Duplex with Guest
For Sale
$1,949,000
643 36th Street, West Palm Beach, FL 33407
Residential Income, West Palm Beach, FL
Property Size3,643 SF
Lot Size0.28 Acres
Price / SF$534
Days on Market348
Property Features for 643 36th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SF7(ci
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 3, Bathroom 5, Bedroom 6, Bedroom 7, Bedroom 5, Bedroom 8, Bathroom 1, Bedroom 1
Pool private
1
Subdivision
NORTHWOOD ADD
Directions
Drive north on Dixie Highway/US 1. Left to 25th St/US 1. Right to Broadway/US 1. Left to 36th St. Right to Pinewood Ave. Turn right. Property is on the right.
Standard status
Active
APN
74434309050360230
Size
3,643 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
NORTHWOOD ADD LTS 23 & 24 BLK 36
Tax Annual Amount
20055
Legal Description
NORTHWOOD ADD LTS 23 & 24 BLK 36
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
pool
hot tub
fire feature
furnished seating zones
updated landscaping
deck areas
outdoor dining space
common living areas
full kitchen
additional kitchen facilities
keyless entry
lighting updates
Building Details
Year built
1927
Floors in Building
2
Number of units
2
Flooring type
Wood, Tile
Building materials
Stucco
Listing Agency:
Beycome of Florida LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(844) 239-2663
Added: Oct 22, 2025
Changed: Oct 1
Last Checked: Oct 4 at 2:06PM
MLS# R11134339
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-style property includes a primary residence and a separate guest house across 3,643 square feet on a 0.28-acre lot. The layout provides 8 bedrooms and 5 bathrooms, with common living areas, a full kitchen in the main residence, and additional kitchen facilities in the guest house. Interior improvements include updated decor, contemporary furnishings, wood and tile flooring, keyless entry, lighting updates, and a reconfigured layout. Central air and additional window or wall/window cooling systems are present, along with central and electric heating.
Outdoor improvements include a private pool, hot tub, fire feature, deck areas, landscaped grounds, outdoor dining, and several furnished seating areas. The property was built in 1927 and is served by public water and public sewer. Located at 643 36th Street in West Palm Beach, the property is near downtown, transportation options, and local amenities. Furnishings may be included, and existing reservations may be transferable.
Outdoor improvements include a private pool, hot tub, fire feature, deck areas, landscaped grounds, outdoor dining, and several furnished seating areas. The property was built in 1927 and is served by public water and public sewer. Located at 643 36th Street in West Palm Beach, the property is near downtown, transportation options, and local amenities. Furnishings may be included, and existing reservations may be transferable.
Key Highlights
- 8‑bedroom, 5‑bath duplex‑style property with a separate guest house
- 3,643 square feet on a 0.28‑acre lot
- Sleeping configurations support up to 22 occupants
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
$68,173
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
3.50%
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%
$1,363,460
$1.4M
Cap Rate 7%
$973,900
$973.9K
Cap Rate 9%
$757,478
$757.5K
Market Conditions
NOI Build-Up for 3,643 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
$102.7K $28.20/SF
− Vacancy
−$5.3K −$1.47/SF
EGI
$97.4K $26.73/SF
− OpEx
−$29.2K −$8.02/SF
NOI
$68.2K $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%
$1,363,460
Cap Rate 7%
$973,900
Cap Rate 9%
$757,478
Alternative Uses
Best Use
Multifamily LT 5
$973.9K
$852.2K – $1.14M
NOI $68,173 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$905.8K
$792.6K – $1.06M
NOI $63,404 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$2.57M
$2.24M – $2.99M
NOI $179,592 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Explore this area
Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with separate guest accommodations, private outdoor amenities, and flexible sleeping arrangements.
Where is this duplex located?
The property is located at 643 36th Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,949,000.
What are key features of this property?
This property features: 8‑bedroom, 5‑bath duplex‑style property with a separate guest house; 3,643 square feet on a 0.28‑acre lot; Sleeping configurations support up to 22 occupants
