Block Duplex with Updated
For Sale
$482,900
Pending
370 NE 55th St, Miami, FL 33137
MULTI_FAMILY - Miami, FL
Property Size1,784 SF
Days on Market29
Property Features for 370 NE 55th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
6107
Subdivision
BONNA BELLA PLACE
Lot features
< 1/4 Acre
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Pending
APN
01-32-18-012-0170
Size
1,784 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BONNA BELLA PLACE PB 6-175 LOT 21 LOT SIZE 50.000 X 95 OR 20510-2971 06 2002 1 COC 23553-1100 06 2005 1
Tax Annual Amount
8195
Legal Description
BONNA BELLA PLACE PB 6-175 LOT 21 LOT SIZE 50.000 X 95 OR 20510-2971 06 2002 1 COC 23553-1100 06 2005 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1954
Floors in Building
1
Building materials
Block
Roof type
Shingle
Listing Agency:
Genstone Realty
(305) 974-1801
Listed By:
Veronica Crego-Flores · License #3442761
(305) 974-1801
Added: Jul 16
Changed: Aug 3
Last Checked: Aug 13 at 4:06AM
MLS# A12044490
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 block duplex includes two separate units, each with two bedrooms and one bathroom. Both units feature updated kitchens and bathrooms. The property is being sold as-is.
Built in 1954, the duplex is served by a shingle roof and uses a wall furnace for heating. Cooling is provided through wall/window units and window units. Cable is available, and the home is connected to public sewer.
Buyers should plan to conduct their own inspections and due diligence. The buyer will be responsible for assuming and resolving an existing code violation related to unpermitted work. The property totals 1,784 square feet of building area.
Built in 1954, the duplex is served by a shingle roof and uses a wall furnace for heating. Cooling is provided through wall/window units and window units. Cable is available, and the home is connected to public sewer.
Buyers should plan to conduct their own inspections and due diligence. The buyer will be responsible for assuming and resolving an existing code violation related to unpermitted work. The property totals 1,784 square feet of building area.
Key Highlights
- Two 2‑bedroom, 1‑bath units with updated kitchens and bathrooms
- 1,784 square feet duplex building area
- Block construction with shingle roof
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
$35,779
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
7.41%
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%
$715,580
$715.6K
Cap Rate 7%
$511,129
$511.1K
Cap Rate 9%
$397,544
$397.5K
Market Conditions
NOI Build-Up for 1,784 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
$54.6K $30.60/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$51.1K $28.65/SF
− OpEx
−$15.3K −$8.60/SF
NOI
$35.8K $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%
$715,580
Cap Rate 7%
$511,129
Cap Rate 9%
$397,544
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.3K
NOI $35,779 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$470.8K
$412.0K – $549.3K
NOI $32,957 @ 7.0% cap · market cap 6.82%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,295 @ 7.0% cap · market cap 17.46%
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
1,970
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
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 - Block duplex with two updated 2-bedroom, 1-bath units, cable available, and public sewer, sold as-is.
Where is this duplex located?
The property is located at 370 NE 55th St Miami, FL.
What is the asking price?
The asking price for this property is $482,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units with updated kitchens and bathrooms; 1,784 square feet duplex building area; Block construction with shingle roof
