Updated Duplex with New
For Sale
$759,900
12-920 Sw 28th St, Fort Lauderdale, FL 33315
Two comparable units offer open kitchens, impact windows, central air conditioning, and access to a substantial backyard.
Property Size2,153 SF
Price / SF$352.95
Days on Market71
Property Features for 12-920 Sw 28th St
General Information
Standard status
Active
Size
2,153 SF
Total Parking Spaces
4
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,581
Amenities
central air conditioning
impact windows
Building Details
Buildings
1
Listing Agency:
Better Homes & Gdns RE Fla 1st
(954) 525-2200
Listed By:
Nicholas A Trotz · License #3292568
(954) 661-2838
Source:
Exprealty
Added: Jun 26
Changed: Aug 31
Last Checked: Sep 1 at 10:27PM
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 Better Homes & Gdns RE Fla 1st
Investment Insights
Based on property information with market context.
This 2,153-square-foot duplex contains two nearly matching units with open kitchen layouts, neutral porcelain tile flooring, generous closet space, impact windows, and central air conditioning. Kitchen features include cabinetry, granite countertops, dishwashers, microwaves, electric ranges and ovens, and garbage disposals; one unit does not include kitchen appliances. The roof was replaced in 2023, and the property includes four deeded parking spaces plus a large backyard.
The property is in Southwest Fort Lauderdale, with access to I-95, I-595, and the Turnpike. Fort Lauderdale–Hollywood International Airport is approximately 5 minutes away, while The Fort Pickleball Park is a 3-minute drive or 10-minute bike ride. Snyder Park, the beach, restaurants, and grocery stores are also identified nearby.
The property is in Southwest Fort Lauderdale, with access to I-95, I-595, and the Turnpike. Fort Lauderdale–Hollywood International Airport is approximately 5 minutes away, while The Fort Pickleball Park is a 3-minute drive or 10-minute bike ride. Snyder Park, the beach, restaurants, and grocery stores are also identified nearby.
Key Highlights
- 2,153‑square‑foot duplex with two nearly identical units
- New roof installed in 2023
- Four deeded parking spaces
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
$35,890
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
4.72%
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%
$717,800
$717.8K
Cap Rate 7%
$512,714
$512.7K
Cap Rate 9%
$398,778
$398.8K
Market Conditions
NOI Build-Up for 2,153 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
$54.3K $25.20/SF
− Vacancy
−$3.0K −$1.39/SF
EGI
$51.3K $23.81/SF
− OpEx
−$15.4K −$7.14/SF
NOI
$35.9K $16.67/SF
Area
Fort Lauderdale, 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%
$717,800
Cap Rate 7%
$512,714
Cap Rate 9%
$398,778
Alternative Uses
Best Use
Multifamily LT 5
$512.7K
$448.6K – $598.2K
NOI $35,890 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$461.9K
$404.1K – $538.8K
NOI $32,330 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,277 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,442
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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 comparable units offer open kitchens, impact windows, central air conditioning, and access to a substantial backyard.
Where is this duplex located?
The property is located at 12-920 Sw 28th St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: 2,153‑square‑foot duplex with two nearly identical units; New roof installed in 2023; Four deeded parking spaces
