Two-Unit
For Sale
Under Contract
$372,900
4108 Greenwood Avenue, West Palm Beach, FL 33407
Residential Income, West Palm Beach, FL
Property Size1,548 SF
Price / SF$240.89
Days on Market387
Property Features for 4108 Greenwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SF7(ci
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Fencing
Fenced
Subdivision
NORTHMORE ADD
Directions
Greenwood Ave. Between 41 And 40 St.
Standard status
Active Under Contract
APN
74434304130010050
Size
1,548 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
74434304130010050
Tax Annual Amount
5939
Legal Description
74434304130010050
Utilities
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s), Electric, Window Unit(s)
Building Details
Year built
1947
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Stucco
Roof type
Composition
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Arkeshia Love · License #3564977
(954) 993-8560
Added: Aug 21, 2025
Changed: Sep 11
Last Checked: Sep 11 at 8:06AM
MLS# R11117674
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 1,548-square-foot duplex contains two separate residential units, each equipped with its own electric meter. The property includes three bedrooms and two bathrooms, with tile flooring, stucco construction, a composition roof, and electric heating. Cooling is provided by window or wall/window units. Built in 1947, the property is fenced and currently occupied by long-term tenants.
Located in West Palm Beach, Florida, the duplex is identified as 4108 Greenwood Avenue. Its SF7(ci zoning designation and two-unit configuration provide the core property details for evaluating the existing residential income use.
Located in West Palm Beach, Florida, the duplex is identified as 4108 Greenwood Avenue. Its SF7(ci zoning designation and two-unit configuration provide the core property details for evaluating the existing residential income use.
Key Highlights
- Two separate units within a 1,548‑square‑foot duplex
- Each unit has its own electric meter
- Three bedrooms and two bathrooms
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
$28,969
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
7.77%
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%
$579,380
$579.4K
Cap Rate 7%
$413,843
$413.8K
Cap Rate 9%
$321,878
$321.9K
Market Conditions
NOI Build-Up for 1,548 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 $28.20/SF
− Vacancy
−$2.3K −$1.47/SF
EGI
$41.4K $26.73/SF
− OpEx
−$12.4K −$8.02/SF
NOI
$29.0K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /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%
$579,380
Cap Rate 7%
$413,843
Cap Rate 9%
$321,878
Alternative Uses
Best Use
Multifamily LT 5
$413.8K
$362.1K – $482.8K
NOI $28,969 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$384.9K
$336.8K – $449.0K
NOI $26,942 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$1.09M
$953.9K – $1.27M
NOI $76,313 @ 7.0% cap · market cap 20.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Fenced residential property with tile flooring and individual electric meters serving each unit.
Where is this duplex located?
The property is located at 4108 Greenwood Avenue West Palm Beach, FL.
What is the asking price?
The asking price for this property is $372,900.
What are key features of this property?
This property features: Two separate units within a 1,548‑square‑foot duplex; Each unit has its own electric meter; Three bedrooms and two bathrooms
