Remodeled Duplex with New
New
For Sale
$599,000
337 Phippen Waiters Rd, Dania Beach, FL 33004
Residential Income, Dania Beach, FL
Property Size1,575 SF
Price / SF$380.32
Days on Market1
Property Features for 337 Phippen Waiters Rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
NBHD-MU
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2
Parking
2
Subdivision
VICTORY HEIGHTS
Lot features
< 1/4 Acre
Standard status
Active
APN
514203380140
Size
1,575 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
VICTORY HEIGHTS 21-2 B LOT 14 BLK 1
Tax Annual Amount
8377
Legal Description
VICTORY HEIGHTS 21-2 B LOT 14 BLK 1
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
1960
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Gerardo Henriquez Zambrano · License #3495304
(786) 956-1192
Added: Aug 29
Last Checked: Aug 29 at 1:06PM
MLS# A12079701
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 duplex contains two 2-bedroom, 1-bathroom units within approximately 1,575 square feet of total living area. The property was built in 1960 and has been remodeled with updated flooring, newer AC systems, and a new shingle roof. Block construction, tile flooring, central heating, electric service, and public sewer further define the improvements.
Both units are currently rented at $2,100 per month each, producing $4,200 per month in combined rental income. The property is located near Fort Lauderdale-Hollywood International Airport, beaches, major roads, shopping, dining, and entertainment in Dania Beach.
Both units are currently rented at $2,100 per month each, producing $4,200 per month in combined rental income. The property is located near Fort Lauderdale-Hollywood International Airport, beaches, major roads, shopping, dining, and entertainment in Dania Beach.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- Approximately 1,575 square feet of total living area
- Both units rented at $2,100 per month each
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
$26,255
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
4.38%
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%
$525,100
$525.1K
Cap Rate 7%
$375,071
$375.1K
Cap Rate 9%
$291,722
$291.7K
Market Conditions
NOI Build-Up for 1,575 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
$39.7K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.5K $23.81/SF
− OpEx
−$11.3K −$7.14/SF
NOI
$26.3K $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%
$525,100
Cap Rate 7%
$375,071
Cap Rate 9%
$291,722
Alternative Uses
Best Use
Multifamily LT 5
$375.1K
$328.2K – $437.6K
NOI $26,255 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$346.0K
$302.8K – $403.7K
NOI $24,222 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$799.1K
$699.2K – $932.2K
NOI $55,934 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,762
Businesses Nearby
Explore this area
Business Placement
Demographics for 33004, FL
16,162
Population
9,427
Households
1.7
Avg Household Size
45
Median Age
34%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
2,377
Density / Sq Mi
$50,783
Median Household Income
$41,540
Median Earnings
$1,616
Median Rent
$336,200
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-bedroom units offer a compact multifamily layout with current tenants and central air conditioning.
Where is this duplex located?
The property is located at 337 Phippen Waiters Rd Dania Beach, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units; Approximately 1,575 square feet of total living area; Both units rented at $2,100 per month each
