Duplex with Two
For Sale
Under Contract
$790,000
117 SW 1st Avenue, Hallandale Beach, FL 33009
Residential Income, Hallandale Beach, FL
Property Size3,612 SF
Price / SF$218.72
Days on Market266
Property Features for 117 SW 1st Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-6
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 5
Patio and Porch features
Porch
Subdivision
Town Of Hallandale B-13 D
Lot features
Fruit Tree(s)
Directions
I95 S to Pembroke Road. Go E to NW 10th Ave and Go Right. Left onto Foster Rd, Right onto NW 2nd Ave, Left onto SW 1st St, Right onto SW 1st Ave Look for property
Standard status
Active Under Contract
APN
514228022020
Size
3,612 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
TOWN OF HALLANDALE B-13 D LOT 14,BLK 30 AND LOT 15 LESS S 40 OF W 100,BLK 30
Tax Annual Amount
8821
Legal Description
TOWN OF HALLANDALE B-13 D LOT 14,BLK 30 AND LOT 15 LESS S 40 OF W 100,BLK 30
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1959
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
CBS
Roof type
Composition, Shingle
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Michelle A Morrison PA · License #673579
(954) 849-0509
Added: Dec 10, 2025
Changed: Sep 2
Last Checked: Sep 2 at 7:06PM
MLS# F10540736
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 consists of two separate buildings totaling 3,612 square feet on one lot. The primary residence has 3 bedrooms and 2 bathrooms, while the additional building provides 2 bedrooms and 2 bathrooms. Both structures feature CBS construction, tile flooring, central heating, and central air conditioning, with ceiling fans also present. The property was built in 1959 and has a porch, composition and shingle roofing, a propane-powered Generac generator, and smoke alarms connected directly to the city.
Located at 117 SW 1st Avenue in Hallandale Beach, the property has RS-6 zoning and is served by public water and public sewer. Cable service is available. The property is currently operating as a group home.
Located at 117 SW 1st Avenue in Hallandale Beach, the property has RS-6 zoning and is served by public water and public sewer. Cable service is available. The property is currently operating as a group home.
Key Highlights
- 3,612‑square‑foot duplex with two separate buildings on one lot
- Primary residence includes 3 bedrooms and 2 bathrooms
- Second building includes 2 bedrooms and 2 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
$60,211
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
7.62%
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%
$1,204,220
$1.2M
Cap Rate 7%
$860,157
$860.2K
Cap Rate 9%
$669,011
$669.0K
Market Conditions
NOI Build-Up for 3,612 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
$91.0K $25.20/SF
− Vacancy
−$5.0K −$1.39/SF
EGI
$86.0K $23.81/SF
− OpEx
−$25.8K −$7.14/SF
NOI
$60.2K $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%
$1,204,220
Cap Rate 7%
$860,157
Cap Rate 9%
$669,011
Alternative Uses
Best Use
Multifamily LT 5
$860.2K
$752.6K – $1.00M
NOI $60,211 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$793.6K
$694.4K – $925.8K
NOI $55,550 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,276 @ 7.0% cap · market cap 16.24%
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
2,662
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 - Two separate residences occupy one lot, with tile flooring, central systems, and public water and sewer service.
Where is this duplex located?
The property is located at 117 SW 1st Avenue Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 3,612‑square‑foot duplex with two separate buildings on one lot; Primary residence includes 3 bedrooms and 2 bathrooms; Second building includes 2 bedrooms and 2 bathrooms
