Remodeled Duplex for
For Sale
$739,999
2609 NW 9th Avenue, Wilton Manors, FL 33311
MULTI_FAMILY - Wilton Manors, FL
Property Size1,638 SF
Price / SF$451.77
Days on Market994
Property Features for 2609 NW 9th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RD-10
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3
Fencing
Fenced
Subdivision
Bonie Villas Sec One 57-2
Directions
West on Oakland Park Blvd. South on NW 9th Ave.
Standard status
Active
APN
494228120070
Size
1,638 SF
Taxes and HOA fees
Tax Year
2022
Tax Description
BONIE VILLAS SEC ONE 57-21 B LOT 7 BLK 1
Tax Annual Amount
11619
Legal Description
BONIE VILLAS SEC ONE 57-21 B LOT 7 BLK 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Amenities
courtyard
landscaping
Building Details
Year built
1964
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block
Roof type
Composition, Shingle
Listing Agency:
Select Homes Realty Group LLC
(954) 263-6461
Listed By:
John H Spellman · License #3328980
(954) 256-4043
Added: Nov 17, 2023
Changed: Aug 5
Last Checked: Aug 7 at 1:06PM
MLS# F10410104
Copyright © 2026 BeachesMLS. 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.
This remodeled duplex offers a straightforward investment setup with two separate sides, each with 2 bedrooms and 1 bathroom. The home features block construction and tile flooring, with central heat and central air plus ceiling fans. The property is enclosed with fencing and includes a courtyard with landscaping, along with cable available and public sewer service. Roofing consists of shingle and composition materials, and the home was built in 1964.
Utilities include cable available, and the property is connected to public sewer. Zoning is RD-10.
Each side of the duplex is configured for tenant-ready living with bedrooms and baths on both sides, supported by the central HVAC systems already in place.
Utilities include cable available, and the property is connected to public sewer. Zoning is RD-10.
Each side of the duplex is configured for tenant-ready living with bedrooms and baths on both sides, supported by the central HVAC systems already in place.
Key Highlights
- Remodeled duplex with two sides, each offering 2 bedrooms and 1 bathroom
- RD‑10 zoning
- Block construction and tile flooring
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
$27,305
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
3.69%
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%
$546,100
$546.1K
Cap Rate 7%
$390,071
$390.1K
Cap Rate 9%
$303,389
$303.4K
Market Conditions
NOI Build-Up for 1,638 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
$41.3K $25.20/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$39.0K $23.81/SF
− OpEx
−$11.7K −$7.14/SF
NOI
$27.3K $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%
$546,100
Cap Rate 7%
$390,071
Cap Rate 9%
$303,389
Alternative Uses
Best Use
Multifamily LT 5
$390.1K
$341.3K – $455.1K
NOI $27,305 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$359.9K
$314.9K – $419.9K
NOI $25,191 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$831.0K
$727.2K – $969.5K
NOI $58,172 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,496
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Remodeled block duplex with two 2-bedroom, 1-bath units, centrally cooled and heated, in RD-10 zoning.
Where is this duplex located?
The property is located at 2609 NW 9th Avenue Wilton Manors, FL.
What is the asking price?
The asking price for this property is $739,999.
What are key features of this property?
This property features: Remodeled duplex with two sides, each offering 2 bedrooms and 1 bathroom; RD‑10 zoning; Block construction and tile flooring
