Well-Maintained Duplex Income
For Sale
$575,000
1820 NW 73rd Street, Miami, FL 33147
Duplex with two spacious two-bedroom, one-bath units and rental income already in place.
Property Size1,165 SF
Price / SF$493.56
Days on Market97
Property Features for 1820 NW 73rd Street
General Information
Standard status
Active
Size
1,165 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
5700
Occupancy
100%
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,236
Building Details
Building Size
1,165 SF
Year Built
1953
Stories
1
Tenancy
Multi
Listing Agency:
LPT Realty, LLC
(863) 677-6310
Listed By:
Yeanli Velez · License #3483775
(863) 677-6310
Source:
Laerrealty
Added: May 20
Changed: Aug 23
Last Checked: Aug 22 at 7:08AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two spacious 2-bedroom, 1-bath units. Each unit is set up for rental occupancy, with current rents listed on the rent roll for Unit A and Unit B. The property generates a total gross annual income of $49,200 based on the provided figures.
The duplex is conveniently located near major roadways, as well as shopping, dining, and schools, supporting everyday accessibility for tenants.
Designed for investors or owner-occupants, the building provides rental income to help offset expenses while maintaining a straightforward two-unit configuration.
The duplex is conveniently located near major roadways, as well as shopping, dining, and schools, supporting everyday accessibility for tenants.
Designed for investors or owner-occupants, the building provides rental income to help offset expenses while maintaining a straightforward two-unit configuration.
Key Highlights
- 1953‑built duplex with two spacious 2‑bedroom, 1‑bath units
- Unit A rents for $2,100/month ($25,200 annually)
- Unit B rents for $2,000/month ($24,000 annually)
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
$23,365
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
4.06%
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%
$467,300
$467.3K
Cap Rate 7%
$333,786
$333.8K
Cap Rate 9%
$259,611
$259.6K
Market Conditions
NOI Build-Up for 1,165 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
$35.6K $30.60/SF
− Vacancy
−$2.3K −$1.95/SF
EGI
$33.4K $28.65/SF
− OpEx
−$10.0K −$8.60/SF
NOI
$23.4K $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%
$467,300
Cap Rate 7%
$333,786
Cap Rate 9%
$259,611
Alternative Uses
Best Use
Multifamily LT 5
$333.8K
$292.1K – $389.4K
NOI $23,365 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$307.5K
$269.0K – $358.7K
NOI $21,522 @ 7.0% cap · market cap 3.74%
Theoretical Best
Specialty Retail
$786.4K
$688.1K – $917.5K
NOI $55,047 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
807
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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 with two spacious two-bedroom, one-bath units and rental income already in place.
Where is this duplex located?
The property is located at 1820 NW 73rd Street Miami, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1953‑built duplex with two spacious 2‑bedroom, 1‑bath units; Unit A rents for $2,100/month ($25,200 annually); Unit B rents for $2,000/month ($24,000 annually)
