Corner-Lot Duplex with In-Law
New
For Sale
$650,000
601 NE 33RD Street, Oakland Park, FL 33334
Residential Income, Oakland Park, FL
Property Size1,351 SF
Lot Size0.18 Acres
Price / SF$481.13
Days on Market7
Property Features for 601 NE 33RD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-1
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 1
Fencing
Fenced
Subdivision
OAKLAND PARK SECOND ADD
Elementary school
Oakland Park
Middle school
James S. Rickards
High school
Northeast
Standard status
Active
APN
494223054580
Size
1,351 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OAKLAND PARK SECOND ADD 1-39 B LOT 30 BLK 69
Tax Annual Amount
13460
Legal Description
OAKLAND PARK SECOND ADD 1-39 B LOT 30 BLK 69
Utilities
Sewer type
Public Sewer
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1951
Floors in Building
1
Number of units
2
Flooring type
Tile, Terrazzo, Carpet
Building materials
Stucco
Listing Agency:
Brookfield Executive Real Esta
(954) 951-9344
Listed By:
Devin M Ruiz · License #3318029
(954) 429-5649
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 6 at 7:06AM
MLS# B26070398
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.
The 1951 duplex contains 1,351 square feet on a 0.18-acre corner lot. Its layout combines a three-bedroom, two-bath main residence with an adjoining in-law suite that adds bedroom and bathroom space. Separate driveways and private garden areas provide distinct access and outdoor features, while hurricane-impact windows serve both units. Interior finishes include tile, terrazzo, and carpet, and cooling is provided by ceiling fans. The property is fenced and connected to public water and public sewer.
Located in Oakland Park, the property carries R-1 zoning and is currently tenant-occupied with rental income in place. Shopping, dining, and major roads are nearby.
Located in Oakland Park, the property carries R-1 zoning and is currently tenant-occupied with rental income in place. Shopping, dining, and major roads are nearby.
Key Highlights
- 1,351‑square‑foot duplex on a 0.18‑acre corner lot
- Main residence includes a 3‑bedroom/2‑bath layout
- Adjoining in‑law suite provides an additional living configuration
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
$22,521
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
3.46%
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%
$450,420
$450.4K
Cap Rate 7%
$321,729
$321.7K
Cap Rate 9%
$250,233
$250.2K
Market Conditions
NOI Build-Up for 1,351 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
$34.0K $25.20/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$32.2K $23.81/SF
− OpEx
−$9.7K −$7.14/SF
NOI
$22.5K $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%
$450,420
Cap Rate 7%
$321,729
Cap Rate 9%
$250,233
Alternative Uses
Best Use
Multifamily LT 5
$321.7K
$281.5K – $375.4K
NOI $22,521 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$296.8K
$259.7K – $346.3K
NOI $20,777 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$685.4K
$599.7K – $799.7K
NOI $47,979 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,613
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
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 - Both units have hurricane-impact windows, with separate driveways and private garden areas.
Where is this duplex located?
The property is located at 601 NE 33RD Street Oakland Park, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,351‑square‑foot duplex on a 0.18‑acre corner lot; Main residence includes a 3‑bedroom/2‑bath layout; Adjoining in‑law suite provides an additional living configuration
