Updated Duplex with Central
For Sale
$549,900
2840 NW 13th Court, Fort Lauderdale, FL 33311
MULTI_FAMILY - Fort Lauderdale, FL
Property Size1,818 SF
Lot Size0.12 Acres
Price / SF$302.48
Days on Market98
Property Features for 2840 NW 13th Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RD-10
Bedrooms
5
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 1
Pets allowed
Yes
Fencing
Chain Link
Subdivision
WASHINGTON PARK FOURTH ADD
Elementary school
Dillard
Middle school
Dillard 6-12
High school
Dillard 6-12
Standard status
Active
APN
494232014940
Size
1,818 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WASHINGTON PARK FOURTH ADD 22-44 B LOT 6 BLK 54
Tax Annual Amount
7243
Legal Description
WASHINGTON PARK FOURTH ADD 22-44 B LOT 6 BLK 54
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
central A/C
Building Details
Year built
1983
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Concrete Block - With Stucco
Roof type
Shingle, Flat
Listing Agency:
VantaSure Realty LLC
(954) 461-5734
Listed By:
Stacy L Koury · License #3321605
(954) 734-4338
Added: May 17
Changed: Aug 5
Last Checked: Aug 22 at 3:06PM
MLS# B26029690
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 updated duplex offers two separate units in a concrete block with stucco building constructed in 1983. The first unit is a two-bedroom, one-bath and has a lease in place through January 2027. The second unit is a three-bedroom, two-bath, providing flexibility for an owner-occupant or additional rental use. Updates include new flooring, modern kitchen cabinets and countertops, and renovated bathrooms.
On the systems and utilities side, both units have central A/C. Separate electric and water meters support independent management. The property includes public water and public sewer service, chain-link fencing, and four parking spaces. Roofing consists of flat and shingle components, with a newer roof installed in 2022.
Additional on-site features include tile flooring and central heating, supporting comfortable year-round use.
On the systems and utilities side, both units have central A/C. Separate electric and water meters support independent management. The property includes public water and public sewer service, chain-link fencing, and four parking spaces. Roofing consists of flat and shingle components, with a newer roof installed in 2022.
Additional on-site features include tile flooring and central heating, supporting comfortable year-round use.
Key Highlights
- Lease in place through January 2027 for the 2‑bedroom, 1‑bath unit
- 2‑bedroom, 1‑bath and 3‑bedroom, 2‑bath duplex configuration
- Central A/C in both units with separate electric and water meters
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
$30,306
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
5.51%
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%
$606,120
$606.1K
Cap Rate 7%
$432,943
$432.9K
Cap Rate 9%
$336,733
$336.7K
Market Conditions
NOI Build-Up for 1,818 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
$45.8K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$43.3K $23.81/SF
− OpEx
−$13.0K −$7.14/SF
NOI
$30.3K $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%
$606,120
Cap Rate 7%
$432,943
Cap Rate 9%
$336,733
Alternative Uses
Best Use
Multifamily LT 5
$432.9K
$378.8K – $505.1K
NOI $30,306 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$390.0K
$341.3K – $455.0K
NOI $27,300 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,519 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
910
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
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Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with two central A/C units, separate electric and water meters, and a newer roof installed in 2022.
Where is this duplex located?
The property is located at 2840 NW 13th Court Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Lease in place through January 2027 for the 2‑bedroom, 1‑bath unit; 2‑bedroom, 1‑bath and 3‑bedroom, 2‑bath duplex configuration; Central A/C in both units with separate electric and water meters
