Duplex With Separate
New
For Sale
$1,280,000
2232 SW 13th St, Miami, FL 33145
Residential Income, Miami, FL
Property Size3,111 SF
Price / SF$411.44
Days on Market3
Property Features for 2232 SW 13th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
5
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 3
Parking
8
Subdivision
BYAN PARK
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-10-014-2490
Size
3,111 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BRYAN PARK PB 5-69 LOT 5 LESS S10FT FOR R/W BLK 13 LOT SIZE 50.000 X 133 OR 12586-4352 0685 1 JOHN BRUCELLARIA &W LENA
Tax Annual Amount
15174
Legal Description
BRYAN PARK PB 5-69 LOT 5 LESS S10FT FOR R/W BLK 13 LOT SIZE 50.000 X 133 OR 12586-4352 0685 1 JOHN BRUCELLARIA &W LENA
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Building Details
Year built
1937
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle, Barrel
Listing Agency:
Delphi Investment Realty
78638801107
Listed By:
Wallys Sueiro · License #3349125
(786) 395-3171
Added: Sep 20
Changed: Sep 22
Last Checked: Sep 22 at 2:06PM
MLS# A12092485
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 3,111-square-foot duplex contains two residences with independent main entrances oriented toward different streets. The larger unit offers a 3/3 layout, en-suite baths and walk-in closets in every bedroom, a spacious kitchen, side patio, separate laundry room, and storage. The second residence includes a 2/1 configuration, kitchen, patio, and washer and dryer. Each unit has a parking area accommodating up to four vehicles.
Built in 1937 with block construction, tile flooring, shingle and barrel roofing, and public sewer service, the property is identified as being in a non-flood zone. Both residences are currently rented. The address is near Calle Ocho, Little Havana, Coral Gables, Brickell, Downtown, Coconut Grove, beaches, Miami International Airport, restaurants, shopping, universities, major roads, and public transit.
Built in 1937 with block construction, tile flooring, shingle and barrel roofing, and public sewer service, the property is identified as being in a non-flood zone. Both residences are currently rented. The address is near Calle Ocho, Little Havana, Coral Gables, Brickell, Downtown, Coconut Grove, beaches, Miami International Airport, restaurants, shopping, universities, major roads, and public transit.
Key Highlights
- 3,111‑square‑foot duplex with 3/3 and 2/1 unit configurations
- Separate main entrances for each residence, facing different streets
- Each unit has parking for up to four vehicles
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
$62,393
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
4.87%
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%
$1,247,860
$1.2M
Cap Rate 7%
$891,329
$891.3K
Cap Rate 9%
$693,256
$693.3K
Market Conditions
NOI Build-Up for 3,111 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
$95.2K $30.60/SF
− Vacancy
−$6.1K −$1.95/SF
EGI
$89.1K $28.65/SF
− OpEx
−$26.7K −$8.60/SF
NOI
$62.4K $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%
$1,247,860
Cap Rate 7%
$891,329
Cap Rate 9%
$693,256
Alternative Uses
Best Use
Multifamily LT 5
$891.3K
$779.9K – $1.04M
NOI $62,393 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$821.0K
$718.4K – $957.9K
NOI $57,471 @ 7.0% cap · market cap 4.49%
Theoretical Best
Specialty Retail
$2.10M
$1.84M – $2.45M
NOI $146,996 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
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 occupied residences offer distinct layouts, private outdoor areas, and dedicated parking without an association.
Where is this duplex located?
The property is located at 2232 SW 13th St Miami, FL.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: 3,111‑square‑foot duplex with 3/3 and 2/1 unit configurations; Separate main entrances for each residence, facing different streets; Each unit has parking for up to four vehicles
