Updated Two-Unit
New
For Sale
$415,000
429 NW 14th Avenue, Fort Lauderdale, FL 33311
Both residences are updated two-bedroom, one-bath units and are currently occupied.
Property Size1,134 SF
Price / SF$354.70
Days on Market5
Property Features for 429 NW 14th Avenue
General Information
Standard status
Active
Size
1,134 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
RS-8
Occupancy
100%
Net Operating Income
$27,360
Financials
Asking Price
$415,000
Cap Rate
6.59%
Gross Income
$39,600
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,240
Building Details
Building Size
1,134 SF
Year Built
1962
Buildings
1
Stories
1
Listing Agency:
Trustpoint Realty, LLC.
(305) 200-0348
Listed By:
Joseph Suarez · License #3366522
(305) 200-0348
Source:
Laerrealty
Added: Aug 20
Changed: Aug 23
Last Checked: Aug 24 at 3:16AM
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 Trustpoint Realty, LLC.
Investment Insights
Based on property information with market context.
This 1,170-square-foot duplex contains two updated residences, each configured with two bedrooms and one bathroom. Built in 1962, the property is fully occupied and provides an established in-place rental operation. The current cap rate is 6.59%, while the stated projection reaches 7.46% at market rents.
Located at 429 NW 14th Avenue in Fort Lauderdale’s 33311 submarket, the property carries RS-8 zoning. Its two-unit configuration offers a straightforward multifamily format with separate residential spaces and an existing tenant base.
Located at 429 NW 14th Avenue in Fort Lauderdale’s 33311 submarket, the property carries RS-8 zoning. Its two-unit configuration offers a straightforward multifamily format with separate residential spaces and an existing tenant base.
Key Highlights
- Two‑unit duplex with 1,170 SF of property size
- Each unit offers 2BR/1BA and updated interiors
- Both units are currently occupied
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
$19,504
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
4.70%
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%
$390,080
$390.1K
Cap Rate 7%
$278,629
$278.6K
Cap Rate 9%
$216,711
$216.7K
Market Conditions
NOI Build-Up for 1,170 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
$29.5K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$27.9K $23.81/SF
− OpEx
−$8.4K −$7.14/SF
NOI
$19.5K $16.67/SF
Area
Fort Lauderdale, 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%
$390,080
Cap Rate 7%
$278,629
Cap Rate 9%
$216,711
Alternative Uses
Best Use
Multifamily LT 5
$278.6K
$243.8K – $325.1K
NOI $19,504 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$251.0K
$219.6K – $292.8K
NOI $17,569 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$786.2K
$688.0K – $917.3K
NOI $55,037 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,695
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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 - Both residences are updated two-bedroom, one-bath units and are currently occupied.
Where is this duplex located?
The property is located at 429 NW 14th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,170 SF of property size; Each unit offers 2BR/1BA and updated interiors; Both units are currently occupied
