Income-Producing Duplex in Fort
For Sale
$295,900
2108 Avenue E, Fort Pierce, FL 34950
Duplex with remodeled bathrooms, fresh paint, and updated cabinets.
Property Size1,152 SF
Days on Market277
Property Features for 2108 Avenue E
General Information
Standard status
Active
Size
1,152 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$2,152
Building Details
Building Size
1,152 SF
Year Built
1964
Stories
1
Units
2
Listing Agency:
(772) 486-7880
Listed By:
Gregory H Dalessio
(772) 486-7880
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 17
Last Checked: Aug 31 at 6:03PM
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 Gregory H Dalessio
Investment Insights
Based on property information with market context.
This income-producing duplex is located in the rapidly growing area of Fort Pierce. Each of the two units features one bedroom and one bathroom. Both bathrooms have been newly remodeled, and the interiors have fresh paint. The units also feature updated cabinets. One unit is currently tenant-occupied, providing immediate rental income. The other unit is ready for a new tenant or the next investment opportunity.
Key Highlights
- Income‑producing duplex: Immediate rental income from one tenant‑occupied unit.
- Newly remodeled bathrooms in both units.
- Fresh interior paint in both units.
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
$16,917
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
5.72%
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%
$338,340
$338.3K
Cap Rate 7%
$241,671
$241.7K
Cap Rate 9%
$187,967
$188.0K
Market Conditions
NOI Build-Up for 1,152 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
$25.6K $22.20/SF
− Vacancy
−$1.4K −$1.22/SF
EGI
$24.2K $20.98/SF
− OpEx
−$7.3K −$6.29/SF
NOI
$16.9K $14.69/SF
Area
St. Lucie County, FL
Vacancy
5.50%
Lease Rate
$22.20 /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%
$338,340
Cap Rate 7%
$241,671
Cap Rate 9%
$187,967
Alternative Uses
Best Use
Multifamily LT 5
$241.7K
$211.5K – $282.0K
NOI $16,917 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$224.4K
$196.3K – $261.8K
NOI $15,707 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$289.7K
$253.5K – $338.0K
NOI $20,280 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
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 - Duplex with remodeled bathrooms, fresh paint, and updated cabinets.
Where is this duplex located?
The property is located at 2108 Avenue E Fort Pierce, FL.
What is the asking price?
The asking price for this property is $295,900.
What are key features of this property?
This property features: Income‑producing duplex: Immediate rental income from one tenant‑occupied unit.; Newly remodeled bathrooms in both units.; Fresh interior paint in both units.
