Duplex with Fenced
For Sale
$785,000
1409 NE 21st St, Wilton Manors, FL 33305
Two-unit property with updated kitchens and baths, impact windows, and separate outdoor areas.
Property Size1,485 SF
Days on Market47
Property Features for 1409 NE 21st St
General Information
Standard status
Active
Size
1,485 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$11,327
Amenities
shiny Terrazzo floors
large fenced separate yards
impact windows
Building Details
Building Size
1,485 SF
Year Built
1960
Listing Agency:
Coldwell Banker
Listed By:
Janice Agudo · License #0321020
(954) 558-3251
Source:
Relinkre
Added: Jul 29
Changed: Aug 28
Last Checked: Sep 12 at 7:14AM
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 Coldwell Banker
Investment Insights
Based on property information with market context.
Built in 1960, this 1,485-square-foot duplex includes two residential units with newer kitchens and baths. Terrazzo flooring, impact windows, and large separately fenced yards add durable interior and exterior features to the property. The asset is zoned RD-10.
Located at 1409 NE 21st Street in Wilton Manors, the property is near The Drive, downtown shopping and dining, and area beaches. Its two-unit configuration and separate fenced yards provide clearly defined residential spaces within a single property.
Located at 1409 NE 21st Street in Wilton Manors, the property is near The Drive, downtown shopping and dining, and area beaches. Its two-unit configuration and separate fenced yards provide clearly defined residential spaces within a single property.
Key Highlights
- Two‑unit duplex totaling 1,485 square feet
- Newer kitchens and baths in the units
- Terrazzo flooring and impact windows
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
$24,755
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
3.15%
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%
$495,100
$495.1K
Cap Rate 7%
$353,643
$353.6K
Cap Rate 9%
$275,056
$275.1K
Market Conditions
NOI Build-Up for 1,485 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
$37.4K $25.20/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$35.4K $23.81/SF
− OpEx
−$10.6K −$7.14/SF
NOI
$24.8K $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%
$495,100
Cap Rate 7%
$353,643
Cap Rate 9%
$275,056
Alternative Uses
Best Use
Multifamily LT 5
$353.6K
$309.4K – $412.6K
NOI $24,755 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$326.3K
$285.5K – $380.6K
NOI $22,838 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$753.4K
$659.2K – $879.0K
NOI $52,738 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated kitchens and baths, impact windows, and separate outdoor areas.
Where is this duplex located?
The property is located at 1409 NE 21st St Wilton Manors, FL.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,485 square feet; Newer kitchens and baths in the units; Terrazzo flooring and impact windows
