Duplex with New
For Sale
$699,000
5800 NE 3rd Ave, Miami, FL 33137
Residential Income, Miami, FL
Property Size1,540 SF
Price / SF$453.90
Days on Market39
Property Features for 5800 NE 3rd Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4
Parking
4
Patio and Porch features
Patio
Exterior features
Fence, Fruit Trees, Patio
Fencing
Fenced
Subdivision
DIXIE HIGHWAY TRACK
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-13-065-1553
Size
1,540 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
DIXIE HIGHWAY TR PB 5-24 LOT 25 LESS N6FT BLK 10 LOT SIZE 50.000 X 94 OR 9977 929 0378 1 COC 25532-1800 25848-2030 0307 4 COC FINAL JUDGMENT
Tax Annual Amount
8734
Legal Description
DIXIE HIGHWAY TR PB 5-24 LOT 25 LESS N6FT BLK 10 LOT SIZE 50.000 X 94 OR 9977 929 0378 1 COC 25532-1800 25848-2030 0307 4 COC FINAL JUDGMENT
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
washer dryer closet
Building Details
Year built
1957
Floors in Building
1
Flooring type
Laminate, Terrazzo
Building materials
Brick, Block
Roof type
Shingle
Listing Agency:
Douglas Elliman
(305) 677-5000
Listed By:
Joseph Azar · License #3375463
(305) 240-1202
Added: Jul 27
Changed: Sep 2
Last Checked: Sep 3 at 8:06PM
MLS# A12060412
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 1,540-square-foot duplex contains two matching residences, each arranged with two bedrooms and one bathroom. The property includes four parking spaces, with fenced carport parking serving each unit, along with a washer and dryer closet. A new shingle roof, patio, fruit trees, brick and block construction, terrazzo and laminate flooring, and wall or window cooling and heating systems complete the physical improvements.
The property is located at 5800 NE 3rd Ave in Miami, one block from Biscayne Blvd. Morningside Park, Buena Vista, the Design District, Wynwood, Edgewater, Midtown Miami, and Miami Beach are identified as nearby destinations, with Miami Beach approximately a 10–15 minute drive away. Public water and public sewer serve the property, and cable service is available.
The property is located at 5800 NE 3rd Ave in Miami, one block from Biscayne Blvd. Morningside Park, Buena Vista, the Design District, Wynwood, Edgewater, Midtown Miami, and Miami Beach are identified as nearby destinations, with Miami Beach approximately a 10–15 minute drive away. Public water and public sewer serve the property, and cable service is available.
Key Highlights
- Two‑unit duplex with 1,540 square feet of building area
- Both units offer 2 bedrooms and 1 bathroom
- Four parking spaces with fenced carport parking for each unit
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
$30,886
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
4.42%
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%
$617,720
$617.7K
Cap Rate 7%
$441,229
$441.2K
Cap Rate 9%
$343,178
$343.2K
Market Conditions
NOI Build-Up for 1,540 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
$47.1K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$44.1K $28.65/SF
− OpEx
−$13.2K −$8.60/SF
NOI
$30.9K $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%
$617,720
Cap Rate 7%
$441,229
Cap Rate 9%
$343,178
Alternative Uses
Best Use
Multifamily LT 5
$441.2K
$386.1K – $514.8K
NOI $30,886 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$406.4K
$355.6K – $474.2K
NOI $28,449 @ 7.0% cap · market cap 4.07%
Theoretical Best
Specialty Retail
$1.04M
$909.6K – $1.21M
NOI $72,766 @ 7.0% cap · market cap 10.41%
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
2,068
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units each include two bedrooms, one bathroom, and fenced carport parking.
Where is this duplex located?
The property is located at 5800 NE 3rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,540 square feet of building area; Both units offer 2 bedrooms and 1 bathroom; Four parking spaces with fenced carport parking for each unit
