Renovated Duplex Income
For Sale
$529,997
6351 Hayes Street, Hollywood, FL 33024
Renovated duplex built in 1959 with two 2-bedroom, 1-bath units and in-unit laundry rooms.
Property Size1,529 SF
Price / SF$346.63
Days on Market67
Property Features for 6351 Hayes Street
General Information
Standard status
Active
Size
1,529 SF
Property subtype
Duplex
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1958
Tenancy
Multi
Listing Agency:
BAWONS Properties, Inc
Listed By:
Wendy Pierre · License #3272185
(305) 509-8336
Source:
Lehmannflorida
Added: Jul 2
Changed: Sep 5
Last Checked: Sep 6 at 7:04AM
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 BAWONS Properties, Inc
Investment Insights
Based on property information with market context.
Built in 1959 and renovated over time, this duplex includes hurricane impact windows and features two separate 2-bedroom, 1-bath units. Each unit has a laundry room, supporting convenient in-home laundry use for residents.
The property is located at 6351 Hayes Street in Hollywood, Florida, with quick access to major job centers, good schools, and local parks as noted in the remarks. Tenants pay for water and electricity, while the landlord services the septic tank regularly.
The duplex consists of two long-term residential income units, each currently collecting $2,000 per month in rent per the provided information.
The property is located at 6351 Hayes Street in Hollywood, Florida, with quick access to major job centers, good schools, and local parks as noted in the remarks. Tenants pay for water and electricity, while the landlord services the septic tank regularly.
The duplex consists of two long-term residential income units, each currently collecting $2,000 per month in rent per the provided information.
Key Highlights
- Renovated duplex built in 1959 (1958 reported), featuring two 2‑bedroom, 1‑bath units
- Each unit has a dedicated laundry room and is currently rented at $2,000/month
- Tenants pay for water and electricity; landlord services the septic tank regularly
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
$27,395
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
5.17%
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%
$547,900
$547.9K
Cap Rate 7%
$391,357
$391.4K
Cap Rate 9%
$304,389
$304.4K
Market Conditions
NOI Build-Up for 1,529 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
$41.3K $27.00/SF
− Vacancy
−$2.1K −$1.40/SF
EGI
$39.1K $25.60/SF
− OpEx
−$11.7K −$7.68/SF
NOI
$27.4K $17.92/SF
Area
Hollywood, FL
Vacancy
5.20%
Lease Rate
$27.00 /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%
$547,900
Cap Rate 7%
$391,357
Cap Rate 9%
$304,389
Alternative Uses
Best Use
Multifamily LT 5
$391.4K
$342.4K – $456.6K
NOI $27,395 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$364.1K
$318.6K – $424.8K
NOI $25,485 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$598.1K
$523.4K – $697.8K
NOI $41,870 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 33024, FL
74,843
Population
26,552
Households
2.8
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
11.6 sq mi
ZIP Area
6,452
Density / Sq Mi
$76,501
Median Household Income
$38,144
Median Earnings
$1,724
Median Rent
$365,200
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 - Renovated duplex built in 1959 with two 2-bedroom, 1-bath units and in-unit laundry rooms.
Where is this duplex located?
The property is located at 6351 Hayes Street Hollywood, FL.
What is the asking price?
The asking price for this property is $529,997.
What are key features of this property?
This property features: Renovated duplex built in 1959 (1958 reported), featuring two 2‑bedroom, 1‑bath units; Each unit has a dedicated laundry room and is currently rented at $2,000/month; Tenants pay for water and electricity; landlord services the septic tank regularly
