Remodeled Duplex With Separate
For Sale
$1,130,000
1114 SW 13th Ct, Miami, FL 33135
Residential Income, Miami, FL
Property Size1,928 SF
Price / SF$586.10
Days on Market37
Property Features for 1114 SW 13th Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
6
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 6, Bathroom 5
Parking
8
Subdivision
SECOND WESTMORELAND ADDN
Lot features
< 1/4 Acre
Directions
GPS
Standard status
Active
APN
01-41-11-015-0150
Size
1,928 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
2ND WESTMORELAND ADD PB 3-62 LOT 2 BLK 12 LOT SIZE 60 X 130 OR 10531-2192 0879 5
Tax Annual Amount
13762
Legal Description
2ND WESTMORELAND ADD PB 3-62 LOT 2 BLK 12 LOT SIZE 60 X 130 OR 10531-2192 0879 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
1916
Floors in Building
1
Building materials
Pre-Cast Concrete, Frame, Stone, Stucco
Roof type
Shingle
Listing Agency:
Keller Williams Realty Premier Properties
(305) 595-2844
Listed By:
Alexei Basanta Perez · License #3451281
(786) 828-0775
Added: Jul 18
Changed: Aug 23
Last Checked: Aug 23 at 6:06PM
MLS# A11780950
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 1,928-square-foot duplex contains two fully separate units, each with its own backyard. The property has been remodeled throughout with a new roof, impact windows, modern porcelain flooring and tile, updated kitchens, and upgraded appliances. Central heating and central air provide building-wide comfort, while the structure combines pre-cast concrete, frame, stone, and stucco construction.
Built in 1916, the property includes six bedrooms and five bathrooms, along with space to park several cars. Public sewer service and cable availability are in place. The separate layouts and private outdoor areas support flexible owner-occupancy or rental use, subject to applicable requirements.
Built in 1916, the property includes six bedrooms and five bathrooms, along with space to park several cars. Public sewer service and cable availability are in place. The separate layouts and private outdoor areas support flexible owner-occupancy or rental use, subject to applicable requirements.
Key Highlights
- 1,928 SF duplex with two fully separate units
- Each unit has its own backyard
- Remodeled with new roof, impact windows, kitchens, porcelain floors, and tile
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
$38,667
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
3.42%
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%
$773,340
$773.3K
Cap Rate 7%
$552,386
$552.4K
Cap Rate 9%
$429,633
$429.6K
Market Conditions
NOI Build-Up for 1,928 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
$59.0K $30.60/SF
− Vacancy
−$3.8K −$1.95/SF
EGI
$55.2K $28.65/SF
− OpEx
−$16.6K −$8.60/SF
NOI
$38.7K $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%
$773,340
Cap Rate 7%
$552,386
Cap Rate 9%
$429,633
Alternative Uses
Best Use
Multifamily LT 5
$552.4K
$483.3K – $644.5K
NOI $38,667 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$508.8K
$445.2K – $593.6K
NOI $35,617 @ 7.0% cap · market cap 3.15%
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,099 @ 7.0% cap · market cap 8.06%
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
2,368
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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 independent units offer private outdoor areas, updated interiors, and parking for several vehicles.
Where is this duplex located?
The property is located at 1114 SW 13th Ct Miami, FL.
What is the asking price?
The asking price for this property is $1,130,000.
What are key features of this property?
This property features: 1,928 SF duplex with two fully separate units; Each unit has its own backyard; Remodeled with new roof, impact windows, kitchens, porcelain floors, and tile
