607 SW 3rd St Delray Beach, FL 33444
Legal duplex in Delray Beach, suitable for short-term rentals.
Property Features for 607 SW 3rd St
General Information
- Standard status
- Active
- Size
- 1,550 SF
- Lot size
- 0.18 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1945
Listing office Horizon Homes Realty Corp (305) 905-0996
Listing date Feb 19, 2026
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 Horizon Homes Realty Corp
Investment Insights
Based on property information with market context.
Key Highlights
- Legal Duplex in Delray Beach: Immediate rental income potential with a 2/2 and 1/1 unit.
- Short‑Term Rental Zoned: Perfect for Airbnb, capitalizing on the high‑demand vacation market.
- High Income Potential: 1/1 unit currently rented at $2,200 monthly.
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 | $39.1k | $25.20 |
| − Vacancy | −$2.1k | −$1.39 |
| EGI | $36.9k | $23.81 |
| − OpEx | −$11.1k | −$7.14 |
| NOI | $25.8k | $16.67 |
