Duplex with Separate Utility
For Sale
$650,000
280 NE 40th Court, Oakland Park, FL 33334
MULTI_FAMILY - Oakland Park, FL
Property Size1,781 SF
Price / SF$364.96
Days on Market189
Property Features for 280 NE 40th Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Resident
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 3
Subdivision
BONIELLO GARDENS 1 ADD
Directions
East on Commercial Blvd, make South on N Andrews, Left on NW 41st, and Right on NE 3rd Ave
Standard status
Active
APN
494222260080
Size
1,781 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
BONIELLO GARDENS 1 ADD 66-13 B LOT 2 BLK 2
Tax Annual Amount
7973
Legal Description
BONIELLO GARDENS 1 ADD 66-13 B LOT 2 BLK 2
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1968
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle, Composition
Listing Agency:
Dalton Wade Inc
(888) 668-8283
Listed By:
Rogerio Alves · License #3186063
(954) 798-3311
Added: Feb 5
Changed: Aug 12
Last Checked: Aug 13 at 2:06AM
MLS# F10550393
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.
Duplex located at 280 NE 40th Court in Oakland Park, Florida. The property includes two separate units with private entrances. Each unit has separate electric and water meters, allowing tenants to be responsible for their own utilities. Interior finishes include ceramic tile flooring. The home is heated with electric heat and cooled with central air.
The duplex was built in 1968 and features block construction. Public water and public sewer serve the property. The roof is composition/shingle.
Room layout includes four bedrooms and two bathrooms across the duplex, supporting either an owner-occupant setup or tenant-rental configuration. Please do not disturb the tenants; the property is intended to be easy to show.
The duplex was built in 1968 and features block construction. Public water and public sewer serve the property. The roof is composition/shingle.
Room layout includes four bedrooms and two bathrooms across the duplex, supporting either an owner-occupant setup or tenant-rental configuration. Please do not disturb the tenants; the property is intended to be easy to show.
Key Highlights
- Two‑unit duplex with private entrances
- Separate electric and water meters for each unit
- 1,781 square feet total under roof
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
$29,689
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
4.57%
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%
$593,780
$593.8K
Cap Rate 7%
$424,129
$424.1K
Cap Rate 9%
$329,878
$329.9K
Market Conditions
NOI Build-Up for 1,781 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
$44.9K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$42.4K $23.81/SF
− OpEx
−$12.7K −$7.14/SF
NOI
$29.7K $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%
$593,780
Cap Rate 7%
$424,129
Cap Rate 9%
$329,878
Alternative Uses
Best Use
Multifamily LT 5
$424.1K
$371.1K – $494.8K
NOI $29,689 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$391.3K
$342.4K – $456.5K
NOI $27,391 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$903.6K
$790.6K – $1.05M
NOI $63,250 @ 7.0% cap · market cap 9.73%
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
2,654
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two units, private entrances, and separate electric and water meters for tenant billing.
Where is this duplex located?
The property is located at 280 NE 40th Court Oakland Park, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑unit duplex with private entrances; Separate electric and water meters for each unit; 1,781 square feet total under roof
