Duplex with Two-Car
For Sale
$599,000
2721-2731 SW 13 Avenue, Fort Lauderdale, FL 33315
Two residential units offer backyard space and a roof replaced within the past few years.
Property Size1,661 SF
Price / SF$360.63
Days on Market65
Property Features for 2721-2731 SW 13 Avenue
General Information
Standard status
Active
Size
1,661 SF
Total Parking Spaces
2
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
could use some updating
Taxes and HOA fees
Annual Taxes
$7,761
Amenities
backyard
Building Details
Year Built
1965
Stories
1
Listing Agency:
RE/MAX Consultants Realty 1
Listed By:
Peter S LeMieux · License #695146
(954) 806-4947
Source:
Laerrealty
Added: Jul 5
Changed: Aug 31
Last Checked: Sep 7 at 4:51AM
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 RE/MAX Consultants Realty 1
Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 1-bathroom units within approximately 1,661 square feet of building area. The property was built in 1965 and includes a front carport accommodating two vehicles. A roof replacement completed within the past few years is another notable improvement. Each unit also has access to a backyard, providing outdoor space for occupants.
The property is positioned off Marina Mile at 2721-2731 SW 13 Avenue in Fort Lauderdale, Florida 33315. The existing tenant occupancy should be considered when arranging property access or inspections. The interiors may benefit from updating, while the duplex configuration and established residential layout provide a clear foundation for continued rental use.
The property is positioned off Marina Mile at 2721-2731 SW 13 Avenue in Fort Lauderdale, Florida 33315. The existing tenant occupancy should be considered when arranging property access or inspections. The interiors may benefit from updating, while the duplex configuration and established residential layout provide a clear foundation for continued rental use.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bathroom units
- Approximately 1,661 square feet of building area
- Front carport accommodates 2 vehicles
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
$27,689
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
4.62%
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%
$553,780
$553.8K
Cap Rate 7%
$395,557
$395.6K
Cap Rate 9%
$307,656
$307.7K
Market Conditions
NOI Build-Up for 1,661 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
$41.9K $25.20/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$39.6K $23.81/SF
− OpEx
−$11.9K −$7.14/SF
NOI
$27.7K $16.67/SF
Area
Fort Lauderdale, 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%
$553,780
Cap Rate 7%
$395,557
Cap Rate 9%
$307,656
Alternative Uses
Best Use
Multifamily LT 5
$395.6K
$346.1K – $461.5K
NOI $27,689 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$356.3K
$311.8K – $415.7K
NOI $24,942 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.12M
$976.7K – $1.30M
NOI $78,133 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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 residential units offer backyard space and a roof replaced within the past few years.
Where is this duplex located?
The property is located at 2721-2731 SW 13 Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 1‑bathroom units; Approximately 1,661 square feet of building area; Front carport accommodates 2 vehicles
