Two-Unit Block
New
For Sale
$489,900
741 NW 10th Terrace, Fort Lauderdale, FL 33311
Residential Income, Fort Lauderdale, FL
Property Size1,305 SF
Lot Size0.23 Acres
Price / SF$375.40
Days on Market4
Property Features for 741 NW 10th Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RMM-25
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 1
Pets allowed
No, Yes
Fencing
Fenced, Chain Link
Subdivision
Progresso 2-18 D
Lot features
Oversized Lot
Elementary school
Sunland Park Academy
Middle school
Parkway
High school
Fort Lauderdale
Standard status
Active
APN
494234067360
Size
1,305 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PROGRESSO 2-18 D LOT 3 TO 5 BLK 274
Tax Annual Amount
3097
Legal Description
PROGRESSO 2-18 D LOT 3 TO 5 BLK 274
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central, Heat Pump (Heating)
Cooling system
Central Air, Heat Pump, Electric, Ductless, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1951
Floors in Building
1
Number of units
2
Flooring type
Wood, Tile, Tile - Ceramic
Building materials
Block, Stucco
Roof type
Fiberglass
Listing Agency:
Allstar Realty Inc
(954) 530-7118
Listed By:
William M McLaren Jr · License #3009266
(954) 445-7355
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 13 at 11:06AM
MLS# B26075186
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 1,305-square-foot duplex, built in 1951, contains two residential units, each configured with two bedrooms and one bathroom. Block and stucco construction is paired with wood and tile flooring, central cooling, electric heat-pump systems, a fiberglass roof, chain-link fencing, and public water and sewer. The property sits on a 0.23-acre lot and is zoned RMM-25.
The address provides access to I-95 and US-1, with Galleria, Downtown, and area beaches identified nearby. Both units are occupied under month-to-month arrangements, offering flexibility in future leasing decisions. Existing features include separate living accommodations within a compact duplex layout and public utility service.
The address provides access to I-95 and US-1, with Galleria, Downtown, and area beaches identified nearby. Both units are occupied under month-to-month arrangements, offering flexibility in future leasing decisions. Existing features include separate living accommodations within a compact duplex layout and public utility service.
Key Highlights
- Two‑unit duplex with two bedrooms and one bathroom in each unit
- 1,305 square feet on a 0.23‑acre lot
- RMM‑25 zoning
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 - Each residence offers two bedrooms and one bath, with tenants currently occupying on month-to-month terms.
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 bedrooms and one bathroom in each unit; 1,305 square feet on a 0.23‑acre lot; RMM‑25 zoning
