Duplex with Two 2-Bedroom
For Sale
$675,000
1990 SW 9th Street, Fort Lauderdale, FL 33312
MULTI_FAMILY - Fort Lauderdale, FL
Property Size1,750 SF
Lot Size0.23 Acres
Price / SF$385.71
Days on Market61
Property Features for 1990 SW 9th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RD-15
Bedrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 2
Patio and Porch features
Deck
Pets allowed
Yes, No
Fencing
Perimeter
Subdivision
RIVERSIDE PARK
Elementary school
Croissant Park
Middle school
New River
High school
Stranahan
Standard status
Active
APN
504209120970
Size
1,750 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
RIVERSIDE PARK 7-24 B POR OF LOTS 25,26,27,DESC AS FOL: COMM SE COR LOT 25,SWLY 91.64 TO POB,CONT SWLY 71.37, NW 1.07,NELY 127.82,E 71, S 11
Tax Annual Amount
10188
Legal Description
RIVERSIDE PARK 7-24 B POR OF LOTS 25,26,27,DESC AS FOL: COMM SE COR LOT 25,SWLY 91.64 TO POB,CONT SWLY 71.37, NW 1.07,NELY 127.82,E 71, S 11
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit washer/dryer
fenced lot
Building Details
Year built
1987
Floors in Building
1
Number of units
4
Flooring type
Tile, Vinyl
Building materials
Block, CBS
Roof type
Composition, Shingle
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Anika Bembanaste · License #3594711
(954) 873-0803
Added: Jun 15
Changed: Aug 13
Last Checked: Aug 14 at 1:06PM
MLS# B26041029
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 duplex features two spacious 2-bedroom, 2-bathroom units on a fully fenced lot. Both units include in-unit washers and dryers, and the home is served by central heating and central air. Construction is block/CBS, with vinyl and tile flooring, and a deck on the property.
One unit has been updated with new flooring, vanities, kitchen countertops, a sink, mirrors, and lighting. Additional improvements include a newer AC system in one unit and a roof replacement in 2019. Utilities include public water and public sewer.
Zoned RD-15, the property is set up for flexible occupancy, with one unit currently leased and the second unit vacant and available for showings.
One unit has been updated with new flooring, vanities, kitchen countertops, a sink, mirrors, and lighting. Additional improvements include a newer AC system in one unit and a roof replacement in 2019. Utilities include public water and public sewer.
Zoned RD-15, the property is set up for flexible occupancy, with one unit currently leased and the second unit vacant and available for showings.
Key Highlights
- Two 2‑bedroom, 2‑bath units in a duplex layout
- 0.23‑acre fully fenced lot
- In‑unit washers and dryers in both units
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
$29,172
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
4.32%
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%
$583,440
$583.4K
Cap Rate 7%
$416,743
$416.7K
Cap Rate 9%
$324,133
$324.1K
Market Conditions
NOI Build-Up for 1,750 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
$44.1K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$41.7K $23.81/SF
− OpEx
−$12.5K −$7.14/SF
NOI
$29.2K $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%
$583,440
Cap Rate 7%
$416,743
Cap Rate 9%
$324,133
Alternative Uses
Best Use
Multifamily LT 5
$416.7K
$364.7K – $486.2K
NOI $29,172 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$375.4K
$328.5K – $438.0K
NOI $26,279 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,320 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex on a fully fenced lot with in-unit washers and dryers for both units, zoned RD-15.
Where is this duplex located?
The property is located at 1990 SW 9th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath units in a duplex layout; 0.23‑acre fully fenced lot; In‑unit washers and dryers in both units
