Upgraded Corner Duplex
1097 Northwest 38th Street Miami, FL 33127
For Sale
$660,000
Pending
Upgraded corner duplex unit with stainless appliances, washer/dryer hook-up, new roof, and separate water and electric meters.
Property Size1,482 SF
Days on Market19
Property Features for 1097 Northwest 38th Street
General Information
- Standard status
- Pending
- Size
- 1,482 SF
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1976
Listing Agency:
Sellstate Powerhouse Real Estate Group
(305) 281-1115
Listed By:
Margend Palacios PA · License #3022283
(305) 281-1115
Source:
Compass
Added: Jul 6
Changed: Jul 21
Last Checked: Jul 23 at 10:43AM
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 Sellstate Powerhouse Real Estate Group
Investment Insights
Based on property information with market context.
This upgraded corner unit is part of a duplex and includes stainless steel appliances and washer/dryer hook-up. Improvements reported with the unit include a new roof and separate meters for water and electric.
The property is positioned as a corner unit and is described as being close to UM Jackson, Wynwood, Downtown, Brickell, and the beaches. The remarks also note walking distance to a metro rail and bus station for commuting convenience.
For buyers evaluating residential income options, the separate utility metering is a practical feature, supported by the listing description, along with the in-unit appliance and laundry hook-up upgrades.
The property is positioned as a corner unit and is described as being close to UM Jackson, Wynwood, Downtown, Brickell, and the beaches. The remarks also note walking distance to a metro rail and bus station for commuting convenience.
For buyers evaluating residential income options, the separate utility metering is a practical feature, supported by the listing description, along with the in-unit appliance and laundry hook-up upgrades.
Key Highlights
- Upgraded corner duplex unit with stainless steel appliances
- Washer/dryer hook‑up in unit
- New roof
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.3k | $30.60 |
| − Vacancy | −$2.9k | −$1.95 |
| EGI | $42.5k | $28.65 |
| − OpEx | −$12.7k | −$8.60 |
| NOI | $29.7k | $20.06 |
1,482 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$424.6K
$371.5K – $495.4K
NOI $29,722 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$391.1K
$342.2K – $456.3K
NOI $27,378 @ 7.0% cap · market cap 4.15%
Theoretical Best
Specialty Retail
$1.00M
$875.3K – $1.17M
NOI $70,025 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Upgraded corner duplex unit with stainless appliances, washer/dryer hook-up, new roof, and separate water and electric meters.
Where is this duplex located?
The property is located at 1097 Northwest 38th Street Miami, FL.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Upgraded corner duplex unit with stainless steel appliances; Washer/dryer hook‑up in unit; New roof
