Upgraded Duplex With New
For Sale
$759,900
920 SW 28th Street Unit 12, Fort Lauderdale, FL 33315
Two nearly identical units offer open kitchens, central air conditioning, and porcelain tile flooring.
Property Size2,153 SF
Price / SF$352.95
Days on Market16
Property Features for 920 SW 28th Street Unit 12
General Information
Standard status
Active
Size
2,153 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1973
Listing Agency:
Better Homes & Gdns RE Fla 1st
(954) 661-2838
Listed By:
Nicholas A Trotz · License #R11165434
(954) 661-2838
Source:
Lehmannflorida
Added: Jul 30
Changed: Aug 14
Last Checked: Aug 14 at 6:59AM
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 Better Homes & Gdns RE Fla 1st
Investment Insights
Based on property information with market context.
This 2,153-square-foot duplex, built in 1973, includes two nearly matching units with open kitchen layouts, generous closet space, and neutral porcelain tile flooring throughout. Recent improvements include a new roof, impact-rated windows and doors, granite countertops, newer cabinetry, and central air conditioning serving both units. Kitchen features include dishwashers, microwaves, electric ranges and ovens, and garbage disposals, although one unit does not include kitchen appliances. A large backyard adds outdoor space to the property.
Located at 920 SW 28th Street in Fort Lauderdale, the duplex is a 3-minute drive or 10-minute bike ride from The Fort Pickleball Park. Snyder Park, beaches, restaurants, grocery stores, I-95, I-595, the Turnpike, and Fort Lauderdale–Hollywood International Airport are also identified in the surrounding area.
Located at 920 SW 28th Street in Fort Lauderdale, the duplex is a 3-minute drive or 10-minute bike ride from The Fort Pickleball Park. Snyder Park, beaches, restaurants, grocery stores, I-95, I-595, the Turnpike, and Fort Lauderdale–Hollywood International Airport are also identified in the surrounding area.
Key Highlights
- Two‑unit duplex totaling 2,153 SF
- New roof plus 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
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 nearly identical units offer open kitchens, central air conditioning, and porcelain tile flooring.
Where is this duplex located?
The property is located at 920 SW 28th Street Unit 12 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: Two‑unit duplex totaling 2,153 SF; New roof plus impact windows and doors; Central air conditioning in both units
