Two-Unit Duplex
For Sale
$489,900
741 NW 10th Terrace, Fort Lauderdale, FL 33311
1951 duplex with two residential units and month-to-month tenancy near major Fort Lauderdale destinations.
Property Size1,305 SF
Lot Size0.23 Acres
Days on Market15
Property Features for 741 NW 10th Terrace
General Information
Standard status
Active
Size
1,305 SF
Lot size
0.23 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,097
Building Details
Building Size
1,305 SF
Year Built
1951
Listing Agency:
Allstar Realty Inc
Listed By:
William M McLaren Jr · License #3009266
(954) 530-7118
Source:
Tylertuchow
Added: Sep 11
Changed: Sep 25
Last Checked: Sep 24 at 5:53PM
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 Allstar Realty Inc
Investment Insights
Based on property information with market context.
Built in 1951, this duplex contains two separate two-bedroom, one-bath units on a 10,125-square-foot lot. The property is occupied by tenants on month-to-month arrangements, providing a residential income configuration with flexible tenancy terms.
The site is located near I-95, US-1, Galleria, Downtown, and the beaches. Its duplex layout and nearly quarter-acre lot distinguish the property within an established Fort Lauderdale setting.
The site is located near I-95, US-1, Galleria, Downtown, and the beaches. Its duplex layout and nearly quarter-acre lot distinguish the property within an established Fort Lauderdale setting.
Key Highlights
- Two‑unit duplex with two 2‑bedroom, 1‑bath units
- 10,125‑square‑foot lot measuring nearly a quarter acre
- Built in 1951
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
$21,754
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
4.44%
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%
$435,080
$435.1K
Cap Rate 7%
$310,771
$310.8K
Cap Rate 9%
$241,711
$241.7K
Market Conditions
NOI Build-Up for 1,305 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%
$435,080
Cap Rate 7%
$310,771
Cap Rate 9%
$241,711
Alternative Uses
Best Use
Multifamily LT 5
$310.8K
$271.9K – $362.6K
NOI $21,754 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$279.9K
$245.0K – $326.6K
NOI $19,596 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$877.0K
$767.3K – $1.02M
NOI $61,387 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,793
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
Median Home Value
Check the figures for this property
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 - 1951 duplex with two residential units and month-to-month tenancy near major Fort Lauderdale destinations.
Where is this duplex located?
The property is located at 741 NW 10th Terrace Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Two‑unit duplex with two 2‑bedroom, 1‑bath units; 10,125‑square‑foot lot measuring nearly a quarter acre; Built in 1951
