Duplex with Flexible Rental
For Sale
$630,000
1-2-121 Nw 56th Ct, Oakland Park, FL 33334
CBS duplex with separate utilities, private outdoor areas, and one vacant unit ready for occupancy or leasing.
Property Size1,660 SF
Price / SF$379.52
Days on Market132
Property Features for 1-2-121 Nw 56th Ct
General Information
Standard status
Active
Size
1,660 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,979
Listing Agency:
LPT Realty, LLC
(561) 324-8354
Listed By:
Grisel M Arias · License #B26018785
(561) 324-8354
Source:
Exprealty
Added: Apr 20
Changed: Aug 29
Last Checked: Aug 29 at 7:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LPT Realty, LLC
Investment Insights
Based on property information with market context.
This Oakland Park duplex was built in 1980 with CBS construction and includes two residential units. Each unit has 2 BD, 1 BA, a laundry room, washer/dryer connections, privacy fencing, and a backyard. Unit A is leased on a month-to-month basis, while Unit B is vacant. Separate water and electric meters serve the units. Capital improvements include HVAC and a water heater installed in 2019, a new stove, and a well-water irrigation system with a new pump and motor installed in March 2026. Short-term rentals, including Airbnb and VRBO, are allowed, providing multiple operating options subject to applicable requirements.
The property is located at 1-2-121 NW 56th Ct in Oakland Park, with proximity to Wilton Manors, Fort Lauderdale Airport, and the beaches. The property may also be acquired within a larger portfolio that includes two single-family homes and a warehouse.
The property is located at 1-2-121 NW 56th Ct in Oakland Park, with proximity to Wilton Manors, Fort Lauderdale Airport, and the beaches. The property may also be acquired within a larger portfolio that includes two single-family homes and a warehouse.
Key Highlights
- Two‑unit duplex built in 1980 with CBS construction
- Unit A leased month‑to‑month; Unit B vacant
- Short‑term rentals allowed, including Airbnb and VRBO
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
$27,672
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
4.39%
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%
$553,440
$553.4K
Cap Rate 7%
$395,314
$395.3K
Cap Rate 9%
$307,467
$307.5K
Market Conditions
NOI Build-Up for 1,660 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
$41.8K $25.20/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$39.5K $23.81/SF
− OpEx
−$11.9K −$7.14/SF
NOI
$27.7K $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%
$553,440
Cap Rate 7%
$395,314
Cap Rate 9%
$307,467
Alternative Uses
Best Use
Multifamily LT 5
$395.3K
$345.9K – $461.2K
NOI $27,672 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$364.7K
$319.1K – $425.5K
NOI $25,530 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$842.2K
$736.9K – $982.6K
NOI $58,953 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,697
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 - CBS duplex with separate utilities, private outdoor areas, and one vacant unit ready for occupancy or leasing.
Where is this duplex located?
The property is located at 1-2-121 Nw 56th Ct Oakland Park, FL.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1980 with CBS construction; Unit A leased month‑to‑month; Unit B vacant; Short‑term rentals allowed, including Airbnb and VRBO
