Duplex with Two Separate
For Sale
Contact for pricing
Pending
4727 Myrtle Lane, West Palm Beach, FL 33417
Two separate units with updated kitchens, tile flooring, and ample parking, plus a large backyard for everyday and rental use.
Property Size1,988 SF
Days on Market84
Property Features for 4727 Myrtle Lane
General Information
Standard status
Pending
Size
1,988 SF
Property subtype
Multifamily
Zoning
RH
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1963
Units
2
Listing Agency:
KW Reserve Palm Beach
(561) 678-5584
Listed By:
Loodmy Jacques · License #3222697
Source:
Crexi
Added: May 21
Changed: Aug 8
Last Checked: Jul 24 at 6:01AM
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 KW Reserve Palm Beach
Investment Insights
Based on property information with market context.
This income-producing duplex includes two separate units, 4727 and 4729 Myrtle Lane, each with its own private entrance. Both units feature bright, open-concept living and dining areas with neutral tile flooring throughout and recessed lighting. The updated kitchens include granite countertops, rich wood cabinetry, stainless steel appliances, and modern fixtures, providing practical space for cooking and everyday use.
The property sits on a generously sized lot with ample parking and outdoor space. A large backyard adds flexibility for tenant enjoyment and potential future enhancements. The home is positioned for convenient access to major roads as well as shopping, dining, schools, and local amenities.
Unit 4729 is currently tenant-occupied, offering immediate rental occupancy, while the overall layout supports either long-term rental use or owner-occupancy with the flexibility to occupy one unit and lease the other. The combination of private entries, updated interiors, and outdoor space makes the property well-suited to buyers looking for a straightforward two-unit setup with functional, comfortable living areas for tenants.
The property sits on a generously sized lot with ample parking and outdoor space. A large backyard adds flexibility for tenant enjoyment and potential future enhancements. The home is positioned for convenient access to major roads as well as shopping, dining, schools, and local amenities.
Unit 4729 is currently tenant-occupied, offering immediate rental occupancy, while the overall layout supports either long-term rental use or owner-occupancy with the flexibility to occupy one unit and lease the other. The combination of private entries, updated interiors, and outdoor space makes the property well-suited to buyers looking for a straightforward two-unit setup with functional, comfortable living areas for tenants.
Key Highlights
- Duplex built in 1963 with two separate units: 4727 and 4729 Myrtle Lane
- Unit 4729 is currently tenant‑occupied, providing immediate rental income potential
- Both units feature spacious living and dining areas with tile flooring and recessed lighting
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
$37,202
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
6.76%
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%
$744,040
$744.0K
Cap Rate 7%
$531,457
$531.5K
Cap Rate 9%
$413,356
$413.4K
Market Conditions
NOI Build-Up for 1,988 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
$56.1K $28.20/SF
− Vacancy
−$2.9K −$1.47/SF
EGI
$53.1K $26.73/SF
− OpEx
−$15.9K −$8.02/SF
NOI
$37.2K $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%
$744,040
Cap Rate 7%
$531,457
Cap Rate 9%
$413,356
Alternative Uses
Best Use
Multifamily LT 5
$531.5K
$465.0K – $620.0K
NOI $37,202 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$494.3K
$432.5K – $576.7K
NOI $34,600 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$1.40M
$1.23M – $1.63M
NOI $98,004 @ 7.0% cap · market cap 17.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,356
Businesses Nearby
Explore this area
Business Placement
Demographics for 33417, FL
34,153
Population
20,450
Households
1.7
Avg Household Size
48
Median Age
26%
College-Educated
83%
High-School Grad
6.6 sq mi
ZIP Area
5,175
Density / Sq Mi
$50,077
Median Household Income
$35,036
Median Earnings
$1,533
Median Rent
$159,300
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 separate units with updated kitchens, tile flooring, and ample parking, plus a large backyard for everyday and rental use.
Where is this duplex located?
The property is located at 4727 Myrtle Lane West Palm Beach, 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: Duplex built in 1963 with two separate units: 4727 and 4729 Myrtle Lane; Unit 4729 is currently tenant‑occupied, providing immediate rental income potential; Both units feature spacious living and dining areas with tile flooring and recessed lighting
