Single-Story
For Sale
$785,000
12040 SW 215th St, Miami, FL 33177
Residential Income, Miami, FL
Property Size2,400 SF
Price / SF$327.08
Days on Market37
Property Features for 12040 SW 215th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 3
Parking
8
Subdivision
DIXIE PINES 2ND REV
Lot features
< 1/4 Acre
Standard status
Active
APN
30-69-12-008-1295
Size
2,400 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
12-13 56 39 .27 AC DIXIE PINES PB 31-51 W100FT OF E305FT OF N1/2 TR 12 LOT SIZE 100.000 X 107 OR 11839-788 0783 1 COC 21699-1971 09 2003 1
Tax Annual Amount
10858
Legal Description
12-13 56 39 .27 AC DIXIE PINES PB 31-51 W100FT OF E305FT OF N1/2 TR 12 LOT SIZE 100.000 X 107 OR 11839-788 0783 1 COC 21699-1971 09 2003 1
Utilities
Utilities
Cable Available
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
2006
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Miami New Realty
(305) 485-3100
Listed By:
Kristina Rivera · License #3020924
(786) 316-8453
Added: Jul 18
Changed: Aug 23
Last Checked: Aug 23 at 7:06PM
MLS# A11904247
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 single-level duplex contains 2,400 square feet arranged as two residences, with each unit offering 3 bedrooms and 2 bathrooms. The property was built in 2006 with block construction, tile flooring, a shingle roof, and central electric heating and cooling. Cable service is available.
Located in Miami-Dade County, the property is positioned at 12040 SW 215th St, Miami, FL 33177. Its two-unit layout provides a clearly defined residential income configuration within one building.
Located in Miami-Dade County, the property is positioned at 12040 SW 215th St, Miami, FL 33177. Its two-unit layout provides a clearly defined residential income configuration within one building.
Key Highlights
- 2,400‑square‑foot duplex with two residential units
- Each unit includes 3 bedrooms and 2 bathrooms
- Single‑story block construction completed in 2006
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
$40,008
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
5.10%
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%
$800,160
$800.2K
Cap Rate 7%
$571,543
$571.5K
Cap Rate 9%
$444,533
$444.5K
Market Conditions
NOI Build-Up for 2,400 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
$60.5K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$57.2K $23.81/SF
− OpEx
−$17.1K −$7.14/SF
NOI
$40.0K $16.67/SF
Area
ZIP 33177
Vacancy
5.50%
Lease Rate
$25.20 /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%
$800,160
Cap Rate 7%
$571,543
Cap Rate 9%
$444,533
Alternative Uses
Best Use
Multifamily LT 5
$571.5K
$500.1K – $666.8K
NOI $40,008 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$527.3K
$461.4K – $615.2K
NOI $36,910 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,233 @ 7.0% cap · market cap 10.86%
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
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 33177, FL
56,331
Population
17,124
Households
3.3
Avg Household Size
41
Median Age
23%
College-Educated
84%
High-School Grad
12.6 sq mi
ZIP Area
4,471
Density / Sq Mi
$77,297
Median Household Income
$36,347
Median Earnings
$2,080
Median Rent
$399,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences feature block construction, tile flooring, and central air conditioning.
Where is this duplex located?
The property is located at 12040 SW 215th St Miami, FL.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 2,400‑square‑foot duplex with two residential units; Each unit includes 3 bedrooms and 2 bathrooms; Single‑story block construction completed in 2006
