1229 S M St Lake Worth, FL 33460
Pineapple Beach NeighborhoodEstimated payment $3,587/month
Total Views
1,168
--
Bed
--
Bath
1,246
Sq Ft
$421
Price per Sq Ft
Highlights
- Water Views
- Cooling Available
- Ceramic Tile Flooring
- Room in yard for a pool
About This Home
Amazing income & investment opportunity. Currently operating at a 6.8% cap rate. This large Duplex is 2 Bedrooms / 2 Bath on one side and 1 Bedroom 1 Bath on the other, separate electric, and plenty of parking. Situated on an oversized corner lot with room for a pool and/or future expansion. The location in East Lake Worth Beach is only a couple blocks from the beautiful intracoastal waterways, downtown shops, amazing restaurants, golf and more. Just sit back and collect $. The owner has done all the hard work here for the new owners. 100% Occupied with great Tenants.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,883
Year Built
- Built in 1957
Home Design
- Duplex
- Tar and Gravel Roof
Interior Spaces
- 1,246 Sq Ft Home
- 1-Story Property
- Ceramic Tile Flooring
- Water Views
Utilities
- Cooling Available
- Cable TV Available
Additional Features
- Room in yard for a pool
- 6,750 Sq Ft Lot
Listing and Financial Details
- Assessor Parcel Number 38434427010550160
- Seller Considering Concessions
Community Details
Overview
- Association fees include insurance, ground maintenance, sewer, trash, water
- 2 Units
- Lake Worth Town Of Add 1 Subdivision
Building Details
- Operating Expense $14,023
- Net Operating Income $39,677
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $7,883 | $299,143 | -- | -- |
| 2023 | $7,203 | $271,948 | $0 | $0 |
| 2022 | $6,453 | $247,225 | $0 | $0 |
| 2021 | $5,302 | $190,800 | $66,000 | $124,800 |
| 2020 | $4,677 | $162,981 | $66,000 | $96,981 |
| 2019 | $4,228 | $160,144 | $61,600 | $98,544 |
| 2018 | $3,692 | $123,772 | $44,895 | $78,877 |
| 2017 | $2,403 | $97,512 | $0 | $0 |
| 2016 | $2,300 | $67,947 | $0 | $0 |
| 2015 | $2,156 | $62,849 | $0 | $0 |
| 2014 | $1,720 | $58,195 | $0 | $0 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/16/2025 04/16/25 | Price Changed | $525,000 | -7.1% | $421 / Sq Ft |
| 04/10/2025 04/10/25 | For Sale | $564,999 | 0.0% | $453 / Sq Ft |
| 08/08/2023 08/08/23 | For Rent | $2,700 | 0.0% | -- |
| 07/13/2023 07/13/23 | For Rent | $2,700 | 0.0% | -- |
| 06/18/2023 06/18/23 | For Rent | $2,700 | 0.0% | -- |
| 05/22/2023 05/22/23 | For Rent | $2,700 | -- | -- |
Source: BeachesMLS
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $300,000 | The Closing Source Inc | |
| Warranty Deed | $250,000 | Florida Ttl & Guarantee Agcy | |
| Quit Claim Deed | $74,625 | Attorney | |
| Warranty Deed | $199,000 | Cooperative Ttl Agcy Of Fl I | |
| Quit Claim Deed | -- | Attorney | |
| Warranty Deed | $69,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $240,000 | New Conventional | |
| Closed | $248,000 | Commercial | |
| Previous Owner | $187,500 | New Conventional | |
| Previous Owner | $149,250 | Construction | |
| Previous Owner | $67,500 | Unknown | |
| Previous Owner | $67,500 | Unknown | |
| Previous Owner | $68,916 | FHA |
Source: Public Records
Similar Home in Lake Worth, FL
Source: BeachesMLS
MLS Number: R11080470
APN: 38-43-44-27-01-055-0160
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