Occupied Duplex with
For Sale
$565,000
528 Churchill Road, West Palm Beach, FL 33405
Residential Income, West Palm Beach, FL
Property Size1,644 SF
Lot Size0.14 Acres
Price / SF$343.67
Days on Market158
Property Features for 528 Churchill Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
SF7 (city)
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1
Window features
Blinds
Patio and Porch features
Patio
Pets allowed
Yes, No
Fencing
Fenced
Subdivision
COLONIAL ESTS
Lot features
Fruit Tree(s), Sidewalks
Elementary school
South Olive
Middle school
Conniston Community
High school
Forest Hill
Directions
I-95 to Southern Blvd EAST South (Right) on Dixie West (Right) on Churchill house on left at end.
Standard status
Active
APN
74434404040210130
Size
1,644 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COLONIAL ESTS LTS 13 & 14 BLK 21
Tax Annual Amount
6520
Legal Description
COLONIAL ESTS LTS 13 & 14 BLK 21
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump, Ceiling Fan(s), Ductless, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Tile, Laminate
Building materials
Frame, Stucco
Roof type
Flat
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Rose Chery · License #3632807
(954) 543-1063
Added: Mar 29
Changed: Aug 31
Last Checked: Sep 2 at 3:06PM
MLS# B26008553
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.
Built in 1925, this duplex contains 1,644 square feet across two tenant-occupied units on a 0.14-acre corner lot. The property has frame and stucco construction, tile and laminate flooring, a patio, and a fenced yard. Public water and sewer serve the property, with a flat roof and multiple heating and cooling systems, including heat pumps and window units. Impact windows are installed throughout, and the roof was replaced about 5 yrs ago.
The property is located in West Palm Beach near Downtown West Palm Beach, the Intracoastal, Antique Row, and Palm Beach International Airport. Its SF7 (city) zoning, two-unit configuration, and existing occupancy provide a clear residential income profile. Showings are by appointment, with tenant privacy noted in the property information.
The property is located in West Palm Beach near Downtown West Palm Beach, the Intracoastal, Antique Row, and Palm Beach International Airport. Its SF7 (city) zoning, two-unit configuration, and existing occupancy provide a clear residential income profile. Showings are by appointment, with tenant privacy noted in the property information.
Key Highlights
- 1,644 square feet across two tenant‑occupied units
- 0.14‑acre corner lot with a fenced yard and patio
- Impact windows throughout
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
$30,765
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
5.45%
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%
$615,300
$615.3K
Cap Rate 7%
$439,500
$439.5K
Cap Rate 9%
$341,833
$341.8K
Market Conditions
NOI Build-Up for 1,644 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
$46.4K $28.20/SF
− Vacancy
−$2.4K −$1.47/SF
EGI
$44.0K $26.73/SF
− OpEx
−$13.2K −$8.02/SF
NOI
$30.8K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /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%
$615,300
Cap Rate 7%
$439,500
Cap Rate 9%
$341,833
Alternative Uses
Best Use
Multifamily LT 5
$439.5K
$384.6K – $512.8K
NOI $30,765 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$408.8K
$357.7K – $476.9K
NOI $28,613 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,046 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 33405, FL
19,369
Population
9,557
Households
2
Avg Household Size
41
Median Age
34%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
4,304
Density / Sq Mi
$82,945
Median Household Income
$46,450
Median Earnings
$1,432
Median Rent
$401,200
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 tenant-occupied units feature impact windows and a replaced roof.
Where is this duplex located?
The property is located at 528 Churchill Road West Palm Beach, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 1,644 square feet across two tenant‑occupied units; 0.14‑acre corner lot with a fenced yard and patio; Impact windows throughout
