Fenced Duplex with Private
New
For Sale
$1,100,000
2419 NW 97th St, Miami, FL 33147
MULTI_FAMILY - Miami, FL
Property Size2,572 SF
Price / SF$427.68
Days on Market2
Property Features for 2419 NW 97th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 5, Bathroom 6, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1
Parking
4
Window features
Blinds
Subdivision
ACME GULFAIR
Lot features
< 1/4 Acre
Standard status
Active
APN
30-31-03-014-2640
Size
2,572 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
ACME GULFAIR PB 40-87 LOT 15 BLK 20 LOT SIZE 80.000 X 105 OR 20798-3782 0902 1 COC 24421-0028 03 2006 1
Tax Annual Amount
5500
Legal Description
ACME GULFAIR PB 40-87 LOT 15 BLK 20 LOT SIZE 80.000 X 105 OR 20798-3782 0902 1 COC 24421-0028 03 2006 1
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
private yard
Building Details
Year built
2024
Floors in Building
1
Flooring type
Tile
Building materials
Block
Listing Agency:
Keller Williams Capital Realty · Keller Williams Realty
(305) 662-7325
Listed By:
Thomas Bichi · License #3261222
(305) 608-6357
Added: Aug 14
Last Checked: Aug 15 at 1:06PM
MLS# A12071426
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 contains 2572 square feet arranged as two residences, with each side offering 3 bedrooms and 2 bathrooms. Interior features include 10-foot ceilings, impact-rated windows and doors, built-in closets, and porcelain tile flooring. The structure is block construction with central heating and central air. A large private yard is enclosed by fencing, and the property has no HOA.
Located at 2419 NW 97th St in Miami, the property is served by public water and a septic tank. The two-unit configuration provides separate living areas within one fully fenced parcel, with each residence offering the same bedroom and bathroom count.
Located at 2419 NW 97th St in Miami, the property is served by public water and a septic tank. The two-unit configuration provides separate living areas within one fully fenced parcel, with each residence offering the same bedroom and bathroom count.
Key Highlights
- 2,572‑square‑foot duplex with 3 bedrooms and 2 bathrooms on each side
- 10‑foot ceilings throughout the residences
- Impact windows and doors, built‑in closets, and porcelain tile flooring
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
$51,583
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
4.69%
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%
$1,031,660
$1.0M
Cap Rate 7%
$736,900
$736.9K
Cap Rate 9%
$573,144
$573.1K
Market Conditions
NOI Build-Up for 2,572 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
$78.7K $30.60/SF
− Vacancy
−$5.0K −$1.95/SF
EGI
$73.7K $28.65/SF
− OpEx
−$22.1K −$8.60/SF
NOI
$51.6K $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%
$1,031,660
Cap Rate 7%
$736,900
Cap Rate 9%
$573,144
Alternative Uses
Best Use
Multifamily LT 5
$736.9K
$644.8K – $859.7K
NOI $51,583 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$678.8K
$593.9K – $791.9K
NOI $47,514 @ 7.0% cap · market cap 4.32%
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,528 @ 7.0% cap · market cap 11.05%
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
673
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 matching units offer three bedrooms and two bathrooms apiece, with private outdoor space and no HOA.
Where is this duplex located?
The property is located at 2419 NW 97th St Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 2,572‑square‑foot duplex with 3 bedrooms and 2 bathrooms on each side; 10‑foot ceilings throughout the residences; Impact windows and doors, built‑in closets, and porcelain tile flooring
