Duplex With Rear
For Sale
$385,000
519 N J Street 1, Lake Worth, FL 33460
Two-bedroom main residence includes a fireplace, original Dade County Pine floors, and a separate rear rental unit.
Property Size1,262 SF
Days on Market16
Property Features for 519 N J Street 1
General Information
Standard status
Active
Size
1,262 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,711
Building Details
Building Size
1,262 SF
Year Built
1925
Buildings
2
Listing Agency:
LPT Realty, LLC
(561) 252-1407
Listed By:
Javaid M Iqbal · License #678817
(561) 252-1407
Source:
Meyerlucas
Added: Aug 4
Changed: Aug 18
Last Checked: Aug 18 at 4:38AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1925, this duplex includes a two-bedroom, one-bath main residence and a separate cottage positioned behind it. The primary home features a large kitchen, a fireplace connected to natural gas, and original Dade County Pine flooring, with some areas covered by linoleum. Restoration is needed in the main residence, while the rear cottage is described as being in better condition and has a long-term tenant.
The property is in Lake Worth Beach’s Mango Groves area, within the Northeast Lucerne Historic District. Downtown is approximately five walkable blocks south. The location and two-structure layout provide a residential income configuration with an existing rental component.
The property is in Lake Worth Beach’s Mango Groves area, within the Northeast Lucerne Historic District. Downtown is approximately five walkable blocks south. The location and two-structure layout provide a residential income configuration with an existing rental component.
Key Highlights
- Duplex with a two‑bedroom, one‑bath main residence and separate rear cottage
- Built in 1925
- Main residence includes a large kitchen and fireplace connected to the natural gas line
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
$21,037
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
5.46%
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%
$420,740
$420.7K
Cap Rate 7%
$300,529
$300.5K
Cap Rate 9%
$233,744
$233.7K
Market Conditions
NOI Build-Up for 1,262 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
$31.8K $25.20/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$30.1K $23.81/SF
− OpEx
−$9.0K −$7.14/SF
NOI
$21.0K $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%
$420,740
Cap Rate 7%
$300,529
Cap Rate 9%
$233,744
Alternative Uses
Best Use
Multifamily LT 5
$300.5K
$263.0K – $350.6K
NOI $21,037 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$277.3K
$242.6K – $323.5K
NOI $19,409 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$888.8K
$777.7K – $1.04M
NOI $62,214 @ 7.0% cap · market cap 16.16%
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
1,854
Businesses Nearby
Explore this area
Business Placement
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
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-bedroom main residence includes a fireplace, original Dade County Pine floors, and a separate rear rental unit.
Where is this duplex located?
The property is located at 519 N J Street 1 Lake Worth, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Duplex with a two‑bedroom, one‑bath main residence and separate rear cottage; Built in 1925; Main residence includes a large kitchen and fireplace connected to the natural gas line
