Partially Remodeled
For Sale
$589,000
417 SW 3rd St, Hallandale Beach, FL 33009
MULTI_FAMILY - Hallandale Beach, FL
Property Size1,716 SF
Price / SF$343.24
Days on Market31
Property Features for 417 SW 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RS-6
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 1
Parking
6
Window features
Blinds
Subdivision
HALLANDALE GARDEN PARK
Standard status
Active
APN
514228260190
Size
1,716 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HALLANDALE GARDEN PARK 40-46 B LOT 5 BLK 2
Tax Annual Amount
9709
Legal Description
HALLANDALE GARDEN PARK 40-46 B LOT 5 BLK 2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1971
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Concetta Di Guida · License #3348200
(954) 226-6437
Added: Jul 18
Changed: Aug 14
Last Checked: Aug 17 at 10:06AM
MLS# A11926805
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 partially remodeled duplex features two vacant units, each configured with two bedrooms and one bathroom. Tile flooring is installed throughout, and the property is in good condition. Central heating and central air are available, and the building is constructed of block with a shingle roof. Each unit is served by separate electric and water meters, supporting fully legal operations.
The duplex provides ample parking with 8 front parking spaces. A well-maintained back patio is included on the spacious lot. Cable is available and the property is served by public sewer.
Located at 417 SW 3rd St in Hallandale Beach, the property is within walking distance of the beach, Gulfstream Park, local casinos, parks, and Aventura Mall, with convenient access to public transportation. The offering notes no rental restrictions and a setting with active new development in the immediate vicinity.
The duplex provides ample parking with 8 front parking spaces. A well-maintained back patio is included on the spacious lot. Cable is available and the property is served by public sewer.
Located at 417 SW 3rd St in Hallandale Beach, the property is within walking distance of the beach, Gulfstream Park, local casinos, parks, and Aventura Mall, with convenient access to public transportation. The offering notes no rental restrictions and a setting with active new development in the immediate vicinity.
Key Highlights
- Partially remodeled duplex with two vacant units, each with two bedrooms and one bathroom
- Separate electric and water meters for fully legal setup
- Ceramic tile flooring throughout and central HVAC with central heating and central air
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
$28,605
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
4.86%
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%
$572,100
$572.1K
Cap Rate 7%
$408,643
$408.6K
Cap Rate 9%
$317,833
$317.8K
Market Conditions
NOI Build-Up for 1,716 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
$43.2K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$40.9K $23.81/SF
− OpEx
−$12.3K −$7.14/SF
NOI
$28.6K $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%
$572,100
Cap Rate 7%
$408,643
Cap Rate 9%
$317,833
Alternative Uses
Best Use
Multifamily LT 5
$408.6K
$357.6K – $476.8K
NOI $28,605 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$377.0K
$329.9K – $439.9K
NOI $26,391 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$870.6K
$761.8K – $1.02M
NOI $60,942 @ 7.0% cap · market cap 10.35%
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
1,753
Businesses Nearby
Explore this area
Business Placement
Demographics for 33009, FL
43,301
Population
31,020
Households
1.4
Avg Household Size
47
Median Age
36%
College-Educated
88%
High-School Grad
4.9 sq mi
ZIP Area
8,837
Density / Sq Mi
$48,196
Median Household Income
$33,928
Median Earnings
$1,576
Median Rent
$248,300
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 - Partially remodeled duplex with two vacant, two-bedroom, one-bath units and separate electric and water meters.
Where is this duplex located?
The property is located at 417 SW 3rd St Hallandale Beach, FL.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Partially remodeled duplex with two vacant units, each with two bedrooms and one bathroom; Separate electric and water meters for fully legal setup; Ceramic tile flooring throughout and central HVAC with central heating and central air
