Remodeled Duplex in Chenandoah,
For Sale
$1,130,000
1114 SW 13th Ct, Miami, FL 33135
Fully remodeled duplex in Miami's prestigious Chenandoah neighborhood.
Property Size1,928 SF
Days on Market279
Property Features for 1114 SW 13th Ct
General Information
Standard status
Active
Size
1,928 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$13,762
Building Details
Building Size
1,928 SF
Year Built
1916
Stories
1
Listing Agency:
Keller Williams Realty Premier Properties
Listed By:
Alexei Basanta Perez · License #3451281
(786) 828-0775
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 16
Last Checked: Sep 1 at 9:09PM
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 Keller Williams Realty Premier Properties
Investment Insights
Based on property information with market context.
This fully remodeled duplex property is located in the heart of Chenandoah, a prestigious neighborhood in Miami. Situated just two blocks from the historic height street, it is surrounded by restaurants, shops, and cultural spots. The property features a new roof, impact windows, top-of-the-line appliances, modern porcelain floors and tiles, and a new kitchen. It includes space to park several cars and a lot with possibilities. The two units are totally separate, each with its own backyard.
Key Highlights
- Fully remodeled property from top to bottom.
- Located in the prestigious Chenandoah neighborhood of Miami.
- Two separate units, offering investment or rental income 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
$38,667
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
3.42%
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%
$773,340
$773.3K
Cap Rate 7%
$552,386
$552.4K
Cap Rate 9%
$429,633
$429.6K
Market Conditions
NOI Build-Up for 1,928 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
$59.0K $30.60/SF
− Vacancy
−$3.8K −$1.95/SF
EGI
$55.2K $28.65/SF
− OpEx
−$16.6K −$8.60/SF
NOI
$38.7K $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%
$773,340
Cap Rate 7%
$552,386
Cap Rate 9%
$429,633
Alternative Uses
Best Use
Multifamily LT 5
$552.4K
$483.3K – $644.5K
NOI $38,667 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$508.8K
$445.2K – $593.6K
NOI $35,617 @ 7.0% cap · market cap 3.15%
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,099 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,368
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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 - Fully remodeled duplex in Miami's prestigious Chenandoah neighborhood.
Where is this duplex located?
The property is located at 1114 SW 13th Ct Miami, FL.
What is the asking price?
The asking price for this property is $1,130,000.
What are key features of this property?
This property features: Fully remodeled property from top to bottom.; Located in the prestigious Chenandoah neighborhood of Miami.; Two separate units, offering investment or rental income potential.
