Large Duplex with Enclosed
For Sale
Contact for pricing
439-441 NW 18th Avenue, Fort Lauderdale, FL 33311
Two-unit duplex offers separate utilities, three bedrooms per side, and a large backyard.
Property Size1,824 SF
Price / SF$282.29
Days on Market438
Property Features for 439-441 NW 18th Avenue
General Information
Standard status
Active
Size
1,824 SF
Property subtype
Multifamily
Occupancy
50%
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1961
Tenancy
Multi
Listing Agency:
Preferred Property Finder Inc.
(954) 600-5844
Listed By:
Sharon Podwol · License #0680486
Source:
Crexi
Added: Jun 6, 2025
Changed: Jul 10
Last Checked: Aug 13 at 3:57PM
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 Preferred Property Finder Inc.
Investment Insights
Based on property information with market context.
This large duplex features two separate residences, with each side offering three bedrooms. The enclosed porches have been incorporated into the living area, increasing usable indoor space. Updates include new water heaters and freshly painted interiors. The property also includes a newly paved driveway and a large backyard suitable for everyday outdoor use.
The duplex is located at 439-441 NW 18th Avenue in Fort Lauderdale, Florida. The home is configured with separate electric and water meters for each unit, supporting independent tenant occupancy and straightforward utility allocation.
From an owner-occupant or investor standpoint, the layout provides flexibility. One unit is occupied by a guaranteed-income tenant, while the other unit is vacant and available for touring, giving prospective buyers the ability to evaluate finishes and condition firsthand. With three-bedroom layouts on both sides, the property may be well-suited to tenants seeking additional room, while also allowing buyers to live in one unit and rent the other.
The duplex is located at 439-441 NW 18th Avenue in Fort Lauderdale, Florida. The home is configured with separate electric and water meters for each unit, supporting independent tenant occupancy and straightforward utility allocation.
From an owner-occupant or investor standpoint, the layout provides flexibility. One unit is occupied by a guaranteed-income tenant, while the other unit is vacant and available for touring, giving prospective buyers the ability to evaluate finishes and condition firsthand. With three-bedroom layouts on both sides, the property may be well-suited to tenants seeking additional room, while also allowing buyers to live in one unit and rent the other.
Key Highlights
- Large duplex with 3 bedrooms on each side and 1,824 SF total enclosed living space from enclosed porches
- Separate electric and water meters for each unit
- New water heaters
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
$30,406
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
5.91%
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%
$608,120
$608.1K
Cap Rate 7%
$434,371
$434.4K
Cap Rate 9%
$337,844
$337.8K
Market Conditions
NOI Build-Up for 1,824 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
$46.0K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$43.4K $23.81/SF
− OpEx
−$13.0K −$7.14/SF
NOI
$30.4K $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%
$608,120
Cap Rate 7%
$434,371
Cap Rate 9%
$337,844
Alternative Uses
Best Use
Multifamily LT 5
$434.4K
$380.1K – $506.8K
NOI $30,406 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$391.3K
$342.4K – $456.5K
NOI $27,390 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,801 @ 7.0% cap · market cap 16.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,052
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 - Two-unit duplex offers separate utilities, three bedrooms per side, and a large backyard.
Where is this duplex located?
The property is located at 439-441 NW 18th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $514,900.
What are key features of this property?
This property features: Large duplex with 3 bedrooms on each side and 1,824 SF total enclosed living space from enclosed porches; Separate electric and water meters for each unit; New water heaters
