Two-Unit Duplex with Central
For Sale
Under Contract
$895,000
1126 NW 3rd St, Miami, FL 33128
Residential Income, Miami, FL
Property Size2,881 SF
Price / SF$310.66
Days on Market90
Property Features for 1126 NW 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
8000
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 6, Bedroom 5
Parking
4
Subdivision
SOSTS SUB
Lot features
< 1/4 Acre
Directions
Google/Waze
Standard status
Active Under Contract
APN
01-41-02-005-1750
Size
2,881 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
SOSTS SUB PB B-27 N100FT LOTS 19 & 20 & S35FT OF LOT 2 AKA PARCEL 19-6 BLK 11 73R-61118 LOT SIZE IRREGULAR
Tax Annual Amount
12700
Legal Description
SOSTS SUB PB B-27 N100FT LOTS 19 & 20 & S35FT OF LOT 2 AKA PARCEL 19-6 BLK 11 73R-61118 LOT SIZE IRREGULAR
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2003
Floors in Building
1
Flooring type
Tile - Ceramic, Laminate
Building materials
Block
Roof type
Barrel
Listing Agency:
Ronald N Sadaka R.E Broker
(305) 209-4904
Listed By:
Ronald Sadaka · License #0267577
(561) 252-0432
Added: Jun 11
Changed: Sep 7
Last Checked: Sep 8 at 5:06PM
MLS# A11990282
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 duplex contains two 3/2 residences within 2881 square feet. Built in 2003, the property features block construction, laminate and ceramic tile flooring, central heating and central air conditioning, a barrel roof, public sewer, and cable availability. The layout includes six bedrooms and four bathrooms across the two units.
The property is located on NW 3rd St in Miami’s Riverside “Little Havana” area, with walkable access to Marlins Stadium. Public transit and employment hubs are also described as being within minutes. The site is in a transit zone where parking is not required, and the stated zoning permits redevelopment at a higher density.
The property is located on NW 3rd St in Miami’s Riverside “Little Havana” area, with walkable access to Marlins Stadium. Public transit and employment hubs are also described as being within minutes. The site is in a transit zone where parking is not required, and the stated zoning permits redevelopment at a higher density.
Key Highlights
- Two 3/2 units in a duplex configuration
- 2881 square feet on a 2003‑built property
- Block construction with barrel roof
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
$57,780
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
6.46%
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%
$1,155,600
$1.2M
Cap Rate 7%
$825,429
$825.4K
Cap Rate 9%
$642,000
$642.0K
Market Conditions
NOI Build-Up for 2,881 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
$88.2K $30.60/SF
− Vacancy
−$5.6K −$1.95/SF
EGI
$82.5K $28.65/SF
− OpEx
−$24.8K −$8.60/SF
NOI
$57.8K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /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%
$1,155,600
Cap Rate 7%
$825,429
Cap Rate 9%
$642,000
Alternative Uses
Best Use
Multifamily LT 5
$825.4K
$722.3K – $963.0K
NOI $57,780 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$760.3K
$665.3K – $887.0K
NOI $53,222 @ 7.0% cap · market cap 5.95%
Theoretical Best
Specialty Retail
$1.94M
$1.70M – $2.27M
NOI $136,129 @ 7.0% cap · market cap 15.21%
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
3,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 33128, FL
8,213
Population
4,533
Households
1.8
Avg Household Size
41
Median Age
22%
College-Educated
66%
High-School Grad
0.4 sq mi
ZIP Area
20,533
Density / Sq Mi
$36,308
Median Household Income
$32,082
Median Earnings
$1,316
Median Rent
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 - Block construction, ceramic tile and laminate flooring, central heating and air conditioning, and public sewer support everyday operations.
Where is this duplex located?
The property is located at 1126 NW 3rd St Miami, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Two 3/2 units in a duplex configuration; 2881 square feet on a 2003‑built property; Block construction with barrel roof
