Updated Duplex With Private
For Sale
Contact for pricing
Pending
1610-1612 NE 56th Street, Fort Lauderdale, FL 33334
Fully updated duplex with central A/C, screened patios, fenced yards, and separate utilities for each unit.
Property Size2,114 SF
Days on Market191
Property Features for 1610-1612 NE 56th Street
General Information
Standard status
Pending
Size
2,114 SF
Property subtype
Multifamily
Zoning
RMM-25
Occupancy
100%
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Year Built
1964
Units
2
Listing Agency:
Vallee Real Estate Inc
(954) 632-1262
Listed By:
Heather Vallee · License #3030579
Source:
Crexi
Added: Feb 10
Changed: Aug 8
Last Checked: Jul 24 at 2:17PM
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 Vallee Real Estate Inc
Investment Insights
Based on property information with market context.
This rarely available updated duplex features two identical layouts, each designed around two oversized bedrooms with large walk-in closets and private baths. Both units include updated kitchens with new appliances, in-unit laundry with a dedicated washer and dryer area, and private screened patios overlooking fenced yards. The property also includes separate updated electric meters (2019) and separate water meters, along with brand new PVC plumbing installed in 2025, replacing cast iron pipes. Central A/C serves each unit, supporting year-round comfort. The duplex is served by a circular, paver driveway offering ample parking, and the exterior is landscaped.
The property is located in the Coral Ridge Isles area of Fort Lauderdale and is described as being within 3 miles of Fort Lauderdale beach. Access is provided via the circular driveway and on-site parking.
For buyers seeking a residential income property with two self-contained units, this duplex offers practical separation of electric and water, along with private outdoor space and individually equipped laundry areas. The current leases and fully rented status may appeal to operators looking to acquire a turnkey rental duplex with recent major improvements, including updated meters and new plumbing.
The property is located in the Coral Ridge Isles area of Fort Lauderdale and is described as being within 3 miles of Fort Lauderdale beach. Access is provided via the circular driveway and on-site parking.
For buyers seeking a residential income property with two self-contained units, this duplex offers practical separation of electric and water, along with private outdoor space and individually equipped laundry areas. The current leases and fully rented status may appeal to operators looking to acquire a turnkey rental duplex with recent major improvements, including updated meters and new plumbing.
Key Highlights
- Fully updated 1964 duplex with central A/C
- Each unit features 2 oversized bedrooms with large walk‑in closets and private baths in each room
- Updated kitchens with new appliances, plus separate laundry room with W&D 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
$35,240
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
4.46%
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%
$704,800
$704.8K
Cap Rate 7%
$503,429
$503.4K
Cap Rate 9%
$391,556
$391.6K
Market Conditions
NOI Build-Up for 2,114 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
$53.3K $25.20/SF
− Vacancy
−$2.9K −$1.39/SF
EGI
$50.3K $23.81/SF
− OpEx
−$15.1K −$7.14/SF
NOI
$35.2K $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%
$704,800
Cap Rate 7%
$503,429
Cap Rate 9%
$391,556
Alternative Uses
Best Use
Multifamily LT 5
$503.4K
$440.5K – $587.3K
NOI $35,240 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$453.5K
$396.8K – $529.1K
NOI $31,745 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,443 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,016
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully updated duplex with central A/C, screened patios, fenced yards, and separate utilities for each unit.
Where is this duplex located?
The property is located at 1610-1612 NE 56th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Fully updated 1964 duplex with central A/C; Each unit features 2 oversized bedrooms with large walk‑in closets and private baths in each room; Updated kitchens with new appliances, plus separate laundry room with W&D in each unit
