Turnkey Income-Producing
For Sale
$510,000
630 Northeast 15th Court, Fort Lauderdale, FL 33304
Fully leased duplex with updated units and private yards.
Property Size1,306 SF
Price / SF$390.51
Days on Market173
Property Features for 630 Northeast 15th Court
General Information
Standard status
Active
Size
1,306 SF
Property subtype
Residential Income / Duplex
Taxes and HOA fees
Annual Taxes
$9,467
Building Details
Year Built
1979
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Jeffrey Mathurin · License #3262270
(954) 450-2000
Source:
Compass
Added: Mar 4
Changed: Aug 23
Last Checked: Aug 24 at 12:19PM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This is a turnkey income-producing duplex featuring two 1-bedroom, 1-bathroom units. Each unit is currently rented at $1,750 per month. The property includes updated kitchens and bathrooms in both units. Each unit also has an in-unit washer and dryer, private yard space, and two dedicated parking spaces. The property is fully leased and well maintained. The property size is 1306 square feet.
Key Highlights
- Turnkey and income‑producing duplex.
- Fully leased, generating $1,750 per month per unit.
- Updated kitchens and bathrooms in each unit.
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
$21,771
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
4.27%
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%
$435,420
$435.4K
Cap Rate 7%
$311,014
$311.0K
Cap Rate 9%
$241,900
$241.9K
Market Conditions
NOI Build-Up for 1,306 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
$32.9K $25.20/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$31.1K $23.81/SF
− OpEx
−$9.3K −$7.14/SF
NOI
$21.8K $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%
$435,420
Cap Rate 7%
$311,014
Cap Rate 9%
$241,900
Alternative Uses
Best Use
Multifamily LT 5
$311.0K
$272.1K – $362.9K
NOI $21,771 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$280.2K
$245.1K – $326.9K
NOI $19,611 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$877.6K
$767.9K – $1.02M
NOI $61,434 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,606
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
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 - Fully leased duplex with updated units and private yards.
Where is this duplex located?
The property is located at 630 Northeast 15th Court Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Turnkey and income‑producing duplex.; Fully leased, generating $1,750 per month per unit.; Updated kitchens and bathrooms in each unit.
