Remodeled One-Bedroom Income
For Sale
$375,000
1075 93rd St # 207, Bay Harbor Islands, FL 33154
Updated apartment with modern finishes, stainless steel appliances, and impact windows.
Property Size850 SF
Days on Market75
Property Features for 1075 93rd St # 207
General Information
Standard status
Active
Size
850 SF
Total Parking Spaces
1
Property subtype
Dockominium
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,934
Building Details
Building Size
850 SF
Year Built
1967
Listing Agency:
BrokerNation Real Estate
(305) 987-5517
Listed By:
Jose Nino · License #3223191
Source:
Marcelosteinmander
Added: Jun 3
Changed: Aug 16
Last Checked: Aug 16 at 2:17PM
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 BrokerNation Real Estate
Investment Insights
Based on property information with market context.
This residential income property is a remodeled one-bedroom, one-bath apartment in a 1967 building. The interior includes white porcelain flooring, a contemporary kitchen with black cascade quartz countertops, new stainless steel appliances, and an updated bathroom with modern finishes. Impact windows provide added security and energy-efficiency features.
The apartment is located in Bay Harbor Islands near the beach, Bal Harbour Shops, Publix, and high-end dining. Its proximity to a highly rated public school district adds to the surrounding residential appeal. The property is positioned for both personal occupancy and income-producing use, as supported by its residential income classification.
The apartment is located in Bay Harbor Islands near the beach, Bal Harbour Shops, Publix, and high-end dining. Its proximity to a highly rated public school district adds to the surrounding residential appeal. The property is positioned for both personal occupancy and income-producing use, as supported by its residential income classification.
Key Highlights
- Remodeled one‑bedroom, one‑bath apartment
- 1967 building with updated interior finishes
- 36"x12" white porcelain flooring throughout
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
$13,072
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
3.49%
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%
$261,440
$261.4K
Cap Rate 7%
$186,743
$186.7K
Cap Rate 9%
$145,244
$145.2K
Market Conditions
NOI Build-Up for 850 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
$24.9K $29.28/SF
− Vacancy
−$1.1K −$1.32/SF
EGI
$23.8K $27.96/SF
− OpEx
−$10.7K −$12.58/SF
NOI
$13.1K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$261,440
Cap Rate 7%
$186,743
Cap Rate 9%
$145,244
Alternative Uses
Best Use
Apartment 5plus
$186.7K
$163.4K – $217.9K
NOI $13,072 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$431.2K
$377.3K – $503.1K
NOI $30,187 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,968
Businesses Nearby
Explore this area
Business Placement
Demographics for 33154, FL
14,792
Population
10,104
Households
1.5
Avg Household Size
46
Median Age
59%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
7,785
Density / Sq Mi
$87,806
Median Household Income
$53,711
Median Earnings
$2,245
Median Rent
$741,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated apartment with modern finishes, stainless steel appliances, and impact windows.
Where is this residential income property located?
The property is located at 1075 93rd St # 207 Bay Harbor Islands, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Remodeled one‑bedroom, one‑bath apartment; 1967 building with updated interior finishes; 36"x12" white porcelain flooring throughout
