Two-Unit Concrete Block
New
For Sale
$199,900
431 N 13TH Street, Fort Pierce, FL 34950
Residential Income, Fort Pierce, FL
Property Size1,118 SF
Lot Size0.17 Acres
Price / SF$178.80
Days on Market6
Property Features for 431 N 13TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Medium Den
Bedrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2
Subdivision
CLYDE KILLER'S ADDITION
Directions
Orange Ave to 13th Street, Just South of Ave D property on west side
Standard status
Active
APN
240950200380007
Size
1,118 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CLYDE KILLER`S A/D BLK 2 LOT 8 (OR 3404-1533; 3620-259)
Tax Annual Amount
1869
Legal Description
CLYDE KILLER`S A/D BLK 2 LOT 8 (OR 3404-1533; 3620-259)
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Number of units
2
Flooring type
Terrazzo
Building materials
Concrete Block - No Stucco
Roof type
Shingle
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Richard Joseph Cranmer · License #3027487
(772) 359-4042
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 4 at 4:06AM
MLS# B26081854
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 1,118-square-foot duplex contains two one-bedroom, one-bathroom residences. Built in 1954, the building has concrete block construction, terrazzo flooring, and a shingle roof. The property is fully occupied, and each unit has its own water and electric meter.
The 0.17-acre property is served by public water and sewer. Zoning is listed as Medium Den.
The 0.17-acre property is served by public water and sewer. Zoning is listed as Medium Den.
Key Highlights
- Two units, each with 1 bedroom and 1 bathroom
- 1,118 square feet on a 0.17‑acre lot
- Concrete block construction; built in 1954
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
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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 one bedroom and one bathroom, 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 units, each with 1 bedroom and 1 bathroom; 1,118 square feet on a 0.17‑acre lot; Concrete block construction; built in 1954
