Updated Duplex with EV
For Sale
$439,000
605 Nw 15th Ave, Pompano Beach, FL 33441
Two refreshed one-bedroom residences offer separate utilities, private laundry, and shared outdoor space.
Property Size798 SF
Price / SF$550.13
Days on Market9
Property Features for 605 Nw 15th Ave
General Information
Standard status
Active
Size
798 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$633
Amenities
impact windows
wood-look porcelain tile
quartz countertops
recessed lighting
mini-split A/C
in-unit washer/dryer
dishwasher
updated electrical service
separate electric meters
separate water meters
separate natural gas meters
tankless water heaters
EV charging outlets
backyard
shared storage shed
Building Details
Buildings
1
Listing Agency:
Prestigious Homes Realty
Listed By:
Ronald Schwartzman
(561) 445-3999
Source:
Exprealty
Added: Sep 3
Changed: Sep 10
Last Checked: Sep 10 at 2:53PM
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 Prestigious Homes Realty
Investment Insights
Based on property information with market context.
This duplex at 605 NW 15th Ave in Pompano Beach contains two updated one-bedroom, one-bath units. Interior improvements include impact windows, wood-look porcelain tile, quartz countertops, recessed lighting, mini-split air conditioning, dishwashers, and in-unit washers and dryers. Updated electrical service and tankless water heaters support the renovated interiors.
Each residence has separate electric, water, and natural gas metering. The property also includes ample parking, EV charging outlets, a shared storage shed, and a large backyard with a mature mango tree. The two-unit configuration provides flexibility for an owner-occupant or an investor seeking separate residential spaces.
Each residence has separate electric, water, and natural gas metering. The property also includes ample parking, EV charging outlets, a shared storage shed, and a large backyard with a mature mango tree. The two-unit configuration provides flexibility for an owner-occupant or an investor seeking separate residential spaces.
Key Highlights
- Two updated 1‑bedroom, 1‑bath units
- Impact windows, quartz countertops, porcelain tile, and recessed lighting
- Separate electric, water, and natural gas meters
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
$13,345
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
3.04%
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%
$266,900
$266.9K
Cap Rate 7%
$190,643
$190.6K
Cap Rate 9%
$148,278
$148.3K
Market Conditions
NOI Build-Up for 798 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
$20.1K $25.20/SF
− Vacancy
−$1.0K −$1.31/SF
EGI
$19.1K $23.89/SF
− OpEx
−$5.7K −$7.17/SF
NOI
$13.3K $16.72/SF
Area
Pompano Beach, FL
Vacancy
5.20%
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%
$266,900
Cap Rate 7%
$190,643
Cap Rate 9%
$148,278
Alternative Uses
Best Use
Multifamily LT 5
$190.6K
$166.8K – $222.4K
NOI $13,345 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$175.1K
$153.2K – $204.3K
NOI $12,258 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$311.2K
$272.3K – $363.1K
NOI $21,785 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Explore this area
Business Placement
Demographics for 33441, FL
29,311
Population
15,225
Households
1.9
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,106
Density / Sq Mi
$57,257
Median Household Income
$35,163
Median Earnings
$1,544
Median Rent
$381,700
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 refreshed one-bedroom residences offer separate utilities, private laundry, and shared outdoor space.
Where is this duplex located?
The property is located at 605 Nw 15th Ave Pompano Beach, FL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Two updated 1‑bedroom, 1‑bath units; Impact windows, quartz countertops, porcelain tile, and recessed lighting; Separate electric, water, and natural gas meters
