New Construction
For Sale
$769,900
Pending
1840 NW 63rd St, Miami, FL 33147
Residential Income, Miami, FL
Property Size2,032 SF
Days on Market57
Property Features for 1840 NW 63rd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
5700
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bedroom 6, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 5, Bathroom 1, Bathroom 4
Parking
2
Subdivision
LIBERTY CITY
Lot features
< 1/4 Acre
Standard status
Pending
APN
30-31-15-005-3770
Size
2,032 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LIBERTY CITY PB 7-79 LOT 9 BLK 14 LOT SIZE 3600 SQFT M/L
Tax Annual Amount
2797
Legal Description
LIBERTY CITY PB 7-79 LOT 9 BLK 14 LOT SIZE 3600 SQFT M/L
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
tankless water heater
laundry closet
impact windows
stainless steel appliances
Building Details
Year built
2026
Floors in Building
2
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Keller Williams Eagle Realty · Keller Williams Realty
(305) 757-1700
Listed By:
Ivan Rabinovich · License #3276152
(305) 803-0894
Added: Jul 18
Changed: Sep 11
Last Checked: Sep 12 at 2:06PM
MLS# A12019657
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 at 1840 NW 63rd St comprises 2 units totaling 2,032 square feet. Each residence includes 3 bedrooms, 2 bathrooms, tile flooring, central heating and air conditioning, a tankless water heater, a laundry closet, and stainless steel appliances. Impact windows and block construction are specified, while the property is under construction with a 2026 year built designation.
The property uses public water and public sewer service and has a shingle roof. Each unit includes 2 parking spaces. Short-term rental use is approved, and the address provides access to Brickell, Downtown, Wynwood, and Miami Beach within minutes. The duplex is located in Miami-Dade County, Miami, Florida 33147.
The property uses public water and public sewer service and has a shingle roof. Each unit includes 2 parking spaces. Short-term rental use is approved, and the address provides access to Brickell, Downtown, Wynwood, and Miami Beach within minutes. The duplex is located in Miami-Dade County, Miami, Florida 33147.
Key Highlights
- 2,032‑square‑foot duplex with 2 units
- Each unit offers 3 bedrooms and 2 bathrooms
- Short‑term rental use is approved
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
$40,753
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
5.29%
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%
$815,060
$815.1K
Cap Rate 7%
$582,186
$582.2K
Cap Rate 9%
$452,811
$452.8K
Market Conditions
NOI Build-Up for 2,032 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
$62.2K $30.60/SF
− Vacancy
−$4.0K −$1.95/SF
EGI
$58.2K $28.65/SF
− OpEx
−$17.5K −$8.60/SF
NOI
$40.8K $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%
$815,060
Cap Rate 7%
$582,186
Cap Rate 9%
$452,811
Alternative Uses
Best Use
Multifamily LT 5
$582.2K
$509.4K – $679.2K
NOI $40,753 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$536.3K
$469.2K – $625.6K
NOI $37,538 @ 7.0% cap · market cap 4.88%
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,013 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two contemporary residences offer separate living spaces, private laundry areas, and dedicated parking for each unit.
Where is this duplex located?
The property is located at 1840 NW 63rd St Miami, FL.
What is the asking price?
The asking price for this property is $769,900.
What are key features of this property?
This property features: 2,032‑square‑foot duplex with 2 units; Each unit offers 3 bedrooms and 2 bathrooms; Short‑term rental use is approved
