Updated Duplex with Screened
For Sale
$399,900
5298 Deleon Avenue, Fort Pierce, FL 34951
Updated 2-unit duplex generating $3,350 in gross monthly income, featuring screened patios, fenced yard, and recent major upgrades.
Property Size2,565 SF
Price / SF$155.91
Days on Market46
Property Features for 5298 Deleon Avenue
General Information
Standard status
Active
Size
2,565 SF
Property subtype
Duplex
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
screened patios
fenced yard
Building Details
Year Built
1976
Listing Agency:
Approved Realty Solutions, Inc
(305) 342-2378
Listed By:
Patrick Jones · License #R11165434
(305) 342-2378
Source:
Lehmannflorida
Added: Jun 28
Changed: Aug 12
Last Checked: Aug 12 at 6:56AM
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 Approved Realty Solutions, Inc
Investment Insights
Based on property information with market context.
This updated duplex offers two separate rental units: a 3-bedroom 2-bath unit and a fully renovated 2-bedroom 1-bath unit. The property is described as cash-flowing, generating $3,350 in gross monthly income, with $1,800 for the 3/2 unit and $1,550 for the 2/1 unit. The 2-bedroom unit has been fully renovated, including a kitchen, updated bathroom, flooring, and fresh paint. The 3-bedroom unit has a new kitchen and other updates, and it is described as month-to-month.
Significant improvements noted include a brand-new roof in 2026 (reported as a $22,000 roof), a new AC unit in the 3-bedroom unit in 2026, along with a newer septic system and a newer well. Both units are described as having large bedrooms and ample closet space, plus screened patios and access to a fenced yard.
Significant improvements noted include a brand-new roof in 2026 (reported as a $22,000 roof), a new AC unit in the 3-bedroom unit in 2026, along with a newer septic system and a newer well. Both units are described as having large bedrooms and ample closet space, plus screened patios and access to a fenced yard.
Key Highlights
- Updated duplex (2 units) built in 1976 generating $3,350 in gross monthly income
- Revenue includes $1,800 per month for the 3/2 unit and $1,550 per month for the fully renovated 2/1 unit
- Brand‑new $22,000 roof scheduled/installed in 2026
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
$34,973
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
8.75%
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%
$699,460
$699.5K
Cap Rate 7%
$499,614
$499.6K
Cap Rate 9%
$388,589
$388.6K
Market Conditions
NOI Build-Up for 2,565 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
$66.8K $26.04/SF
− Vacancy
−$3.2K −$1.25/SF
EGI
$63.6K $24.79/SF
− OpEx
−$28.6K −$11.16/SF
NOI
$35.0K $13.63/SF
Area
St. Lucie County, FL
Vacancy
4.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$699,460
Cap Rate 7%
$499,614
Cap Rate 9%
$388,589
Alternative Uses
Best Use
Multifamily LT 5
$538.1K
$470.9K – $627.8K
NOI $37,668 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$499.6K
$437.2K – $582.9K
NOI $34,973 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$645.1K
$564.4K – $752.6K
NOI $45,154 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 34951, FL
15,357
Population
8,305
Households
1.8
Avg Household Size
56
Median Age
21%
College-Educated
92%
High-School Grad
24.3 sq mi
ZIP Area
632
Density / Sq Mi
$63,214
Median Household Income
$35,597
Median Earnings
$1,186
Median Rent
$229,600
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 - Updated 2-unit duplex generating $3,350 in gross monthly income, featuring screened patios, fenced yard, and recent major upgrades.
Where is this duplex located?
The property is located at 5298 Deleon Avenue Fort Pierce, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Updated duplex (2 units) built in 1976 generating $3,350 in gross monthly income; Revenue includes $1,800 per month for the 3/2 unit and $1,550 per month for the fully renovated 2/1 unit; Brand‑new $22,000 roof scheduled/installed in 2026
