Renovated Duplex on Corner
For Sale
$350,000
611 S 21st Street, Fort Pierce, FL 34950
Residential Income, Fort Pierce, FL
Property Size1,280 SF
Lot Size0.36 Acres
Price / SF$273.44
Days on Market52
Property Features for 611 S 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Medium Den
Bedrooms
6
Full bathrooms
3
Rooms
Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 2
Patio and Porch features
Deck, Patio
Pets allowed
Yes, No
Exterior features
Balcony, Storage
Subdivision
FRANKLIN PARK SUBDIVISION
Standard status
Active
APN
240971100080000
Size
1,280 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FRANKLIN PARK S/D BLK 1 LOTS 8 AND 9
Tax Annual Amount
6046
Legal Description
FRANKLIN PARK S/D BLK 1 LOTS 8 AND 9
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1951
Floors in Building
1
Number of units
2
Flooring type
Wood
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Dalton Wade Inc
(888) 668-8283
Listed By:
Brauner Gamboa Urena · License #3283871
(772) 924-6326
Added: Jul 20
Changed: Sep 9
Last Checked: Sep 9 at 4:06PM
MLS# B26054866
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.
This duplex includes two residential units with a combined six bedrooms and three bathrooms. One unit offers two bedrooms and one bathroom and has been renovated, while the second provides four bedrooms and two bathrooms. The property was built in 1951 and features wood-frame construction with wood siding, wood flooring, shingle roofing, and wall or window cooling units. Exterior amenities include a balcony, deck, patio, and storage space.
The property occupies 0.36 acres across two parcels at 611 S 21st Street in Fort Pierce. It is identified with Medium Den zoning and benefits from public water and public sewer. The corner-lot configuration provides two separate parcels within the property, while existing residential units provide an established income-producing use.
The property occupies 0.36 acres across two parcels at 611 S 21st Street in Fort Pierce. It is identified with Medium Den zoning and benefits from public water and public sewer. The corner-lot configuration provides two separate parcels within the property, while existing residential units provide an established income-producing use.
Key Highlights
- Two‑unit duplex with a 2‑bedroom, 1‑bath unit and a 4‑bedroom, 2‑bath unit
- One residential unit is fully renovated
- 0.36‑acre property spanning two parcels
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
$18,797
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
5.37%
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%
$375,940
$375.9K
Cap Rate 7%
$268,529
$268.5K
Cap Rate 9%
$208,856
$208.9K
Market Conditions
NOI Build-Up for 1,280 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
$28.4K $22.20/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$26.9K $20.98/SF
− OpEx
−$8.1K −$6.29/SF
NOI
$18.8K $14.69/SF
Area
St. Lucie County, FL
Vacancy
5.50%
Lease Rate
$22.20 /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%
$375,940
Cap Rate 7%
$268,529
Cap Rate 9%
$208,856
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 authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with one renovated unit, outdoor areas, storage, and public water and sewer service.
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: Two‑unit duplex with a 2‑bedroom, 1‑bath unit and a 4‑bedroom, 2‑bath unit; One residential unit is fully renovated; 0.36‑acre property spanning two parcels
