Renovated Duplex with Rental
For Sale
$1,100,000
610 SE 2nd Avenue, Delray Beach, FL 33483
Residential Income, Delray Beach, FL
Property Size1,900 SF
Lot Size0.26 Acres
Price / SF$578.95
Days on Market52
Property Features for 610 SE 2nd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-1-A(
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
Window features
Blinds
Pets allowed
Yes, No
Fencing
Fenced
Subdivision
OSCEOLA PARK
Lot features
Oversized Lot
Elementary school
Pine Grove
Middle school
Carver Community
High school
Atlantic
Directions
East on Atlantic Ave, go South on S Swinto Ave, take a left onto SE 4th St, right on SE 3rd Ave, right on SE 6th St and left on SE 2nd Ave. Duplex is on your right.
Standard status
Active
APN
12434621010070400
Size
1,900 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OSCEOLA PARK LT 40 BLK 7
Tax Annual Amount
12227
Legal Description
OSCEOLA PARK LT 40 BLK 7
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1985
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Frame, Stucco
Roof type
Shingle
Listing Agency:
Lang Realty/Delray Beach
(561) 455-3300
Listed By:
Noreen Payne · License #3342729
(703) 999-4214
Added: Jul 9
Changed: Aug 20
Last Checked: Aug 29 at 6:06PM
MLS# B26050509
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.
This duplex in Delray Beach contains two separate residences totaling 1,900 square feet on a 0.26-acre lot. The unit mix includes one 3-bedroom, 2-bath residence and one 3-bedroom, 1-bath residence. Both units have been renovated and include in-unit laundry, while current occupancy provides an established rental-use configuration. The property was built in 1985, with a shingle roof replaced in 2021.
Located at 610 SE 2nd Avenue in the Osceola Park neighborhood, the property is near Atlantic Avenue and the beach. The neighborhood is described as walkable, with access by foot, bike, or golf cart to restaurants, boutique shopping, art galleries, entertainment, and downtown Delray Beach. Public water and public sewer serve the property, and the site is zoned R-1-A(.
Located at 610 SE 2nd Avenue in the Osceola Park neighborhood, the property is near Atlantic Avenue and the beach. The neighborhood is described as walkable, with access by foot, bike, or golf cart to restaurants, boutique shopping, art galleries, entertainment, and downtown Delray Beach. Public water and public sewer serve the property, and the site is zoned R-1-A(.
Key Highlights
- Two separate residences totaling 1,900 square feet
- Unit mix includes 3‑bedroom, 2‑bath and 3‑bedroom, 1‑bath residences
- 0.26‑acre lot in Osceola Park
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
$31,673
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
2.88%
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%
$633,460
$633.5K
Cap Rate 7%
$452,471
$452.5K
Cap Rate 9%
$351,922
$351.9K
Market Conditions
NOI Build-Up for 1,900 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
$47.9K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$45.2K $23.81/SF
− OpEx
−$13.6K −$7.14/SF
NOI
$31.7K $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%
$633,460
Cap Rate 7%
$452,471
Cap Rate 9%
$351,922
Alternative Uses
Best Use
Multifamily LT 5
$452.5K
$395.9K – $527.9K
NOI $31,673 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$417.4K
$365.3K – $487.0K
NOI $29,221 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,666 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,524
Businesses Nearby
Explore this area
Business Placement
Demographics for 33483, FL
13,103
Population
9,493
Households
1.4
Avg Household Size
59
Median Age
57%
College-Educated
93%
High-School Grad
3.8 sq mi
ZIP Area
3,448
Density / Sq Mi
$117,854
Median Household Income
$60,502
Median Earnings
$2,306
Median Rent
$755,700
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 renovated residences provide separate living areas, in-unit laundry, and current rental occupancy.
Where is this duplex located?
The property is located at 610 SE 2nd Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two separate residences totaling 1,900 square feet; Unit mix includes 3‑bedroom, 2‑bath and 3‑bedroom, 1‑bath residences; 0.26‑acre lot in Osceola Park
