Two-Unit Duplex Near
For Sale
$895,000
1126 Nw 3rd St, Miami, FL 33130
Newer, well-maintained income property with convenient access to public transportation and nearby employment centers.
Property Size2,881 SF
Price / SF$310.66
Days on Market144
Property Features for 1126 Nw 3rd St
General Information
Standard status
Active
Size
2,881 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,700
Listing Agency:
Ronald N Sadaka R.E Broker
(561) 252-0432
Listed By:
Ronald Sadaka · License #0267577
(561) 252-0432
Source:
Exprealty
Added: Mar 26
Changed: Aug 14
Last Checked: Aug 16 at 12:12PM
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 Ronald N Sadaka R.E Broker
Investment Insights
Based on property information with market context.
Located at 1126 NW 3rd St in Miami, this newer duplex contains two three-bedroom, two-bathroom residences totaling 2,881 square feet. The property has been maintained in very good condition and offers a straightforward two-unit residential income configuration.
The duplex is in Riverside’s Little Havana area, within walking distance of Marlins Stadium and public transit, with employment hubs also nearby. Zoning permits higher-density redevelopment within a transit zone where parking is not required, adding flexibility for future planning.
The duplex is in Riverside’s Little Havana area, within walking distance of Marlins Stadium and public transit, with employment hubs also nearby. Zoning permits higher-density redevelopment within a transit zone where parking is not required, adding flexibility for future planning.
Key Highlights
- Two three‑bedroom, two‑bathroom units
- 2,881‑square‑foot duplex
- Newer construction maintained in very good condition
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
$57,780
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
6.46%
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%
$1,155,600
$1.2M
Cap Rate 7%
$825,429
$825.4K
Cap Rate 9%
$642,000
$642.0K
Market Conditions
NOI Build-Up for 2,881 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
$88.2K $30.60/SF
− Vacancy
−$5.6K −$1.95/SF
EGI
$82.5K $28.65/SF
− OpEx
−$24.8K −$8.60/SF
NOI
$57.8K $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%
$1,155,600
Cap Rate 7%
$825,429
Cap Rate 9%
$642,000
Alternative Uses
Best Use
Multifamily LT 5
$825.4K
$722.3K – $963.0K
NOI $57,780 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$760.3K
$665.3K – $887.0K
NOI $53,222 @ 7.0% cap · market cap 5.95%
Theoretical Best
Specialty Retail
$1.94M
$1.70M – $2.27M
NOI $136,129 @ 7.0% cap · market cap 15.21%
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
12,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
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 - Newer, well-maintained income property with convenient access to public transportation and nearby employment centers.
Where is this duplex located?
The property is located at 1126 Nw 3rd St Miami, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Two three‑bedroom, two‑bathroom units; 2,881‑square‑foot duplex; Newer construction maintained in very good condition
