Income-Producing
For Sale
$295,900
2108 Avenue E, Fort Pierce, FL 34950
MULTI_FAMILY - Fort Pierce, FL
Property Size1,152 SF
Price / SF$256.86
Days on Market286
Property Features for 2108 Avenue E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MF
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4
Pets allowed
Yes, No
Subdivision
Augusta S/D
Lot features
Interior Lot
View
City
Elementary school
Weatherbee
Middle school
Dan Mccarty
High school
Fort Pierce Westwood Academy
Directions
Ave E between N 21 & 22nd streets
Standard status
Active
APN
240470900400004
Size
1,152 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
AUGUSTA S/D BLK 2 LOT 14 (OR 4239-1493)
Tax Annual Amount
2153
Legal Description
AUGUSTA S/D BLK 2 LOT 14 (OR 4239-1493)
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Concrete
Roof type
Shingle, Composition
Listing Agency:
RE/MAX Gold · RE/MAX International
(772) 607-9600
Listed By:
Gregory H Dalessio · License #0571729
(772) 486-7880
Added: Oct 28, 2025
Changed: Aug 7
Last Checked: Aug 9 at 1:06AM
MLS# R11136030
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This income-producing duplex includes two tenant-occupied units. Each unit provides two bedrooms and one bathroom. Interior updates include fresh interior paint, updated cabinets, and remodeled bathrooms described as brand-new. The property is built with concrete construction and features tile - ceramic flooring. Cooling is provided by wall/window unit(s). The roof is described as new, with composition and shingle roofing noted.
Public utilities support the property with water available and public sewer. The home is served by public water and sewer.
Built in 1964, the duplex offers straightforward, repeatable unit layouts that can fit a range of residential investor strategies focused on tenant-occupied income.
Public utilities support the property with water available and public sewer. The home is served by public water and sewer.
Built in 1964, the duplex offers straightforward, repeatable unit layouts that can fit a range of residential investor strategies focused on tenant-occupied income.
Key Highlights
- Two tenant‑occupied duplex units, each with two bedrooms and one bathroom
- Fresh interior paint and updated cabinets in both units
- Remodeled bathrooms described as brand‑new
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
$16,917
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
5.72%
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%
$338,340
$338.3K
Cap Rate 7%
$241,671
$241.7K
Cap Rate 9%
$187,967
$188.0K
Market Conditions
NOI Build-Up for 1,152 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
$25.6K $22.20/SF
− Vacancy
−$1.4K −$1.22/SF
EGI
$24.2K $20.98/SF
− OpEx
−$7.3K −$6.29/SF
NOI
$16.9K $14.69/SF
Area
St. Lucie County, FL
Vacancy
5.50%
Lease Rate
$22.20 /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%
$338,340
Cap Rate 7%
$241,671
Cap Rate 9%
$187,967
Alternative Uses
Best Use
Multifamily LT 5
$241.7K
$211.5K – $282.0K
NOI $16,917 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$224.4K
$196.3K – $261.8K
NOI $15,707 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$289.7K
$253.5K – $338.0K
NOI $20,280 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
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 - Concrete duplex with two tenant-occupied units, public water and public sewer, and two-bedroom floor plans.
Where is this duplex located?
The property is located at 2108 Avenue E Fort Pierce, FL.
What is the asking price?
The asking price for this property is $295,900.
What are key features of this property?
This property features: Two tenant‑occupied duplex units, each with two bedrooms and one bathroom; Fresh interior paint and updated cabinets in both units; Remodeled bathrooms described as brand‑new
