Quadplex with Impact
For Sale
$699,999
Pending
14923 SW 302nd Ter, Homestead, FL 33033
Residential Income, Homestead, FL
Property Size2,230 SF
Days on Market43
Property Features for 14923 SW 302nd Ter
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
0100
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 5, Bathroom 3, Bathroom 2
Parking
6
Subdivision
PALMLAND HOMES SOUTH NO 5
Lot features
< 1/4 Acre
Standard status
Pending
APN
30-79-09-015-0310
Size
2,230 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
PALMLAND HOMES SO #5 PB 89-48 LOT 3 BLK 15 LOT SIZE 75.000 X 100 OR 20730-4279 102002 1 COC 23266-3740 04 2005 1
Tax Annual Amount
6322
Legal Description
PALMLAND HOMES SO #5 PB 89-48 LOT 3 BLK 15 LOT SIZE 75.000 X 100 OR 20730-4279 102002 1 COC 23266-3740 04 2005 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Flooring type
Tile
Building materials
Wood Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Prestige Properties Internatio · Realty World
(786) 605-5550
Listed By:
Jacqueline Diaz · License #3168754
(305) 794-1798
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 29 at 7:06PM
MLS# A11837142
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 2,230-square-foot quadplex was built in 1970 and includes six bedrooms and four bathrooms. The property has wood siding, tile flooring, a shingle roof, central heating, central air, and ceiling fans. Impact windows are installed, and the roof is four years old; the air-conditioning system is three years old.
The property is located at 14923 SW 302nd Ter in Homestead, Florida, within Miami-Dade County. Parking includes six on-site spaces plus two additional street parking spots. Public water and public sewer serve the property, and cable service is available. The property is identified as a grandfathered multifamily income-producing asset.
The property is located at 14923 SW 302nd Ter in Homestead, Florida, within Miami-Dade County. Parking includes six on-site spaces plus two additional street parking spots. Public water and public sewer serve the property, and cable service is available. The property is identified as a grandfathered multifamily income-producing asset.
Key Highlights
- 2,230‑square‑foot quadplex with six bedrooms and four bathrooms
- Six on‑site parking spaces plus two additional street parking spots
- Impact windows and a roof that is four years old
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
$37,174
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
5.31%
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%
$743,480
$743.5K
Cap Rate 7%
$531,057
$531.1K
Cap Rate 9%
$413,044
$413.0K
Market Conditions
NOI Build-Up for 2,230 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
$56.2K $25.20/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$53.1K $23.81/SF
− OpEx
−$15.9K −$7.14/SF
NOI
$37.2K $16.67/SF
Area
Miami-Dade County, 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%
$743,480
Cap Rate 7%
$531,057
Cap Rate 9%
$413,044
Alternative Uses
Best Use
Multifamily LT 5
$531.1K
$464.7K – $619.6K
NOI $37,174 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$489.9K
$428.7K – $571.6K
NOI $34,296 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$1.13M
$990.0K – $1.32M
NOI $79,196 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 33033, FL
66,871
Population
21,426
Households
3.1
Avg Household Size
34
Median Age
23%
College-Educated
79%
High-School Grad
22.3 sq mi
ZIP Area
2,999
Density / Sq Mi
$66,662
Median Household Income
$37,018
Median Earnings
$1,648
Median Rent
$364,700
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?
Quadplex - Grandfathered multifamily property with central air, tile flooring, and public water and sewer service.
Where is this quadplex located?
The property is located at 14923 SW 302nd Ter Homestead, FL.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 2,230‑square‑foot quadplex with six bedrooms and four bathrooms; Six on‑site parking spaces plus two additional street parking spots; Impact windows and a roof that is four years old
