Remodeled Duplex with Detached
New
For Sale
$770,000
7239 NW Third St, Miami, FL 33126
Residential Income, Miami, FL
Property Size1,480 SF
Price / SF$520.27
Days on Market2
Property Features for 7239 NW Third St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
8900
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2
Parking
6
Exterior features
Fence, Fruit Trees
Fencing
Fenced
Subdivision
WINONA PARK 1ST ADDN
Lot features
< 1/4 Acre
Standard status
Active
APN
00-40-00-000-0001
Size
1,480 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
2 54 40 WINONA PARK 1ST ADDN PB 17-49 LOT 17 BLK 17 LOT SIZE 50.000 X 125 OR 18074-2539 0498 1
Tax Annual Amount
7403
Legal Description
2 54 40 WINONA PARK 1ST ADDN PB 17-49 LOT 17 BLK 17 LOT SIZE 50.000 X 125 OR 18074-2539 0498 1
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1955
Floors in Building
1
Flooring type
Tile, Vinyl
Building materials
Block
Roof type
Flat, Tile, Shingle
Listing Agency:
Rejoice Realty Group, Inc.
(305) 207-5777
Listed By:
Danny Crespo · License #3098053
(786) 300-9709
Added: Aug 21
Last Checked: Aug 22 at 6:06PM
MLS# A12075520
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 property contains 1,480 square feet of living area across two separate structures. The primary residence includes three bedrooms and two bathrooms, while the detached dwelling offers one bedroom and one bathroom. Both buildings have been remodeled with updated roofing, air-conditioning systems, water heaters, PVC plumbing, electrical systems, and contemporary interior finishes. Construction is block, with tile and vinyl flooring and central electric air conditioning.
The fenced lot includes fruit trees and space used for parking or outdoor activities. Public water and septic service are present, with cable availability. Built in 1955, the property is located at 7239 NW Third St in Miami, near major highways, Miami International Airport, shopping, dining, schools, and entertainment.
The fenced lot includes fruit trees and space used for parking or outdoor activities. Public water and septic service are present, with cable availability. Built in 1955, the property is located at 7239 NW Third St in Miami, near major highways, Miami International Airport, shopping, dining, schools, and entertainment.
Key Highlights
- 1,480 SF of living area across two separate structures
- Main residence includes 3 bedrooms and 2 bathrooms
- Detached unit provides 1 bedroom and 1 bathroom
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
$29,682
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
3.85%
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%
$593,640
$593.6K
Cap Rate 7%
$424,029
$424.0K
Cap Rate 9%
$329,800
$329.8K
Market Conditions
NOI Build-Up for 1,480 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
$45.3K $30.60/SF
− Vacancy
−$2.9K −$1.95/SF
EGI
$42.4K $28.65/SF
− OpEx
−$12.7K −$8.60/SF
NOI
$29.7K $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%
$593,640
Cap Rate 7%
$424,029
Cap Rate 9%
$329,800
Alternative Uses
Best Use
Multifamily LT 5
$424.0K
$371.0K – $494.7K
NOI $29,682 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$390.6K
$341.8K – $455.7K
NOI $27,341 @ 7.0% cap · market cap 3.55%
Theoretical Best
Specialty Retail
$999.0K
$874.1K – $1.17M
NOI $69,931 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 33126, FL
48,751
Population
19,725
Households
2.5
Avg Household Size
44
Median Age
28%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
9,028
Density / Sq Mi
$55,722
Median Household Income
$32,607
Median Earnings
$1,651
Median Rent
$299,800
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 separate structures support residential use with supplemental rental income potential.
Where is this duplex located?
The property is located at 7239 NW Third St Miami, FL.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: 1,480 SF of living area across two separate structures; Main residence includes 3 bedrooms and 2 bathrooms; Detached unit provides 1 bedroom and 1 bathroom
