Updated Duplex with Private
For Sale
$790,000
Pending
29 NE 3rd Street, Dania Beach, FL 33004
Two residential units offer distinct layouts, with a private pool serving the rear residence.
Property Size1,890 SF
Days on Market600
Property Features for 29 NE 3rd Street
General Information
Standard status
Pending
Size
1,890 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,031
Amenities
private pool
Building Details
Year Built
1969
Listing Agency:
Cohen Realty Group
(954) 826-7785
Listed By:
Gamila Y Cohen · License #3240294
(954) 826-7785
Source:
Exitrealty
Added: Jan 7, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:06PM
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 Cohen Realty Group
Investment Insights
Based on property information with market context.
This duplex contains two residential units with separate layouts. The front residence includes two bedrooms and one bathroom, while the rear residence offers two bedrooms, two bathrooms, and a private pool. Both units have been updated over the last few years.
The property is located next to US1/Federal Hwy at 29 NE 3rd Street in Dania Beach. The beach is 2.2 miles away, Publix is one mile away, and the site provides access to the airport and major highways. The property is positioned for either short-term rental use or long-term tenancy.
The property is located next to US1/Federal Hwy at 29 NE 3rd Street in Dania Beach. The beach is 2.2 miles away, Publix is one mile away, and the site provides access to the airport and major highways. The property is positioned for either short-term rental use or long-term tenancy.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in the front unit
- Rear unit includes 2 bedrooms, 2 bathrooms, and a private pool
- Both units updated over the last few years
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
$31,506
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
3.99%
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%
$630,120
$630.1K
Cap Rate 7%
$450,086
$450.1K
Cap Rate 9%
$350,067
$350.1K
Market Conditions
NOI Build-Up for 1,890 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
$47.6K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$45.0K $23.81/SF
− OpEx
−$13.5K −$7.14/SF
NOI
$31.5K $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%
$630,120
Cap Rate 7%
$450,086
Cap Rate 9%
$350,067
Alternative Uses
Best Use
Multifamily LT 5
$450.1K
$393.8K – $525.1K
NOI $31,506 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$415.2K
$363.3K – $484.5K
NOI $29,067 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$958.9K
$839.0K – $1.12M
NOI $67,121 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,369
Businesses Nearby
Explore this area
Business Placement
Demographics for 33004, FL
16,162
Population
9,427
Households
1.7
Avg Household Size
45
Median Age
34%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
2,377
Density / Sq Mi
$50,783
Median Household Income
$41,540
Median Earnings
$1,616
Median Rent
$336,200
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 distinct layouts, with a private pool serving the rear residence.
Where is this duplex located?
The property is located at 29 NE 3rd Street Dania Beach, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in the front unit; Rear unit includes 2 bedrooms, 2 bathrooms, and a private pool; Both units updated over the last few years
