Renovated Duplex With Updated
For Sale
$449,000
501 Wendell Road, Fort Pierce, FL 34950
Two residential units feature new kitchens, bathrooms, flooring, and a roof.
Property Size1,920 SF
Days on Market41
Property Features for 501 Wendell Road
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,483
Building Details
Building Size
1,920 SF
Year Built
1951
Buildings
1
Listing Agency:
Direct Realty Solutions
(305) 370-9118
Listed By:
Fernanda L Ibarra · License #3132718
(305) 370-9118
Source:
Meyerlucas
Added: Jul 10
Changed: Aug 14
Last Checked: Aug 18 at 4:26AM
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 Direct Realty Solutions
Investment Insights
Based on property information with market context.
Located at 501 Wendell Road in Fort Pierce, this duplex contains two residential units with distinct layouts. Unit A includes 2 bedrooms and 1 bathroom, while Unit B offers 3 bedrooms and 1 bathroom. Both units have been updated with new kitchens equipped with stainless steel appliances, renovated bathrooms, and new flooring throughout.
The property was built in 1951 and has a new roof. One water meter and one electric meter serve the duplex, and the property has no HOA.
The property was built in 1951 and has a new roof. One water meter and one electric meter serve the duplex, and the property has no HOA.
Key Highlights
- Two‑unit duplex with 2‑bedroom and 3‑bedroom layouts
- Both units include 1 bathroom
- New kitchens with stainless steel appliances in both units
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
$28,196
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
6.28%
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%
$563,920
$563.9K
Cap Rate 7%
$402,800
$402.8K
Cap Rate 9%
$313,289
$313.3K
Market Conditions
NOI Build-Up for 1,920 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
$42.6K $22.20/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$40.3K $20.98/SF
− OpEx
−$12.1K −$6.29/SF
NOI
$28.2K $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%
$563,920
Cap Rate 7%
$402,800
Cap Rate 9%
$313,289
Alternative Uses
Best Use
Multifamily LT 5
$402.8K
$352.5K – $469.9K
NOI $28,196 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$374.0K
$327.2K – $436.3K
NOI $26,178 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$482.9K
$422.5K – $563.3K
NOI $33,800 @ 7.0% cap · market cap 7.53%
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
740
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
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 residential units feature new kitchens, bathrooms, flooring, and a roof.
Where is this duplex located?
The property is located at 501 Wendell Road Fort Pierce, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two‑unit duplex with 2‑bedroom and 3‑bedroom layouts; Both units include 1 bathroom; New kitchens with stainless steel appliances in both units
