2-Unit Duplex with Impact
For Sale
$699,000
1010 Burlington Street Opa-Locka, Opa Locka, FL 33054
Income-producing duplex with separately metered utilities, private laundry areas, and month-to-month occupancy in Opa-locka.
Property Size2,188 SF
Days on Market13
Property Features for 1010 Burlington Street Opa-Locka
General Information
Standard status
Active
Size
2,188 SF
Property subtype
Duplex
Occupancy
100%
Financials
Asking Price
$699,000
Gross Income
$52,800
Units
Unit Mix
4BR/2BA, 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,671
Building Details
Building Size
2,188 SF
Year Built
1941
Buildings
1
Listing Agency:
Balistreri Real Estate Inc
(561) 699-7600
Listed By:
Ali J Kazinetz · License #3313169
Source:
Marcelosteinmander
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 24 at 6:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Balistreri Real Estate Inc
Investment Insights
Based on property information with market context.
Built in 1941, this 2,188-square-foot duplex contains two residences with a combined 7 bedrooms and 4 bathrooms. The unit mix includes one 4-bedroom, 2-bath residence and one 3-bedroom, 2-bath residence. Each unit has separate electric and water meters, along with its own laundry area and individual utility connections. A roughly 200-square-foot shed provides additional storage.
The roof was replaced in 12/2022, and the property has impact windows except for two windows on the left side of the duplex. Both residences are occupied under month-to-month leases. The property is located near Miami International Airport, Opa-locka Executive Airport, and major employment centers. A pre-inspection report is available, and the gross rental yield is 7.55%.
The roof was replaced in 12/2022, and the property has impact windows except for two windows on the left side of the duplex. Both residences are occupied under month-to-month leases. The property is located near Miami International Airport, Opa-locka Executive Airport, and major employment centers. A pre-inspection report is available, and the gross rental yield is 7.55%.
Key Highlights
- 2,188‑square‑foot duplex with 2 units and a combined 7BR/4BA
- Unit mix: 4BR/2BA and 3BR/2BA
- Separate electric and water meters 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
$43,882
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
6.28%
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%
$877,640
$877.6K
Cap Rate 7%
$626,886
$626.9K
Cap Rate 9%
$487,578
$487.6K
Market Conditions
NOI Build-Up for 2,188 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
$67.0K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$62.7K $28.65/SF
− OpEx
−$18.8K −$8.60/SF
NOI
$43.9K $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%
$877,640
Cap Rate 7%
$626,886
Cap Rate 9%
$487,578
Alternative Uses
Best Use
Multifamily LT 5
$626.9K
$548.5K – $731.4K
NOI $43,882 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$577.4K
$505.3K – $673.7K
NOI $40,420 @ 7.0% cap · market cap 5.78%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,384 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 33054, FL
30,352
Population
10,263
Households
3
Avg Household Size
37
Median Age
10%
College-Educated
75%
High-School Grad
8.4 sq mi
ZIP Area
3,613
Density / Sq Mi
$42,779
Median Household Income
$31,147
Median Earnings
$1,346
Median Rent
$291,700
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 - Income-producing duplex with separately metered utilities, private laundry areas, and month-to-month occupancy in Opa-locka.
Where is this duplex located?
The property is located at 1010 Burlington Street Opa-Locka Opa Locka, 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: 2,188‑square‑foot duplex with 2 units and a combined 7BR/4BA; Unit mix: 4BR/2BA and 3BR/2BA; Separate electric and water meters for each unit
