Duplex With Separate Utility
New
For Sale
$725,000
55 NE 165th Street, Miami, FL 33162
Two-unit property with distinct bedroom layouts, an attached garage, individual utility meters, and a shared backyard.
Property Size2,868 SF
Price / SF$341.34
Days on Market4
Property Features for 55 NE 165th Street
General Information
Standard status
Active
Size
2,868 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
5700
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,702
Building Details
Building Size
2,868 SF
Year Built
1971
Stories
1
Listing Agency:
Legacy Group Real Estate, LLC.
(786) 320-0199
Listed By:
Lupita Alonso
(786) 320-0199
Source:
Laerrealty
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 4:48AM
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 Legacy Group Real Estate, LLC.
Investment Insights
Based on property information with market context.
This duplex contains two residential units with distinct layouts. The first includes 2 bedrooms, 1 bathroom, and an attached garage; the second provides 3 bedrooms and 1 bathroom. Separate electric and water meters serve the units, supporting independent utility management. The property was built in 1971 and carries zoning designation 5700.
Located at 55 NE 165th Street in Miami, the property offers access to I-95 and the Palmetto Expressway (SR-826). North Miami Beach, Barry University, Greynolds Park, Aventura Mall, beaches, shopping, dining, schools, and public transportation are identified in the surrounding area. The site also includes a large backyard and parking serving both units.
Located at 55 NE 165th Street in Miami, the property offers access to I-95 and the Palmetto Expressway (SR-826). North Miami Beach, Barry University, Greynolds Park, Aventura Mall, beaches, shopping, dining, schools, and public transportation are identified in the surrounding area. The site also includes a large backyard and parking serving both units.
Key Highlights
- Two‑unit duplex with 2‑bedroom and 3‑bedroom layouts
- 2,124 property size; built in 1971
- Separate electric and water meters for each unit
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
$42,598
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
5.88%
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%
$851,960
$852.0K
Cap Rate 7%
$608,543
$608.5K
Cap Rate 9%
$473,311
$473.3K
Market Conditions
NOI Build-Up for 2,124 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
$65.0K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$60.9K $28.65/SF
− OpEx
−$18.3K −$8.60/SF
NOI
$42.6K $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%
$851,960
Cap Rate 7%
$608,543
Cap Rate 9%
$473,311
Alternative Uses
Best Use
Multifamily LT 5
$608.5K
$532.5K – $710.0K
NOI $42,598 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$560.5K
$490.5K – $654.0K
NOI $39,238 @ 7.0% cap · market cap 5.41%
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,360 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,868
Businesses Nearby
Explore this area
Business Placement
Demographics for 33162, FL
45,277
Population
16,719
Households
2.7
Avg Household Size
39
Median Age
21%
College-Educated
81%
High-School Grad
5.3 sq mi
ZIP Area
8,543
Density / Sq Mi
$55,993
Median Household Income
$31,848
Median Earnings
$1,535
Median Rent
$345,000
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 - Two-unit property with distinct bedroom layouts, an attached garage, individual utility meters, and a shared backyard.
Where is this duplex located?
The property is located at 55 NE 165th Street Miami, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑unit duplex with 2‑bedroom and 3‑bedroom layouts; 2,124 property size; built in 1971; Separate electric and water meters for each unit
