Duplex with Rental
New
For Sale
$515,000
369 Phippen Waiters Rd, Dania Beach, FL 33004
Residential Income, Dania Beach, FL
Property Size1,266 SF
Price / SF$406.79
Days on Market1
Property Features for 369 Phippen Waiters Rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
NBHD-MU
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Parking
2
Window features
Tinted Windows
Subdivision
VICTORY HEIGHTS
Lot features
< 1/4 Acre
Standard status
Active
APN
514203380060
Size
1,266 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
VICTORY HEIGHTS 21-2 B LOT 6 BLK 1
Tax Annual Amount
8474
Legal Description
VICTORY HEIGHTS 21-2 B LOT 6 BLK 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
1961
Floors in Building
1
Flooring type
Laminate, 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# A12079696
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 separate 2-bedroom, 1-bathroom units totaling approximately 1,266 square feet. The property has undergone remodeling, with updated flooring, a new shingle roof, and newer AC systems. Construction is block, with laminate and tile flooring, central electric heating, central air conditioning, cable availability, and public sewer service. One unit is currently rented, while the other is available for occupancy or leasing.
The property is located in Dania Beach near Fort Lauderdale-Hollywood International Airport, beaches, major roads, shopping, dining, and entertainment. Built in 1961, the duplex offers an established two-unit configuration with one existing rental arrangement and a second unit ready for use.
The property is located in Dania Beach near Fort Lauderdale-Hollywood International Airport, beaches, major roads, shopping, dining, and entertainment. Built in 1961, the duplex offers an established two-unit configuration with one existing rental arrangement and a second unit ready for use.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- Approximately 1,266 square feet of total living area
- One unit currently rented; second unit available
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
$21,104
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
4.10%
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%
$422,080
$422.1K
Cap Rate 7%
$301,486
$301.5K
Cap Rate 9%
$234,489
$234.5K
Market Conditions
NOI Build-Up for 1,266 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
$31.9K $25.20/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$30.1K $23.81/SF
− OpEx
−$9.0K −$7.14/SF
NOI
$21.1K $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%
$422,080
Cap Rate 7%
$301,486
Cap Rate 9%
$234,489
Alternative Uses
Best Use
Multifamily LT 5
$301.5K
$263.8K – $351.7K
NOI $21,104 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$278.1K
$243.4K – $324.5K
NOI $19,470 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$642.3K
$562.0K – $749.4K
NOI $44,961 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
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-unit property with updated finishes, newer air-conditioning systems, and one occupied unit.
Where is this duplex located?
The property is located at 369 Phippen Waiters Rd Dania Beach, FL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units; Approximately 1,266 square feet of total living area; One unit currently rented; second unit available
