Duplex with Private
For Sale
Under Contract
$649,000
371 SE 1st Avenue, Pompano Beach, FL 33060
Residential Income, Pompano Beach, FL
Property Size2,351 SF
Lot Size114.00 Acres
Price / SF$276.05
Days on Market161
Property Features for 371 SE 1st Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RD-1
Bedrooms
4
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Patio and Porch features
Patio
Pets allowed
Yes
Exterior features
Awning(s), Garden
Fencing
Fenced, Chain Link
Subdivision
GARDEN ISLES SEC 2
Lot features
Interior Lot, Sidewalks
Elementary school
Cypress
Middle school
Pompano Beach
High school
Blanche Ely
Standard status
Active Under Contract
APN
494201250100
Size
2,351 SF
Lot size
114.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GARDEN ISLES SEC 2 49-6 B LOT 8 TOGET WITH E 8 OF VAC 16 FT ALLEY PER ORD NO 67-44 LYING WEST OF LOT 8 BLK 5
Tax Annual Amount
9951
Legal Description
GARDEN ISLES SEC 2 49-6 B LOT 8 TOGET WITH E 8 OF VAC 16 FT ALLEY PER ORD NO 67-44 LYING WEST OF LOT 8 BLK 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
patio
storage closets
laundry room
yard
privacy fence
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Flooring type
Laminate, Wood, Tile, Concrete
Building materials
Brick, CBS, Stucco
Roof type
Tile
Listing Agency:
LoKation
(954) 545-5583
Listed By:
S Abigail Raymond-Dow · License #0687876
(954) 205-2229
Added: Apr 1
Changed: Sep 8
Last Checked: Sep 8 at 7:06PM
MLS# B26009891
Copyright © 2026 BeachesMLS. 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 2,351 square feet across two residences. One unit is configured as a 2/2 with potential for a third bedroom and has a long-term tenant who wants to remain. The other is a vacant 2/1 remodeled in 2026. Each residence includes a private patio, separate laundry room, and additional storage, while the units share a fenced yard and two-car carport. Construction includes brick, CBS, and stucco elements, with tile and concrete roofing materials. Central air conditioning and water heaters were replaced in both units within the last year.
The property is located at 371 SE 1st Avenue in Pompano Beach’s Garden Isles area. Sidewalk access connects the property with nearby Publix, restaurants, a park, and pickleball courts. The beach is approximately 2 miles away. Public water and sewer serve the property, which carries RD-1 zoning.
The property is located at 371 SE 1st Avenue in Pompano Beach’s Garden Isles area. Sidewalk access connects the property with nearby Publix, restaurants, a park, and pickleball courts. The beach is approximately 2 miles away. Public water and sewer serve the property, which carries RD-1 zoning.
Key Highlights
- 2,351 square feet arranged as a duplex
- One 2/2 unit with possible third bedroom and long‑term tenant
- Vacant 2/1 unit remodeled in 2026
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
$39,315
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
6.06%
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%
$786,300
$786.3K
Cap Rate 7%
$561,643
$561.6K
Cap Rate 9%
$436,833
$436.8K
Market Conditions
NOI Build-Up for 2,351 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
$59.2K $25.20/SF
− Vacancy
−$3.1K −$1.31/SF
EGI
$56.2K $23.89/SF
− OpEx
−$16.8K −$7.17/SF
NOI
$39.3K $16.72/SF
Area
Pompano Beach, FL
Vacancy
5.20%
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%
$786,300
Cap Rate 7%
$561,643
Cap Rate 9%
$436,833
Alternative Uses
Best Use
Multifamily LT 5
$561.6K
$491.4K – $655.3K
NOI $39,315 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$515.9K
$451.4K – $601.9K
NOI $36,115 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$916.9K
$802.3K – $1.07M
NOI $64,182 @ 7.0% cap · market cap 9.89%
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
1,789
Businesses Nearby
Explore this area
Business Placement
Demographics for 33060, FL
35,793
Population
15,653
Households
2.3
Avg Household Size
39
Median Age
25%
College-Educated
82%
High-School Grad
7.0 sq mi
ZIP Area
5,113
Density / Sq Mi
$59,757
Median Household Income
$34,275
Median Earnings
$1,406
Median Rent
$354,100
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 separate residences offer individual laundry rooms, patios, storage, and shared access to a two-car carport.
Where is this duplex located?
The property is located at 371 SE 1st Avenue Pompano Beach, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 2,351 square feet arranged as a duplex; One 2/2 unit with possible third bedroom and long‑term tenant; Vacant 2/1 unit remodeled in 2026
