Miami Duplex Investment
For Sale
$555,000
Pending
1737-1739 NW 47th Ter, Miami, FL 33142
Duplex in Miami with strong rental income potential.
Property Size1,375 SF
Days on Market269
Property Features for 1737-1739 NW 47th Ter
General Information
Standard status
Pending
Size
1,375 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,236
Building Details
Building Size
1,375 SF
Year Built
1957
Stories
1
Units
2
Listing Agency:
Iconic Miami Realty, LLC
(305) 725-4185
Listed By:
Belmis Montesino · License #3243480
(305) 725-4185
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Jul 23 at 9:57AM
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 Iconic Miami Realty, LLC
Investment Insights
Based on property information with market context.
This duplex is located in Miami. Unit 1 features 2 bedrooms and 1 bathroom within 800 square feet, and is currently rented for $2,100 per month to a Section 8 tenant. Unit 2 includes 1 bedroom and 1 bathroom within 675 square feet, and is rented for $1,750 per month. This property offers investment potential in Miami's real estate market.
Key Highlights
- Excellent investment opportunity in Miami's thriving real estate market.
- Duplex property with two units, providing immediate rental income.
- Unit #1: 2 bedrooms, 1 bathroom, 800 sqft, rented for $2,100/month to a Section 8 tenant.
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
$27,576
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
4.97%
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%
$551,520
$551.5K
Cap Rate 7%
$393,943
$393.9K
Cap Rate 9%
$306,400
$306.4K
Market Conditions
NOI Build-Up for 1,375 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
$42.1K $30.60/SF
− Vacancy
−$2.7K −$1.95/SF
EGI
$39.4K $28.65/SF
− OpEx
−$11.8K −$8.60/SF
NOI
$27.6K $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%
$551,520
Cap Rate 7%
$393,943
Cap Rate 9%
$306,400
Alternative Uses
Best Use
Multifamily LT 5
$393.9K
$344.7K – $459.6K
NOI $27,576 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$362.9K
$317.5K – $423.4K
NOI $25,401 @ 7.0% cap · market cap 4.58%
Theoretical Best
Specialty Retail
$928.1K
$812.1K – $1.08M
NOI $64,969 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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 - Duplex in Miami with strong rental income potential.
Where is this duplex located?
The property is located at 1737-1739 NW 47th Ter Miami, FL.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Excellent investment opportunity in Miami's thriving real estate market.; Duplex property with two units, providing immediate rental income.; Unit #1: **2 bedrooms, 1 bathroom, 800 sqft**, rented for **$2,100/month** to a Section 8 tenant.
