Duplex with Detached Guest
For Sale
$600,000
915 N K Street, Lake Worth, FL 33460
MULTI_FAMILY - Lake Worth Beach, FL
Property Size1,487 SF
Lot Size0.16 Acres
Price / SF$403.50
Days on Market96
Property Features for 915 N K Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SF-TF-14 (city)
Bedrooms
3
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1
Patio and Porch features
Patio, Deck, Porch
Pets allowed
No, Yes
Exterior features
Storage
Fencing
Gate, Fenced
Subdivision
LAKE WORTH TOWN OF
Elementary school
North Grade K-8
Middle school
Lake Worth
High school
Lake Worth
Standard status
Active
APN
38434421152800130
Size
1,487 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWN OF LAKE WORTH LT 13 BLK 280
Tax Annual Amount
9326
Legal Description
TOWN OF LAKE WORTH LT 13 BLK 280
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Wall/Window Unit(s), Ceiling Fan(s), Window Unit(s)
Water source
Public
Amenities
screened-in front porch
pergola-covered deck
fire pit seating area
impact windows and doors
refinished original hardwood floors
open kitchen with bar seating
Building Details
Year built
1945
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Wood, Tile
Building materials
Vinyl Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Roger Doyon · License #3446313
(305) 343-1711
Added: May 4
Changed: Aug 7
Last Checked: Aug 7 at 3:06PM
MLS# B26023974
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 an updated main home with 2BR/1BA living space. The interior features a bright open kitchen with bar seating, refinished original hardwood floors, and impact windows and doors. Outdoor living includes a screened-in front porch, along with a spacious backyard that offers a pergola-covered deck and a fire pit seating area. The property also includes a legal detached 1BR/1BA guest cottage, which can support rental income, guests, or an in-law suite. A new concrete driveway leads to a 1-car garage.
The home sits on a 0.16-acre lot and was built in 1945. Exterior features include storage, and the yard has fencing with a gate. Utilities include cable available, and services include public water and public sewer.
Additional building systems include central heating and central air, with ceiling fans and window unit options. The roof is shingle, and construction is vinyl siding. Flooring includes wood, vinyl, and tile.
The home sits on a 0.16-acre lot and was built in 1945. Exterior features include storage, and the yard has fencing with a gate. Utilities include cable available, and services include public water and public sewer.
Additional building systems include central heating and central air, with ceiling fans and window unit options. The roof is shingle, and construction is vinyl siding. Flooring includes wood, vinyl, and tile.
Key Highlights
- Legal detached 1BR/1BA guest cottage plus 2BR/1BA main home
- Impact windows and doors
- Screened‑in front porch with pergola‑covered deck and fire pit seating
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
$24,788
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
4.13%
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%
$495,760
$495.8K
Cap Rate 7%
$354,114
$354.1K
Cap Rate 9%
$275,422
$275.4K
Market Conditions
NOI Build-Up for 1,487 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
$37.5K $25.20/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$35.4K $23.81/SF
− OpEx
−$10.6K −$7.14/SF
NOI
$24.8K $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%
$495,760
Cap Rate 7%
$354,114
Cap Rate 9%
$275,422
Alternative Uses
Best Use
Multifamily LT 5
$354.1K
$309.9K – $413.1K
NOI $24,788 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$326.7K
$285.9K – $381.2K
NOI $22,869 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$1.05M
$916.3K – $1.22M
NOI $73,306 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
698
Businesses Nearby
Explore this area
Business Placement
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
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 - Updated main home offers 2BR/1BA living space plus a legal detached 1BR/1BA guest cottage.
Where is this duplex located?
The property is located at 915 N K Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Legal detached 1BR/1BA guest cottage plus 2BR/1BA main home; Impact windows and doors; Screened‑in front porch with pergola‑covered deck and fire pit seating
