Renovated Duplex on Double Corner
611 S 21st Street Fort Pierce, FL 34950
New
For Sale
$350,000
Renovated two-bedroom and four-bedroom units produce current rental income on a double corner lot spanning two parcels.
Property Size1,280 SF
Price / SF$273.44
Days on Market6
Property Features for 611 S 21st Street
General Information
- Standard status
- Active
- Size
- 1,280 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1951
Listing Agency:
Dalton Wade Inc
(772) 924-6326
Listed By:
Brauner Gamboa Urena · License #R11153657
(772) 924-6326
Source:
Lehmannflorida
Added: Jul 20
Changed: Jul 24
Last Checked: Jul 25 at 11:43AM
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 Dalton Wade Inc
Investment Insights
Based on property information with market context.
Located at 611 S 21st Street in Fort Pierce, this duplex sits on a double corner lot spanning two parcels. The property features two residential units: a fully renovated two-bedroom, one-bath unit and a larger four-bedroom, two-bath unit.
According to the provided information, the two-bedroom unit is fully renovated and is currently leased for $1,400 per month, while the four-bedroom unit generates $1,500 per month. Beyond the existing income, the site is described as having potential to increase returns through development of a fourplex.
The existing duplex configuration and the two-parcel double-corner setting create a straightforward foundation for an investor seeking current rental income alongside the opportunity for additional development.
According to the provided information, the two-bedroom unit is fully renovated and is currently leased for $1,400 per month, while the four-bedroom unit generates $1,500 per month. Beyond the existing income, the site is described as having potential to increase returns through development of a fourplex.
The existing duplex configuration and the two-parcel double-corner setting create a straightforward foundation for an investor seeking current rental income alongside the opportunity for additional development.
Key Highlights
- 1951‑built duplex on a double corner lot spanning two parcels
- Fully renovated 2‑bedroom, 1‑bath unit generating $1,400 rent
- 4‑bedroom, 2‑bath unit generating $1,500 rent
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.4k | $22.20 |
| − Vacancy | −$1.6k | −$1.22 |
| EGI | $26.9k | $20.98 |
| − OpEx | −$8.1k | −$6.29 |
| NOI | $18.8k | $14.69 |
1,280 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$268.5K
$235.0K – $313.3K
NOI $18,797 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$249.3K
$218.2K – $290.9K
NOI $17,452 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$321.9K
$281.7K – $375.6K
NOI $22,533 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Renovated two-bedroom and four-bedroom units produce current rental income on a double corner lot spanning two parcels.
Where is this duplex located?
The property is located at 611 S 21st Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1951‑built duplex on a double corner lot spanning two parcels; Fully renovated 2‑bedroom, 1‑bath unit generating $1,400 rent; 4‑bedroom, 2‑bath unit generating $1,500 rent
