Duplex with New
New
For Sale
$650,000
702 Fernwood Dr, West Palm Beach, FL 33405
Residential Income, West Palm Beach, FL
Property Size1,821 SF
Price / SF$356.95
Days on Market2
Property Features for 702 Fernwood Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
SF7 (cit
Bedrooms
6
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 6, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 5
Parking
2
Subdivision
FERNWOOD
Lot features
Flood Zone, < 1/4 Acre
Standard status
Active
APN
74434404160000510
Size
1,821 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
FERNWOOD LTS 51 TO 53 INC
Tax Annual Amount
8515
Legal Description
FERNWOOD LTS 51 TO 53 INC
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Ceiling Fan(s), Electric
Water source
Public
Building Details
Year built
1945
Floors in Building
1
Flooring type
Tile
Building materials
CBS (Concrete Block Structure), Block
Roof type
Composition
Listing Agency:
Douglas Elliman
(305) 695-6070
Listed By:
John McSherry · License #3535188
(610) 805-9699
Added: Oct 28
Last Checked: Oct 29 at 6:06PM
MLS# A12113114
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,821-square-foot duplex was built in 1945 and has a new roof. The concrete-block structure has tile flooring, central heating and air conditioning, and ceiling fans. Its two separate entrances provide distinct access to the units.
The property is located in West Palm Beach, Florida. Public water and sewer service the site, and cable is available.
The property is located in West Palm Beach, Florida. Public water and sewer service the site, and cable is available.
Key Highlights
- 1,821‑square‑foot duplex
- New roof
- Concrete‑block construction with tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,077
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,540
$681.5K
Cap Rate 7%
$486,814
$486.8K
Cap Rate 9%
$378,633
$378.6K
Market Conditions
NOI Build-Up for 1,821 SF
Gross rent
$51.4K $28.20/SF
− Vacancy
−$2.7K −$1.47/SF
EGI
$48.7K $26.73/SF
− OpEx
−$14.6K −$8.02/SF
NOI
$34.1K $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 Rate 5%
$681,540
Cap Rate 7%
$486,814
Cap Rate 9%
$378,633
Alternative Uses
Best Use
Multifamily LT 5
$486.8K
$426.0K – $568.0K
NOI $34,077 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$452.8K
$396.2K – $528.2K
NOI $31,694 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,772 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,005
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate entrances serve the duplex, with central air conditioning and public water and sewer.
Where is this duplex located?
The property is located at 702 Fernwood Dr West Palm Beach, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,821‑square‑foot duplex; New roof; Concrete‑block construction with tile flooring
