Duplex With Separate
For Sale
$2,500,000
2431 NE 20th Ave, Lighthouse Point, FL 33064
MULTI_FAMILY - Lighthouse Point, FL
Property Size5,754 SF
Price / SF$434.48
Days on Market67
Property Features for 2431 NE 20th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RD-10
Bedrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bedroom 6, Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 6, Bedroom 5, Bathroom 3
Parking
4
Subdivision
HILLSBORO ISLES
Standard status
Active
APN
484319110070
Size
5,754 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HILLSBORO ISLES 29-4 B LOT 7 BLK 1
Tax Annual Amount
42794
Legal Description
HILLSBORO ISLES 29-4 B LOT 7 BLK 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2022
Floors in Building
2
Flooring type
Tile
Building materials
Block
Roof type
Metal
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Svetlana Mihova · License #3275045
(850) 461-6787
Added: Jun 10
Changed: Aug 13
Last Checked: Aug 15 at 12:06PM
MLS# A12034105
Copyright © 2026 Miami REALTORS®. 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.
Duplex offering two independent residences on one lot, with separation supported by separate entrances. The interior features tile flooring throughout, and the homes are served by central heating and central air. Constructed with block materials and finished with a metal roof, the property is connected to public sewer.
Built in 2022, this setup is designed to support flexible living arrangements while keeping each residence distinct. The room mix includes six bedrooms and six bathrooms across the two residences, with multiple bathrooms listed for each unit.
For buyers seeking a duplex configuration where separate living spaces can remain self-contained, this property combines a modern build with practical utilities and durable exterior materials.
Built in 2022, this setup is designed to support flexible living arrangements while keeping each residence distinct. The room mix includes six bedrooms and six bathrooms across the two residences, with multiple bathrooms listed for each unit.
For buyers seeking a duplex configuration where separate living spaces can remain self-contained, this property combines a modern build with practical utilities and durable exterior materials.
Key Highlights
- Two independent residences on one lot with separate entrances
- 6 bedrooms and 6 bathrooms across the two residences
- Central heating and central air
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
$95,918
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
3.84%
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%
$1,918,360
$1.9M
Cap Rate 7%
$1,370,257
$1.4M
Cap Rate 9%
$1,065,756
$1.1M
Market Conditions
NOI Build-Up for 5,754 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
$145.0K $25.20/SF
− Vacancy
−$8.0K −$1.39/SF
EGI
$137.0K $23.81/SF
− OpEx
−$41.1K −$7.14/SF
NOI
$95.9K $16.67/SF
Area
Broward County, 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%
$1,918,360
Cap Rate 7%
$1,370,257
Cap Rate 9%
$1,065,756
Alternative Uses
Best Use
Multifamily LT 5
$1.37M
$1.20M – $1.60M
NOI $95,918 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$1.26M
$1.11M – $1.47M
NOI $88,493 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$2.92M
$2.55M – $3.41M
NOI $204,347 @ 7.0% cap · market cap 8.17%
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
1,087
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex built in 2022 with central HVAC, metal roof, tile flooring, and public sewer.
Where is this duplex located?
The property is located at 2431 NE 20th Ave Lighthouse Point, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Two independent residences on one lot with separate entrances; 6 bedrooms and 6 bathrooms across the two residences; Central heating and central air
