Two-Unit Duplex with Private
New
For Sale
$649,000
311-315 NW 57th St, Oakland Park, FL 33309
Residential Income, Oakland Park, FL
Property Size2,380 SF
Price / SF$272.69
Days on Market1
Property Features for 311-315 NW 57th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RD-10
Bedrooms
6
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2
Parking
2
Subdivision
PATTERSON PARK 1ST ADD
Lot features
< 1/4 Acre
Directions
From I-95, take the Commercial Blvd exit and head east. Turn left (north) onto Andrews Ave, then turn left (west) toward NW 57th St. Continue to 311-315 NW 57th St. Property will be located on NW 57th St. Please use GPS for the most direct route.
Standard status
Active
APN
494210070800
Size
2,380 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PATTERSON PARK 1ST ADD 50-36 B LOT 7 LESS W 5 BLK 8
Tax Annual Amount
12084
Legal Description
PATTERSON PARK 1ST ADD 50-36 B LOT 7 LESS W 5 BLK 8
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric, Ceiling Fan(s)
Water source
Public
Amenities
private laundry room
front patio
covered rear patio
fully fenced backyard
NEW A/C system
new appliances
remodeled kitchen cabinets and countertops
fresh interior paint
Building Details
Year built
1967
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Keller Williams Legacy · Keller Williams Realty
(954) 358-6000
Listed By:
Franklin Barnes · License #3273253
(954) 805-9252
Added: Sep 21
Last Checked: Sep 21 at 8:06PM
MLS# A12091514
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 2,380-square-foot duplex contains two separate three-bedroom, one-bath units, totaling six bedrooms and two bathrooms. Each unit includes living space, a private laundry room, two parking spaces, a front patio, a covered rear patio, and a fully fenced backyard. The property was built in 1967 with block construction, tile flooring, a shingle roof, central electric heating, central air conditioning, and public water and sewer.
One unit is currently rented and has a new A/C system and new appliances. The second unit has remodeled kitchen cabinets and countertops along with fresh interior paint. The configuration provides separate living areas and individual outdoor space for each unit.
One unit is currently rented and has a new A/C system and new appliances. The second unit has remodeled kitchen cabinets and countertops along with fresh interior paint. The configuration provides separate living areas and individual outdoor space for each unit.
Key Highlights
- 2,380‑square‑foot duplex with two separate units
- Each unit offers 3 bedrooms and 1 bathroom
- Each unit includes a private laundry room, two parking spaces, and front and covered rear patios
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
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,896
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Separate laundry, patios, parking, and fenced outdoor areas serve each residence.
Where is this duplex located?
The property is located at 311-315 NW 57th St 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: 2,380‑square‑foot duplex with two separate units; Each unit offers 3 bedrooms and 1 bathroom; Each unit includes a private laundry room, two parking spaces, and front and covered rear patios
