Remodeled Duplex With Separate
New
For Sale
$595,000
4737 BOATMAN Street, Lake Worth, FL 33463
Residential Income, Lake Worth, FL
Property Size1,570 SF
Lot Size0.21 Acres
Price / SF$378.98
Days on Market7
Property Features for 4737 BOATMAN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 2
Window features
Blinds
Pets allowed
Yes, No
Fencing
Fenced
Subdivision
GREENLAND 5
Lot features
Corner Lot
Elementary school
Greenacres
Middle school
L. C. Swain
High school
John I. Leonard
Directions
Military Trail to Boatman
Standard status
Active
APN
00424424080150250
Size
1,570 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GREENLAND PL 5 LTS 25 TO 27 INC & WLY 10 FT OF LOT 28 BLK 15
Tax Annual Amount
6664
Legal Description
GREENLAND PL 5 LTS 25 TO 27 INC & WLY 10 FT OF LOT 28 BLK 15
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
indoor laundry room
Building Details
Year built
1974
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Keller Williams Realty Services
(561) 245-4000
Listed By:
Marilene Cacapava · License #3525619
(561) 860-6211
Added: Aug 27
Changed: Sep 2
Last Checked: Sep 2 at 5:06AM
MLS# B26069681
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 duplex contains two residences, each arranged with two bedrooms and one bathroom. Both units have been remodeled with refreshed kitchens featuring granite countertops and stainless steel appliances, along with updated bathrooms. Ceramic tile flooring, central heating, and central air conditioning serve the property, while each residence has its own electric and water meter. An indoor laundry room provides separate laundry space.
The property occupies a 0.21-acre fenced lot in Lake Worth and carries RM zoning. Public water and septic service are in place, with cable available. Constructed in 1974, the building has wood siding and a composition roof. Both units are currently occupied under annual leases.
The property occupies a 0.21-acre fenced lot in Lake Worth and carries RM zoning. Public water and septic service are in place, with cable available. Constructed in 1974, the building has wood siding and a composition roof. Both units are currently occupied under annual leases.
Key Highlights
- Two‑unit duplex with 1,570 square feet of property size
- Each residence includes 2 bedrooms and 1 bathroom
- 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
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
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
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 leased residences offer updated finishes, individual utility metering, and dedicated indoor laundry.
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‑unit duplex with 1,570 square feet of property size; Each residence includes 2 bedrooms and 1 bathroom; Remodeled kitchens with granite countertops and stainless steel appliances
