Two-Unit New Construction
New
For Sale
$829,900
5535 SW 19th St, West Park, FL 33023
Residential Income, West Park, FL
Property Size2,668 SF
Price / SF$311.06
Days on Market2
Property Features for 5535 SW 19th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
TOC 1
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 4, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5
Parking
4
Security features
Security
Exterior features
Fence, Security/High Impact Doors, Lighting, Room For Pool
Fencing
Fenced
Subdivision
CARVER RANCHES REV PLAT
Lot features
Sprinklers Automatic, < 1/4 Acre
Standard status
Active
APN
514219022250
Size
2,668 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
CARVER RANCHES REV PLAT 21-8 B LOT 2 BLK 56
Tax Annual Amount
2354
Legal Description
CARVER RANCHES REV PLAT 21-8 B LOT 2 BLK 56
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Charles Rutenberg Realty FTL
(954) 288-1986
Listed By:
Justin Singer · License #3068819
(954) 288-1986
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 4:06AM
MLS# A12080666
Copyright © 2026 Miami REALTORS®. 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 under-construction duplex in West Park, Florida, contains 2,668 square feet with a three-bedroom, two-bath layout on each side. Both units feature open living areas, modern kitchens, tile flooring, private laundry rooms, and included appliances. Hurricane impact windows and doors add durable protection, while block construction, shingle roofing, central air, central electric heating, and ceiling fans serve the property.
Each residence has an individual water meter and FPL electric meter. The property includes public water and public sewer service, full perimeter fencing, a rear dividing fence, and a large backyard with room for a pool. A one-year builder warranty is included, and there is no association. Construction is scheduled for 2026.
Each residence has an individual water meter and FPL electric meter. The property includes public water and public sewer service, full perimeter fencing, a rear dividing fence, and a large backyard with room for a pool. A one-year builder warranty is included, and there is no association. Construction is scheduled for 2026.
Key Highlights
- 2,668‑square‑foot duplex with a 3‑bedroom, 2‑bath layout on each side
- Separate water and FPL electric meters for each unit
- Hurricane impact windows and doors throughout
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
$44,475
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
5.36%
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%
$889,500
$889.5K
Cap Rate 7%
$635,357
$635.4K
Cap Rate 9%
$494,167
$494.2K
Market Conditions
NOI Build-Up for 2,668 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
$67.2K $25.20/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$63.5K $23.81/SF
− OpEx
−$19.1K −$7.14/SF
NOI
$44.5K $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%
$889,500
Cap Rate 7%
$635,357
Cap Rate 9%
$494,167
Alternative Uses
Best Use
Multifamily LT 5
$635.4K
$555.9K – $741.3K
NOI $44,475 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$586.2K
$512.9K – $683.9K
NOI $41,032 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,751 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
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 - Modern two-unit property with private utilities, fenced outdoor space, and contemporary finishes throughout.
Where is this duplex located?
The property is located at 5535 SW 19th St West Park, FL.
What is the asking price?
The asking price for this property is $829,900.
What are key features of this property?
This property features: 2,668‑square‑foot duplex with a 3‑bedroom, 2‑bath layout on each side; Separate water and FPL electric meters for each unit; Hurricane impact windows and doors throughout
