Two-Unit Duplex with Central
For Sale
$1,020,000
5 NE 16th Ct, Fort Lauderdale, FL 33305
Residential Income, Fort Lauderdale, FL
Property Size2,829 SF
Price / SF$360.55
Days on Market192
Property Features for 5 NE 16th Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RDS-15
Bedrooms
10
Full bathrooms
5
Rooms
Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 9, Bedroom 10, Bedroom 4, Bedroom 7, Bathroom 1, Bathroom 4, Bathroom 5, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 8
Parking
5
Subdivision
PLACIDO PLACE
Lot features
< 1/4 Acre
Standard status
Active
APN
494234190500
Size
2,829 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PLACIDO PLACE 11-43 B LOT 3 BLK 4
Tax Annual Amount
11570
Legal Description
PLACIDO PLACE 11-43 B LOT 3 BLK 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1975
Floors in Building
2
Flooring type
Laminate, Tile - Ceramic
Building materials
Brick, Block
Roof type
Flat, Tile
Listing Agency:
Home Wiz USA
(305) 644-6600
Listed By:
German Grudny · License #3092975
(786) 663-2808
Added: Feb 19
Changed: Aug 26
Last Checked: Aug 30 at 12:06AM
MLS# A11968537
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 duplex contains two residential units within a 2,829-square-foot property built in 1975. The structure uses brick and block construction, with laminate and ceramic tile flooring throughout the reported areas. Central heating and central air conditioning serve the property, while the roof includes flat and tile sections.
Public sewer service is in place, and cable availability is reported. The property is located in Fort Lauderdale, Florida, in ZIP Code 33305. Its two-unit configuration and existing residential improvements provide a defined multifamily format for an owner or investor evaluating the asset.
Public sewer service is in place, and cable availability is reported. The property is located in Fort Lauderdale, Florida, in ZIP Code 33305. Its two-unit configuration and existing residential improvements provide a defined multifamily format for an owner or investor evaluating the asset.
Key Highlights
- Two‑unit duplex configuration
- 2,829 square feet of property size
- Built in 1975
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
$47,159
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
4.62%
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%
$943,180
$943.2K
Cap Rate 7%
$673,700
$673.7K
Cap Rate 9%
$523,989
$524.0K
Market Conditions
NOI Build-Up for 2,829 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
$71.3K $25.20/SF
− Vacancy
−$3.9K −$1.39/SF
EGI
$67.4K $23.81/SF
− OpEx
−$20.2K −$7.14/SF
NOI
$47.2K $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%
$943,180
Cap Rate 7%
$673,700
Cap Rate 9%
$523,989
Alternative Uses
Best Use
Multifamily LT 5
$673.7K
$589.5K – $786.0K
NOI $47,159 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$606.9K
$531.0K – $708.0K
NOI $42,481 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,076 @ 7.0% cap · market cap 13.05%
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
1,539
Businesses Nearby
Explore this area
Business Placement
Demographics for 33305, FL
12,044
Population
8,285
Households
1.5
Avg Household Size
52
Median Age
54%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
5,475
Density / Sq Mi
$89,944
Median Household Income
$60,924
Median Earnings
$1,850
Median Rent
$558,200
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 - Two-unit residential property with central heating and cooling, public sewer service, and durable brick and block construction.
Where is this duplex located?
The property is located at 5 NE 16th Ct Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,020,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 2,829 square feet of property size; Built in 1975
