Updated Duplex with Guest
For Sale
Contact for pricing
1645 NE 16th Avenue, Fort Lauderdale, FL 33305
Updated duplex on a corner lot with impact windows and doors, featuring a detached 1-bedroom guest cottage.
Property Size1,742 SF
Price / SF$401.26
Days on Market111
Property Features for 1645 NE 16th Avenue
General Information
Standard status
Active
Size
1,742 SF
Property subtype
Multifamily
Zoning
RS-8
Additional Details
Multifamily Units
2
Building Details
Year Built
1951
Units
2
Listing Agency:
Coldwell Banker Realty
Listed By:
Derrick Buford · License #3015731
Source:
Crexi
Added: May 21
Changed: Sep 7
Last Checked: Sep 7 at 1:26AM
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 Realty
Investment Insights
Based on property information with market context.
This updated duplex offers two separate living areas with updated kitchens and baths, along with impact windows and doors. The main residence provides three bedrooms and two bathrooms with abundant natural light, while the detached one-bedroom, one-bath guest cottage includes an additional finished room suitable for flexible use.
The property is situated on a generous corner lot in a central area of Poinsettia Heights, with convenient access to Fort Lauderdale Beach, Wilton Manors, Las Olas, and nearby shopping, dining, and entertainment.
Offered for sale, the configuration supports owner-occupancy with rental income, multigenerational living, or investment ownership.
The property is situated on a generous corner lot in a central area of Poinsettia Heights, with convenient access to Fort Lauderdale Beach, Wilton Manors, Las Olas, and nearby shopping, dining, and entertainment.
Offered for sale, the configuration supports owner-occupancy with rental income, multigenerational living, or investment ownership.
Key Highlights
- Year built 1951 updated duplex with a spacious 3‑bedroom, 2‑bath main residence
- Detached 1‑bedroom, 1‑bath guest cottage plus an additional finished room for an office, studio, or den
- Updated kitchens and baths throughout
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
$29,039
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
4.15%
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%
$580,780
$580.8K
Cap Rate 7%
$414,843
$414.8K
Cap Rate 9%
$322,656
$322.7K
Market Conditions
NOI Build-Up for 1,742 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
$43.9K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$41.5K $23.81/SF
− OpEx
−$12.4K −$7.14/SF
NOI
$29.0K $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%
$580,780
Cap Rate 7%
$414,843
Cap Rate 9%
$322,656
Alternative Uses
Best Use
Multifamily LT 5
$414.8K
$363.0K – $484.0K
NOI $29,039 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$373.7K
$327.0K – $436.0K
NOI $26,158 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,944 @ 7.0% cap · market cap 11.72%
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
1,471
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 - Updated duplex on a corner lot with impact windows and doors, featuring a detached 1-bedroom guest cottage.
Where is this duplex located?
The property is located at 1645 NE 16th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Year built 1951 updated duplex with a spacious 3‑bedroom, 2‑bath main residence; Detached 1‑bedroom, 1‑bath guest cottage plus an additional finished room for an office, studio, or den; Updated kitchens and baths throughout
