Duplex Income
For Sale
$717,750
Pending
1022 NW 22nd Place, Miami, FL 33125
Two separate 2-bedroom, 1-bath units on a spacious lot, tenant occupied, offered for sale.
Property Size1,482 SF
Days on Market99
Property Features for 1022 NW 22nd Place
General Information
Standard status
Pending
Size
1,482 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,229
Building Details
Building Size
1,482 SF
Year Built
1961
Tenancy
Multi
Listing Agency:
Madison Allied LLC
Listed By:
Sairan Taizhumiyeva Shepard · License #3471008
(305) 930-4671
Source:
Silverleafrealtygroup
Added: Jun 3
Changed: Sep 8
Last Checked: Sep 8 at 12:07PM
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 Madison Allied LLC
Investment Insights
Based on property information with market context.
This income-producing duplex features two separate 2-bedroom, 1-bath units. The property is situated on a spacious lot and is currently tenant occupied.
The address is 1022 NW 22nd Pl, Miami, FL 33125, with convenience to major highways. The public remarks also note proximity to Miami International Airport, shopping, dining, schools, and public transportation, as well as easy access to Midtown Miami, Wynwood, and Downtown Miami.
Showings are by appointment only, and tenants should not be disturbed.
The address is 1022 NW 22nd Pl, Miami, FL 33125, with convenience to major highways. The public remarks also note proximity to Miami International Airport, shopping, dining, schools, and public transportation, as well as easy access to Midtown Miami, Wynwood, and Downtown Miami.
Showings are by appointment only, and tenants should not be disturbed.
Key Highlights
- Income‑producing duplex built in 1961 with two separate 2‑bedroom, 1‑bath units
- Spacious lot for added outdoor space
- Tenant occupied—showings by appointment only; please do not disturb tenants
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
$29,722
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
4.14%
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%
$594,440
$594.4K
Cap Rate 7%
$424,600
$424.6K
Cap Rate 9%
$330,244
$330.2K
Market Conditions
NOI Build-Up for 1,482 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
$42.5K $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%
$594,440
Cap Rate 7%
$424,600
Cap Rate 9%
$330,244
Alternative Uses
Best Use
Multifamily LT 5
$424.6K
$371.5K – $495.4K
NOI $29,722 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$391.1K
$342.2K – $456.3K
NOI $27,378 @ 7.0% cap · market cap 3.81%
Theoretical Best
Specialty Retail
$1.00M
$875.3K – $1.17M
NOI $70,025 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
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 2-bedroom, 1-bath units on a spacious lot, tenant occupied, offered for sale.
Where is this duplex located?
The property is located at 1022 NW 22nd Place Miami, FL.
What is the asking price?
The asking price for this property is $717,750.
What are key features of this property?
This property features: Income‑producing duplex built in 1961 with two separate 2‑bedroom, 1‑bath units; Spacious lot for added outdoor space; Tenant occupied—showings by appointment only; please do not disturb tenants
