Renovated Duplex With Impact
For Sale
$880,000
11515 NE 12th Ave, Miami, FL 33161
Residential Income, Miami, FL
Property Size2,331 SF
Lot Size0.19 Acres
Price / SF$377.52
Days on Market214
Property Features for 11515 NE 12th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
6
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 6, Bedroom 1
Parking
3
Subdivision
BARBER HOMES
Lot features
< 1/4 Acre
Standard status
Active
APN
30-22-32-045-0020
Size
2,331 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
32 52 42 BARBER HOMES PB 75-61 LOT 2 LOT SIZE 86.000 X 98 OR 11114-1536 0581 1
Tax Annual Amount
12111
Legal Description
32 52 42 BARBER HOMES PB 75-61 LOT 2 LOT SIZE 86.000 X 98 OR 11114-1536 0581 1
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
impact windows
Central A/C
open kitchen with bar
family room
private yard
fruit trees
Building Details
Year built
1960
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Brick, Block
Roof type
Flat, Tile
Listing Agency:
Beachfront Realty Inc
(786) 356-3445
Listed By:
Monica Urrutia Juri · License #3196450
(786) 356-3445
Added: Jan 28
Changed: Aug 29
Last Checked: Aug 30 at 5:06PM
MLS# A11954020
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 duplex contains two separate residences, each configured with three bedrooms and one bathroom. Interior improvements include impact windows, central air conditioning, updated electrical service, ceramic tile flooring, an open kitchen with breakfast bar, and a family room. Each unit also has access to a private yard with mature fruit trees. The property includes a basement that may offer the possibility of conversion into an additional unit, subject to applicable requirements.
The building was constructed in 1960 and uses brick and block construction, flat and tile roofing, electric heating, central cooling, and a septic tank system. Both units are currently leased through December 2026. The property is situated three blocks from Biscayne Park and Miami Shores, with proximity to the Biscayne corridor and Whole Foods.
The building was constructed in 1960 and uses brick and block construction, flat and tile roofing, electric heating, central cooling, and a septic tank system. Both units are currently leased through December 2026. The property is situated three blocks from Biscayne Park and Miami Shores, with proximity to the Biscayne corridor and Whole Foods.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 1 bathroom per residence
- Renovated with impact windows, central A/C, and new electricity
- Open kitchens with bars and separate family rooms
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
$46,749
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
5.31%
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%
$934,980
$935.0K
Cap Rate 7%
$667,843
$667.8K
Cap Rate 9%
$519,433
$519.4K
Market Conditions
NOI Build-Up for 2,331 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
$71.3K $30.60/SF
− Vacancy
−$4.5K −$1.95/SF
EGI
$66.8K $28.65/SF
− OpEx
−$20.0K −$8.60/SF
NOI
$46.7K $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%
$934,980
Cap Rate 7%
$667,843
Cap Rate 9%
$519,433
Alternative Uses
Best Use
Multifamily LT 5
$667.8K
$584.4K – $779.2K
NOI $46,749 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$615.2K
$538.3K – $717.7K
NOI $43,061 @ 7.0% cap · market cap 4.89%
Theoretical Best
Specialty Retail
$1.57M
$1.38M – $1.84M
NOI $110,141 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,783
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
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 leased residences feature three bedrooms, one bath, open kitchens, family rooms, and private yards.
Where is this duplex located?
The property is located at 11515 NE 12th Ave Miami, FL.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 1 bathroom per residence; Renovated with impact windows, central A/C, and new electricity; Open kitchens with bars and separate family rooms
