Duplex with Guest
For Sale
Contact for pricing
1201 N Andrews Avenue, Fort Lauderdale, FL 33311
Two separate residences on one fenced lot offer flexible living or rental configuration near shopping, dining, and beaches.
Property Size2,653 SF
Price / SF$254.43
Days on Market180
Property Features for 1201 N Andrews Avenue
General Information
Standard status
Active
Size
2,653 SF
Property subtype
Multifamily
Zoning
RD-15
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Year Built
1935
Units
2
Listing Agency:
Keller Williams Realty Profess
Listed By:
Rebecca Kennedy · License #3168352
Source:
Crexi
Added: Feb 20
Changed: Aug 8
Last Checked: Aug 18 at 4:29AM
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 Keller Williams Realty Profess
Investment Insights
Based on property information with market context.
This South Middle River duplex includes two homes on one spacious lot with a large, fully fenced yard for added privacy. The main house features 2 bedrooms and 2 bathrooms, with a newly updated modern kitchen, renovated bathrooms, and ample living space. A separate guest cottage provides 1 bedroom and 1 bathroom, along with a refreshed kitchen and cozy living area. Both residences include newer roofs and impact windows.
The property is located in Fort Lauderdale near shopping, dining, downtown, beaches, and parks, placing everyday amenities and recreation within convenient reach.
Designed for practical multi-unit ownership, the layout supports owner-occupancy with rental income potential through the separate guest cottage. With updated interiors in both units and durable exterior improvements like newer roofs and impact windows, the duplex offers an appealing option for buyers seeking a self-contained residential income setup on one lot.
The property is located in Fort Lauderdale near shopping, dining, downtown, beaches, and parks, placing everyday amenities and recreation within convenient reach.
Designed for practical multi-unit ownership, the layout supports owner-occupancy with rental income potential through the separate guest cottage. With updated interiors in both units and durable exterior improvements like newer roofs and impact windows, the duplex offers an appealing option for buyers seeking a self-contained residential income setup on one lot.
Key Highlights
- 1935 duplex on one spacious, fully fenced lot in South Middle River, Fort Lauderdale
- Main house: 2 bed, 2 bath with newly updated modern kitchen and renovated bathrooms
- Guest cottage: 1 bed, 1 bath with refreshed kitchen and cozy living area
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
$44,225
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
6.55%
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%
$884,500
$884.5K
Cap Rate 7%
$631,786
$631.8K
Cap Rate 9%
$491,389
$491.4K
Market Conditions
NOI Build-Up for 2,653 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
$66.9K $25.20/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$63.2K $23.81/SF
− OpEx
−$19.0K −$7.14/SF
NOI
$44.2K $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%
$884,500
Cap Rate 7%
$631,786
Cap Rate 9%
$491,389
Alternative Uses
Best Use
Multifamily LT 5
$631.8K
$552.8K – $737.1K
NOI $44,225 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$569.1K
$498.0K – $664.0K
NOI $39,838 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,797 @ 7.0% cap · market cap 18.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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 on one fenced lot offer flexible living or rental configuration near shopping, dining, and beaches.
Where is this duplex located?
The property is located at 1201 N Andrews Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1935 duplex on one spacious, fully fenced lot in South Middle River, Fort Lauderdale; Main house: 2 bed, 2 bath with newly updated modern kitchen and renovated bathrooms; Guest cottage: 1 bed, 1 bath with refreshed kitchen and cozy living area
