Renovated Duplex with Separate
For Sale
$760,000
1005 NE 2nd St, Hallandale Beach, FL 33009
MULTI_FAMILY - Hallandale Beach, FL
Property Size1,902 SF
Price / SF$399.58
Days on Market30
Property Features for 1005 NE 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RD-12
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 4
Parking
4
Patio and Porch features
Patio
Exterior features
Fence, Patio, Shed
Fencing
Fenced
Subdivision
ANDERSON VILLAS
Lot features
< 1/4 Acre
Standard status
Active
APN
514227320020
Size
1,902 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
ANDERSON VILLAS 30-26 B LOT 2
Tax Annual Amount
10484
Legal Description
ANDERSON VILLAS 30-26 B LOT 2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Miryam Satinoff · License #3110623
(954) 261-6538
Added: Jul 18
Changed: Aug 13
Last Checked: Aug 16 at 12:06AM
MLS# A12043536
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 renovated block duplex on a single lot features two separate units, each with two bedrooms and two bathrooms. The property includes two driveways, spacious fenced backyards with separation between units, and a patio, plus a concrete storage room in the back and an exterior shed. Flooring is laminate throughout.
Both units have central A/C and include in-unit washers and dryers. The listing notes that each unit received new water heaters and new electrical systems in 2021, and that the duplex was totally renovated in 2023 with new kitchens, new stainless-steel appliances, new waterproof laminated floors, new countertops and cabinets, and updated bathrooms with new fixtures.
Additional improvements include a shingle roof estimated to be about 11 years old. Utilities include cable availability, and the duplex is served by public water and public sewer.
Both units have central A/C and include in-unit washers and dryers. The listing notes that each unit received new water heaters and new electrical systems in 2021, and that the duplex was totally renovated in 2023 with new kitchens, new stainless-steel appliances, new waterproof laminated floors, new countertops and cabinets, and updated bathrooms with new fixtures.
Additional improvements include a shingle roof estimated to be about 11 years old. Utilities include cable availability, and the duplex is served by public water and public sewer.
Key Highlights
- Two 2‑bedroom, 2‑bath units with central A/C
- Totally renovated in 2023 with new kitchens, stainless‑steel appliances, and waterproof laminate floors
- Separate fenced backyards plus patio, two driveways, and a concrete storage room
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
$31,706
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
4.17%
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%
$634,120
$634.1K
Cap Rate 7%
$452,943
$452.9K
Cap Rate 9%
$352,289
$352.3K
Market Conditions
NOI Build-Up for 1,902 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
$47.9K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$45.3K $23.81/SF
− OpEx
−$13.6K −$7.14/SF
NOI
$31.7K $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%
$634,120
Cap Rate 7%
$452,943
Cap Rate 9%
$352,289
Alternative Uses
Best Use
Multifamily LT 5
$452.9K
$396.3K – $528.4K
NOI $31,706 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$417.9K
$365.6K – $487.5K
NOI $29,251 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$965.0K
$844.4K – $1.13M
NOI $67,548 @ 7.0% cap · market cap 8.89%
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
2,753
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
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 - Renovated 1958 block duplex with two 2-bedroom, 2-bath units, separate fenced backyards, patios, and central A/C.
Where is this duplex located?
The property is located at 1005 NE 2nd St Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath units with central A/C; Totally renovated in 2023 with new kitchens, stainless‑steel appliances, and waterproof laminate floors; Separate fenced backyards plus patio, two driveways, and a concrete storage room
