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    1944 NE 5Th St Deerfield Beach, FL 33441

    View on Map
    Sponsored
    For Sale
    $2,299,000

    MULTI_FAMILY - Deerfield Beach, FL

    Property size:
    2,549 SF
    Days on Market:
    21
    Last Refresh:
    Mar 17 at 4:06 pm

    Property Features for 1944 NE 5Th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Spa
    1
    Zoning
    RM-10
    Rooms
    Bathroom 5, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 3, Bathroom 4
    Bedrooms
    6
    APN
    484305021480
    Patio and Porch features
    Porch
    Exterior features
    Balcony
    Size
    2,549 SF

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Ceiling Fan(s), Electric, Central Air

    Building Details

    Year built
    1947
    Floors in Building
    1
    Number of units
    44
    Flooring type
    Tile, Clay
    Building materials
    Block
    Roof type
    Shingle, Composition

    We can help!

    Listing Contact
    Mariela Lechin

    United Realty Group Inc (954) 450-2000

    Listing agent Mariela Lechin (954) 450-2000 License #3037329

    Listing date Feb 24, 2026

    MLS# F10488055 Listing URL

    Copyright © 2026 BeachesMLS / Flexmls. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Deerfield Beach Multifamily Resort Property

    Located just two blocks from the beach, this established resort property in Deerfield Beach, Florida, presents a significant cash-producing opportunity. The property, currently operating as a short-term rental, has bookings for the upcoming season and offers potential for future growth and increased income. Officially designated as a fourplex, the layout includes a 2/2 unit that has been divided into a 1/1 unit with a full kitchen and bathroom, and a studio, also equipped with a full kitchen and bathroom. The property is currently being rented as one single-family home and four villas. Known as The Island Resort, this property provides multiple avenues for investment and future development in a prime location in Southeast Florida. The Island Resort at Deerfield Beach has been operating as a short-term rental property for the past three years.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Deerfield Beach
    County
    Broward
    State
    Florida
    Longitude
    -80.078377
    Latitude
    26.31884

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    FAQs

    What type of property is this?
    Short term rental property - Established short-term rental property near the beach with income potential.
    Where is this short term rental property located?
    The property is located at 1944 NE 5Th St Deerfield Beach, FL.
    What is the asking price?
    The asking price for this property is $2,299,000.
    What are key features of this property?
    This property features: - Prime location: Two blocks from the beach in South East Florida.; - Established short-term rental with hundreds of 5-star reviews.; - Cash-producing property with existing bookings for next season.
    (954) 450-2000
    Request Owner's contact information
    1944 NE 5Th St Deerfield Beach, FL 33441
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    Deerfield Beach, FL 33441
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1944 NE 5Th St Deerfield Beach, FL 33441
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    We can help!
    Listing Contact
    Mariela Lechin
    Real Estate License ID: 3037329
    (954) 450-2000 (954) 770-5249
    Learn more
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