2-Unit Duplex with Separate
For Sale
$559,000
417 SW 3rd St, Hallandale Beach, FL 33009
Residential Income, Hallandale Beach, FL
Property Size1,716 SF
Price / SF$325.76
Days on Market77
Property Features for 417 SW 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RS-6
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 1
Parking
8
Window features
Blinds
Subdivision
HALLANDALE GARDEN PARK
Standard status
Active
APN
514228260190
Size
1,716 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HALLANDALE GARDEN PARK 40-46 B LOT 5 BLK 2
Tax Annual Amount
9709
Legal Description
HALLANDALE GARDEN PARK 40-46 B LOT 5 BLK 2
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
back patio
Building Details
Year built
1971
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
CBSConcreteBlockStructure, Block
Roof type
Shingle
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Concetta Di Guida · License #3348200
(954) 226-6437
Added: Jul 18
Changed: Oct 1
Last Checked: Oct 1 at 11:06PM
MLS# A11926805
Copyright © 2026 Miami REALTORS®. 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 1,716-square-foot duplex contains two vacant residences, each laid out with two bedrooms and one bathroom. The property has been partially remodeled, with ceramic tile flooring throughout, central heating and air conditioning, and separate electric and water meters. Eight parking spaces are positioned at the front, and a rear patio provides additional outdoor space. The building dates to 1971 and has a shingle roof and public sewer service.
The property is within walking distance of the beach, Gulfstream Park, casinos, parks, and Aventura Mall. Public transportation is also accessible nearby. Rental restrictions are not indicated for the property.
The property is within walking distance of the beach, Gulfstream Park, casinos, parks, and Aventura Mall. Public transportation is also accessible nearby. Rental restrictions are not indicated for the property.
Key Highlights
- Two vacant units, each with 2 bedrooms and 1 bathroom
- 1,716 square feet
- Eight front parking spaces and a rear patio
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
$28,605
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
5.12%
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%
$572,100
$572.1K
Cap Rate 7%
$408,643
$408.6K
Cap Rate 9%
$317,833
$317.8K
Market Conditions
NOI Build-Up for 1,716 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
$43.2K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$40.9K $23.81/SF
− OpEx
−$12.3K −$7.14/SF
NOI
$28.6K $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%
$572,100
Cap Rate 7%
$408,643
Cap Rate 9%
$317,833
Alternative Uses
Best Use
Multifamily LT 5
$408.6K
$357.6K – $476.8K
NOI $28,605 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$377.0K
$329.9K – $439.9K
NOI $26,391 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$870.6K
$761.8K – $1.02M
NOI $60,942 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,701
Businesses Nearby
Explore this area
Business Placement
Demographics for 33009, FL
43,301
Population
31,020
Households
1.4
Avg Household Size
47
Median Age
36%
College-Educated
88%
High-School Grad
4.9 sq mi
ZIP Area
8,837
Density / Sq Mi
$48,196
Median Household Income
$33,928
Median Earnings
$1,576
Median Rent
$248,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences are vacant, with two bedrooms and one bathroom apiece.
Where is this duplex located?
The property is located at 417 SW 3rd St Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Two vacant units, each with 2 bedrooms and 1 bathroom; 1,716 square feet; Eight front parking spaces and a rear patio
