Two-Unit Residential Income
For Sale
$1,020,000
5 Ne 16th Ct, Fort Lauderdale, FL 33305
Duplex with two 5-bedroom, 2-bath units that are currently rented.
Property Size2,829 SF
Price / SF$360.55
Days on Market201
Property Features for 5 Ne 16th Ct
General Information
Standard status
Active
Size
2,829 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,570
Listing Agency:
Home Wiz USA
(305) 644-6600
Listed By:
German E Grudny · License #3092975
(786) 663-2808
Source:
Exprealty
Added: Feb 19
Changed: Sep 5
Last Checked: Sep 7 at 1:55PM
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 Home Wiz USA
Investment Insights
Based on property information with market context.
This residential income duplex consists of two separate 5-bedroom, 2-bath units. Both units are currently rented, supporting an income-producing configuration for an investor buyer.
The property is listed for sale at 5 NE 16th Ct in Fort Lauderdale, Florida. Per the seller, showings will be conducted only once under contract.
The offering is structured as a two-unit package, with each unit laid out as a full 5-bedroom, 2-bath residence.
The property is listed for sale at 5 NE 16th Ct in Fort Lauderdale, Florida. Per the seller, showings will be conducted only once under contract.
The offering is structured as a two-unit package, with each unit laid out as a full 5-bedroom, 2-bath residence.
Key Highlights
- Duplex built in 1975 with two separate 5‑bedroom, 2‑bath units
- Both units are currently rented
- Showings are scheduled only once the buyer is under contract
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
$47,159
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
4.62%
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%
$943,180
$943.2K
Cap Rate 7%
$673,700
$673.7K
Cap Rate 9%
$523,989
$524.0K
Market Conditions
NOI Build-Up for 2,829 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
$71.3K $25.20/SF
− Vacancy
−$3.9K −$1.39/SF
EGI
$67.4K $23.81/SF
− OpEx
−$20.2K −$7.14/SF
NOI
$47.2K $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%
$943,180
Cap Rate 7%
$673,700
Cap Rate 9%
$523,989
Alternative Uses
Best Use
Multifamily LT 5
$673.7K
$589.5K – $786.0K
NOI $47,159 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$606.9K
$531.0K – $708.0K
NOI $42,481 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,076 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,539
Businesses Nearby
Explore this area
Business Placement
Demographics for 33305, FL
12,044
Population
8,285
Households
1.5
Avg Household Size
52
Median Age
54%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
5,475
Density / Sq Mi
$89,944
Median Household Income
$60,924
Median Earnings
$1,850
Median Rent
$558,200
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 - Duplex with two 5-bedroom, 2-bath units that are currently rented.
Where is this duplex located?
The property is located at 5 Ne 16th Ct Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,020,000.
What are key features of this property?
This property features: Duplex built in 1975 with two separate 5‑bedroom, 2‑bath units; Both units are currently rented; Showings are scheduled only once the buyer is under contract
