Two-Unit Duplex
For Sale
$590,000
2151 NW 42nd St, Miami, FL 33142
Residential Income, Miami, FL
Property Size1,322 SF
Price / SF$446.29
Days on Market32
Property Features for 2151 NW 42nd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 2
Parking
6
Security features
Security
Exterior features
Storm/Security Shutters
Subdivision
GREEN CLOSE
Lot features
< 1/4 Acre
Standard status
Active
APN
30-31-22-010-0260
Size
1,322 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
22 53 41 GREEN CLOSE PB 12-10 LOT 18 BLK 3 LOT SIZE 50.000 X 111 OR 12508-2339 0585 5
Tax Annual Amount
6192
Legal Description
22 53 41 GREEN CLOSE PB 12-10 LOT 18 BLK 3 LOT SIZE 50.000 X 111 OR 12508-2339 0585 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
1925
Floors in Building
1
Flooring type
Tile
Building materials
Brick, Block, Frame, Stucco
Roof type
Shingle, Flat
Listing Agency:
NB Elite Realty
(844) 444-6237
Listed By:
Jorge Zubizarreta LLC · License #0635656
(786) 294-8697
Added: Aug 15
Changed: Sep 15
Last Checked: Sep 15 at 3:06PM
MLS# A12072020
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 property at 2151 NW 42nd St comprises two rental residences on a single lot. The front residence is configured as a two-bedroom, one-bath unit, while the rear residence includes two bedrooms and two baths. The rear unit requires some repairs and has been occupied by the same tenant for 12 years. The property contains 1,322 square feet and was built in 1925.
Construction includes brick, block, frame, and stucco elements, with tile flooring throughout. Both heating and cooling systems are central and electric. The property has public sewer service, cable availability, shingle and flat roof sections, and storm/security shutters. The sale is subject to a 1031 exchange.
Construction includes brick, block, frame, and stucco elements, with tile flooring throughout. Both heating and cooling systems are central and electric. The property has public sewer service, cable availability, shingle and flat roof sections, and storm/security shutters. The sale is subject to a 1031 exchange.
Key Highlights
- Two rental residences situated on one lot
- Front unit configured as 2/1; rear unit configured as 2/2
- 1,322 square feet; built in 1925
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
$26,513
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
4.49%
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%
$530,260
$530.3K
Cap Rate 7%
$378,757
$378.8K
Cap Rate 9%
$294,589
$294.6K
Market Conditions
NOI Build-Up for 1,322 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
$40.5K $30.60/SF
− Vacancy
−$2.6K −$1.95/SF
EGI
$37.9K $28.65/SF
− OpEx
−$11.4K −$8.60/SF
NOI
$26.5K $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%
$530,260
Cap Rate 7%
$378,757
Cap Rate 9%
$294,589
Alternative Uses
Best Use
Multifamily LT 5
$378.8K
$331.4K – $441.9K
NOI $26,513 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$348.9K
$305.3K – $407.0K
NOI $24,422 @ 7.0% cap · market cap 4.14%
Theoretical Best
Specialty Retail
$892.4K
$780.8K – $1.04M
NOI $62,465 @ 7.0% cap · market cap 10.59%
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
1,298
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
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 rental residences share one parcel with tile flooring, central systems, and public sewer service.
Where is this duplex located?
The property is located at 2151 NW 42nd St Miami, FL.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Two rental residences situated on one lot; Front unit configured as 2/1; rear unit configured as 2/2; 1,322 square feet; built in 1925
