Legal Duplex with
For Sale
$499,900
6950 NW 6th Ct, Miami, FL 33150
Residential Income, Miami, FL
Property Size1,316 SF
Price / SF$379.86
Days on Market30
Property Features for 6950 NW 6th Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
3
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2
Parking
2
Subdivision
7TH AVENUE HIGHLANDS
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-13-024-1210
Size
1,316 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
13 53 41 SEVENTH AVE HIGHLANDS PB 14-13 LOT 36 BLK 7 LOT SIZE 40.000 X 103 OR 13270-3266 0487 5
Tax Annual Amount
5907
Legal Description
13 53 41 SEVENTH AVE HIGHLANDS PB 14-13 LOT 36 BLK 7 LOT SIZE 40.000 X 103 OR 13270-3266 0487 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace, Electric (Heating)
Cooling system
Ceiling Fan(s), Electric
Water source
Public
Building Details
Year built
1955
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Premier Realty & Invest. Group
(305) 756-4450
Listed By:
Ronald Henry · License #0662397
(305) 300-9653
Added: Aug 15
Changed: Sep 12
Last Checked: Sep 13 at 10:06PM
MLS# A12071785
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 1,316-square-foot duplex contains two permitted residential units with three bedrooms and two bathrooms in total. Separate carports serve the units, while block construction, tile flooring, and a shingle roof define the existing improvements. Built in 1955, the property includes electric heating, wall-furnace heating, ceiling fans, and electric cooling.
The property is located at 6950 NW 6th Ct in Miami, within Miami-Dade County. Public water and public sewer serve the site, and cable service is available. Its duplex configuration and separate parking structures provide a straightforward residential income property layout.
The property is located at 6950 NW 6th Ct in Miami, within Miami-Dade County. Public water and public sewer serve the site, and cable service is available. Its duplex configuration and separate parking structures provide a straightforward residential income property layout.
Key Highlights
- Two permitted residential units within a legal duplex
- 1,316 square feet with 3 bedrooms and 2 bathrooms
- Separate carports for the units
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
$26,393
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
5.28%
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%
$527,860
$527.9K
Cap Rate 7%
$377,043
$377.0K
Cap Rate 9%
$293,256
$293.3K
Market Conditions
NOI Build-Up for 1,316 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
$40.3K $30.60/SF
− Vacancy
−$2.6K −$1.95/SF
EGI
$37.7K $28.65/SF
− OpEx
−$11.3K −$8.60/SF
NOI
$26.4K $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%
$527,860
Cap Rate 7%
$377,043
Cap Rate 9%
$293,256
Alternative Uses
Best Use
Multifamily LT 5
$377.0K
$329.9K – $439.9K
NOI $26,393 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.2K
NOI $24,311 @ 7.0% cap · market cap 4.86%
Theoretical Best
Specialty Retail
$888.3K
$777.3K – $1.04M
NOI $62,182 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,466
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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-unit residential property with public water and sewer service in Miami.
Where is this duplex located?
The property is located at 6950 NW 6th Ct Miami, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two permitted residential units within a legal duplex; 1,316 square feet with 3 bedrooms and 2 bathrooms; Separate carports for the units
