Remodeled Duplex with Separate
For Sale
$595,000
4737 BOATMAN Street, Lake Worth, FL 33463
Leased residences feature updated kitchens, private laundry space, and individually metered electric and water service.
Property Size1,570 SF
Days on Market21
Property Features for 4737 BOATMAN Street
General Information
Standard status
Active
Size
1,570 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,663
Amenities
indoor laundry room
Building Details
Building Size
1,570 SF
Year Built
1974
Tenancy
Multi
Listing Agency:
Keller Williams Realty Service
Listed By:
Marilene Cacapava · License #3525619
(561) 860-6211
Source:
Meyerlucas
Added: Sep 1
Changed: Sep 20
Last Checked: Sep 21 at 6:57AM
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 Keller Williams Realty Service
Investment Insights
Based on property information with market context.
This duplex at 4737 Boatman Street in Lake Worth, Florida, was built in 1974 and contains two two-bedroom, one-bathroom residences. Each unit has its own electric and water meter, while an indoor laundry room provides separate laundry space. The interiors have been remodeled with updated kitchens featuring granite countertops and stainless steel appliances, along with renovated bathrooms.
Both residences are occupied under annual leases. The property also includes an oversized lot, with any future building plans subject to confirmation with the city and Building Department. Showings are by appointment, and tenant privacy is requested.
Both residences are occupied under annual leases. The property also includes an oversized lot, with any future building plans subject to confirmation with the city and Building Department. Showings are by appointment, and tenant privacy is requested.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Separate electric and water meters for each residence
- Remodeled kitchens with granite countertops and stainless steel appliances
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
$26,172
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
4.40%
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%
$523,440
$523.4K
Cap Rate 7%
$373,886
$373.9K
Cap Rate 9%
$290,800
$290.8K
Market Conditions
NOI Build-Up for 1,570 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
$39.6K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.4K $23.81/SF
− OpEx
−$11.2K −$7.14/SF
NOI
$26.2K $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%
$523,440
Cap Rate 7%
$373,886
Cap Rate 9%
$290,800
Alternative Uses
Best Use
Multifamily LT 5
$373.9K
$327.2K – $436.2K
NOI $26,172 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$344.9K
$301.8K – $402.4K
NOI $24,146 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$1.11M
$967.5K – $1.29M
NOI $77,398 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
Explore this area
Business Placement
Demographics for 33463, FL
64,608
Population
22,696
Households
2.8
Avg Household Size
37
Median Age
25%
College-Educated
82%
High-School Grad
10.8 sq mi
ZIP Area
5,982
Density / Sq Mi
$68,697
Median Household Income
$34,846
Median Earnings
$1,721
Median Rent
$326,600
Median Home Value
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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 - Leased residences feature updated kitchens, private laundry space, and individually metered electric and water service.
Where is this duplex located?
The property is located at 4737 BOATMAN Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; Separate electric and water meters for each residence; Remodeled kitchens with granite countertops and stainless steel appliances
