Duplex Property with Private
For Sale
$498,000
933 NW 2nd Avenue, Fort Lauderdale, FL 33311
2019 residential property with an open layout, modern kitchen, and three bedrooms.
Property Size1,428 SF
Days on Market245
Property Features for 933 NW 2nd Avenue
General Information
Standard status
Active
Size
1,428 SF
Property subtype
Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,845
Building Details
Building Size
1,428 SF
Year Built
2019
Listing Agency:
Florida Homes Realty & Mortgag
(954) 699-6405
Listed By:
Celiane Bornelus · License #3505635
(954) 699-6405
Source:
Tylertuchow
Added: Dec 14, 2025
Changed: Aug 10
Last Checked: Aug 15 at 12:33PM
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 Florida Homes Realty & Mortgag
Investment Insights
Based on property information with market context.
This 2019 duplex property includes three bedrooms, two bathrooms, and an open interior arrangement with generous living areas. The residence features a modern kitchen and a private backyard suitable for outdoor use.
Located at 933 NW 2nd Avenue in Fort Lauderdale, Florida, the property is identified by ZIP code 33311.
Located at 933 NW 2nd Avenue in Fort Lauderdale, Florida, the property is identified by ZIP code 33311.
Key Highlights
- 2019 construction
- Three bedrooms and two bathrooms
- Open floor plan with spacious living areas
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
$23,804
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
4.78%
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%
$476,080
$476.1K
Cap Rate 7%
$340,057
$340.1K
Cap Rate 9%
$264,489
$264.5K
Market Conditions
NOI Build-Up for 1,428 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
$36.0K $25.20/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$34.0K $23.81/SF
− OpEx
−$10.2K −$7.14/SF
NOI
$23.8K $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%
$476,080
Cap Rate 7%
$340,057
Cap Rate 9%
$264,489
Alternative Uses
Best Use
Multifamily LT 5
$340.1K
$297.6K – $396.7K
NOI $23,804 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$306.3K
$268.0K – $357.4K
NOI $21,443 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$959.6K
$839.7K – $1.12M
NOI $67,173 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,399
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
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 - 2019 residential property with an open layout, modern kitchen, and three bedrooms.
Where is this duplex located?
The property is located at 933 NW 2nd Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: 2019 construction; Three bedrooms and two bathrooms; Open floor plan with spacious living areas
