Duplex With Private
For Sale
$645,000
516 SW 15th Street, Fort Lauderdale, FL 33315
Residential Income, Fort Lauderdale, FL
Property Size1,382 SF
Lot Size0.15 Acres
Price / SF$466.71
Days on Market146
Property Features for 516 SW 15th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RD-15
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4
Pets allowed
No, Yes
Pool private
1
Exterior features
Barbecue, Courtyard, Garden, Storage
Fencing
Fenced, Perimeter, Gate
Subdivision
LAUDERDALE
Elementary school
Croissant Park
Middle school
New River
High school
Stranahan
Standard status
Active
APN
504215013180
Size
1,382 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAUDERDALE 2-9 D LOT 22 BLK 57
Tax Annual Amount
12278
Legal Description
LAUDERDALE 2-9 D LOT 22 BLK 57
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1952
Floors in Building
1
Number of units
2
Flooring type
Tile, Wood, Vinyl
Building materials
Stucco
Roof type
Flat
Additional Structures
Storage, Pergola
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Alex Simpson · License #3560581
(954) 295-4757
Added: Apr 16
Changed: Sep 8
Last Checked: Sep 8 at 8:06PM
MLS# B26016401
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 property contains two fully separate homes on a 0.15-acre lot, with a combined property size of 1,382 square feet. Each residence has its own fenced yard, while the private pool, courtyard, garden, barbecue area, and storage add to the outdoor amenities. The buildings date to 1952 and feature stucco construction, flat roofs, wood, tile, and vinyl flooring, along with central heating and central air. Public water and public sewer serve the property, and cable is available.
The front residence is accessed from SW 15th Street, while the rear home is reached by an alley. The property is in Fort Lauderdale’s Croissant Park area, with downtown Fort Lauderdale, I-95, I-595, Fort Lauderdale-Hollywood International Airport, boating marinas, Fort Lauderdale Beach, and Broward Health located minutes away. The property did not flood in the 2023 generational flood.
The front residence is accessed from SW 15th Street, while the rear home is reached by an alley. The property is in Fort Lauderdale’s Croissant Park area, with downtown Fort Lauderdale, I-95, I-595, Fort Lauderdale-Hollywood International Airport, boating marinas, Fort Lauderdale Beach, and Broward Health located minutes away. The property did not flood in the 2023 generational flood.
Key Highlights
- Two separate homes on one 0.15‑acre lot
- Combined property size of 1,382 square feet
- Private fenced yard for each residence
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
$23,038
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
3.57%
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%
$460,760
$460.8K
Cap Rate 7%
$329,114
$329.1K
Cap Rate 9%
$255,978
$256.0K
Market Conditions
NOI Build-Up for 1,382 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
$34.8K $25.20/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$32.9K $23.81/SF
− OpEx
−$9.9K −$7.14/SF
NOI
$23.0K $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%
$460,760
Cap Rate 7%
$329,114
Cap Rate 9%
$255,978
Alternative Uses
Best Use
Multifamily LT 5
$329.1K
$288.0K – $384.0K
NOI $23,038 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$296.5K
$259.4K – $345.9K
NOI $20,753 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$928.7K
$812.6K – $1.08M
NOI $65,009 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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 separate residences provide flexible occupancy with individual fenced outdoor areas and private access arrangements.
Where is this duplex located?
The property is located at 516 SW 15th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Two separate homes on one 0.15‑acre lot; Combined property size of 1,382 square feet; Private fenced yard for each residence
