Two-Unit Concrete Block
New
For Sale
$199,900
431 N 13TH Street, Fort Pierce, FL 34950
Each residence has a one-bedroom, one-bath layout, with separate water and electric meters.
Property Size1,118 SF
Price / SF$178.80
Days on Market6
Property Features for 431 N 13TH Street
General Information
Standard status
Active
Size
1,118 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
Acres: 0.17, Square Feet: 7500, Dimensions: 60x150, Features: Less Than 1/4 Acre Lot, Less Than 1 Acre
Roof: Comp Shingle Roof, Shingle
Sewer: At Site, Public Sewer, Other, Public Sanitation, Sewer
Parcel Number: 240950200380007, Tax Annual Amount: $1,868, Tax Legal Description: CLYDE KILLER`S A/D BLK 2 LOT 8 (OR 3404-1533; 3620-259), Tax Year: 2025
Flooring: Terrazzo
Cooling: None
Heating: None
Number Of Units Total: 2, Standard Status: Active
Features: Single Hung Metal
Living Area: 1118, Architectural Style: Twin Home, Half Duplex, One Story, Twin Homes, Construction Materials: Concrete Block With Brick, Slab Construction, Levels: 1, Stories: 1, Year Built: 1954, Year Built Details: Resale, Building Area Total: 1195, Structure Type: Duplex
County Or Parish: St Lucie County, MLS Area Major: Clyde Killer's Addition, Subdivision Name: CLYDE KILLER'S ADDITION
Leasable Area Units: Square Feet, Property Attached
Units In Community: 2
Electric On Property YN: t, Electric: 100 Amp Service, Utilities: Electricity Connected, Sewer Connected, Water Connected, Electricity Available, Sewer Available, Water Available
Tenant Pays: Sewer, Water
Water Source: Public
Road Frontage Type: City Street, City/County Maintained, City, Road Responsibility: Public Maintained Road
Features: None
Building Details
Year Built
1954
Buildings
1
Construction
Concrete Block
Tenancy
Multi
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Richard Joseph Cranmer · License #3027487
(772) 359-4042
Source:
Riserealty
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 2 at 11:17PM
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 LoKation
Investment Insights
Based on property information with market context.
This duplex contains two residences, each configured with one bedroom and one bathroom. The 1,118-square-foot building is constructed of concrete block and is described as well maintained and fully occupied. City water and sewer serve the property, with separate water and electric meters for each unit.
The property is at 431 N 13th Street in Fort Pierce, Florida.
The property is at 431 N 13th Street in Fort Pierce, Florida.
Key Highlights
- Two residences, each with 1 bedroom and 1 bathroom
- 1,118‑square‑foot concrete block building
- Separate water and electric meters for each unit
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
$16,418
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
8.21%
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%
$328,360
$328.4K
Cap Rate 7%
$234,543
$234.5K
Cap Rate 9%
$182,422
$182.4K
Market Conditions
NOI Build-Up for 1,118 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
$24.8K $22.20/SF
− Vacancy
−$1.4K −$1.22/SF
EGI
$23.5K $20.98/SF
− OpEx
−$7.0K −$6.29/SF
NOI
$16.4K $14.69/SF
Area
St. Lucie 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%
$328,360
Cap Rate 7%
$234,543
Cap Rate 9%
$182,422
Alternative Uses
Best Use
Multifamily LT 5
$234.5K
$205.2K – $273.6K
NOI $16,418 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$217.8K
$190.5K – $254.1K
NOI $15,243 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$281.2K
$246.0K – $328.0K
NOI $19,681 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
853
Businesses Nearby
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a one-bedroom, one-bath layout, with separate water and electric meters.
Where is this duplex located?
The property is located at 431 N 13TH Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two residences, each with 1 bedroom and 1 bathroom; 1,118‑square‑foot concrete block building; Separate water and electric meters for each unit
