Updated Duplex with Two Rental
For Sale
Contact for pricing
2840 NW 13th Court # 2 #1-2, Fort Lauderdale, FL 33311
Updated two-unit duplex in Fort Lauderdale with central A/C, renovated interiors, and separate utilities.
Property Size1,818 SF
Price / SF$302.48
Days on Market88
Property Features for 2840 NW 13th Court # 2 #1-2
General Information
Standard status
Active
Size
1,818 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
RD-10
Additional Details
Multifamily Units
2
Building Details
Year Built
1983
Units
2
Tenancy
Multi
Listing Agency:
VantaSure Realty LLC
(954) 734-4338
Listed By:
Stacy Koury · License #3321605
Source:
Crexi
Added: May 23
Changed: Aug 8
Last Checked: Aug 16 at 12:54AM
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 VantaSure Realty LLC
Investment Insights
Based on property information with market context.
This updated duplex offers two spacious units with tastefully renovated interiors. The first unit is a 2-bedroom, 1-bath home with a lease in place through January 2027. The second unit is a 3-bedroom, 2-bath layout designed to support either continued rental use or owner occupancy. Updates across both units include new flooring, modern kitchen cabinets and countertops, and renovated bathrooms. Additional improvements include central A/C for both units and separate electric and water meters to help simplify utility management. The property also has a newer roof installed in 2022.
The duplex is located at 2840 NW 13th Court in Fort Lauderdale, Florida. Four parking spaces are available for residents or tenants.
For investors, the existing lease provides near-term stability while still allowing flexibility with the second unit. For owner-occupants, the second unit can support a traditional rental strategy or help offset housing costs, with separate metering and central A/C in place for comfortable, straightforward day-to-day operation.
The duplex is located at 2840 NW 13th Court in Fort Lauderdale, Florida. Four parking spaces are available for residents or tenants.
For investors, the existing lease provides near-term stability while still allowing flexibility with the second unit. For owner-occupants, the second unit can support a traditional rental strategy or help offset housing costs, with separate metering and central A/C in place for comfortable, straightforward day-to-day operation.
Key Highlights
- Updated duplex built in 1983 with two spacious units: 2BD/1BA and 3BD/2BA
- 2‑bedroom unit has a lease in place through January 2027 for immediate rental income
- Both units updated with new flooring, modern kitchen cabinets and countertops, and renovated bathrooms
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
Multi-tenant
Tenancy
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 two-unit duplex in Fort Lauderdale with central A/C, renovated interiors, and separate utilities.
Where is this duplex located?
The property is located at 2840 NW 13th Court # 2 #1-2 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: Updated duplex built in 1983 with two spacious units: 2BD/1BA and 3BD/2BA; 2‑bedroom unit has a lease in place through January 2027 for immediate rental income; Both units updated with new flooring, modern kitchen cabinets and countertops, and renovated bathrooms
