Two-Unit Duplex
For Sale
Under Contract
$530,000
320 SW 21ST Street, Fort Lauderdale, FL 33315
Residential Income, Fort Lauderdale, FL
Property Size1,476 SF
Lot Size0.15 Acres
Price / SF$359.08
Days on Market36
Property Features for 320 SW 21ST Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-15
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2
Patio and Porch features
Patio
Pets allowed
Yes, No
Exterior features
Storage
Subdivision
LAUDERDALE
Elementary school
Croissant Park
Middle school
New River
High school
Stranahan
Standard status
Active Under Contract
APN
504215015850
Size
1,476 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAUDERDALE 2-9 D LOT 6 BLK 110
Tax Annual Amount
9650
Legal Description
LAUDERDALE 2-9 D LOT 6 BLK 110
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1955
Floors in Building
1
Number of units
2
Flooring type
Terrazzo, Tile
Building materials
Concrete Block - With Stucco, Frame
Roof type
Composition, Shingle
Additional Structures
Storage
Listing Agency:
Douglas Elliman
(954) 874-0740
Listed By:
Rosemary S Purswell · License #3083420
(954) 562-8004
Added: Jul 31
Changed: Sep 2
Last Checked: Sep 4 at 1:06AM
MLS# B26058820
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 property comprises two separate residences on a 0.15-acre lot. The front home includes 2 bedrooms and 1 bathroom, while the rear residence offers 1 bedroom, 1 bathroom, and a den. The 1,476-square-foot property was built in 1955 and includes a patio, storage, tile and terrazzo flooring, window or wall/window cooling units, and concrete block with stucco and frame construction. Public water and sewer serve the property, with composition and shingle roofing.
The property is 0.9 mi from Broward Health, 2.5 mi from the airport, 2.0 mi from Port Everglades, and 1.9 mi from The FORT pickleball courts. RM-15 zoning and parking for cars and a recreation vehicle add practical flexibility.
The property is 0.9 mi from Broward Health, 2.5 mi from the airport, 2.0 mi from Port Everglades, and 1.9 mi from The FORT pickleball courts. RM-15 zoning and parking for cars and a recreation vehicle add practical flexibility.
Key Highlights
- Two separate residences with a combined 3 bedrooms, 2 bathrooms, and a den
- 1,476 square feet on a 0.15‑acre lot
- RM‑15 zoning
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
$24,605
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
4.64%
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%
$492,100
$492.1K
Cap Rate 7%
$351,500
$351.5K
Cap Rate 9%
$273,389
$273.4K
Market Conditions
NOI Build-Up for 1,476 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
$37.2K $25.20/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$35.1K $23.81/SF
− OpEx
−$10.5K −$7.14/SF
NOI
$24.6K $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%
$492,100
Cap Rate 7%
$351,500
Cap Rate 9%
$273,389
Alternative Uses
Best Use
Multifamily LT 5
$351.5K
$307.6K – $410.1K
NOI $24,605 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$316.6K
$277.1K – $369.4K
NOI $22,164 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$991.9K
$867.9K – $1.16M
NOI $69,431 @ 7.0% cap · market cap 13.10%
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
2,523
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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 - Separate residences provide distinct living areas with flexible rental and occupancy possibilities.
Where is this duplex located?
The property is located at 320 SW 21ST Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two separate residences with a combined 3 bedrooms, 2 bathrooms, and a den; 1,476 square feet on a 0.15‑acre lot; RM‑15 zoning
