Renovated Two-Unit
New
For Sale
$1,170,000
5120 NE 22nd Avenue, Lighthouse Point, FL 33064
Residential Income, Lighthouse Point, FL
Property Size2,779 SF
Lot Size0.17 Acres
Price / SF$421.01
Days on Market3
Property Features for 5120 NE 22nd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RD-10
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Bathroom 4, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 2
Window features
Plantation Shutters
Patio and Porch features
Patio, Porch
Pets allowed
Yes, No
Exterior features
Courtyard, Awning(s), Barbecue, Custom Lighting, Garden, Storage
Fencing
Fenced, Gate, Privacy
Subdivision
POMPANO WATERWAY ESTATES 1ST ADD
Lot features
Corner Lot, Fruit Tree(s), Landscaped, Oversized Lot, Room for Pool
Standard status
Active
APN
484307140190
Size
2,779 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
POMPANO WATERWAY ESTATES 1ST ADD 41-49 B LOT 4 BLK 2
Tax Annual Amount
17571
Legal Description
POMPANO WATERWAY ESTATES 1ST ADD 41-49 B LOT 4 BLK 2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Exhaust Fan (Cooling), Central Air
Water source
Public
Amenities
impact windows & doors
private fenced backyard
circular paver driveway
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Flooring type
Wood, Tile, Laminate
Building materials
CBS, Concrete Block - No Stucco, Stucco
Roof type
Tile
Additional Structures
Storage
Listing Agency:
EXP Realty
Listed By:
Kacie Marie Anderson · License #3551541
(443) 340-2200
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 1 at 9:06AM
MLS# B26081914
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two residences totaling 2,779 square feet on a 0.17-acre parcel. Unit A has two bedrooms, a flex room, two bathrooms and a dedicated laundry room; Unit B has three bedrooms and two bathrooms, plus a separate workspace. Both kitchens and bathrooms have been remodeled, and both units have impact windows and doors. Each residence has a fenced backyard, while a circular paver driveway and side and rear yard provide additional outdoor and vehicle space. The property is zoned RD-10 and was built in 1972.
At 5120 NE 22nd Avenue in Lighthouse Point, the property sits east of Federal Highway. The listing identifies access to Federal Highway and I-95, with Deerfield Beach, Hillsboro Beach, Pompano Beach, the Intracoastal Waterway, marinas and public boat ramps among the nearby destinations. Public water and sewer serve the property.
At 5120 NE 22nd Avenue in Lighthouse Point, the property sits east of Federal Highway. The listing identifies access to Federal Highway and I-95, with Deerfield Beach, Hillsboro Beach, Pompano Beach, the Intracoastal Waterway, marinas and public boat ramps among the nearby destinations. Public water and sewer serve the property.
Key Highlights
- Two residences with 2,779 square feet combined
- Unit A: 2 bedrooms, a flex room, 2 bathrooms and dedicated laundry; Unit B: 3 bedrooms and 2 bathrooms
- 0.17‑acre parcel zoned RD‑10
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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Current Use
Lease Details
2
Residential units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 separate residences pair updated kitchens and baths with private fenced outdoor areas.
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: Two residences with 2,779 square feet combined; Unit A: 2 bedrooms, a flex room, 2 bathrooms and dedicated laundry; Unit B: 3 bedrooms and 2 bathrooms; 0.17‑acre parcel zoned RD‑10
