Single-Story
New
For Sale
$399,000
1042 Foster Road, Hallandale Beach, FL 33009
MULTI_FAMILY - Hallandale Beach, FL
Property Size973 SF
Lot Size0.07 Acres
Price / SF$410.07
Days on Market6
Property Features for 1042 Foster Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
WEST RAC
Bedrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
Pets allowed
No, Yes
Subdivision
MEEKINS ADD NO 1 AMEN
Elementary school
Colbert
High school
Hallandale
Standard status
Active
APN
514221290160
Size
973 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MEEKINS ADD NO 1 AMEN 26-50 B N 70.30 OF THE E 42.00 OF LOT 16 BLK 4
Tax Annual Amount
4371
Legal Description
MEEKINS ADD NO 1 AMEN 26-50 B N 70.30 OF THE E 42.00 OF LOT 16 BLK 4
Utilities
Sewer type
Public Sewer
Cooling system
Ceiling Fan(s), Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1959
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Brick, CBS
Roof type
Flat
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Blake B Jackson · License #3372456
(305) 298-3443
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 10:06PM
MLS# B26060855
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 single-story duplex contains 973 square feet of finished space on a 0.07-acre lot. The property includes two bedrooms and two bathrooms, with tile flooring throughout the documented rooms. Brick and CBS construction, a flat roof, and a 1959 build date define the existing improvements. Cooling is provided through window, wall/window, and ceiling fan units.
The property is located at 1042 Foster Road in Hallandale Beach, Florida, within Broward County and ZIP Code 33009. Public water and public sewer serve the site. Zoning is identified as WEST RAC.
The property is located at 1042 Foster Road in Hallandale Beach, Florida, within Broward County and ZIP Code 33009. Public water and public sewer serve the site. Zoning is identified as WEST RAC.
Key Highlights
- Duplex with 973 square feet of finished space
- 0.07‑acre lot at 1042 Foster Road, Hallandale Beach, FL 33009
- Two bedrooms and two bathrooms
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
$16,220
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
4.07%
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%
$324,400
$324.4K
Cap Rate 7%
$231,714
$231.7K
Cap Rate 9%
$180,222
$180.2K
Market Conditions
NOI Build-Up for 973 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
$24.5K $25.20/SF
− Vacancy
−$1.3K −$1.39/SF
EGI
$23.2K $23.81/SF
− OpEx
−$7.0K −$7.14/SF
NOI
$16.2K $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%
$324,400
Cap Rate 7%
$231,714
Cap Rate 9%
$180,222
Alternative Uses
Best Use
Multifamily LT 5
$231.7K
$202.8K – $270.3K
NOI $16,220 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$213.8K
$187.1K – $249.4K
NOI $14,964 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$493.6K
$431.9K – $575.9K
NOI $34,555 @ 7.0% cap · market cap 8.66%
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
2,424
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 - A compact residential income property with tile flooring, public utilities, and window or wall-unit cooling.
Where is this duplex located?
The property is located at 1042 Foster Road Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Duplex with 973 square feet of finished space; 0.07‑acre lot at 1042 Foster Road, Hallandale Beach, FL 33009; Two bedrooms and two bathrooms
