Duplex with Renovated
For Sale
$848,000
8971 NW 33RD Street E-W, Coral Springs, FL 33065
Two-unit residential property with a fenced yard and screened outdoor living area.
Property Size3,222 SF
Price / SF$263.19
Days on Market31
Property Features for 8971 NW 33RD Street E-W
General Information
Standard status
Active
Size
3,222 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
light cosmetic improvements
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,715
Building Details
Building Size
3,222 SF
Year Built
1973
Listing Agency:
Avanti Way Realty LLC
Listed By:
Shawndra L Smialek · License #3068887
(305) 746-5302
Source:
Pamandtoni
Added: Aug 13
Changed: Sep 11
Last Checked: Sep 12 at 7:25AM
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 Avanti Way Realty LLC
Investment Insights
Based on property information with market context.
This 3,222-square-foot duplex, built in 1973, offers two distinct residences with different improvement profiles. The first unit is a renovated two-bedroom, two-bath layout featuring large-format tile, Taj Mahal granite countertops, and a screened Florida room. A fenced yard provides enclosed outdoor space. The second residence includes three bedrooms and two bathrooms, with light cosmetic improvements identified as a way to further update the unit.
The property is located in Coral Springs, Florida, at 8971 NW 33RD Street E-W. Its two-unit configuration combines an upgraded residence with a second unit that offers additional improvement potential through cosmetic work.
The property is located in Coral Springs, Florida, at 8971 NW 33RD Street E-W. Its two-unit configuration combines an upgraded residence with a second unit that offers additional improvement potential through cosmetic work.
Key Highlights
- 3,222‑square‑foot duplex built in 1973
- First unit features 2 bedrooms and 2 bathrooms with renovations
- Renovated unit includes large tiles and Taj Mahal granite countertops
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
$55,705
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
6.57%
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%
$1,114,100
$1.1M
Cap Rate 7%
$795,786
$795.8K
Cap Rate 9%
$618,944
$618.9K
Market Conditions
NOI Build-Up for 3,222 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
$83.1K $25.80/SF
− Vacancy
−$3.5K −$1.10/SF
EGI
$79.6K $24.70/SF
− OpEx
−$23.9K −$7.41/SF
NOI
$55.7K $17.29/SF
Area
Coral Springs, FL
Vacancy
4.27%
Lease Rate
$25.80 /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%
$1,114,100
Cap Rate 7%
$795,786
Cap Rate 9%
$618,944
Alternative Uses
Best Use
Multifamily LT 5
$795.8K
$696.3K – $928.4K
NOI $55,705 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$734.0K
$642.3K – $856.3K
NOI $51,380 @ 7.0% cap · market cap 6.06%
Theoretical Best
Specialty Retail
$5.49M
$4.81M – $6.41M
NOI $384,611 @ 7.0% cap · market cap 45.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,409
Businesses Nearby
Explore this area
Business Placement
Demographics for 33065, FL
59,668
Population
21,416
Households
2.8
Avg Household Size
36
Median Age
31%
College-Educated
93%
High-School Grad
8.6 sq mi
ZIP Area
6,938
Density / Sq Mi
$70,435
Median Household Income
$36,255
Median Earnings
$1,833
Median Rent
$416,800
Median Home Value
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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 - Two-unit residential property with a fenced yard and screened outdoor living area.
Where is this duplex located?
The property is located at 8971 NW 33RD Street E-W Coral Springs, FL.
What is the asking price?
The asking price for this property is $848,000.
What are key features of this property?
This property features: 3,222‑square‑foot duplex built in 1973; First unit features 2 bedrooms and 2 bathrooms with renovations; Renovated unit includes large tiles and Taj Mahal granite countertops
