Duplex With Rear
New
For Sale
$385,000
519 N J Street #1, Lake Worth, FL 33460
Two-building residential income property with a restoration project in front and an occupied rear cottage.
Property Size1,314 SF
Price / SF$305.07
Days on Market5
Property Features for 519 N J Street #1
General Information
Standard status
Active
Size
1,314 SF
Property subtype
Residential Income
Zoning
SF-TF-14 (city)
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,712
Building Details
Building Size
1,314 SF
Year Built
1925
Stories
1
Listing Agency:
LPT Realty, LLC
(561) 252-1407
Listed By:
Javaid M Iqbal · License #678817
(561) 252-1407
Source:
Laerrealty
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 12 at 3:34AM
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 at 519 N J Street, #1 includes a two-bedroom, one-bath main residence and a separate rear cottage. The front house offers a spacious kitchen, 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 in better condition and has a long-term tenant.
The property contains 1262 SF and is positioned five walkable blocks north of downtown Lake Worth Beach, within the Mango Groves area of the Northeast Lucerne Historic District. Zoning is SF-TF-14 under city classification.
The property contains 1262 SF and is positioned five walkable blocks north of downtown Lake Worth Beach, within the Mango Groves area of the Northeast Lucerne Historic District. Zoning is SF-TF-14 under city classification.
Key Highlights
- Duplex with 1262 SF, built in 1925
- Two‑bedroom, one‑bath main residence with large kitchen and fireplace
- Separate rear cottage is in better condition and has a long‑term tenant
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-building residential income property with a restoration project in front and an occupied rear cottage.
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 1262 SF, built in 1925; Two‑bedroom, one‑bath main residence with large kitchen and fireplace; Separate rear cottage is in better condition and has a long‑term tenant
