Income-Producing Duplex with Rented
For Sale
$399,900
2261 NW 2nd Street, Pompano Beach, FL 33069
Both residences are occupied, with separate electrical panels and a shared water meter serving the property.
Property Size988 SF
Price / SF$404.76
Days on Market150
Property Features for 2261 NW 2nd Street
General Information
Standard status
Active
Size
988 SF
Property subtype
Duplex
Zoning
RM-12
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$8,288
Building Details
Building Size
988 SF
Year Built
1959
Tenancy
Multi
Listing Agency:
EXP Realty LLC
(561) 541-9235
Listed By:
Andressa Cavalcanti Abreu LLC · License #3537582
(561) 541-9235
Source:
Pamandtoni
Added: Mar 12
Changed: Aug 3
Last Checked: Aug 8 at 9:03AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This duplex was built in 1959 and includes two currently rented residences. The property is served by a shared water meter, while each unit has its own electrical panel. The 988-square-foot building sits on nearly a 0.25-acre lot, providing a compact residential income asset with substantial land relative to the existing improvement.
The property is located at 2261 NW 2nd Street in Pompano Beach, Florida. RM-12 zoning is identified as multifamily, supporting the property’s current duplex classification and providing a clear land-use designation for review. Buyers should verify zoning, development parameters, and all property information with the City of Pompano Beach.
The property is located at 2261 NW 2nd Street in Pompano Beach, Florida. RM-12 zoning is identified as multifamily, supporting the property’s current duplex classification and providing a clear land-use designation for review. Buyers should verify zoning, development parameters, and all property information with the City of Pompano Beach.
Key Highlights
- Two‑unit duplex with both residences currently rented
- 988‑square‑foot building constructed in 1959
- Nearly a 0.25‑acre lot
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
$16,522
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
4.13%
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%
$330,440
$330.4K
Cap Rate 7%
$236,029
$236.0K
Cap Rate 9%
$183,578
$183.6K
Market Conditions
NOI Build-Up for 988 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
$24.9K $25.20/SF
− Vacancy
−$1.3K −$1.31/SF
EGI
$23.6K $23.89/SF
− OpEx
−$7.1K −$7.17/SF
NOI
$16.5K $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%
$330,440
Cap Rate 7%
$236,029
Cap Rate 9%
$183,578
Alternative Uses
Best Use
Multifamily LT 5
$236.0K
$206.5K – $275.4K
NOI $16,522 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$216.8K
$189.7K – $253.0K
NOI $15,177 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$385.3K
$337.2K – $449.5K
NOI $26,972 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 33069, FL
28,817
Population
16,052
Households
1.8
Avg Household Size
42
Median Age
32%
College-Educated
86%
High-School Grad
9.4 sq mi
ZIP Area
3,066
Density / Sq Mi
$57,462
Median Household Income
$35,725
Median Earnings
$1,685
Median Rent
$253,000
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 - Both residences are occupied, with separate electrical panels and a shared water meter serving the property.
Where is this duplex located?
The property is located at 2261 NW 2nd Street Pompano Beach, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex with both residences currently rented; 988‑square‑foot building constructed in 1959; Nearly a 0.25‑acre lot
