Building Details

Building Size 1,487 SF

Year Built 1945

Buildings 2

Listing Agency: EXP Realty LLC

Listed By: Roger Doyon · License #3446313 Show Phone

Source: Meyerlucas

Added: May 4 Changed: Oct 17 Last Checked: Oct 19 at 4:01PM

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Investment Insights

Based on property information with market context.

Built in 1945, this updated duplex property includes a primary residence with 2BR/1BA and a separate legal cottage with 1BR/1BA. The main home offers an open kitchen with bar seating, refinished original hardwood floors, impact-rated windows and doors, and a screened front porch.

Exterior improvements include a spacious backyard with a pergola-covered deck, fire pit seating area, new concrete driveway, and a 1-car garage. The detached cottage can accommodate guests, extended household use, or a separate rental arrangement, as supported by the existing legal configuration.

Key Highlights

• Legal detached 1BR/1BA guest cottage
• Main residence includes 2BR/1BA
• Impact windows and doors throughout the main home

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,788

Cap Rate

4.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$495,760 $495.8K

Cap Rate 7%

$354,114 $354.1K

Cap Rate 9%

$275,422 $275.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,487 SF

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 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 (±1% cap)

NOI $24,788 @ 7.0% cap · market cap 4.21%

Second Best

Apartment 5plus

$326.7K

$285.9K – $381.2K (±1% cap)

NOI $22,869 @ 7.0% cap · market cap 3.88%

Theoretical Best

Office A

$1.05M

$916.3K – $1.22M (±1% cap)

NOI $73,306 @ 7.0% cap · market cap 12.45%

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

1,029

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - A legal detached cottage provides additional residential space alongside the main home.

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 $589,000.

What are key features of this property?

This property features: Legal detached 1BR/1BA guest cottage; Main residence includes 2BR/1BA; Impact windows and doors throughout the main home