Updated Duplex with Separate Living
For Sale
$600,000
3961 SE DIXIE ROSS Street, Stuart, FL 34997
Two residences offer flexible occupancy, fenced yards, and recent updates including impact openings and water heaters.
Property Size2,370 SF
Days on Market12
Property Features for 3961 SE DIXIE ROSS Street
General Information
Standard status
Active
Size
2,370 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA + Den, 1 x 2BR/1BA + Den
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,097
Amenities
fenced yards
Building Details
Building Size
2,370 SF
Year Built
1974
Listing Agency:
Keller Williams Realty/P B
(561) 707-8845
Listed By:
Tracey Lavoll · License #3054897
(561) 707-8845
Source:
Meyerlucas
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 29 at 3:37PM
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 Keller Williams Realty/P B
Investment Insights
Based on property information with market context.
This 2,370-square-foot duplex, built in 1974, contains two separate residences with fenced yards. The larger unit provides 3 bedrooms, 2 baths, a den, utility room with washer and dryer, and high-hat lighting. Its third bedroom and den were created from a formerly covered patio. The second residence includes 2 bedrooms, 1 bath, and a den converted from covered patio space, along with a laundry closet and a fully remodeled interior with fresh paint and updated finishes. Its den provides additional flexible living area.
Recent property improvements include a metal roof installed in 2019, impact windows and doors installed in 2026, and water heaters updated in 2026. The smaller unit received a new A/C system in February 2025, while the interior A/C unit in the larger residence is older. The 3-bedroom unit is tenant-occupied under a lease ending December 31, 2026. Zoning is X. The configuration supports separate residential use, owner occupancy of one residence, leasing both units, or multigenerational living, as stated in the property information.
Recent property improvements include a metal roof installed in 2019, impact windows and doors installed in 2026, and water heaters updated in 2026. The smaller unit received a new A/C system in February 2025, while the interior A/C unit in the larger residence is older. The 3-bedroom unit is tenant-occupied under a lease ending December 31, 2026. Zoning is X. The configuration supports separate residential use, owner occupancy of one residence, leasing both units, or multigenerational living, as stated in the property information.
Key Highlights
- 2,370‑square‑foot duplex built in 1974
- Two residences with separate living spaces and fenced yards
- 3‑bedroom, 2‑bath unit includes a den, utility room, and washer/dryer
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
$34,804
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
5.80%
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%
$696,080
$696.1K
Cap Rate 7%
$497,200
$497.2K
Cap Rate 9%
$386,711
$386.7K
Market Conditions
NOI Build-Up for 2,370 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
$52.6K $22.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$49.7K $20.98/SF
− OpEx
−$14.9K −$6.29/SF
NOI
$34.8K $14.69/SF
Area
Martin County, FL
Vacancy
5.50%
Lease Rate
$22.20 /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%
$696,080
Cap Rate 7%
$497,200
Cap Rate 9%
$386,711
Alternative Uses
Best Use
Multifamily LT 5
$497.2K
$435.1K – $580.1K
NOI $34,804 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$413.2K
$361.6K – $482.1K
NOI $28,927 @ 7.0% cap · market cap 4.82%
Theoretical Best
Retail
$622.6K
$544.8K – $726.4K
NOI $43,584 @ 7.0% cap · market cap 7.26%
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
354
Businesses Nearby
Explore this area
Business Placement
Demographics for 34997, FL
44,000
Population
22,192
Households
2
Avg Household Size
52
Median Age
30%
College-Educated
92%
High-School Grad
90.7 sq mi
ZIP Area
485
Density / Sq Mi
$75,705
Median Household Income
$37,381
Median Earnings
$1,520
Median Rent
$335,200
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 residences offer flexible occupancy, fenced yards, and recent updates including impact openings and water heaters.
Where is this duplex located?
The property is located at 3961 SE DIXIE ROSS Street Stuart, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2,370‑square‑foot duplex built in 1974; Two residences with separate living spaces and fenced yards; 3‑bedroom, 2‑bath unit includes a den, utility room, and washer/dryer
