This partially renovated duplex presents a compelling investment opportunity with immediate rental income and long-term development potential. Constructed of durable CBS, the property features a newer roof installed in 2024 and is zoned multi-family medium density, allowing for up to five units. What appears to be a vacant lot next door is actually part of the property, offering additional land for future expansion or redevelopment.One unit has been moderately renovated with updates that include laminate flooring and appliances. The second unit has been fully renovated and professionally staged. It features updated kitchen cabinetry with a snack bar and is currently operating as a successful short-term rental, creating an attractive opportunity for diversified income streams.The property is equipped with two separate electric meters and one water meter, supporting ease of management for multiple units. With its combination of current cash flow, recent improvements, flexible zoning, and additional land, this duplex is well-suited for investors seeking both immediate returns and future development upside in a highly visible area close to beaches, PBIA and extensive dining and entertainment opportunities within minutes.
For sale
$399,700
7871 Terrace Road, Lake Worth, FL 33462
2beds
944sqft
Est.:
Duplex
Built in 1955
-- sqft lot
$380,800 Zestimate®
$423/sqft
$-- HOA
What's special
Laminate flooring
- 18 days |
- 822 |
- 100 |
Likely to sell faster than
Zillow last checked: 8 hours ago
Listing updated: December 18, 2025 at 11:06am
Listed by:
Noreen Payne 703-999-4214,
Lang Realty/Delray Beach,
Amy Stark Snook 954-445-4545,
Lang Realty/Delray Beach
Source: BeachesMLS,MLS#: RX-11148464
Originating MLS: Beaches MLS
Originating MLS: Beaches MLSTour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Window/Wall
Cooling
- Wall/Window Unit(s), A/C Unit
Appliances
- Included: Electric Range, Refrigerator, Range - Electric
Features
- Den/Family, Kitchen
- Flooring: Laminate
- Windows: Blinds
Interior area
- Total structure area: 944
- Total interior livable area: 944 sqft
Video & virtual tour
Property
Parking
- Parking features: Open, Open Parking
- Has uncovered spaces: Yes
Features
- Stories: 1
- Exterior features: Room for Pool
- Has view: Yes
- View description: Garden
- Waterfront features: None
Lot
- Size: 10,000 Square Feet
- Features: < 1/4 Acre
Details
- Parcel number: 00434510070000870
- Zoning: RM
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
- Attached to another structure: Yes
Materials
- Concrete
- Roof: Built-Up
Condition
- Resale
- New construction: No
- Year built: 1955
Utilities & green energy
- Electric: Electric Meter, Separate Electrical Meters
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected, Electricity Connected
Community & HOA
Community
- Features: None
- Subdivision: Tropical Terrace
HOA
- Services included: None
Location
- Region: Lake Worth
Financial & listing details
- Price per square foot: $423/sqft
- Tax assessed value: $256,161
- Annual tax amount: $8,337
- Date on market: 12/18/2025
- Listing terms: Cash,Conventional
- Tenant pays: Cable TV, Electricity
- Electric utility on property: Yes
Estimated market value
$380,800
$362,000 - $400,000
$2,238/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 12/18/2025 | Listed for sale | $399,700+11%$423/sqft |
Source:  BeachesMLS #RX-11148464 Report a problem | ||
| 10/13/2023 | Sold | $360,000-5.3%$381/sqft |
Source: BeachesMLS #RX-10894260 Report a problem | ||
| 8/21/2023 | Pending sale | $380,000$403/sqft |
Source: BeachesMLS #RX-10894260 Report a problem | ||
| 7/11/2023 | Price change | $380,000-5%$403/sqft |
Source: BeachesMLS #RX-10894260 Report a problem | ||
| 6/27/2023 | Listed for sale | $399,900$424/sqft |
Source: BeachesMLS #RX-10894260 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $7,846 +162.2% | $256,161 +259.3% |
| 2023 | $2,992 +5.2% | $71,300 +10% |
| 2022 | $2,845 +23.4% | $64,818 +10% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$2,642/mo
Principal & interest
$1922
Property taxes
$580
Home insurance
$140
Climate risks
Neighborhood: 33462
Nearby schools
GreatSchools rating
- 2/10Rolling Green Elementary SchoolGrades: PK-5Distance: 0.3 mi
- 3/10Boynton Beach Community High SchoolGrades: PK,6-12Distance: 1.9 mi
- 3/10Congress Community Middle SchoolGrades: 6-8Distance: 3.4 mi
Schools provided by the listing agent
- Elementary: Rolling Green Elementary School
- Middle: Congress Community Middle School
- High: Boynton Beach Community High
Source: BeachesMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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