Duplex With Fenced
New
For Sale
$649,000
311-315 NW 57th Street, Oakland Park, FL 33309
Two separately configured residences offer private outdoor areas, laundry rooms, patios, and dedicated parking.
Property Size2,380 SF
Price / SF$272.69
Days on Market6
Property Features for 311-315 NW 57th Street
General Information
Standard status
Active
Size
2,380 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
RD-10
Taxes and HOA fees
Annual Taxes
$12,084
Building Details
Building Size
2,380 SF
Year Built
1967
Stories
1
Listing Agency:
Keller Williams Legacy
Listed By:
Franklin Barnes · License #3273253
(954) 805-9252
Source:
Laerrealty
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 26 at 4:27AM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
Located at 311-315 NW 57th Street in Oakland Park, this duplex contains 2,380 square feet across two separate residences. Each unit offers three bedrooms, one bathroom, a private laundry room, two parking spaces, a front patio, a covered rear patio, and an individually fenced backyard. The property was built in 1967 and carries RD-10 zoning.
Unit 315 is currently rented and includes a new A/C system and new appliances. Unit 311 has updated kitchen cabinets and countertops along with fresh interior paint. The two-unit layout provides separate living arrangements, with one residence occupied and the other available for use or leasing based on the owner's plans.
Unit 315 is currently rented and includes a new A/C system and new appliances. Unit 311 has updated kitchen cabinets and countertops along with fresh interior paint. The two-unit layout provides separate living arrangements, with one residence occupied and the other available for use or leasing based on the owner's plans.
Key Highlights
- Two‑unit duplex with 2,380 square feet
- Each unit has 3 bedrooms and 1 bathroom
- Private laundry room, two parking spaces, and front and covered rear patios per unit
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
$39,674
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
6.11%
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%
$793,480
$793.5K
Cap Rate 7%
$566,771
$566.8K
Cap Rate 9%
$440,822
$440.8K
Market Conditions
NOI Build-Up for 2,380 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
$60.0K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$56.7K $23.81/SF
− OpEx
−$17.0K −$7.14/SF
NOI
$39.7K $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%
$793,480
Cap Rate 7%
$566,771
Cap Rate 9%
$440,822
Alternative Uses
Best Use
Multifamily LT 5
$566.8K
$495.9K – $661.2K
NOI $39,674 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$522.9K
$457.5K – $610.1K
NOI $36,603 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,523 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
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 separately configured residences offer private outdoor areas, laundry rooms, patios, and dedicated parking.
Where is this duplex located?
The property is located at 311-315 NW 57th Street Oakland Park, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,380 square feet; Each unit has 3 bedrooms and 1 bathroom; Private laundry room, two parking spaces, and front and covered rear patios per unit
