Duplex with Large
For Sale
$500,000
950 Sw 29th St, Fort Lauderdale, FL 33311
Duplex with a huge backyard, leased through July 2026, designed for income-producing residential living.
Property Size1,795 SF
Price / SF$278.55
Days on Market129
Property Features for 950 Sw 29th St
General Information
Standard status
Active
Size
1,795 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,732
Listing Agency:
Paragon Properties Group LLC
(954) 732-6154
Listed By:
Darrell L Gonzales · License #3417238
(954) 732-6154
Source:
Exprealty
Added: Apr 24
Changed: Aug 25
Last Checked: Aug 29 at 4:11PM
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 Paragon Properties Group LLC
Investment Insights
Based on property information with market context.
This duplex offers two residential units and features a large backyard. The property is currently occupied, with tenants on a lease scheduled through July 2026.
Located at 950 SW 29th St in Fort Lauderdale, the home is described as minutes from Las Olas, Fort Lauderdale Beach, and Fort Lauderdale Airport, with nearby shopping, dining, and entertainment options.
Located at 950 SW 29th St in Fort Lauderdale, the home is described as minutes from Las Olas, Fort Lauderdale Beach, and Fort Lauderdale Airport, with nearby shopping, dining, and entertainment options.
Key Highlights
- Duplex built in 1954
- Tenants are under lease through July 2026
- Huge backyard
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
$29,922
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
5.98%
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%
$598,440
$598.4K
Cap Rate 7%
$427,457
$427.5K
Cap Rate 9%
$332,467
$332.5K
Market Conditions
NOI Build-Up for 1,795 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
$45.2K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$42.7K $23.81/SF
− OpEx
−$12.8K −$7.14/SF
NOI
$29.9K $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%
$598,440
Cap Rate 7%
$427,457
Cap Rate 9%
$332,467
Alternative Uses
Best Use
Multifamily LT 5
$427.5K
$374.0K – $498.7K
NOI $29,922 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$385.1K
$336.9K – $449.2K
NOI $26,954 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,437 @ 7.0% cap · market cap 16.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,100
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 - Duplex with a huge backyard, leased through July 2026, designed for income-producing residential living.
Where is this duplex located?
The property is located at 950 Sw 29th St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Duplex built in 1954; Tenants are under lease through July 2026; Huge backyard
