Duplex with Oversized
New
For Sale
$1,150,000
1120 SW 12th Street, Miami, FL 33129
Two residential units include updated finishes, private outdoor areas, and covered vehicle parking.
Property Size3,624 SF
Lot Size0.20 Acres
Price / SF$348.06
Days on Market3
Property Features for 1120 SW 12th Street
General Information
Standard status
Active
Size
3,624 SF
Total Parking Spaces
1
Lot size
0.20 Acres
Property subtype
Residential Income
Zoning
5700
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,743
Amenities
covered rear patio
Building Details
Building Size
3,624 SF
Year Built
1941
Stories
1
Listing Agency:
Sterling One Realty, Inc.
(305) 775-9186
Listed By:
William Alvarez · License #A12069429
(305) 775-9186
Source:
Laerrealty
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 23 at 2:54AM
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 Sterling One Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex includes 3,304 square feet of residential space on an 8,750-square-foot lot, with two distinct living units. The front residence is a renovated two-bedroom, one-bath bungalow featuring an open living and dining area, an updated kitchen with white shaker cabinets and granite counters, a tiled glass-enclosed shower, and wood-look flooring. The rear unit provides three bedrooms and two bathrooms.
The fenced and gated property includes a covered carport, paver driveway, mature palm landscaping, and a covered rear patio. Built in 1941, the property is located at 1120 SW 12th Street in Miami, with Downtown Miami, Brickell, and the Miami River minutes away. The two-unit layout supports an owner-occupant arrangement or continued use as a residential income property.
The fenced and gated property includes a covered carport, paver driveway, mature palm landscaping, and a covered rear patio. Built in 1941, the property is located at 1120 SW 12th Street in Miami, with Downtown Miami, Brickell, and the Miami River minutes away. The two-unit layout supports an owner-occupant arrangement or continued use as a residential income property.
Key Highlights
- 3,304 SF duplex on an oversized 8,750 SF lot
- Front unit renovated with 2 bedrooms and 1 bathroom
- Second residence offers a 3‑bedroom, 2‑bathroom layout
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
$66,264
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
5.76%
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%
$1,325,280
$1.3M
Cap Rate 7%
$946,629
$946.6K
Cap Rate 9%
$736,267
$736.3K
Market Conditions
NOI Build-Up for 3,304 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
$101.1K $30.60/SF
− Vacancy
−$6.4K −$1.95/SF
EGI
$94.7K $28.65/SF
− OpEx
−$28.4K −$8.60/SF
NOI
$66.3K $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%
$1,325,280
Cap Rate 7%
$946,629
Cap Rate 9%
$736,267
Alternative Uses
Best Use
Multifamily LT 5
$946.6K
$828.3K – $1.10M
NOI $66,264 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$871.9K
$763.0K – $1.02M
NOI $61,036 @ 7.0% cap · market cap 5.31%
Theoretical Best
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $156,115 @ 7.0% cap · market cap 13.58%
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
2,292
Businesses Nearby
Explore this area
Business Placement
Demographics for 33129, FL
15,218
Population
8,275
Households
1.8
Avg Household Size
44
Median Age
68%
College-Educated
97%
High-School Grad
1.4 sq mi
ZIP Area
10,870
Density / Sq Mi
$102,969
Median Household Income
$54,935
Median Earnings
$2,241
Median Rent
$573,900
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 residential units include updated finishes, private outdoor areas, and covered vehicle parking.
Where is this duplex located?
The property is located at 1120 SW 12th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,304 SF duplex on an oversized 8,750 SF lot; Front unit renovated with 2 bedrooms and 1 bathroom; Second residence offers a 3‑bedroom, 2‑bathroom layout
