Duplex Property with Tile
For Sale
$150,000
Pending
516 N 21st Street, Fort Pierce, FL 34950
Residential Income, Fort Pierce, FL
Property Size897 SF
Lot Size0.15 Acres
Days on Market89
Property Features for 516 N 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Medium Den
Bedrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Pets allowed
No, Yes
Subdivision
ALAMANDA VISTA SUBDIVISION
Directions
25th street north to Avenue D right to 21St.
Standard status
Pending
APN
240960202070000
Size
897 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ALAMANDA VISTA S/D BLK J LOT 5 AND W 5 FT OF VAC ALLEY ADJ ON E
Tax Annual Amount
1599
Legal Description
ALAMANDA VISTA S/D BLK J LOT 5 AND W 5 FT OF VAC ALLEY ADJ ON E
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Wood Frame
Roof type
Fiberglass
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Janice Dodson · License #3443987
(772) 475-1897
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 10:06PM
MLS# B26037668
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 in Fort Pierce contains 897 square feet on a 0.15-acre lot. Built in 1954, the wood-frame structure includes two bedrooms and two bathrooms, with tile flooring throughout portions of the interior. Cooling is provided by window and wall/window units, while the fiberglass roof completes the primary building improvements.
The property is located at 516 N 21st Street in Fort Pierce, Florida. Public water and public sewer serve the site, and the recorded zoning designation is Medium Den. The combination of a duplex configuration, compact lot, and existing residential improvements provides a clearly defined property profile for further evaluation.
The property is located at 516 N 21st Street in Fort Pierce, Florida. Public water and public sewer serve the site, and the recorded zoning designation is Medium Den. The combination of a duplex configuration, compact lot, and existing residential improvements provides a clearly defined property profile for further evaluation.
Key Highlights
- Duplex property with 897 square feet of building area
- Two bedrooms and two bathrooms
- 0.15‑acre lot at 516 N 21st Street, Fort Pierce
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
$13,173
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
8.78%
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%
$263,460
$263.5K
Cap Rate 7%
$188,186
$188.2K
Cap Rate 9%
$146,367
$146.4K
Market Conditions
NOI Build-Up for 897 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
$19.9K $22.20/SF
− Vacancy
−$1.1K −$1.22/SF
EGI
$18.8K $20.98/SF
− OpEx
−$5.6K −$6.29/SF
NOI
$13.2K $14.69/SF
Area
St. Lucie County, FL
Vacancy
5.50%
Lease Rate
$22.20 /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%
$263,460
Cap Rate 7%
$188,186
Cap Rate 9%
$146,367
Alternative Uses
Best Use
Multifamily LT 5
$188.2K
$164.7K – $219.6K
NOI $13,173 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$174.7K
$152.9K – $203.8K
NOI $12,230 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$225.6K
$197.4K – $263.2K
NOI $15,791 @ 7.0% cap · market cap 10.53%
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
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
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 - Wood-frame construction with public utilities, tile flooring, and window or wall-mounted cooling serves the two-bedroom, two-bath layout.
Where is this duplex located?
The property is located at 516 N 21st Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Duplex property with 897 square feet of building area; Two bedrooms and two bathrooms; 0.15‑acre lot at 516 N 21st Street, Fort Pierce
