Duplex Income Property
For Sale
$697,000
1128 Northwest 101st Street, Miami, FL 33150
Two-unit duplex featuring a 3-bedroom/2-bath unit and a 2-bedroom/1-bath unit on a spacious lot.
Property Size1,552 SF
Price / SF$449.10
Days on Market207
Property Features for 1128 Northwest 101st Street
General Information
Standard status
Active
Size
1,552 SF
Property subtype
Multi-Family Income / Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,740
Building Details
Year Built
1957
Listing Agency:
Canvas Real Estate
(954) 332-7121
Listed By:
Maria Barrera · License #3353031
(954) 332-7121
Source:
Compass
Added: Feb 2
Changed: Aug 24
Last Checked: Aug 26 at 1:41PM
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 Canvas Real Estate
Investment Insights
Based on property information with market context.
This duplex offers two separate residential units: one 3-bedroom/2-bath unit and one 2-bedroom/1-bath unit. The property sits on a spacious lot and totals approximately 1,696 square feet, providing a straightforward two-residence income setup.
The property is located at 1128 NW 101st St in Miami, Florida, with easy access to major roads, shopping, and public transportation. The seller notes the site offers strong rental potential and long-term appreciation.
For sale as a multifamily/residential income property, the duplex provides a clear unit mix for prospective owners evaluating a two-unit investment structure.
The property is located at 1128 NW 101st St in Miami, Florida, with easy access to major roads, shopping, and public transportation. The seller notes the site offers strong rental potential and long-term appreciation.
For sale as a multifamily/residential income property, the duplex provides a clear unit mix for prospective owners evaluating a two-unit investment structure.
Key Highlights
- Duplex built in 1957 with two rental units: one 3‑bedroom/2‑bath and one 2‑bedroom/1‑bath
- Two‑unit layout provides income‑focused ownership with separate unit bedroom and bathroom counts
- Spacious lot associated with the property and described as having rental potential
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
$31,126
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
4.47%
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%
$622,520
$622.5K
Cap Rate 7%
$444,657
$444.7K
Cap Rate 9%
$345,844
$345.8K
Market Conditions
NOI Build-Up for 1,552 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
$47.5K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$44.5K $28.65/SF
− OpEx
−$13.3K −$8.60/SF
NOI
$31.1K $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%
$622,520
Cap Rate 7%
$444,657
Cap Rate 9%
$345,844
Alternative Uses
Best Use
Multifamily LT 5
$444.7K
$389.1K – $518.8K
NOI $31,126 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$409.6K
$358.4K – $477.9K
NOI $28,671 @ 7.0% cap · market cap 4.11%
Theoretical Best
Specialty Retail
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
994
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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-unit duplex featuring a 3-bedroom/2-bath unit and a 2-bedroom/1-bath unit on a spacious lot.
Where is this duplex located?
The property is located at 1128 Northwest 101st Street Miami, FL.
What is the asking price?
The asking price for this property is $697,000.
What are key features of this property?
This property features: Duplex built in 1957 with two rental units: one 3‑bedroom/2‑bath and one 2‑bedroom/1‑bath; Two‑unit layout provides income‑focused ownership with separate unit bedroom and bathroom counts; Spacious lot associated with the property and described as having rental potential
