Updated Duplex with New
For Sale
$849,999
2440 Hayes Street Unit 15, Hollywood, FL 33020
Two independent residences offer updated interiors, separate electric meters, and private laundry rooms.
Property Size3,450 SF
Price / SF$246.38
Days on Market236
Property Features for 2440 Hayes Street Unit 15
General Information
Standard status
Active
Size
3,450 SF
Property subtype
Multi-Family Income / Duplex
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$14,060
Amenities
in-unit laundry
Building Details
Year Built
1969
Buildings
1
Listing Agency:
Atlantic Realty & Inv. Corp.
(786) 252-1333
Listed By:
Tomy Jacob · License #3219737
(786) 252-1333
Source:
Compass
Added: Jan 6
Changed: Aug 29
Last Checked: Aug 29 at 6:54PM
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 Atlantic Realty & Inv. Corp.
Investment Insights
Based on property information with market context.
This 3,450-square-foot duplex contains two self-contained residences, each configured with 3 bedrooms and 3 bathrooms. Interior improvements include renovated kitchens, refreshed bathrooms, and new flooring throughout both units. Each residence also has its own laundry room and separate electric meter, while the property has a new roof. Built in 1969, the layout supports distinct household living within one multifamily asset.
The property is located in Hollywood near Hard Rock Stadium, Hollywood Beaches, and Fort Lauderdale-Hollywood International Airport. Port Everglades, I-95, the Turnpike, and shopping centers are also accessible from the property.
The property is located in Hollywood near Hard Rock Stadium, Hollywood Beaches, and Fort Lauderdale-Hollywood International Airport. Port Everglades, I-95, the Turnpike, and shopping centers are also accessible from the property.
Key Highlights
- 3,450‑square‑foot duplex with two 3‑bedroom, 3‑bathroom units
- Updated kitchens, contemporary bathrooms, and new flooring in both residences
- New roof completed for the property
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
$61,814
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
7.27%
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%
$1,236,280
$1.2M
Cap Rate 7%
$883,057
$883.1K
Cap Rate 9%
$686,822
$686.8K
Market Conditions
NOI Build-Up for 3,450 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
$93.2K $27.00/SF
− Vacancy
−$4.8K −$1.40/SF
EGI
$88.3K $25.60/SF
− OpEx
−$26.5K −$7.68/SF
NOI
$61.8K $17.92/SF
Area
Hollywood, FL
Vacancy
5.20%
Lease Rate
$27.00 /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%
$1,236,280
Cap Rate 7%
$883,057
Cap Rate 9%
$686,822
Alternative Uses
Best Use
Multifamily LT 5
$883.1K
$772.7K – $1.03M
NOI $61,814 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$821.5K
$718.8K – $958.4K
NOI $57,504 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,475 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,522
Businesses Nearby
Explore this area
Business Placement
Demographics for 33020, FL
45,044
Population
22,508
Households
2
Avg Household Size
41
Median Age
29%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
7,507
Density / Sq Mi
$52,535
Median Household Income
$32,449
Median Earnings
$1,444
Median Rent
$306,700
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 - Two independent residences offer updated interiors, separate electric meters, and private laundry rooms.
Where is this duplex located?
The property is located at 2440 Hayes Street Unit 15 Hollywood, FL.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: 3,450‑square‑foot duplex with two 3‑bedroom, 3‑bathroom units; Updated kitchens, contemporary bathrooms, and new flooring in both residences; New roof completed for the property
