Updated Duplex with Private
For Sale
$899,900
1400 NE 21ST Street, Wilton Manors, FL 33305
Two residences include separate laundry and outdoor patios within a tropical preserve-side setting.
Property Size1,848 SF
Days on Market12
Property Features for 1400 NE 21ST Street
General Information
Standard status
Active
Size
1,848 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,456
Amenities
private pool
separate laundry
outdoor patios
Building Details
Building Size
1,848 SF
Year Built
1961
Listing Agency:
Bond Luxury Properties LLC
Listed By:
Michael Amiel · License #3546655
Source:
Relinkre
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 29 at 2:12PM
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 Bond Luxury Properties LLC
Investment Insights
Based on property information with market context.
This duplex, built in 1961, contains two updated residences, each with 2 bedrooms and 1 bathroom. The west-side unit includes a private pool, while separate laundry areas and outdoor patios serve the residences. The property is set beside the Colohatchee Preserve in a tropical surroundings and offers a flexible configuration for short-term rental use, owner occupancy with an additional rented residence, or exploration of a single-family conversion creating 4 bedrooms and 2 bathrooms.
Wilton Drive is only minutes away, and the beach is approximately 3 miles from the property. The setting combines preserve-oriented surroundings with access to nearby dining, entertainment, and coastal amenities.
Wilton Drive is only minutes away, and the beach is approximately 3 miles from the property. The setting combines preserve-oriented surroundings with access to nearby dining, entertainment, and coastal amenities.
Key Highlights
- Duplex with two updated 2‑bedroom, 1‑bath residences
- West unit includes a private pool
- Separate laundry areas and outdoor patios
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
$30,806
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
3.42%
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%
$616,120
$616.1K
Cap Rate 7%
$440,086
$440.1K
Cap Rate 9%
$342,289
$342.3K
Market Conditions
NOI Build-Up for 1,848 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
$46.6K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$44.0K $23.81/SF
− OpEx
−$13.2K −$7.14/SF
NOI
$30.8K $16.67/SF
Area
Broward County, 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%
$616,120
Cap Rate 7%
$440,086
Cap Rate 9%
$342,289
Alternative Uses
Best Use
Multifamily LT 5
$440.1K
$385.1K – $513.4K
NOI $30,806 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$406.0K
$355.3K – $473.7K
NOI $28,421 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$937.6K
$820.4K – $1.09M
NOI $65,630 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
765
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 - Two residences include separate laundry and outdoor patios within a tropical preserve-side setting.
Where is this duplex located?
The property is located at 1400 NE 21ST Street Wilton Manors, FL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Duplex with two updated 2‑bedroom, 1‑bath residences; West unit includes a private pool; Separate laundry areas and outdoor patios
