Tenant-Occupied Duplex with Two 2BR
For Sale
$735,000
3431 NE 13th Avenue, Oakland Park, FL 33334
Tenant-occupied duplex featuring two 2BR/1BA units with separate electric and water meters for simplified management.
Property Size1,478 SF
Price / SF$497.29
Days on Market157
Property Features for 3431 NE 13th Avenue
General Information
Standard status
Active
Size
1,478 SF
Total Parking Spaces
6
Property subtype
Duplex
Occupancy
100%
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$10,536
Building Details
Building Size
1,478 SF
Year Built
1956
Tenancy
Multi
Listing Agency:
EXP Realty
(443) 340-2200
Listed By:
Kacie Marie Anderson · License #3551541
(443) 340-2200
Source:
Pamandtoni
Added: Mar 9
Changed: Aug 8
Last Checked: Aug 11 at 12:19PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two tenant-occupied 2BR/1BA units. Unit A at 3431 South offers approximately 800 SF and includes updated appliances that are about 2 years old. Unit B at 3441 North is approximately 700 SF and also offers 2BR/1BA, with a fully fenced backyard.
The property includes 6 parking spaces on pavers and separate electric and water meters, helping keep utilities and property management straightforward. Built in 1956, the home is positioned in East Oakland Park, near Fort Lauderdale beaches, shopping, dining, and major highways.
With two separate, tenant-occupied units and dedicated metering, the layout is designed for day-to-day rental management and consistent income generation from both sides.
The property includes 6 parking spaces on pavers and separate electric and water meters, helping keep utilities and property management straightforward. Built in 1956, the home is positioned in East Oakland Park, near Fort Lauderdale beaches, shopping, dining, and major highways.
With two separate, tenant-occupied units and dedicated metering, the layout is designed for day-to-day rental management and consistent income generation from both sides.
Key Highlights
- Two tenant‑occupied 2BR/1BA units
- Unit A offers approx. 800 SF with appliances updated about 2 years ago
- Unit B offers approx. 700 SF and includes a fully fenced backyard
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
$24,638
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
3.35%
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%
$492,760
$492.8K
Cap Rate 7%
$351,971
$352.0K
Cap Rate 9%
$273,756
$273.8K
Market Conditions
NOI Build-Up for 1,478 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
$35.2K $23.81/SF
− OpEx
−$10.6K −$7.14/SF
NOI
$24.6K $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%
$492,760
Cap Rate 7%
$351,971
Cap Rate 9%
$273,756
Alternative Uses
Best Use
Multifamily LT 5
$352.0K
$308.0K – $410.6K
NOI $24,638 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$324.7K
$284.1K – $378.9K
NOI $22,731 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$749.9K
$656.1K – $874.8K
NOI $52,490 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,466
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
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 - Tenant-occupied duplex featuring two 2BR/1BA units with separate electric and water meters for simplified management.
Where is this duplex located?
The property is located at 3431 NE 13th Avenue Oakland Park, FL.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Two tenant‑occupied 2BR/1BA units; Unit A offers approx. 800 SF with appliances updated about 2 years ago; Unit B offers approx. 700 SF and includes a fully fenced backyard
