Two-Unit Residential Income
For Sale
$455,000
1429 N Andrews Ave, Fort Lauderdale, FL 33301
Cozy duplex-style property with two 1-bed, 1-bath units, each with in-unit washer/dryer and separate electrical meters.
Property Size1,000 SF
Price / SF$455
Days on Market141
Property Features for 1429 N Andrews Ave
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,675
Amenities
impact windows
washer and dryer
separate electrical meters
Building Details
Tenancy
Multi
Listing Agency:
CPRE Organization Inc
(954) 709-1003
Listed By:
Cole D Leavitt · License #3238799
(954) 709-1003
Source:
Exprealty
Added: Apr 11
Changed: Aug 23
Last Checked: Aug 29 at 1:24PM
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 CPRE Organization Inc
Investment Insights
Based on property information with market context.
This two-unit residential income property features two separate 1-bedroom, 1-bath units. Each unit includes impact windows and an in-unit washer and dryer. Separate electrical meters support independent metering between the two units.
The property is located on N Andrews Ave and described as being within walking distance to Publix and ALDI, with proximity to Sunrise BLVD, restaurants, gyms, and the beach of Fort Lauderdale.
For investors or owner-occupants looking for a straightforward duplex configuration, the existing unit setup and separately metered utilities provide a practical framework for day-to-day management.
The property is located on N Andrews Ave and described as being within walking distance to Publix and ALDI, with proximity to Sunrise BLVD, restaurants, gyms, and the beach of Fort Lauderdale.
For investors or owner-occupants looking for a straightforward duplex configuration, the existing unit setup and separately metered utilities provide a practical framework for day-to-day management.
Key Highlights
- Duplex‑style property with 2 units, each offering 1 bed and 1 bath
- Impact windows
- In‑unit washer/dryer in each unit
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
$16,670
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
3.66%
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%
$333,400
$333.4K
Cap Rate 7%
$238,143
$238.1K
Cap Rate 9%
$185,222
$185.2K
Market Conditions
NOI Build-Up for 1,000 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
$25.2K $25.20/SF
− Vacancy
−$1.4K −$1.39/SF
EGI
$23.8K $23.81/SF
− OpEx
−$7.1K −$7.14/SF
NOI
$16.7K $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%
$333,400
Cap Rate 7%
$238,143
Cap Rate 9%
$185,222
Alternative Uses
Best Use
Multifamily LT 5
$238.1K
$208.4K – $277.8K
NOI $16,670 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$214.5K
$187.7K – $250.3K
NOI $15,016 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$672.0K
$588.0K – $784.0K
NOI $47,040 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,559
Businesses Nearby
Explore this area
Business Placement
Demographics for 33301, FL
19,109
Population
13,955
Households
1.4
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
2.5 sq mi
ZIP Area
7,644
Density / Sq Mi
$115,421
Median Household Income
$76,365
Median Earnings
$2,341
Median Rent
$751,600
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 - Cozy duplex-style property with two 1-bed, 1-bath units, each with in-unit washer/dryer and separate electrical meters.
Where is this duplex located?
The property is located at 1429 N Andrews Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Duplex‑style property with 2 units, each offering 1 bed and 1 bath; Impact windows; In‑unit washer/dryer in each unit
