2019-Built Duplex with Private
New
For Sale
$975,000
1216-1218 NE 112th Street, Miami, FL 33161
Two annually leased residences offer low-maintenance layouts with updated kitchens, private outdoor space, and no HOA fees.
Property Size2,040 SF
Price / SF$538.67
Days on Market7
Property Features for 1216-1218 NE 112th Street
General Information
Standard status
Active
Size
2,040 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
3700
Taxes and HOA fees
Annual Taxes
$14,837
Building Details
Building Size
2,040 SF
Year Built
2019
Stories
1
Listing Agency:
Investcounsel, LLC
(203) 362-7002
Listed By:
Gabriella Cartiglia
(203) 362-7002
Source:
Laerrealty
Added: Aug 17
Changed: Aug 22
Last Checked: Aug 23 at 2:52AM
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 Investcounsel, LLC
Investment Insights
Based on property information with market context.
Built in 2019, this duplex contains two independently configured residences totaling 1,810 square feet. Each side provides two bedrooms and two full bathrooms, along with an open living area, high ceilings, impact-rated windows and doors, an Italian kitchen with quartz countertops and stainless steel appliances, a full-size washer and dryer, smart thermostat, and central A/C. Primary suites include private bathrooms and walk-in closets. Both residences also have fenced backyards with decks.
The property is located at 1216-1218 NE 112th Street in Miami, Florida, and is identified with zoning code 3700. Both units are leased annually. Whole Foods, restaurants, shopping, and A-rated schools are reported to be 5–10 minutes away. The property has no HOA fees, and the current ownership structure offers the potential for short-term or Airbnb rentals.
The property is located at 1216-1218 NE 112th Street in Miami, Florida, and is identified with zoning code 3700. Both units are leased annually. Whole Foods, restaurants, shopping, and A-rated schools are reported to be 5–10 minutes away. The property has no HOA fees, and the current ownership structure offers the potential for short-term or Airbnb rentals.
Key Highlights
- Two‑unit duplex at 1216‑1218 NE 112th Street, Miami, FL 33161
- Built in 2019 with 1,810 square feet
- Each unit includes 2 bedrooms and 2 full baths
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
$36,301
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
3.72%
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%
$726,020
$726.0K
Cap Rate 7%
$518,586
$518.6K
Cap Rate 9%
$403,344
$403.3K
Market Conditions
NOI Build-Up for 1,810 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
$55.4K $30.60/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$51.9K $28.65/SF
− OpEx
−$15.6K −$8.60/SF
NOI
$36.3K $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%
$726,020
Cap Rate 7%
$518,586
Cap Rate 9%
$403,344
Alternative Uses
Best Use
Multifamily LT 5
$518.6K
$453.8K – $605.0K
NOI $36,301 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$477.7K
$418.0K – $557.3K
NOI $33,437 @ 7.0% cap · market cap 3.43%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,523 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,097
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
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 annually leased residences offer low-maintenance layouts with updated kitchens, private outdoor space, and no HOA fees.
Where is this duplex located?
The property is located at 1216-1218 NE 112th Street Miami, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two‑unit duplex at 1216‑1218 NE 112th Street, Miami, FL 33161; Built in 2019 with 1,810 square feet; Each unit includes 2 bedrooms and 2 full baths
