Two-Story Quadplex with 2BR
For Sale
$2,190,000
1001 SE 3rd Street, Deerfield Beach, FL 33441
Substantial two-story quadplex featuring four large 2-bedroom, 2-bath units and a common laundry room.
Property Size4,653 SF
Price / SF$470.66
Days on Market57
Property Features for 1001 SE 3rd Street
General Information
Standard status
Active
Size
4,653 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Building Details
Year Built
1973
Stories
2
Listing Agency:
Regency Realty Services
(561) 706-0095
Listed By:
Matan Morag PA · License #SL3124553
(561) 706-0095
Source:
Lehmannflorida
Added: Jun 29
Changed: Aug 24
Last Checked: Aug 23 at 7:16AM
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 Regency Realty Services
Investment Insights
Based on property information with market context.
Located at 1001 SE 3rd St in Deerfield Beach, this substantial two-story quadplex offers four separate residential units configured as large 2-bedroom, 2-bath floor plans. Each unit includes modern kitchens and bathrooms, and the property is organized with a thoughtful two-story layout that supports flexible unit configurations. A large common laundry room is provided downstairs for shared tenant use.
The property is situated in The Cove within downtown Deerfield Beach and offers convenient access to local amenities and services. BikeScore is listed at 58 (Bikeable) and walkScore is listed at 81 (Very Walkable), with transitScore at 34 (Some Transit), reflecting an area suited to regular neighborhood access.
As a multi-unit residential income property, this quadplex provides a four-unit setup designed for ongoing occupancy, with each unit sharing the same 2-bedroom/2-bath format and the overall two-story building layout.
The property is situated in The Cove within downtown Deerfield Beach and offers convenient access to local amenities and services. BikeScore is listed at 58 (Bikeable) and walkScore is listed at 81 (Very Walkable), with transitScore at 34 (Some Transit), reflecting an area suited to regular neighborhood access.
As a multi-unit residential income property, this quadplex provides a four-unit setup designed for ongoing occupancy, with each unit sharing the same 2-bedroom/2-bath format and the overall two-story building layout.
Key Highlights
- Substantial two‑story quadruplex built in 1973 with 4,653 SF above grade
- 4 units total, each with a large 2‑bedroom, 2‑bath floor plan
- Modern kitchens and bathrooms in all units
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
$77,565
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
3.54%
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%
$1,551,300
$1.6M
Cap Rate 7%
$1,108,071
$1.1M
Cap Rate 9%
$861,833
$861.8K
Market Conditions
NOI Build-Up for 4,653 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
$117.3K $25.20/SF
− Vacancy
−$6.4K −$1.39/SF
EGI
$110.8K $23.81/SF
− OpEx
−$33.2K −$7.14/SF
NOI
$77.6K $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%
$1,551,300
Cap Rate 7%
$1,108,071
Cap Rate 9%
$861,833
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$969.6K – $1.29M
NOI $77,565 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$1.02M
$894.5K – $1.19M
NOI $71,560 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$2.36M
$2.07M – $2.75M
NOI $165,246 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 33441, FL
29,311
Population
15,225
Households
1.9
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,106
Density / Sq Mi
$57,257
Median Household Income
$35,163
Median Earnings
$1,544
Median Rent
$381,700
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?
Quadplex - Substantial two-story quadplex featuring four large 2-bedroom, 2-bath units and a common laundry room.
Where is this quadplex located?
The property is located at 1001 SE 3rd Street Deerfield Beach, FL.
What is the asking price?
The asking price for this property is $2,190,000.
What are key features of this property?
This property features: Substantial two‑story quadruplex built in 1973 with 4,653 SF above grade; 4 units total, each with a large 2‑bedroom, 2‑bath floor plan; Modern kitchens and bathrooms in all units
