Duplex with Separate
New
For Sale
$530,000
320 SW 21ST Street, Fort Lauderdale, FL 33315
Two distinct residences include a front home and a rear home with an additional den.
Property Size1,574 SF
Price / SF$359.08
Days on Market6
Property Features for 320 SW 21ST Street
General Information
Standard status
Active
Size
1,574 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
RM-15
Taxes and HOA fees
Annual Taxes
$9,650
Building Details
Building Size
1,574 SF
Year Built
1955
Stories
1
Tenancy
Multi
Listing Agency:
Douglas Elliman
(954) 562-8004
Listed By:
Rosemary S Purswell · License #3083420
(954) 562-8004
Source:
Laerrealty
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 6 at 3:32AM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
This duplex contains 1,476 square feet and was built in 1955. The front residence offers two bedrooms and one bathroom, while the rear residence includes one bedroom, one bathroom, and a den. The property is designated RM-15 and includes separate living areas within the overall two-unit configuration.
Located at 320 SW 21ST Street in Fort Lauderdale, the property is .9 mi from Broward Health, 2.5 mi from the airport, and 2.0 mi from Port Everglades. Downtown and The FORT pickleball courts are 1.9 mi away. Parking accommodates cars and a recreational vehicle.
Located at 320 SW 21ST Street in Fort Lauderdale, the property is .9 mi from Broward Health, 2.5 mi from the airport, and 2.0 mi from Port Everglades. Downtown and The FORT pickleball courts are 1.9 mi away. Parking accommodates cars and a recreational vehicle.
Key Highlights
- Two separate residential units within a 1,476 SF duplex
- Front residence with 2 bedrooms and 1 bathroom
- Rear residence with 1 bedroom, 1 bathroom, and a den
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
$24,605
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
4.64%
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%
$492,100
$492.1K
Cap Rate 7%
$351,500
$351.5K
Cap Rate 9%
$273,389
$273.4K
Market Conditions
NOI Build-Up for 1,476 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
$37.2K $25.20/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$35.1K $23.81/SF
− OpEx
−$10.5K −$7.14/SF
NOI
$24.6K $16.67/SF
Area
Fort Lauderdale, 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%
$492,100
Cap Rate 7%
$351,500
Cap Rate 9%
$273,389
Alternative Uses
Best Use
Multifamily LT 5
$351.5K
$307.6K – $410.1K
NOI $24,605 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$316.6K
$277.1K – $369.4K
NOI $22,164 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$991.9K
$867.9K – $1.16M
NOI $69,431 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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 distinct residences include a front home and a rear home with an additional den.
Where is this duplex located?
The property is located at 320 SW 21ST Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two separate residential units within a 1,476 SF duplex; Front residence with 2 bedrooms and 1 bathroom; Rear residence with 1 bedroom, 1 bathroom, and a den
