Concrete Duplex with Conversion
For Sale
$925,000
1421 SE 4th Street, Deerfield Beach, FL 33441
Residential Income, Deerfield Beach, FL
Property Size2,764 SF
Lot Size0.17 Acres
Price / SF$334.66
Days on Market89
Property Features for 1421 SE 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-15
Bedrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 2
Pets allowed
Yes, No, Cats OK, Dogs OK
Subdivision
THE COVE
Elementary school
Deerfield Beach
Middle school
Deerfield Beach
High school
Deerfield Beach
Standard status
Active
APN
484305081080
Size
2,764 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE COVE 32-48 B LOT 15 BLK 7
Tax Annual Amount
16505
Legal Description
THE COVE 32-48 B LOT 15 BLK 7
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Number of units
3
Flooring type
Tile
Building materials
Concrete
Roof type
Barrel
Listing Agency:
Local Real Estate Co
(561) 210-5485
Listed By:
Stephen A Mossini · License #3249161
(561) 789-6391
Added: Jul 2
Changed: Sep 20
Last Checked: Sep 28 at 5:06PM
MLS# B26048042
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 1964 concrete duplex contains 2764 square feet on a 0.17-acre lot. The interior includes four bedrooms and four bathrooms, with tile flooring, central heating, and electric cooling supplemented by ceiling fans. A barrel roof, public water, public sewer, and cable availability are also reported. Plans are included for a potential conversion to a quadplex.
Located at 1421 SE 4th Street in Deerfield Beach, the property is near the ocean, beaches, dining, and shopping. The existing configuration and documented redevelopment plans provide a clear physical profile for review by an investor or owner-occupant.
Located at 1421 SE 4th Street in Deerfield Beach, the property is near the ocean, beaches, dining, and shopping. The existing configuration and documented redevelopment plans provide a clear physical profile for review by an investor or owner-occupant.
Key Highlights
- Duplex with plans for conversion to a quadplex
- 2764 square feet on a 0.17‑acre lot
- Four bedrooms and four bathrooms
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
$46,075
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
4.98%
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%
$921,500
$921.5K
Cap Rate 7%
$658,214
$658.2K
Cap Rate 9%
$511,944
$511.9K
Market Conditions
NOI Build-Up for 2,764 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
$69.7K $25.20/SF
− Vacancy
−$3.8K −$1.39/SF
EGI
$65.8K $23.81/SF
− OpEx
−$19.7K −$7.14/SF
NOI
$46.1K $16.67/SF
Area
Broward 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%
$921,500
Cap Rate 7%
$658,214
Cap Rate 9%
$511,944
Alternative Uses
Best Use
Multifamily LT 5
$658.2K
$575.9K – $767.9K
NOI $46,075 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$607.3K
$531.4K – $708.5K
NOI $42,508 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,161 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,109
Businesses Nearby
Explore this area
Business Placement
Demographics for 33441, FL
29,311
Population
15,225
Households
1.9
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,106
Density / Sq Mi
$57,257
Median Household Income
$35,163
Median Earnings
$1,544
Median Rent
$381,700
Median Home Value
Check the figures for this property
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 - The property has RM-15 zoning, public water and public sewer, with concrete construction.
Where is this duplex located?
The property is located at 1421 SE 4th Street Deerfield Beach, FL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Duplex with plans for conversion to a quadplex; 2764 square feet on a 0.17‑acre lot; Four bedrooms and four bathrooms
