Updated Residential Income
New
For Sale
$459,900
506 5TH Terrace, Palm Beach Gardens, FL 33418
The residence pairs an upstairs primary suite with a screened patio and a renovated kitchen.
Property Size1,488 SF
Price / SF$309.07
Days on Market3
Property Features for 506 5TH Terrace
General Information
Standard status
Active
Size
1,488 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,284
Amenities
patio
Building Details
Building Size
1,488 SF
Year Built
1980
Listing Agency:
The Keyes Company
Listed By:
Marc E Schafler · License #3203488
(561) 531-2004
Source:
Pposf
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 3 at 2:43AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This 1,488-square-foot residence, built in 1980, has an open living area with vinyl plank flooring and recessed LED lighting. The kitchen includes white shaker cabinets, an island, quartz counters, herringbone tile backsplash, and stainless steel appliances. An upstairs primary suite includes a bathroom with a frameless glass shower and custom tile. The ground-floor patio is screened and features a skylight and brick accents.
The property is in Glenwood at PGA National in Palm Beach Gardens, steps from community amenities. Golf membership is not mandatory.
The property is in Glenwood at PGA National in Palm Beach Gardens, steps from community amenities. Golf membership is not mandatory.
Key Highlights
- 1,488‑square‑foot residence built in 1980
- Renovated kitchen with island, quartz counters, and stainless steel appliances
- Upstairs primary suite with frameless glass shower
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
$22,884
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
4.98%
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%
$457,680
$457.7K
Cap Rate 7%
$326,914
$326.9K
Cap Rate 9%
$254,267
$254.3K
Market Conditions
NOI Build-Up for 1,488 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
$43.6K $29.28/SF
− Vacancy
−$2.0K −$1.32/SF
EGI
$41.6K $27.96/SF
− OpEx
−$18.7K −$12.58/SF
NOI
$22.9K $15.38/SF
Area
Palm Beach County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$457,680
Cap Rate 7%
$326,914
Cap Rate 9%
$254,267
Alternative Uses
Best Use
Apartment 5plus
$326.9K
$286.1K – $381.4K
NOI $22,884 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$916.9K – $1.22M
NOI $73,355 @ 7.0% cap · market cap 15.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Explore this area
Business Placement
Demographics for 33418, FL
43,383
Population
21,573
Households
2
Avg Household Size
53
Median Age
59%
College-Educated
97%
High-School Grad
45.8 sq mi
ZIP Area
947
Density / Sq Mi
$123,405
Median Household Income
$59,127
Median Earnings
$2,304
Median Rent
$608,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The residence pairs an upstairs primary suite with a screened patio and a renovated kitchen.
Where is this residential income property located?
The property is located at 506 5TH Terrace Palm Beach Gardens, FL.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 1,488‑square‑foot residence built in 1980; Renovated kitchen with island, quartz counters, and stainless steel appliances; Upstairs primary suite with frameless glass shower
