Duplex with New
For Sale
$650,000
308 Se 4th St, Hallandale, FL 33009
Two separate apartments offer one-bedroom and two-bedroom layouts for residential rental use.
Property Size1,399 SF
Price / SF$464.62
Days on Market194
Property Features for 308 Se 4th St
General Information
Standard status
Active
Size
1,399 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$650,000
Taxes and HOA fees
Annual Taxes
$10,782
Building Details
Tenancy
Multi
Listing Agency:
The Keyes Company
(305) 931-8920
Listed By:
David Heinrich · License #3187652
(305) 926-3106
Source:
Exprealty
Added: Mar 5
Changed: Sep 14
Last Checked: Sep 14 at 10:59AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This duplex contains two separate apartments with a one-bedroom, one-bath layout and a two-bedroom, one-bath layout. The property has a roof installed in 2025, and washer and dryer hookups are available. The configuration supports separate occupancy within one residential income property while preserving distinct living spaces for each unit.
Located at 308 SE 4th St in Hallandale, the property is described as a 10-minute drive from the beach. Gulfstream Park is within walking distance, and Aventura Mall is approximately seven minutes away. These nearby destinations provide access to recreation, shopping, dining, and entertainment in the surrounding area.
Located at 308 SE 4th St in Hallandale, the property is described as a 10-minute drive from the beach. Gulfstream Park is within walking distance, and Aventura Mall is approximately seven minutes away. These nearby destinations provide access to recreation, shopping, dining, and entertainment in the surrounding area.
Key Highlights
- Two‑unit duplex with one 1‑bedroom/1‑bath apartment and one 2‑bedroom/1‑bath apartment
- Roof installed in 2025
- Washer and dryer hookups available
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
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,795
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 - Two separate apartments offer one-bedroom and two-bedroom layouts for residential rental use.
Where is this duplex located?
The property is located at 308 Se 4th St Hallandale, 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‑unit duplex with one 1‑bedroom/1‑bath apartment and one 2‑bedroom/1‑bath apartment; Roof installed in 2025; Washer and dryer hookups available
