Duplex Property with Heated
For Sale
$829,000
4521 NE 15th Terrace, Oakland Park, FL 33334
Updated kitchen, patio space, landscaping, and two Tiki huts complement the heated pool and residential layout.
Property Size1,602 SF
Price / SF$517.48
Days on Market281
Property Features for 4521 NE 15th Terrace
General Information
Standard status
Active
Size
1,602 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$13,958
Amenities
heated pool
tiki huts
patio
Building Details
Building Size
1,602 SF
Year Built
1961
Listing Agency:
Beycome of Florida LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(804) 656-5007
Source:
Pamandtoni
Added: Nov 4, 2025
Changed: Aug 8
Last Checked: Aug 11 at 1:10PM
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 Beycome of Florida LLC
Investment Insights
Based on property information with market context.
This duplex property at 4521 NE 15th Terrace comprises 1,602 square feet and was built in 1961. The residence features an updated kitchen with modern appliances and sleek finishes, along with an open-concept living area designed for natural light and flow. Outdoor improvements include a private landscaped backyard, patio area, large heated pool, and two Tiki huts.
The property is located in Oakland Park, FL 33334, near shopping, dining, and parks. Its combination of interior updates and established outdoor features provides a defined residential setting within the Oakland Park market.
The property is located in Oakland Park, FL 33334, near shopping, dining, and parks. Its combination of interior updates and established outdoor features provides a defined residential setting within the Oakland Park market.
Key Highlights
- 1,602‑square‑foot duplex property built in 1961
- Updated kitchen with modern appliances and sleek finishes
- Large heated pool with 2 Tiki huts
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
$26,705
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
3.22%
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%
$534,100
$534.1K
Cap Rate 7%
$381,500
$381.5K
Cap Rate 9%
$296,722
$296.7K
Market Conditions
NOI Build-Up for 1,602 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
$40.4K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$38.2K $23.81/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.7K $16.67/SF
Area
Broward County, 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%
$534,100
Cap Rate 7%
$381,500
Cap Rate 9%
$296,722
Alternative Uses
Best Use
Multifamily LT 5
$381.5K
$333.8K – $445.1K
NOI $26,705 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$352.0K
$308.0K – $410.6K
NOI $24,638 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$812.8K
$711.2K – $948.2K
NOI $56,893 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,996
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
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 - Updated kitchen, patio space, landscaping, and two Tiki huts complement the heated pool and residential layout.
Where is this duplex located?
The property is located at 4521 NE 15th Terrace Oakland Park, FL.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: 1,602‑square‑foot duplex property built in 1961; Updated kitchen with modern appliances and sleek finishes; Large heated pool with 2 Tiki huts
