Duplex with Private Fenced
New
For Sale
$1,170,000
5120 NE 22nd Avenue, Lighthouse Point, FL 33064
Separate electric meters and a circular paver driveway serve the two residences.
Property Size2,779 SF
Price / SF$421.01
Days on Market2
Property Features for 5120 NE 22nd Avenue
General Information
Standard status
Active
Size
2,779 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
RD-10
Taxes and HOA fees
Annual Taxes
$17,571
Building Details
Building Size
2,779 SF
Year Built
1972
Stories
1
Listing Agency:
EXP Realty
Listed By:
Kacie Anderson · License #3551541
(443) 340-2200
Source:
Laerrealty
Added: Sep 30
Last Checked: Sep 30 at 2:10PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This 2,779-square-foot duplex, built in 1972, contains two renovated residences. Unit A has two bedrooms plus a flex room, two bathrooms, a dedicated laundry room, and a remodeled kitchen. Unit B includes three bedrooms, two bathrooms, a flexible workspace, and updated kitchen and bathroom finishes. Both homes have impact windows and doors and their own fenced backyard. The property is zoned RD-10.
A circular paver driveway provides off-street parking, with additional room across the side and rear yard for a boat, RV, trailer, or other vehicles. The property is at 5120 NE 22nd Avenue in Lighthouse Point, Florida.
A circular paver driveway provides off-street parking, with additional room across the side and rear yard for a boat, RV, trailer, or other vehicles. The property is at 5120 NE 22nd Avenue in Lighthouse Point, Florida.
Key Highlights
- 2,779‑square‑foot duplex built in 1972
- Unit A: 2 bedrooms plus a flex room, 2 bathrooms, and dedicated laundry
- Unit B: 3 bedrooms, 2 bathrooms, and a flexible workspace
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
$46,325
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
3.96%
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%
$926,500
$926.5K
Cap Rate 7%
$661,786
$661.8K
Cap Rate 9%
$514,722
$514.7K
Market Conditions
NOI Build-Up for 2,779 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
$70.0K $25.20/SF
− Vacancy
−$3.9K −$1.39/SF
EGI
$66.2K $23.81/SF
− OpEx
−$19.9K −$7.14/SF
NOI
$46.3K $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%
$926,500
Cap Rate 7%
$661,786
Cap Rate 9%
$514,722
Alternative Uses
Best Use
Multifamily LT 5
$661.8K
$579.1K – $772.1K
NOI $46,325 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$610.6K
$534.2K – $712.3K
NOI $42,739 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,693 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate electric meters and a circular paver driveway serve the two residences.
Where is this duplex located?
The property is located at 5120 NE 22nd Avenue Lighthouse Point, FL.
What is the asking price?
The asking price for this property is $1,170,000.
What are key features of this property?
This property features: 2,779‑square‑foot duplex built in 1972; Unit A: 2 bedrooms plus a flex room, 2 bathrooms, and dedicated laundry; Unit B: 3 bedrooms, 2 bathrooms, and a flexible workspace
