Duplex-Style Home with Two
For Sale
$490,000
633 Franklin Road, West Palm Beach, FL 33405
Separate entrances, kitchens, and living rooms support two-family or single-household use.
Property Size1,704 SF
Days on Market10
Property Features for 633 Franklin Road
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,089
Amenities
patio
fenced yard
impact windows
air conditioning
Building Details
Building Size
1,704 SF
Year Built
1925
Listing Agency:
The Keyes Company
Listed By:
Scott Pressman PA · License #3131178
(561) 601-7774
Source:
Meyerlucas
Added: Aug 24
Changed: Sep 2
Last Checked: Aug 31 at 9:24PM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This duplex-style residence, built in 1925, contains 6 bedrooms and 2 bathrooms within a flexible interior configuration. Separate entrances lead to two kitchens and two living rooms, allowing the property to function as a two-family residence or as one larger home. Two A/C units support climate control, while impact windows add a durable building feature.
The property includes an open patio and a fully fenced yard. There are no HOA fees. Its address on Franklin Road places it near Downtown West Palm Beach, major highways, restaurants, shopping, and entertainment venues.
The property includes an open patio and a fully fenced yard. There are no HOA fees. Its address on Franklin Road places it near Downtown West Palm Beach, major highways, restaurants, shopping, and entertainment venues.
Key Highlights
- 6‑bedroom, 2‑bathroom duplex‑style residence built in 1925
- Two separate entrances, kitchens, and living rooms
- Flexible layout for two‑family or single‑household use
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
$31,888
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
6.51%
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%
$637,760
$637.8K
Cap Rate 7%
$455,543
$455.5K
Cap Rate 9%
$354,311
$354.3K
Market Conditions
NOI Build-Up for 1,704 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
$48.1K $28.20/SF
− Vacancy
−$2.5K −$1.47/SF
EGI
$45.6K $26.73/SF
− OpEx
−$13.7K −$8.02/SF
NOI
$31.9K $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%
$637,760
Cap Rate 7%
$455,543
Cap Rate 9%
$354,311
Alternative Uses
Best Use
Multifamily LT 5
$455.5K
$398.6K – $531.5K
NOI $31,888 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$423.7K
$370.7K – $494.3K
NOI $29,657 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,004 @ 7.0% cap · market cap 17.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
971
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 - Separate entrances, kitchens, and living rooms support two-family or single-household use.
Where is this duplex located?
The property is located at 633 Franklin Road West Palm Beach, FL.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 6‑bedroom, 2‑bathroom duplex‑style residence built in 1925; Two separate entrances, kitchens, and living rooms; Flexible layout for two‑family or single‑household use
