Duplex with Updated Kitchens and Private
For Sale
Under Contract
$550,000
4727 Myrtle Lane, West Palm Beach, FL 33417
MULTI_FAMILY - West Palm Beach, FL
Property Size1,710 SF
Lot Size0.23 Acres
Price / SF$321.64
Days on Market96
Property Features for 4727 Myrtle Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RH
Bedrooms
6
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 6
Pets allowed
Yes, No
Subdivision
MERLIN PARK REVISED
Elementary school
Egret Lake
Middle school
Bear Lakes
High school
Palm Beach Lakes
Directions
From N Military Trail: Turn west onto Myrtle Ln; property is on the north side just past West St.
Standard status
Active Under Contract
APN
00424325030000500
Size
1,710 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MERLIN PARK REV PL LT 50
Tax Annual Amount
11802
Legal Description
MERLIN PARK REV PL LT 50
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s), Zoned
Water source
Public
Building Details
Year built
1963
Floors in Building
1
Number of units
2
Flooring type
Tile, Wood, Tile - Ceramic
Building materials
CBS, Frame, Stucco
Roof type
Composition
Listing Agency:
KW Reserve Palm Beach · Keller Williams Realty
(561) 966-4000
Listed By:
Loodmy Jacques · License #3222697
(561) 678-5584
Added: May 8
Changed: Aug 11
Last Checked: Aug 11 at 11:06PM
MLS# B26026108
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 income-producing duplex features two separate units, 4727 and 4729 Myrtle Lane, each with private entrances. Unit 4729 is currently tenant-occupied. Interiors include bright, open-concept living and dining areas with neutral tile flooring, recessed lighting, and a functional flow. Kitchens are updated with granite countertops, rich wood cabinetry, and stainless steel appliances. Central heating and zoned central air with ceiling fans support year-round comfort. The homes are served by public water and a septic tank, with cable available. The property was built in 1963 and has a composition roof.
Set on a 0.23-acre lot, the duplex also offers a large backyard and outdoor space, along with ample parking. Exterior materials include CBS, frame, and stucco construction. The layout includes multiple bedrooms and bathrooms across both units.
Zoned RH, the property is positioned for flexible use, whether seeking an owner-occupied option with rental support or an investment that combines live-and-lease convenience.
Set on a 0.23-acre lot, the duplex also offers a large backyard and outdoor space, along with ample parking. Exterior materials include CBS, frame, and stucco construction. The layout includes multiple bedrooms and bathrooms across both units.
Zoned RH, the property is positioned for flexible use, whether seeking an owner-occupied option with rental support or an investment that combines live-and-lease convenience.
Key Highlights
- Two separate units: 4727 & 4729 Myrtle Lane with private entrances
- Unit 4729 currently tenant‑occupied
- 0.23‑acre lot with large backyard and outdoor space plus ample 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
$32,000
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
5.82%
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%
$640,000
$640.0K
Cap Rate 7%
$457,143
$457.1K
Cap Rate 9%
$355,556
$355.6K
Market Conditions
NOI Build-Up for 1,710 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
$48.2K $28.20/SF
− Vacancy
−$2.5K −$1.47/SF
EGI
$45.7K $26.73/SF
− OpEx
−$13.7K −$8.02/SF
NOI
$32.0K $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%
$640,000
Cap Rate 7%
$457,143
Cap Rate 9%
$355,556
Alternative Uses
Best Use
Multifamily LT 5
$457.1K
$400.0K – $533.3K
NOI $32,000 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$425.2K
$372.0K – $496.0K
NOI $29,762 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,299 @ 7.0% cap · market cap 15.33%
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
1,356
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-unit duplex with updated kitchens and private entrances, including a tenant-occupied unit 4729 and RH zoning.
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: Two separate units: 4727 & 4729 Myrtle Lane with private entrances; Unit 4729 currently tenant‑occupied; 0.23‑acre lot with large backyard and outdoor space plus ample parking
