Two-Unit Duplex with
New
For Sale
$549,000
5045 Se Driftwood Avenue, Stuart, FL 34997
Income property with two distinct floor plans, month-to-month occupancy, and no HOA association.
Property Size2,220 SF
Price / SF$247.30
Days on Market7
Property Features for 5045 Se Driftwood Avenue
General Information
Standard status
Active
Size
2,220 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,929
Amenities
washer and dryer
Building Details
Tenancy
Multi
Listing Agency:
Sheehan Realty Corp
(561) 745-2600
Listed By:
Tiffany Salvador Acevedo
(561) 371-4503
Source:
Exprealty
Added: Aug 27
Changed: Sep 1
Last Checked: Sep 2 at 6:50PM
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 Sheehan Realty Corp
Investment Insights
Based on property information with market context.
This duplex contains 2,220 square feet across two residential units. One unit provides three bedrooms and 2.5 baths, while the adjacent unit includes two bedrooms and 1.5 baths. Both residences have full-size washer and dryer appliances.
The property is served by septic and public water, with no HOA. Current occupants are renting month to month without lease terms. The property is located in Port Salerno, minutes from waterfront dining and a community boat ramp.
The property is served by septic and public water, with no HOA. Current occupants are renting month to month without lease terms. The property is located in Port Salerno, minutes from waterfront dining and a community boat ramp.
Key Highlights
- 2,220‑square‑foot duplex with two residential units
- Unit mix includes a 3‑bedroom, 2.5‑bath residence and a 2‑bedroom, 1.5‑bath residence
- Full‑size washer and dryer 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
$32,601
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
5.94%
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%
$652,020
$652.0K
Cap Rate 7%
$465,729
$465.7K
Cap Rate 9%
$362,233
$362.2K
Market Conditions
NOI Build-Up for 2,220 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
$49.3K $22.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$46.6K $20.98/SF
− OpEx
−$14.0K −$6.29/SF
NOI
$32.6K $14.69/SF
Area
Martin 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%
$652,020
Cap Rate 7%
$465,729
Cap Rate 9%
$362,233
Alternative Uses
Best Use
Multifamily LT 5
$465.7K
$407.5K – $543.4K
NOI $32,601 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$387.1K
$338.7K – $451.6K
NOI $27,096 @ 7.0% cap · market cap 4.94%
Theoretical Best
Retail
$583.2K
$510.3K – $680.4K
NOI $40,825 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
479
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
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Frequently Asked Questions
What type of property is this?
Duplex - Income property with two distinct floor plans, month-to-month occupancy, and no HOA association.
Where is this duplex located?
The property is located at 5045 Se Driftwood Avenue Stuart, FL.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 2,220‑square‑foot duplex with two residential units; Unit mix includes a 3‑bedroom, 2.5‑bath residence and a 2‑bedroom, 1.5‑bath residence; Full‑size washer and dryer in both units
