Two-Unit Duplex with New
For Sale
$650,000
308 SE 4th Ave, Hallandale Beach, FL 33009
Residential Income, Hallandale Beach, FL
Property Size1,399 SF
Price / SF$464.62
Days on Market38
Property Features for 308 SE 4th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
CENTRAL
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking
2
Subdivision
HALLANDALE PARK NO 3
Lot features
< 1/4 Acre
Standard status
Active
APN
514227160100
Size
1,399 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HALLANDALE PARK NO 3 6-7 B LOT 15,16 BLK 1
Tax Annual Amount
10782
Legal Description
HALLANDALE PARK NO 3 6-7 B LOT 15,16 BLK 1
Amenities
washer/dryer hookups
Building Details
Year built
1956
Floors in Building
1
Listing Agency:
The Keyes Company
(305) 931-8920
Listed By:
David Heinrich · License #3187652
(305) 926-3106
Added: Jul 18
Changed: Aug 20
Last Checked: Aug 24 at 8:06PM
MLS# A11977316
Copyright © 2026 Miami REALTORS®. 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 1,399-square-foot duplex, built in 1956, contains two separate apartments. The unit mix includes one one-bedroom, one-bath apartment and one two-bedroom, one-bath apartment, with both units currently rented. The property is described as well maintained, and a new roof was installed in 2025. Washer and dryer hookups are available.
The property is located at 308 SE 4th Ave in Hallandale Beach, within walking distance of Gulfstream Park. The beach is approximately 10 minutes away, while Aventura Mall is approximately 7 minutes away. Shopping, dining, entertainment, and major area attractions are also identified in the surrounding context.
The property is located at 308 SE 4th Ave in Hallandale Beach, within walking distance of Gulfstream Park. The beach is approximately 10 minutes away, while Aventura Mall is approximately 7 minutes away. Shopping, dining, entertainment, and major area attractions are also identified in the surrounding context.
Key Highlights
- Two separate apartments with a one‑bedroom and a two‑bedroom unit mix
- 1,399 square feet on a 1956‑built duplex
- New roof installed in 2025, as reported by the owner
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
$23,321
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
3.59%
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%
$466,420
$466.4K
Cap Rate 7%
$333,157
$333.2K
Cap Rate 9%
$259,122
$259.1K
Market Conditions
NOI Build-Up for 1,399 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
$35.3K $25.20/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$33.3K $23.81/SF
− OpEx
−$10.0K −$7.14/SF
NOI
$23.3K $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%
$466,420
Cap Rate 7%
$333,157
Cap Rate 9%
$259,122
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.5K – $388.7K
NOI $23,321 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$307.4K
$269.0K – $358.6K
NOI $21,516 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$709.8K
$621.1K – $828.1K
NOI $49,684 @ 7.0% cap · market cap 7.64%
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
2,885
Businesses Nearby
Explore this area
Business Placement
Demographics for 33009, FL
43,301
Population
31,020
Households
1.4
Avg Household Size
47
Median Age
36%
College-Educated
88%
High-School Grad
4.9 sq mi
ZIP Area
8,837
Density / Sq Mi
$48,196
Median Household Income
$33,928
Median Earnings
$1,576
Median Rent
$248,300
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 - Well-maintained duplex with two separate apartments and established occupancy in Hallandale Beach.
Where is this duplex located?
The property is located at 308 SE 4th Ave Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two separate apartments with a one‑bedroom and a two‑bedroom unit mix; 1,399 square feet on a 1956‑built duplex; New roof installed in 2025, as reported by the owner
