Turnkey Duplex with Screened
For Sale
Contact for pricing
1425 NE 55th Street, Fort Lauderdale, FL 33334
Turnkey two-bedroom duplex with hurricane impact windows, newer A/C, and private screened patios for flexible rental use.
Property Size2,782 SF
Price / SF$305.52
Days on Market793
Property Features for 1425 NE 55th Street
General Information
Standard status
Active
Size
2,782 SF
Property subtype
Multifamily
Additional Details
Business Included
Yes
Building Details
Year Built
1966
Listing Agency:
Fidelity Real Estate Group
Listed By:
Carlos Montoya
Source:
Crexi
Added: Jun 6, 2024
Changed: Jul 10
Last Checked: Aug 6 at 1:49PM
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 Fidelity Real Estate Group
Investment Insights
Based on property information with market context.
This turnkey duplex presents as a well-maintained income property with modern exterior protection and mechanical updates. The building has hurricane impact windows, a new roof, and newer A/C units. Each unit is a large two-bedroom, two-bath layout with open split bedrooms, a full-size washer and dryer, and updated kitchens featuring stainless steel appliances. Both residences also include private screened patios, providing an outdoor space that supports day-to-day comfort and guest-friendly living.
Located in Coral Ridge Isles, the property is minutes to the beach, aligning with a lifestyle-driven tenant profile and vacation-rental use cases. The offering is presented for buyers seeking either an owner-occupant setup or an annual income approach, with the option to explore short-term rental potential based on the property’s features and proximity.
From an operational standpoint, the unit mix supports flexibility: two-bedroom floorplans, in-unit laundry, and screened outdoor space are practical for longer stays, and the updates can support a turnkey transition for a short-term rental strategy. The listing provides a stated potential gross income of $74,400 with annual expenses of $27,118, including taxes ($10,678), landscaping ($840), insurance ($4,000), and water/trash ($3,600).
Located in Coral Ridge Isles, the property is minutes to the beach, aligning with a lifestyle-driven tenant profile and vacation-rental use cases. The offering is presented for buyers seeking either an owner-occupant setup or an annual income approach, with the option to explore short-term rental potential based on the property’s features and proximity.
From an operational standpoint, the unit mix supports flexibility: two-bedroom floorplans, in-unit laundry, and screened outdoor space are practical for longer stays, and the updates can support a turnkey transition for a short-term rental strategy. The listing provides a stated potential gross income of $74,400 with annual expenses of $27,118, including taxes ($10,678), landscaping ($840), insurance ($4,000), and water/trash ($3,600).
Key Highlights
- Turnkey duplex built in 1966 with hurricane impact windows for the entire building
- New roof plus newer A/C units
- Two large 2‑bedroom, 2‑bath units, each approx. 1,391+/- SF
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
$46,375
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
5.46%
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%
$927,500
$927.5K
Cap Rate 7%
$662,500
$662.5K
Cap Rate 9%
$515,278
$515.3K
Market Conditions
NOI Build-Up for 2,782 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
$70.1K $25.20/SF
− Vacancy
−$3.9K −$1.39/SF
EGI
$66.3K $23.81/SF
− OpEx
−$19.9K −$7.14/SF
NOI
$46.4K $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%
$927,500
Cap Rate 7%
$662,500
Cap Rate 9%
$515,278
Alternative Uses
Best Use
Multifamily LT 5
$662.5K
$579.7K – $772.9K
NOI $46,375 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$596.8K
$522.2K – $696.3K
NOI $41,775 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $130,865 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,272
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
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 - Turnkey two-bedroom duplex with hurricane impact windows, newer A/C, and private screened patios for flexible rental use.
Where is this duplex located?
The property is located at 1425 NE 55th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $849,950.
What are key features of this property?
This property features: Turnkey duplex built in 1966 with hurricane impact windows for the entire building; New roof plus newer A/C units; Two large 2‑bedroom, 2‑bath units, each approx. 1,391+/- SF
