8-Bedroom Duplex with Private
For Sale
$1,750,000
683 Dover Street, Boca Raton, FL 33487
Residential Income, Boca Raton, FL
Property Size3,828 SF
Lot Size0.24 Acres
Price / SF$457.16
Days on Market167
Property Features for 683 Dover Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
R3 (city)
Bedrooms
8
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 7, Bathroom 1, Bedroom 6, Bedroom 8, Bathroom 4, Bedroom 1, Bathroom 5, Bathroom 6, Bedroom 4, Bathroom 2
Window features
Blinds, Skylight(s)
Patio and Porch features
Patio
Pets allowed
No, Yes
Exterior features
Balcony
Subdivision
DELRAY MNR
Elementary school
J. C. Mitchell
Middle school
Boca Raton Community
High school
Boca Raton
Standard status
Active
APN
06434705020140181
Size
3,828 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DELRAY MANORS LT 18 (LESS W 24 FT) & LT 20 (LESS E 1 FT) BLK 14
Tax Annual Amount
14850
Legal Description
DELRAY MANORS LT 18 (LESS W 24 FT) & LT 20 (LESS E 1 FT) BLK 14
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
private patios
Building Details
Year built
1981
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile - Ceramic
Building materials
CBS, Stucco
Roof type
Composition, Shingle
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Monika Kowalski · License #3333548
(561) 532-7414
Added: Mar 28
Changed: Sep 10
Last Checked: Sep 10 at 1:06PM
MLS# B26008211
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 contains 3,828 square feet on a 0.24-acre lot, with each residence arranged as a four-bedroom, three-bath home. The interiors include open living areas, modern kitchens, ceramic tile and carpet flooring, central air, ceiling fans, and separate entrances. Private patios provide dedicated outdoor space for each unit, while a new composition shingle roof adds a recent exterior improvement. The property is identified as under construction and uses CBS and stucco construction.
Located in Boca Raton, the property is near beaches, Mizner Park, Florida Atlantic University, and schools described in the source information as top-rated. Public water and public sewer serve the property, with cable available. R3 city zoning supports its residential configuration.
Located in Boca Raton, the property is near beaches, Mizner Park, Florida Atlantic University, and schools described in the source information as top-rated. Public water and public sewer serve the property, with cable available. R3 city zoning supports its residential configuration.
Key Highlights
- 3,828‑square‑foot duplex on a 0.24‑acre lot
- Two 4‑bedroom, 3‑bath residences with separate entrances
- Private patios and modern kitchens in both units
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
$63,812
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
3.65%
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%
$1,276,240
$1.3M
Cap Rate 7%
$911,600
$911.6K
Cap Rate 9%
$709,022
$709.0K
Market Conditions
NOI Build-Up for 3,828 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
$96.5K $25.20/SF
− Vacancy
−$5.3K −$1.39/SF
EGI
$91.2K $23.81/SF
− OpEx
−$27.3K −$7.14/SF
NOI
$63.8K $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%
$1,276,240
Cap Rate 7%
$911,600
Cap Rate 9%
$709,022
Alternative Uses
Best Use
Multifamily LT 5
$911.6K
$797.7K – $1.06M
NOI $63,812 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$841.0K
$735.9K – $981.2K
NOI $58,872 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $188,712 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
968
Businesses Nearby
Explore this area
Business Placement
Demographics for 33487, FL
20,644
Population
13,644
Households
1.5
Avg Household Size
53
Median Age
60%
College-Educated
97%
High-School Grad
6.7 sq mi
ZIP Area
3,081
Density / Sq Mi
$93,816
Median Household Income
$48,927
Median Earnings
$2,382
Median Rent
$573,100
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 - Two residences feature open interiors, separate entries, modern kitchens, and outdoor patio areas.
Where is this duplex located?
The property is located at 683 Dover Street Boca Raton, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 3,828‑square‑foot duplex on a 0.24‑acre lot; Two 4‑bedroom, 3‑bath residences with separate entrances; Private patios and modern kitchens in both units
