Two-Home Income
For Sale
Contact for pricing
615 SW 14th Avenue # 2 #1-2, Fort Lauderdale, FL 33312
Two updated 2-bedroom, 1-bath homes on one lot offer flexible living arrangements and rental income potential.
Property Size1,722 SF
Price / SF$426.25
Days on Market132
Property Features for 615 SW 14th Avenue # 2 #1-2
General Information
Standard status
Active
Size
1,722 SF
Property subtype
Multifamily
Zoning
RD-15
Additional Details
Multifamily Units
2
Building Details
Year Built
1931
Units
2
Listing Agency:
Sellstate 360 Realty
(954) 765-0700
Listed By:
Robert Ernst · License #3136131
Source:
Crexi
Added: Apr 9
Changed: Aug 8
Last Checked: Aug 17 at 6:01AM
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 Sellstate 360 Realty
Investment Insights
Based on property information with market context.
This property is a duplex-style setup featuring two single-family homes on the same lot. Both units are updated 2-bedroom, 1-bath residences, providing the option to occupy one home while renting the other. The configuration is well suited for extended family needs or for buyers looking for an income-producing component alongside a residential purchase.
Located in the Riverside Park neighborhood of Fort Lauderdale, the property is within a couple of blocks of a sports park and playground. It is also around the corner from Abiaka Park on the New River, offering nearby access to outdoor recreation such as paddle boarding and other water activities.
From a practical standpoint, this arrangement can appeal to buyers who want a straightforward two-unit residential asset without giving up the familiarity of single-family living. For investors, the presence of two updated, independently usable homes on one lot supports a simple rental-income strategy, while owner-occupants may value the ability to share the same property footprint with family or use one unit to help offset housing expenses.
Located in the Riverside Park neighborhood of Fort Lauderdale, the property is within a couple of blocks of a sports park and playground. It is also around the corner from Abiaka Park on the New River, offering nearby access to outdoor recreation such as paddle boarding and other water activities.
From a practical standpoint, this arrangement can appeal to buyers who want a straightforward two-unit residential asset without giving up the familiarity of single-family living. For investors, the presence of two updated, independently usable homes on one lot supports a simple rental-income strategy, while owner-occupants may value the ability to share the same property footprint with family or use one unit to help offset housing expenses.
Key Highlights
- Year built 1931 with two single‑family homes on the same lot
- Each home is an updated 2‑bedroom, 1‑bath layout
- Flexible setup for extended family living and/or rental income
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
$28,705
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
3.91%
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%
$574,100
$574.1K
Cap Rate 7%
$410,071
$410.1K
Cap Rate 9%
$318,944
$318.9K
Market Conditions
NOI Build-Up for 1,722 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
$43.4K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$41.0K $23.81/SF
− OpEx
−$12.3K −$7.14/SF
NOI
$28.7K $16.67/SF
Area
Fort Lauderdale, 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%
$574,100
Cap Rate 7%
$410,071
Cap Rate 9%
$318,944
Alternative Uses
Best Use
Multifamily LT 5
$410.1K
$358.8K – $478.4K
NOI $28,705 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$369.4K
$323.2K – $431.0K
NOI $25,858 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,003 @ 7.0% cap · market cap 11.04%
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
3,167
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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 updated 2-bedroom, 1-bath homes on one lot offer flexible living arrangements and rental income potential.
Where is this duplex located?
The property is located at 615 SW 14th Avenue # 2 #1-2 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $734,000.
What are key features of this property?
This property features: Year built 1931 with two single‑family homes on the same lot; Each home is an updated 2‑bedroom, 1‑bath layout; Flexible setup for extended family living and/or rental income
