Westchester Duplex with Investment
For Sale
$799,000
9311 SW 37th St, Miami, FL 33165
Duplex in Westchester near amenities with customization opportunities.
Property Size2,106 SF
Days on Market264
Property Features for 9311 SW 37th St
General Information
Standard status
Active
Size
2,106 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$6,625
Building Details
Building Size
2,106 SF
Year Built
1963
Stories
1
Units
3
Listing Agency:
(305) 978-7710
Listed By:
Delia Abreu · License #3007744
(305) 978-7710
Source:
Elliman
Added: Dec 3, 2025
Changed: Aug 23
Last Checked: Aug 24 at 6:17AM
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 Delia Abreu
Investment Insights
Based on property information with market context.
Located in Westchester, this duplex offers potential in a central location near supermarkets, schools, and public transportation. The property features a main unit with 1 bedroom and 1 bathroom. The second unit can be configured as either a 1-bedroom, 1-bathroom or a 2-bedroom, 1-bathroom layout. The third unit includes 1 bedroom, 1 bathroom, a summer kitchen, and parking. Impact windows and doors are installed. The second and third units have been updated. Note that the property has open permits and existing code violations that will be assumed by the buyer. This property presents an opportunity for investors or buyers looking to customize and capitalize on a multi-unit property.
Key Highlights
- Prime location in the highly desirable Westchester area.
- Multi‑unit property with potential for rental income or extended family living.
- Impact windows and doors for enhanced security and weather protection.
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
$42,237
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
5.29%
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%
$844,740
$844.7K
Cap Rate 7%
$603,386
$603.4K
Cap Rate 9%
$469,300
$469.3K
Market Conditions
NOI Build-Up for 2,106 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
$64.4K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$60.3K $28.65/SF
− OpEx
−$18.1K −$8.60/SF
NOI
$42.2K $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%
$844,740
Cap Rate 7%
$603,386
Cap Rate 9%
$469,300
Alternative Uses
Best Use
Multifamily LT 5
$603.4K
$528.0K – $704.0K
NOI $42,237 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$555.8K
$486.3K – $648.4K
NOI $38,905 @ 7.0% cap · market cap 4.87%
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,509 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,334
Businesses Nearby
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
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 Westchester near amenities with customization opportunities.
Where is this duplex located?
The property is located at 9311 SW 37th St Miami, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime location in the highly desirable Westchester area.; Multi‑unit property with potential for rental income or extended family living.; Impact windows and doors for enhanced security and weather protection.
