Fort Lauderdale Duplex on Middle
For Sale
$1,269,990
929 NE 18th Ct, Fort Lauderdale, FL 33305
Rare duplex with pool and private dock on Middle River.
Property Size3,800 SF
Days on Market257
Property Features for 929 NE 18th Ct
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$17,792
Building Details
Building Size
3,800 SF
Year Built
2005
Stories
2
Units
2
Listing Agency:
Homeinc Realty LLC
(954) 635-5558
Listed By:
Daniel J Letourneau · License #3339053
(954) 635-5558
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 7
Last Checked: Aug 12 at 9:20AM
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 Homeinc Realty LLC
Investment Insights
Based on property information with market context.
This duplex, constructed in 2006, is located on Fort Lauderdale's Middle River. The 3,800 square foot property contains two living units. The downstairs unit features one bedroom and 1.5 bathrooms, high ceilings, a full kitchen, and a laundry room. The upstairs unit includes two bedrooms and two bathrooms, Victorian crown molding, a fireplace, high ceilings, and a kitchen with high-end finishes. The backyard includes a pool, brick pavers, and a private dock. The property is located minutes from Wilton Manors, beaches, and downtown Fort Lauderdale.
Key Highlights
- Waterfront property on the Middle River with private dock and pool.
- Unique duplex configuration offering two separate living units (3,800 sq/ft total).
- Downstairs unit: 1 bed, 1.5 bath with full kitchen and laundry.
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
$63,345
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
4.99%
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%
$1,266,900
$1.3M
Cap Rate 7%
$904,929
$904.9K
Cap Rate 9%
$703,833
$703.8K
Market Conditions
NOI Build-Up for 3,800 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
$95.8K $25.20/SF
− Vacancy
−$5.3K −$1.39/SF
EGI
$90.5K $23.81/SF
− OpEx
−$27.1K −$7.14/SF
NOI
$63.3K $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%
$1,266,900
Cap Rate 7%
$904,929
Cap Rate 9%
$703,833
Alternative Uses
Best Use
Multifamily LT 5
$904.9K
$791.8K – $1.06M
NOI $63,345 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$815.2K
$713.3K – $951.0K
NOI $57,062 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$2.55M
$2.23M – $2.98M
NOI $178,752 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,745
Businesses Nearby
Explore this area
Business Placement
Demographics for 33305, FL
12,044
Population
8,285
Households
1.5
Avg Household Size
52
Median Age
54%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
5,475
Density / Sq Mi
$89,944
Median Household Income
$60,924
Median Earnings
$1,850
Median Rent
$558,200
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 - Rare duplex with pool and private dock on Middle River.
Where is this duplex located?
The property is located at 929 NE 18th Ct Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,269,990.
What are key features of this property?
This property features: Waterfront property on the Middle River with private dock and pool.; Unique duplex configuration offering two separate living units (3,800 sq/ft total).; Downstairs unit: 1 bed, 1.5 bath with full kitchen and laundry.
