Waterfront Duplex with Canal
For Sale
$975,000
3291-3293 NE 18th Terrace # 2 Unit 1-2, Oakland Park, FL 33306
Two renovated residences feature central A/C, impact-rated windows and doors, and peaceful canal-facing outdoor space.
Property Size2,402 SF
Days on Market112
Property Features for 3291-3293 NE 18th Terrace # 2 Unit 1-2
General Information
Standard status
Active
Size
2,402 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,665
Amenities
central A/C
impact-rated windows and doors
Building Details
Building Size
2,402 SF
Year Built
1960
Listing Agency:
BrokerNation Real Estate
Listed By:
Andrea Scaramucci · License #3440847
Source:
Relinkre
Added: Apr 23
Changed: Aug 5
Last Checked: Aug 12 at 3:34PM
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 BrokerNation Real Estate
Investment Insights
Based on property information with market context.
Built in 1960, this waterfront duplex contains two separate residences, each configured with 2 bedrooms and 2 bathrooms. Both units were renovated by the owner, including the driveway, and offer spacious interiors with natural light and practical layouts. Central A/C serves each residence, while all windows and doors are impact-rated. The roof is 6 years old.
Canal views and an outdoor setting add to the property’s waterfront character. The duplex is minutes from the beach, shopping, and dining, providing access to everyday amenities and coastal recreation. The two-unit configuration supports separate residential occupancy within one property, with each residence offering the same 2-bedroom, 2-bathroom layout.
Canal views and an outdoor setting add to the property’s waterfront character. The duplex is minutes from the beach, shopping, and dining, providing access to everyday amenities and coastal recreation. The two-unit configuration supports separate residential occupancy within one property, with each residence offering the same 2-bedroom, 2-bathroom layout.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 bathrooms in each residence
- Both units renovated by the owner, including the driveway
- Waterfront setting with canal views and outdoor space
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
$40,041
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
4.11%
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%
$800,820
$800.8K
Cap Rate 7%
$572,014
$572.0K
Cap Rate 9%
$444,900
$444.9K
Market Conditions
NOI Build-Up for 2,402 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
$60.5K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$57.2K $23.81/SF
− OpEx
−$17.2K −$7.14/SF
NOI
$40.0K $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%
$800,820
Cap Rate 7%
$572,014
Cap Rate 9%
$444,900
Alternative Uses
Best Use
Multifamily LT 5
$572.0K
$500.5K – $667.4K
NOI $40,041 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$527.7K
$461.8K – $615.7K
NOI $36,941 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,305 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,047
Businesses Nearby
Explore this area
Business Placement
Demographics for 33306, FL
3,526
Population
2,109
Households
1.7
Avg Household Size
53
Median Age
44%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
3,918
Density / Sq Mi
$82,375
Median Household Income
$77,118
Median Earnings
$1,369
Median Rent
$469,800
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 renovated residences feature central A/C, impact-rated windows and doors, and peaceful canal-facing outdoor space.
Where is this duplex located?
The property is located at 3291-3293 NE 18th Terrace # 2 Unit 1-2 Oakland Park, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 bathrooms in each residence; Both units renovated by the owner, including the driveway; Waterfront setting with canal views and outdoor space
