Homestead Income-Producing Multifamily
For Sale
$825,000
35405 SW 192nd Ave, Homestead, FL 33034
Income-producing property with four structures on over half an acre.
Property Size1,736 SF
Lot Size0.50 Acres
Days on Market116
Property Features for 35405 SW 192nd Ave
General Information
Standard status
Active
Size
1,736 SF
Lot size
0.50 Acres
Property subtype
Commercial
Building Details
Building Size
1,736 SF
Year Built
1956
Listing Agency:
Miami International Real Estate
(305) 332-3351
Listed By:
Giselle Santana · License #3404001
(305) 332-3351
Source:
Elliman
Added: Apr 24
Changed: Aug 10
Last Checked: Aug 16 at 5:36AM
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 Miami International Real Estate
Investment Insights
Based on property information with market context.
This income-producing property is located in Homestead and situated on just over half an acre. It features four separate structures: three with 3-bedrooms and 2-baths, and one studio. The main house is a 3/2 ready for updates and customization. The improvements may require legalization. The property is currently generating approximately $4,000 per month in rental income, with further income potential once the main house is renovated and leased. The sale includes three folios: 30-7826-006-0540, 30-7826-006-0532, and 30-7826-006-0530. The property is being sold as-is. It is suitable for investors or end-users looking to live onsite while generating income. The bike score is 41, indicating it is somewhat bikeable, and the walk score is 25, indicating it is car-dependent.
Key Highlights
- Income‑producing property generating approximately $4,000/month
- Located in a desirable Homestead location on just over half an acre
- Includes four separate structures: three 3‑bedroom, 2‑bath units and one studio
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
$26,698
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
3.24%
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%
$533,960
$534.0K
Cap Rate 7%
$381,400
$381.4K
Cap Rate 9%
$296,644
$296.6K
Market Conditions
NOI Build-Up for 1,736 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
$50.8K $29.28/SF
− Vacancy
−$2.3K −$1.32/SF
EGI
$48.5K $27.96/SF
− OpEx
−$21.8K −$12.58/SF
NOI
$26.7K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$533,960
Cap Rate 7%
$381,400
Cap Rate 9%
$296,644
Alternative Uses
Best Use
Apartment 5plus
$381.4K
$333.7K – $445.0K
NOI $26,698 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$880.7K
$770.7K – $1.03M
NOI $61,652 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 33034, FL
22,850
Population
6,631
Households
3.4
Avg Household Size
34
Median Age
9%
College-Educated
65%
High-School Grad
1,173.1 sq mi
ZIP Area
19
Density / Sq Mi
$46,404
Median Household Income
$31,712
Median Earnings
$1,283
Median Rent
$310,700
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?
Multifamily property - Income-producing property with four structures on over half an acre.
Where is this multifamily property located?
The property is located at 35405 SW 192nd Ave Homestead, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Income‑producing property generating approximately $4,000/month; Located in a desirable Homestead location on just over half an acre; Includes four separate structures: three 3‑bedroom, 2‑bath units and one studio
