New Duplex with Rental
For Sale
Contact for pricing
11970-11972 SW 213 St, Miami, FL 33177
Newly constructed duplex, modern finishes, strong income potential.
Property Size2,256 SF
Price / SF$421.05
Days on Market610
Property Features for 11970-11972 SW 213 St
General Information
Standard status
Active
Size
2,256 SF
Property subtype
Multifamily
Zoning
3050
Building Details
Year Built
2024
Listing Agency:
Trust Realty Team
(305) 763-4713
Listed By:
Daylin Miranda · License #3219973
Source:
Crexi
Added: Dec 12, 2024
Changed: Aug 8
Last Checked: Aug 8 at 3:24PM
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 Trust Realty Team
Investment Insights
Based on property information with market context.
This newly constructed duplex presents an opportunity for investors and owner-occupants. The property features two units, each with 3 bedrooms and 2 bathrooms. The front unit is currently rented for $3150 per month for another year. The back unit is rented with Section 8, providing a guaranteed rental income of $3300 per month. The property offers modern finishes throughout and is positioned as a turnkey investment with strong income potential. The property size is 2256 square feet.
Key Highlights
- Strong Income Potential: Turnkey investment with existing tenants.
- Guaranteed Rental Income: One unit rented through Section 8, ensuring consistent payments.
- High Rental Income: Combined rental income of $6450 per month.
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
$37,607
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
3.96%
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%
$752,140
$752.1K
Cap Rate 7%
$537,243
$537.2K
Cap Rate 9%
$417,856
$417.9K
Market Conditions
NOI Build-Up for 2,256 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
$56.9K $25.20/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$53.7K $23.81/SF
− OpEx
−$16.1K −$7.14/SF
NOI
$37.6K $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%
$752,140
Cap Rate 7%
$537,243
Cap Rate 9%
$417,856
Alternative Uses
Best Use
Multifamily LT 5
$537.2K
$470.1K – $626.8K
NOI $37,607 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$495.7K
$433.7K – $578.3K
NOI $34,696 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.14M
$1.00M – $1.34M
NOI $80,119 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
559
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
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Frequently Asked Questions
What type of property is this?
Duplex - Newly constructed duplex, modern finishes, strong income potential.
Where is this duplex located?
The property is located at 11970-11972 SW 213 St Miami, FL.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Strong Income Potential: Turnkey investment with existing tenants.; Guaranteed Rental Income: One unit rented through Section 8, ensuring consistent payments.; High Rental Income: Combined rental income of $6450 per month.
