Duplex with New
For Sale
Under Contract
$759,900
920 SW 28th St 1-2, Fort Lauderdale, FL 33315
Residential Income, Fort Lauderdale, FL
Property Size2,153 SF
Price / SF$352.95
Days on Market33
Property Features for 920 SW 28th St 1-2
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RD-15
Bedrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2
Parking
4
Security features
Security
Patio and Porch features
Porch
Exterior features
Fence, Security/High Impact Doors, Lighting, Porch
Fencing
Fenced
Subdivision
OAK GROVE
Lot features
Sprinkler System, < 1/4 Acre
Standard status
Active Under Contract
APN
504221161670
Size
2,153 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
OAK GROVE 27-16 B LOT 6 BLK 5
Tax Annual Amount
10581
Legal Description
OAK GROVE 27-16 B LOT 6 BLK 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Electric, Central Air
Water source
Public
Amenities
backyard
Building Details
Year built
1973
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Better Homes & Gdns RE Fla 1st · Better Homes and Gardens Real Estate
(954) 661-2838
Listed By:
Nicholas Trotz · License #3292568
(954) 661-2838
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 31 at 7:06AM
MLS# A12062588
Copyright © 2026 Miami REALTORS®. 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 2,153-square-foot duplex contains two nearly identical units with open kitchen layouts, granite countertops, newer cabinetry, and neutral porcelain tile flooring. Central air conditioning serves both residences. The kitchens include dishwashers, microwaves, electric ranges and ovens, and garbage disposals, although one unit does not include kitchen appliances. Additional improvements include a new shingle roof, high-impact windows and doors, generous closets, fenced outdoor space, and a porch. The property was built in 1973 and has block construction.
Located at 920 SW 28th St in Fort Lauderdale, the duplex is approximately three minutes by car from The Fort Pickleball Park and five minutes from Fort Lauderdale-Hollywood International Airport. Snyder Park, restaurants, grocery stores, I-95, I-595, and the Turnpike are also identified in the surrounding area. Public water and public sewer serve the property.
Located at 920 SW 28th St in Fort Lauderdale, the duplex is approximately three minutes by car from The Fort Pickleball Park and five minutes from Fort Lauderdale-Hollywood International Airport. Snyder Park, restaurants, grocery stores, I-95, I-595, and the Turnpike are also identified in the surrounding area. Public water and public sewer serve the property.
Key Highlights
- 2,153 SF duplex with two nearly identical units
- New shingle roof and high‑impact windows and doors
- Central air conditioning in both units
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
$35,890
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
4.72%
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%
$717,800
$717.8K
Cap Rate 7%
$512,714
$512.7K
Cap Rate 9%
$398,778
$398.8K
Market Conditions
NOI Build-Up for 2,153 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
$54.3K $25.20/SF
− Vacancy
−$3.0K −$1.39/SF
EGI
$51.3K $23.81/SF
− OpEx
−$15.4K −$7.14/SF
NOI
$35.9K $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%
$717,800
Cap Rate 7%
$512,714
Cap Rate 9%
$398,778
Alternative Uses
Best Use
Multifamily LT 5
$512.7K
$448.6K – $598.2K
NOI $35,890 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$461.9K
$404.1K – $538.8K
NOI $32,330 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,277 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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 - Two near-matching units feature central air, porcelain tile, and updated kitchens.
Where is this duplex located?
The property is located at 920 SW 28th St 1-2 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: 2,153 SF duplex with two nearly identical units; New shingle roof and high‑impact windows and doors; Central air conditioning in both units
