Concrete Block Duplex
For Sale
$289,500
Pending
96 SE Norfolk Blvd, Stuart, FL 34997
Residential Income, Stuart, FL
Property Size1,131 SF
Days on Market93
Property Features for 96 SE Norfolk Blvd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-2A
Bedrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1
Parking
2
Subdivision
FISHERMANS COVE
Lot features
< 1/4 Acre
Standard status
Pending
APN
403841003000009106
Size
1,131 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FISHERMANS COVE SEC 2 PHASE 1 LOT 91 E 1/2
Tax Annual Amount
3719
Legal Description
FISHERMANS COVE SEC 2 PHASE 1 LOT 91 E 1/2
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, Electric
Building Details
Year built
1980
Floors in Building
1
Flooring type
Tile - Ceramic, Tile
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
The Keyes Company
(954) 475-9813
Listed By:
Kelvin Ching · License #3298166
(954) 249-8129
Added: Jul 17
Changed: Oct 16
Last Checked: Oct 17 at 10:06AM
MLS# A12053147
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.
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Investment Insights
Based on property information with market context.
This 1,131-square-foot duplex unit was built in 1980 with concrete block and stucco construction. The home includes three bedrooms, one full bathroom, and one half bathroom, along with ceramic tile flooring, neutral interior finishes, stainless steel appliances, and a full-size washer and dryer. Central air conditioning, electric heating, and ceiling fans serve the interior, while the shingle roof was replaced in 2024.
The property is located in Fisherman's Cove in Stuart, just off Kanner Highway. I-95, Costco, Publix, Walgreens, shopping, dining, and other daily conveniences are within the surrounding area. Public sewer serves the property, and there is no HOA. The adjoining duplex unit at 4503 SE Ontario Dr is also available for purchase, creating an option to acquire both units.
The property is located in Fisherman's Cove in Stuart, just off Kanner Highway. I-95, Costco, Publix, Walgreens, shopping, dining, and other daily conveniences are within the surrounding area. Public sewer serves the property, and there is no HOA. The adjoining duplex unit at 4503 SE Ontario Dr is also available for purchase, creating an option to acquire both units.
Key Highlights
- 1,131 SF duplex unit with 3 bedrooms, 1 full bathroom, and 1 half bathroom
- Concrete block and stucco construction; built in 1980
- Shingle roof replaced in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,609
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,180
$332.2K
Cap Rate 7%
$237,271
$237.3K
Cap Rate 9%
$184,544
$184.5K
Market Conditions
NOI Build-Up for 1,131 SF
Gross rent
$25.1K $22.20/SF
− Vacancy
−$1.4K −$1.22/SF
EGI
$23.7K $20.98/SF
− OpEx
−$7.1K −$6.29/SF
NOI
$16.6K $14.69/SF
Area
Martin County, FL
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,180
Cap Rate 7%
$237,271
Cap Rate 9%
$184,544
Alternative Uses
Best Use
Multifamily LT 5
$237.3K
$207.6K – $276.8K
NOI $16,609 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$197.2K
$172.6K – $230.1K
NOI $13,804 @ 7.0% cap · market cap 4.77%
Theoretical Best
Retail
$297.1K
$260.0K – $346.7K
NOI $20,799 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
Business Placement
Demographics for 34997, FL
44,000
Population
22,192
Households
2
Avg Household Size
52
Median Age
30%
College-Educated
92%
High-School Grad
90.7 sq mi
ZIP Area
485
Density / Sq Mi
$75,705
Median Household Income
$37,381
Median Earnings
$1,520
Median Rent
$335,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom residence with ceramic tile flooring, stainless steel appliances, and a 2024 roof replacement.
Where is this duplex located?
The property is located at 96 SE Norfolk Blvd Stuart, FL.
What is the asking price?
The asking price for this property is $289,500.
What are key features of this property?
This property features: 1,131 SF duplex unit with 3 bedrooms, 1 full bathroom, and 1 half bathroom; Concrete block and stucco construction; built in 1980; Shingle roof replaced in 2024
