New Construction Duplex Investment
For Sale
$798,000
Pending
11997 Southwest 218th Street, Miami, FL 33170
New duplex with high-end finishes and strong income potential.
Property Size2,374 SF
Days on Market209
Property Features for 11997 Southwest 218th Street
General Information
Standard status
Pending
Size
2,374 SF
Property subtype
Residential Income / Duplex
Taxes and HOA fees
Annual Taxes
$11,031
Building Details
Year Built
2024
Listing Agency:
Aldo Realty Group Corp
(786) 932-4435
Listed By:
Guerlyn Machado Darna · License #3592802
(786) 932-4435
Source:
Compass
Added: Jan 27
Changed: Aug 23
Last Checked: Jul 25 at 11:23AM
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 Aldo Realty Group Corp
Investment Insights
Based on property information with market context.
This new construction duplex presents an investment opportunity with income potential and low maintenance. Each unit features 3 bedrooms and 2 full bathrooms, with modern layouts and high-end finishes. The property provides more than 3 parking spaces per unit, a feature intended to enhance rental demand and tenant appeal. The property is suitable for investors or owner-occupants who may choose to live in one unit while renting out the other. Located in a growing area with high rental demand, this duplex is intended as a long-term, income-producing investment. The property size is 2392 square feet.
Key Highlights
- Brand‑new 2024 construction duplex: low maintenance and modern appeal.
- Strong income potential: ideal for investors or owner‑occupants.
- High rental demand location: growing area ensures consistent occupancy.
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
$47,612
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
5.97%
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%
$952,240
$952.2K
Cap Rate 7%
$680,171
$680.2K
Cap Rate 9%
$529,022
$529.0K
Market Conditions
NOI Build-Up for 2,374 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
$72.6K $30.60/SF
− Vacancy
−$4.6K −$1.95/SF
EGI
$68.0K $28.65/SF
− OpEx
−$20.4K −$8.60/SF
NOI
$47.6K $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%
$952,240
Cap Rate 7%
$680,171
Cap Rate 9%
$529,022
Alternative Uses
Best Use
Multifamily LT 5
$680.2K
$595.2K – $793.5K
NOI $47,612 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$626.5K
$548.2K – $730.9K
NOI $43,856 @ 7.0% cap · market cap 5.50%
Theoretical Best
Specialty Retail
$1.60M
$1.40M – $1.87M
NOI $112,173 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Explore this area
Business Placement
Demographics for 33170, FL
14,908
Population
4,839
Households
3.1
Avg Household Size
37
Median Age
22%
College-Educated
79%
High-School Grad
12.4 sq mi
ZIP Area
1,202
Density / Sq Mi
$68,953
Median Household Income
$40,052
Median Earnings
$1,511
Median Rent
$426,200
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 - New duplex with high-end finishes and strong income potential.
Where is this duplex located?
The property is located at 11997 Southwest 218th Street Miami, FL.
What is the asking price?
The asking price for this property is $798,000.
What are key features of this property?
This property features: Brand‑new 2024 construction duplex: low maintenance and modern appeal.; Strong income potential: ideal for investors or owner‑occupants.; High rental demand location: growing area ensures consistent occupancy.
