1K
Cap Rate 9%
$463,611
$463.6K
Market Conditions
NOI Build-Up for 2,503 SF
Gross rent
$63.1K $25.20/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$59.6K $23.81/SF
− OpEx
−$17.9K −$7.14/SF
NOI
$41.7K $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%
$834,500
Cap Rate 7%
$596,071
Cap Rate 9%
$463,611
Alternative Uses
Best Use
Multifamily LT 5
$596.1K
$521.6K – $695.4K
NOI $41,725 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$549.9K
$481.2K – $641.6K
NOI $38,494 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,393 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,297
Businesses Nearby
Explore this area
Business Placement
Demographics for 33435, FL
37,318
Population
20,058
Households
1.9
Avg Household Size
45
Median Age
32%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
5,741
Density / Sq Mi
$66,612
Median Household Income
$35,488
Median Earnings
$1,846
Median Rent
$306,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer renovated interiors, central A/C, and shared laundry facilities.
Where is this duplex located?
The property is located at 400 NE 2nd Street Boynton Beach, FL.
What is the asking price?
The asking price for this property is $724,998.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath units; Both residences updated in 2017; Private outdoor patio for each unit
