512 Bayberry Drive, Lake Park, FL 33403
Two completely separate residences on one lot, both renovated in 2023, with multiple parking options and an RV hook-up.
- Added:
- Nov 6, 2025
- Days on Market:
- 227
- Last Refresh:
- Jun 20 at 7:30 am
Property Features for 512 Bayberry Drive
General Information
- Standard status
- Active
- Size
- 2,694 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1958
Listing agent Michaelle Moise License #359063
Listing office Charles & Charles Realty LLC
Listing date Nov 6, 2025
Source Crexi
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 Charles & Charles Realty LLC
HighLights
- Two completely separate residences on one lot, built in 1958
- Both homes renovated in 2023 with 2‑year‑old roofs, new attic insulation, and impact windows and doors
- Each home features updated interiors, including kitchens with quartz counters and stainless steel appliances, plus remodeled bathrooms
- Front home: 2 bed/2 bath with a large bonus room, carport, and laundry room
- Rear home: 2 bed/1 bath with a bonus room and laundry room; added privacy with no street visibility
- Multiple parking options including carport, driveway, gravel area, and 2nd driveway, plus an RV hook‑up (RV does not convey)
Overview
Parking and access are well supported. There is a carport, driveway, gravel area, and a second driveway that together provide multiple parking spaces. An RV hook-up is also included; however, the listing notes that the RV does not convey.
With separate living spaces under one roofline of ownership, this configuration can suit tenants seeking long-term rentals, or operators interested in short-term rental flexibility. The combination of privacy in the rear unit and the shared-lot layout with dedicated parking areas can help streamline how the two homes are operated while keeping them functionally independent.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.9k | $25.20 |
| − Vacancy | −$3.7k | −$1.39 |
| EGI | $64.2k | $23.81 |
| − OpEx | −$19.2k | −$7.14 |
| NOI | $44.9k | $16.67 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lake Park
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0631962
- Latitude
- 26.7935488
