Remodeled
For Sale
$775,000
Pending
1243 NW 29th Ter, Miami, FL 33142
Three updated two-bedroom residences with renovated building systems, parking, and flexible ownership options.
Property Size1,792 SF
Days on Market61
Property Features for 1243 NW 29th Ter
General Information
Standard status
Pending
Size
1,792 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,225
Building Details
Building Size
1,792 SF
Year Built
1935
Listing Agency:
Lifestyle International Realty
Listed By:
Jania Brown · License #3400109
(954) 825-5722
Source:
Vanessafrankmiami
Added: Aug 10
Changed: Oct 8
Last Checked: Oct 7 at 4:30PM
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 Lifestyle International Realty
Investment Insights
Based on property information with market context.
This 1,792-square-foot triplex contains three separate two-bedroom, one-bathroom units. Recent work includes a new roof, impact windows, updated plumbing, upgraded electrical systems, and new air-conditioning units, providing a substantially renovated property with limited remaining capital work identified in the available details.
The property sits on a large lot with ample parking and no HOA or rental restrictions. It is located in Allapattah with access to major highways, Downtown Miami, Wynwood, Miami International Airport, and public transportation.
The three-unit layout supports multifamily ownership, including the option to occupy one residence while leasing the others, as described in the property information.
The property sits on a large lot with ample parking and no HOA or rental restrictions. It is located in Allapattah with access to major highways, Downtown Miami, Wynwood, Miami International Airport, and public transportation.
The three-unit layout supports multifamily ownership, including the option to occupy one residence while leasing the others, as described in the property information.
Key Highlights
- Three‑unit triplex with three 2‑bedroom, 1‑bathroom residences
- 1,792 square feet of property size
- New roof, impact windows, plumbing, electrical systems, and A/C units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,940
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$718,800
$718.8K
Cap Rate 7%
$513,429
$513.4K
Cap Rate 9%
$399,333
$399.3K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$54.8K $30.60/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$51.3K $28.65/SF
− OpEx
−$15.4K −$8.60/SF
NOI
$35.9K $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 Rate 5%
$718,800
Cap Rate 7%
$513,429
Cap Rate 9%
$399,333
Alternative Uses
Best Use
Multifamily LT 5
$513.4K
$449.3K – $599.0K
NOI $35,940 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$472.9K
$413.8K – $551.7K
NOI $33,104 @ 7.0% cap · market cap 4.27%
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,673 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,155
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three updated two-bedroom residences with renovated building systems, parking, and flexible ownership options.
Where is this triplex located?
The property is located at 1243 NW 29th Ter Miami, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Three‑unit triplex with three 2‑bedroom, 1‑bathroom residences; 1,792 square feet of property size; New roof, impact windows, plumbing, electrical systems, and A/C units
