Remodeled Duplex Near Miami
For Sale
$599,000
7814 NW 5th Ct, Miami, FL 33150
Completely remodeled duplex with income potential near Miami attractions.
Property Size1,679 SF
Days on Market269
Property Features for 7814 NW 5th Ct
General Information
Standard status
Active
Size
1,679 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$6,439
Building Details
Building Size
1,679 SF
Year Built
1937
Stories
1
Units
2
Listing Agency:
Keyes Company Realtors
(305) 978-8685
Listed By:
Claudia Swanes · License #3073625
(305) 978-8685
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 22
Last Checked: Aug 23 at 10:46AM
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 Keyes Company Realtors
Investment Insights
Based on property information with market context.
This completely remodeled duplex features updated roofing, flooring, plumbing, and electrical systems. The front unit, currently rented to Section 8 tenants for $2,700 per month on a month-to-month basis, is a 3-bedroom, 1-bathroom layout. The back unit, a 3-bedroom, 2-bathroom configuration, is projected to rent for $3,000 per month on a yearly basis; it is currently rented on a short-term basis and includes brand-new appliances and a new AC system. The property is located close to the airport, beaches, Wynwood, the Design District, Midtown, and Brickell. The property has T5-R zoning. The gross annual rental income is projected to be $68,400. Expenses include water, sewer, and taxes.
Key Highlights
- High income potential: $68,400 gross annual rent
- Completely remodeled, including roof, floors, plumbing, and electric
- Second unit offers potential for $3,000/month rent
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
$33,673
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
5.62%
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%
$673,460
$673.5K
Cap Rate 7%
$481,043
$481.0K
Cap Rate 9%
$374,144
$374.1K
Market Conditions
NOI Build-Up for 1,679 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
$51.4K $30.60/SF
− Vacancy
−$3.3K −$1.95/SF
EGI
$48.1K $28.65/SF
− OpEx
−$14.4K −$8.60/SF
NOI
$33.7K $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%
$673,460
Cap Rate 7%
$481,043
Cap Rate 9%
$374,144
Alternative Uses
Best Use
Multifamily LT 5
$481.0K
$420.9K – $561.2K
NOI $33,673 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$443.1K
$387.7K – $517.0K
NOI $31,017 @ 7.0% cap · market cap 5.18%
Theoretical Best
Specialty Retail
$1.13M
$991.7K – $1.32M
NOI $79,334 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,180
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 - Completely remodeled duplex with income potential near Miami attractions.
Where is this duplex located?
The property is located at 7814 NW 5th Ct Miami, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: High income potential: $68,400 gross annual rent; Completely remodeled, including roof, floors, plumbing, and electric; Second unit offers potential for $3,000/month rent
