Two-Unit Duplex
New
For Sale
$550,000
1021 NW 28th St, Miami, FL 33127
Residential Income, Miami, FL
Property Size1,584 SF
Lot Size0.14 Acres
Price / SF$347.22
Days on Market4
Property Features for 1021 NW 28th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Subdivision
SANTA CLARA SUB
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-26-036-1940
Size
1,584 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SANTA CLARA SUB PB 6-110 LOT 28 LESS S5FT BLK 10 LOT SIZE 43.950 X 140 OR 19850-4993 08 2001 4
Tax Annual Amount
7644
Legal Description
SANTA CLARA SUB PB 6-110 LOT 28 LESS S5FT BLK 10 LOT SIZE 43.950 X 140 OR 19850-4993 08 2001 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1947
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Marilina Apfelbaum · License #0662372
(786) 287-3633
Added: Aug 25
Last Checked: Aug 28 at 3:06PM
MLS# A12077249
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 two-unit duplex contains four bedrooms and two bathrooms within approximately 1,584 square feet of living area. Built in 1947, the block-construction property features ceramic tile flooring, central heating, central air conditioning, cable availability, and public sewer service. The improvements sit on a 6,153-square-foot lot.
The property is located in Miami-Dade County near Allapattah, with surrounding development, employment, dining, shopping, and major transportation corridors identified in the area. T3-O Suburban zoning and established duplex use provide the stated land-use framework for the property.
The property is located in Miami-Dade County near Allapattah, with surrounding development, employment, dining, shopping, and major transportation corridors identified in the area. T3-O Suburban zoning and established duplex use provide the stated land-use framework for the property.
Key Highlights
- Two living units with 4 bedrooms and 2 bathrooms
- Approximately 1,584 SF of living area on a 6,153 SF lot
- T3‑O Suburban zoning with established duplex use
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
$31,768
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
5.78%
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%
$635,360
$635.4K
Cap Rate 7%
$453,829
$453.8K
Cap Rate 9%
$352,978
$353.0K
Market Conditions
NOI Build-Up for 1,584 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
$48.5K $30.60/SF
− Vacancy
−$3.1K −$1.95/SF
EGI
$45.4K $28.65/SF
− OpEx
−$13.6K −$8.60/SF
NOI
$31.8K $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%
$635,360
Cap Rate 7%
$453,829
Cap Rate 9%
$352,978
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,768 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$418.0K
$365.8K – $487.7K
NOI $29,262 @ 7.0% cap · market cap 5.32%
Theoretical Best
Specialty Retail
$1.07M
$935.6K – $1.25M
NOI $74,845 @ 7.0% cap · market cap 13.61%
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
2,478
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
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 - Block-construction duplex with established duplex use and T3-O Suburban zoning.
Where is this duplex located?
The property is located at 1021 NW 28th St Miami, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two living units with 4 bedrooms and 2 bathrooms; Approximately 1,584 SF of living area on a 6,153 SF lot; T3‑O Suburban zoning with established duplex use
