Duplex with Fenced
New
For Sale
$1,200,000
2121 NE 51st Court, Fort Lauderdale, FL 33308
Two furnished residences have separate water and electric meters and currently operate as a short-term rental.
Property Size2,500 SF
Price / SF$480
Days on Market5
Property Features for 2121 NE 51st Court
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Furnished
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$16,131
Amenities
pool
fenced backyard
covered patio
Building Details
Building Size
2,500 SF
Year Built
1964
Listing Agency:
NextHome Realty Professionals
Listed By:
Guy Weissmann · License #3403911
(954) 544-1060
Source:
Pamandtoni
Added: Oct 2
Changed: Oct 6
Last Checked: Oct 5 at 11:18PM
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 NextHome Realty Professionals
Investment Insights
Based on property information with market context.
This Fort Lauderdale duplex contains two furnished residences, each with 2 bedrooms and 2 bathrooms. Both units have updated kitchens with new appliances, along with refreshed bathrooms and flooring. A 2024 roof replacement and hurricane-impact windows and doors are among the property’s recent improvements.
The outdoor area includes a fenced pool, plus a separate fenced backyard and covered patio for each residence. The property is 1.5 miles from the beach and has separate water and electric meters. It is currently operating as a short-term rental.
The outdoor area includes a fenced pool, plus a separate fenced backyard and covered patio for each residence. The property is 1.5 miles from the beach and has separate water and electric meters. It is currently operating as a short-term rental.
Key Highlights
- Two furnished residences, each with 2 bedrooms and 2 bathrooms
- Operating as a short‑term rental
- New roof and hurricane‑impact windows and doors installed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,675
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$833,500
$833.5K
Cap Rate 7%
$595,357
$595.4K
Cap Rate 9%
$463,056
$463.1K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$63.0K $25.20/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$59.5K $23.81/SF
− OpEx
−$17.9K −$7.14/SF
NOI
$41.7K $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 Rate 5%
$833,500
Cap Rate 7%
$595,357
Cap Rate 9%
$463,056
Alternative Uses
Best Use
Multifamily LT 5
$595.4K
$520.9K – $694.6K
NOI $41,675 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$536.3K
$469.3K – $625.7K
NOI $37,541 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,600 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,855
Businesses Nearby
Explore this area
Business Placement
Demographics for 33308, FL
29,519
Population
23,230
Households
1.3
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
6,417
Density / Sq Mi
$83,413
Median Household Income
$58,600
Median Earnings
$1,850
Median Rent
$536,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two furnished residences have separate water and electric meters and currently operate as a short-term rental.
Where is this duplex located?
The property is located at 2121 NE 51st Court Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two furnished residences, each with 2 bedrooms and 2 bathrooms; Operating as a short‑term rental; New roof and hurricane‑impact windows and doors installed in 2024
