Solar-Powered Income
For Sale
$539,900
Pending
1885 NE 53rd Street, Pompano Beach, FL 33064
Two detached residential units on one lot include a legal efficiency unit and a full solar power system.
Property Size2,009 SF
Days on Market51
Property Features for 1885 NE 53rd Street
General Information
Standard status
Pending
Size
2,009 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1955
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Roberto L Barreto · License #3198539
(954) 243-8678
Source:
Lehmannflorida
Added: Jul 20
Changed: Aug 21
Last Checked: Aug 19 at 8:07AM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This income-producing property features two detached living units on a single lot, designed to support separate living arrangements. The main home includes approximately 1,675 square feet, with 6 bedrooms and 2 bathrooms, and is currently rented. A rear separate efficiency unit includes approximately 240 square feet with 1 bedroom, 1 bathroom, and a full kitchen.
The property is located in East Pompano Beach just west of US-1, with shopping, beaches, and major highways nearby. A full solar power system is included and the public remarks state there is no electric bill.
The total stated rental income is $6,000 per month, with the main home generating $4,800 per month and the efficiency unit generating $1,200 per month. Showings are by appointment only and tenants should not be disturbed.
The property is located in East Pompano Beach just west of US-1, with shopping, beaches, and major highways nearby. A full solar power system is included and the public remarks state there is no electric bill.
The total stated rental income is $6,000 per month, with the main home generating $4,800 per month and the efficiency unit generating $1,200 per month. Showings are by appointment only and tenants should not be disturbed.
Key Highlights
- Two detached residential units on one lot, including a legal efficiency unit
- Main home: approx. 1,675 SF with 6 bedrooms and 2 bathrooms; currently rented for $4,800/month
- Rear efficiency unit: approx. 240 SF with 1 bedroom, 1 bathroom, and a full kitchen; currently rented for $1,200/month
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
$33,596
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
6.22%
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%
$671,920
$671.9K
Cap Rate 7%
$479,943
$479.9K
Cap Rate 9%
$373,289
$373.3K
Market Conditions
NOI Build-Up for 2,009 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
$50.6K $25.20/SF
− Vacancy
−$2.6K −$1.31/SF
EGI
$48.0K $23.89/SF
− OpEx
−$14.4K −$7.17/SF
NOI
$33.6K $16.72/SF
Area
Pompano Beach, FL
Vacancy
5.20%
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%
$671,920
Cap Rate 7%
$479,943
Cap Rate 9%
$373,289
Alternative Uses
Best Use
Multifamily LT 5
$479.9K
$420.0K – $559.9K
NOI $33,596 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$440.9K
$385.8K – $514.4K
NOI $30,861 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$783.5K
$685.6K – $914.1K
NOI $54,846 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,452
Businesses Nearby
Explore this area
Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
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 detached residential units on one lot include a legal efficiency unit and a full solar power system.
Where is this duplex located?
The property is located at 1885 NE 53rd Street Pompano Beach, FL.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Two detached residential units on one lot, including a legal efficiency unit; Main home: approx. 1,675 SF with 6 bedrooms and 2 bathrooms; currently rented for $4,800/month; Rear efficiency unit: approx. 240 SF with 1 bedroom, 1 bathroom, and a full kitchen; currently rented for $1,200/month
