Duplex with Detached
For Sale
$519,900
North Miami, FL 33161, North Miami, FL 33161
Residential Income, North Miami, FL
Property Size1,426 SF
Lot Size0.19 Acres
Price / SF$364.59
Days on Market47
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
3800
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 1
Parking
4
Patio and Porch features
Porch
Exterior features
Enclosed Porch, Shed
Subdivision
IRONS MANOR HIGH PINE ADD
Lot features
< 1/4 Acre
Directions
Exit East on to NW 135th Street from I-95. Proceed East until turning North onto NE 6th Ave. The property will be to your right, second house from the intersection, facing a vacant lot across the street.
Standard status
Active
APN
06-22-19-007-0320
Size
1,426 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
IRONS MANOR HIGH PINE ADD SEC A PB 23-80 S15FT OF LOT 13 ALL 14-15 & N15FT OF LOT 16 BLK 51 LOT SIZE 8400 SQUARE FEET OR 17682-2588 0697 1
Tax Annual Amount
7208
Legal Description
IRONS MANOR HIGH PINE ADD SEC A PB 23-80 S15FT OF LOT 13 ALL 14-15 & N15FT OF LOT 16 BLK 51 LOT SIZE 8400 SQUARE FEET OR 17682-2588 0697 1
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central, Wall Furnace
Cooling system
Window Unit(s), Central Air, Wall/Window Unit(s)
Amenities
air-conditioned detached storage shed
Building Details
Year built
1948
Floors in Building
1
Flooring type
Tile, Hardwood, Wood
Building materials
Frame
Roof type
Shingle
Listing Agency:
Norka Realty Inc
(305) 822-7474
Listed By:
Craig Rittenhouse · License #3167066
(786) 554-1222
Added: Jul 18
Changed: Aug 26
Last Checked: Sep 2 at 2:06AM
MLS# A11843970
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 two residential units, each configured with two bedrooms and one bathroom. The property includes 1,426 square feet of building area on an 8,400-square-foot lot, along with an enclosed porch and a detached storage shed with air conditioning. Frame construction, a shingle roof, tile and wood flooring, and a combination of central and wall-based heating and cooling serve the improvements. The home was built in 1948.
Located in North Miami, the property provides access to major highways, nearby Arch Creek Elementary, and Miami Beach. Cable service is available, and the property is served by a septic tank.
Located in North Miami, the property provides access to major highways, nearby Arch Creek Elementary, and Miami Beach. Cable service is available, and the property is served by a septic tank.
Key Highlights
- Two‑unit duplex with 1,426 square feet of building area
- Each unit includes 2 bedrooms and 1 bathroom
- Situated on an 8,400‑square‑foot lot
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
$23,771
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
4.57%
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%
$475,420
$475.4K
Cap Rate 7%
$339,586
$339.6K
Cap Rate 9%
$264,122
$264.1K
Market Conditions
NOI Build-Up for 1,426 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
$35.9K $25.20/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$34.0K $23.81/SF
− OpEx
−$10.2K −$7.14/SF
NOI
$23.8K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$475,420
Cap Rate 7%
$339,586
Cap Rate 9%
$264,122
Alternative Uses
Best Use
Multifamily LT 5
$339.6K
$297.1K – $396.2K
NOI $23,771 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$313.3K
$274.1K – $365.5K
NOI $21,931 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$723.5K
$633.0K – $844.1K
NOI $50,643 @ 7.0% cap · market cap 9.74%
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
840
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
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 residential units provide two bedrooms and one bathroom each, with an air-conditioned detached storage shed.
Where is this duplex located?
The property is located at North Miami, FL.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,426 square feet of building area; Each unit includes 2 bedrooms and 1 bathroom; Situated on an 8,400‑square‑foot lot
