Duplex Investment
For Sale
Under Contract
$555,000
1737-1739 NW 47th Ter, Miami, FL 33142
MULTI_FAMILY - Miami, FL
Property Size1,375 SF
Price / SF$403.64
Days on Market38
Property Features for 1737-1739 NW 47th Ter
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
3
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1
Parking
4
Subdivision
17TH AVE MANOR
Lot features
< 1/4 Acre
Standard status
Active Under Contract
APN
01-31-22-014-0440
Size
1,375 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
17TH AVE MANOR PB 18-43 LOT 9 BLK 3 LOT SIZE 44.000 X 109 OR 21227-2626 042003 4
Tax Annual Amount
7236
Legal Description
17TH AVE MANOR PB 18-43 LOT 9 BLK 3 LOT SIZE 44.000 X 109 OR 21227-2626 042003 4
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
1957
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
Iconic Miami Realty
(305) 725-4185
Listed By:
Belmis Montesino · License #3243480
(305) 725-4185
Added: Jul 18
Changed: Aug 13
Last Checked: Aug 24 at 1:06PM
MLS# A11886094
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 for sale at 1737–1739 NW 47th Ter offers two income-producing units. Unit #1 is a 2-bedroom, 1-bath layout with approximately 800 square feet, currently rented for $2,400 per month starting August 2026. The unit is described as leased to a Section 8 tenant. Unit #2 features a 1-bedroom, 1-bath layout with approximately 675 square feet and is rented for $1,750 per month.
Located in Miami, in Miami-Dade County, the property is presented as a straightforward two-unit residential income asset with distinct unit configurations and existing rental income.
Located in Miami, in Miami-Dade County, the property is presented as a straightforward two-unit residential income asset with distinct unit configurations and existing rental income.
Key Highlights
- Duplex built in 1957 with block construction and shingle roof
- Unit #1: 2 bed / 1 bath, 800 SF, currently rented for $2,400 per month starting Aug 2026 to a Section 8 tenant
- Unit #2: 1 bed / 1 bath, 675 SF, rented for $1,750 per month
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
$27,576
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
4.97%
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%
$551,520
$551.5K
Cap Rate 7%
$393,943
$393.9K
Cap Rate 9%
$306,400
$306.4K
Market Conditions
NOI Build-Up for 1,375 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
$42.1K $30.60/SF
− Vacancy
−$2.7K −$1.95/SF
EGI
$39.4K $28.65/SF
− OpEx
−$11.8K −$8.60/SF
NOI
$27.6K $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%
$551,520
Cap Rate 7%
$393,943
Cap Rate 9%
$306,400
Alternative Uses
Best Use
Multifamily LT 5
$393.9K
$344.7K – $459.6K
NOI $27,576 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$362.9K
$317.5K – $423.4K
NOI $25,401 @ 7.0% cap · market cap 4.58%
Theoretical Best
Specialty Retail
$928.1K
$812.1K – $1.08M
NOI $64,969 @ 7.0% cap · market cap 11.71%
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
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex for sale featuring two rental units with separate bedroom and bathroom layouts and ongoing lease terms.
Where is this duplex located?
The property is located at 1737-1739 NW 47th Ter Miami, FL.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Duplex built in 1957 with block construction and shingle roof; Unit #1: 2 bed / 1 bath, 800 SF, currently rented for $2,400 per month starting Aug 2026 to a Section 8 tenant; Unit #2: 1 bed / 1 bath, 675 SF, rented for $1,750 per month
