Duplex with
For Sale
$849,900
1145 NE 17th Way, Fort Lauderdale, FL 33304
Residential Income, Fort Lauderdale, FL
Property Size1,593 SF
Lot Size0.15 Acres
Price / SF$533.52
Days on Market142
Property Features for 1145 NE 17th Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RC-15
Bedrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Spa
1
Pets allowed
Yes, No
Pool private
1
Exterior features
Awning(s), Barbecue, Garden, Outdoor Shower
Fencing
Fenced
Subdivision
PROGRESSO
Elementary school
Bennett
Middle school
Sunrise
High school
Fort Lauderdale
Standard status
Active
APN
494234044200
Size
1,593 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PROGRESSO 2-18 D LOT 1 BLK 160
Tax Annual Amount
15315
Legal Description
PROGRESSO 2-18 D LOT 1 BLK 160
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
pool
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic, Wood, Tile
Building materials
CBS, Stucco
Roof type
Flat, Rolled Hot Mop
Additional Structures
Gazebo
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Christopher B Galdieri · License #3402177
(954) 900-6062
Added: May 13
Changed: Oct 1
Last Checked: Oct 1 at 4:06PM
MLS# B26028121
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 legal duplex at 1145 NE 17th Way includes a 2BR/2BA main residence and a separate 1BR/1BA guest suite with its own full kitchen. The property contains 1,593 square feet on a 0.15-acre corner lot and includes a private pool, spa, fenced yard, one-car garage, outdoor shower, barbecue area, and garden. Impact windows and doors, a freshly painted exterior, CBS and stucco construction, central heating, and central air add to the physical profile. The home was built in 1960 and is zoned RC-15.
The property is in Fort Lauderdale’s Lake Ridge area, with the beach and Galleria redevelopment described as nearby. Public water and sewer serve the property, and it is currently operating as a short-term rental.
The property is in Fort Lauderdale’s Lake Ridge area, with the beach and Galleria redevelopment described as nearby. Public water and sewer serve the property, and it is currently operating as a short-term rental.
Key Highlights
- Legal duplex with 2BR/2BA main residence and 1BR/1BA guest suite
- 1,593 square feet on a 0.15‑acre oversized corner lot
- Private pool and spa with fenced outdoor area
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
$26,555
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
3.12%
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%
$531,100
$531.1K
Cap Rate 7%
$379,357
$379.4K
Cap Rate 9%
$295,056
$295.1K
Market Conditions
NOI Build-Up for 1,593 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
$40.1K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.9K $23.81/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.6K $16.67/SF
Area
Fort Lauderdale, 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%
$531,100
Cap Rate 7%
$379,357
Cap Rate 9%
$295,056
Alternative Uses
Best Use
Multifamily LT 5
$379.4K
$331.9K – $442.6K
NOI $26,555 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$341.7K
$299.0K – $398.7K
NOI $23,921 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$1.07M
$936.7K – $1.25M
NOI $74,935 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-unit property with a separate kitchen-equipped guest suite and short-term rental operation.
Where is this duplex located?
The property is located at 1145 NE 17th Way Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Legal duplex with 2BR/2BA main residence and 1BR/1BA guest suite; 1,593 square feet on a 0.15‑acre oversized corner lot; Private pool and spa with fenced outdoor area
