Duplex with Separate
For Sale
$2,500,000
2431 NE 20th Ave, Lighthouse Point, FL 33064
Residential Income, Lighthouse Point, FL
Property Size5,754 SF
Price / SF$434.48
Days on Market114
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 4, Bedroom 2, Bathroom 2, Bathroom 5, Bathroom 6, Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 1, Bedroom 6, Bedroom 5, Bathroom 1
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: Sep 16
Last Checked: Oct 1 at 9:06AM
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.
Completed in 2022, this 5,754-square-foot duplex contains two independent residences with separate entrances. The configuration supports distinct household living arrangements while keeping both homes within one property. The residences include six bedrooms and six bathrooms overall, along with tile flooring and central heating and cooling.
Construction uses block walls, with a metal roof and public sewer service. The layout provides flexibility for multigenerational households, private guest accommodation, live-in support, or a dedicated workspace, subject to the applicable use requirements.
Construction uses block walls, with a metal roof and public sewer service. The layout provides flexibility for multigenerational households, private guest accommodation, live-in support, or a dedicated workspace, subject to the applicable use requirements.
Key Highlights
- Two independent residences with separate entrances
- 5,754 square feet completed in 2022
- Six bedrooms and six bathrooms overall
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
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Open Analytics
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
Check the figures for this property
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 self-contained homes offer distinct living areas and private entrances on a single lot.
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 with separate entrances; 5,754 square feet completed in 2022; Six bedrooms and six bathrooms overall
