Half-Duplex Multifamily
For Sale
$289,500
4503 SE Ontario Dr, Stuart, FL 34997
Residential Income, Stuart, FL
Property Size1,131 SF
Price / SF$255.97
Days on Market41
Property Features for 4503 SE Ontario Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-2A
Bedrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2
Parking
6
Window features
Blinds
Subdivision
FISHERMANS COVE
Lot features
< 1/4 Acre
Standard status
Active
APN
403841003000009115
Size
1,131 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FISHERMANS COVE SEC 2 PHASE I LOT 91 W 1/2
Tax Annual Amount
3719
Legal Description
FISHERMANS COVE SEC 2 PHASE I LOT 91 W 1/2
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Flooring type
Tile - Ceramic, Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
The Keyes Company
(954) 475-9813
Listed By:
Kelvin Ching · License #3298166
(954) 249-8129
Added: Jul 17
Changed: Aug 22
Last Checked: Aug 26 at 7:06AM
MLS# A12050578
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 1,131-square-foot half duplex was built in 1980 with concrete block construction and a shingle roof replaced in 2024. The home includes three bedrooms and one and a half bathrooms, with ceramic tile flooring, neutral interior finishes, stainless steel appliances, and a full-size washer and dryer. Central heating and air conditioning provide year-round climate control.
The property is in Stuart’s Fisherman’s Cove community, in a No HOA neighborhood just off Kanner Highway. Public water and public sewer serve the residence, while I-95, Costco, Publix, Walgreens, shopping, dining, and other daily conveniences are nearby. The adjoining half duplex at 96 SE Norfolk Blvd. is also available for purchase, creating an opportunity to acquire both units.
The property is in Stuart’s Fisherman’s Cove community, in a No HOA neighborhood just off Kanner Highway. Public water and public sewer serve the residence, while I-95, Costco, Publix, Walgreens, shopping, dining, and other daily conveniences are nearby. The adjoining half duplex at 96 SE Norfolk Blvd. is also available for purchase, creating an opportunity to acquire both units.
Key Highlights
- 3‑bedroom, 1.5‑bath half duplex measuring 1,131 square feet
- Concrete block construction with a shingle roof installed in 2024
- Ceramic tile flooring throughout with stainless steel appliances
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
$13,804
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
4.77%
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%
$276,080
$276.1K
Cap Rate 7%
$197,200
$197.2K
Cap Rate 9%
$153,378
$153.4K
Market Conditions
NOI Build-Up for 1,131 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
$26.9K $23.76/SF
− Vacancy
−$1.8K −$1.57/SF
EGI
$25.1K $22.19/SF
− OpEx
−$11.3K −$9.99/SF
NOI
$13.8K $12.21/SF
Area
Martin County, FL
Vacancy
6.60%
Lease Rate
$23.76 /SF/Yr
Expense Ratio
45.00%
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%
$276,080
Cap Rate 7%
$197,200
Cap Rate 9%
$153,378
Alternative Uses
Best Use
Apartment 5plus
$197.2K
$172.6K – $230.1K
NOI $13,804 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$297.1K
$260.0K – $346.7K
NOI $20,799 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
Business Placement
Demographics for 34997, FL
44,000
Population
22,192
Households
2
Avg Household Size
52
Median Age
30%
College-Educated
92%
High-School Grad
90.7 sq mi
ZIP Area
485
Density / Sq Mi
$75,705
Median Household Income
$37,381
Median Earnings
$1,520
Median Rent
$335,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Concrete-block residence with ceramic tile flooring, central HVAC, public utilities, and a 2024 roof replacement.
Where is this multifamily property located?
The property is located at 4503 SE Ontario Dr Stuart, FL.
What is the asking price?
The asking price for this property is $289,500.
What are key features of this property?
This property features: 3‑bedroom, 1.5‑bath half duplex measuring 1,131 square feet; Concrete block construction with a shingle roof installed in 2024; Ceramic tile flooring throughout with stainless steel appliances
