One-Story
For Sale
$427,000
1429 N Andrews Avenue, Fort Lauderdale, FL 33311
Two-unit residential property with a compact layout and established Fort Lauderdale address.
Property Size1,000 SF
Price / SF$427
Days on Market17
Property Features for 1429 N Andrews Avenue
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,675
Building Details
Building Size
1,000 SF
Year Built
1954
Stories
1
Listing Agency:
CPRE Organization Inc
(954) 709-1003
Listed By:
Cole D Leavitt · License #3238799
(954) 709-1003
Source:
Tylertuchow
Added: Jul 31
Changed: Aug 14
Last Checked: Aug 16 at 3:09PM
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 one-story duplex contains 1,000 square feet of finished living space arranged for two residential units. The property was built in 1954 and offers a compact configuration suited to duplex ownership or occupancy by one household alongside a second unit.
The property is located at 1429 N Andrews Avenue in Fort Lauderdale, Florida, within the Progresso community and 33311 ZIP code. Its established residential setting provides a straightforward option for buyers seeking a small-scale multifamily asset.
The property is located at 1429 N Andrews Avenue in Fort Lauderdale, Florida, within the Progresso community and 33311 ZIP code. Its established residential setting provides a straightforward option for buyers seeking a small-scale multifamily asset.
Key Highlights
- Duplex configuration with 1,000 square feet of finished living space
- One‑story property built in 1954
- Located at 1429 N Andrews Avenue, Fort Lauderdale, FL 33311
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
3.90%
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 3.90%
Second Best
Apartment 5plus
$214.5K
$187.7K – $250.3K
NOI $15,016 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$672.0K
$588.0K – $784.0K
NOI $47,040 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,832
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with a compact layout and established Fort Lauderdale address.
Where is this duplex located?
The property is located at 1429 N Andrews Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $427,000.
What are key features of this property?
This property features: Duplex configuration with 1,000 square feet of finished living space; One‑story property built in 1954; Located at 1429 N Andrews Avenue, Fort Lauderdale, FL 33311
