Fully Rented Duplex
For Sale
$619,900
2345 NW 65th St, Miami, FL 33147
Residential Income, Miami, FL
Property Size1,808 SF
Lot Size0.19 Acres
Price / SF$342.87
Days on Market31
Property Features for 2345 NW 65th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
5
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 2
Parking
4
Subdivision
22ND AVE HEIGHTS
Lot features
< 1/4 Acre
Standard status
Active
APN
30-31-15-018-0530
Size
1,808 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
15 53 41 22ND AVE HTS PB 45-3 LOT 15 BLK 4 LOT SIZE 60.000 X 136
Tax Annual Amount
8723
Legal Description
15 53 41 22ND AVE HTS PB 45-3 LOT 15 BLK 4 LOT SIZE 60.000 X 136
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1967
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Roylan Valdivia · License #3224891
(786) 752-1069
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 29 at 9:06PM
MLS# A12019145
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 includes two separate residences: a 3-bedroom, 1-bath unit and a 2-bedroom, 1-bath unit. The property provides 1,808 square feet of living area on an 8,160-square-foot lot and is currently fully rented. Separate electric meters serve each unit.
Built in 1967, the property has block construction, tile flooring, central heating, central air conditioning, and a shingle roof. Public water and public sewer serve the site, with cable availability also reported. The property is located at 2345 NW 65th St in Miami, Florida 33147.
Built in 1967, the property has block construction, tile flooring, central heating, central air conditioning, and a shingle roof. Public water and public sewer serve the site, with cable availability also reported. The property is located at 2345 NW 65th St in Miami, Florida 33147.
Key Highlights
- Two‑unit duplex with a 3‑bedroom, 1‑bath residence and a 2‑bedroom, 1‑bath residence
- 1,808 square feet of living area on an 8,160‑square‑foot lot
- Fully rented with 2 separate electric meters
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
$36,260
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
5.85%
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%
$725,200
$725.2K
Cap Rate 7%
$518,000
$518.0K
Cap Rate 9%
$402,889
$402.9K
Market Conditions
NOI Build-Up for 1,808 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
$55.3K $30.60/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$51.8K $28.65/SF
− OpEx
−$15.5K −$8.60/SF
NOI
$36.3K $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%
$725,200
Cap Rate 7%
$518,000
Cap Rate 9%
$402,889
Alternative Uses
Best Use
Multifamily LT 5
$518.0K
$453.3K – $604.3K
NOI $36,260 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$477.1K
$417.5K – $556.7K
NOI $33,400 @ 7.0% cap · market cap 5.39%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,429 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
803
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate electric meters, central systems, and tile flooring.
Where is this duplex located?
The property is located at 2345 NW 65th St Miami, FL.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Two‑unit duplex with a 3‑bedroom, 1‑bath residence and a 2‑bedroom, 1‑bath residence; 1,808 square feet of living area on an 8,160‑square‑foot lot; Fully rented with 2 separate electric meters
