Duplex with Copper
For Sale
$699,000
1321 Northwest 28th Street, Miami, FL 33142
Two month-to-month residences feature matching two-bedroom, one-bath layouts within a 1953 multifamily building.
Property Size1,404 SF
Price / SF$497.86
Days on Market257
Property Features for 1321 Northwest 28th Street
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Multi-Family Income / Duplex
Property Condition
Severity
Repairs Needed
Evidence
room for upgrading
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$5,200
Taxes and HOA fees
Annual Taxes
$7,073
Building Details
Year Built
1953
Listing Agency:
Miami Residential Group
(305) 647-2663
Listed By:
Cuindney Mantilla · License #3325552
(305) 647-2663
Source:
Compass
Added: Dec 18, 2025
Changed: Aug 31
Last Checked: Aug 31 at 9:41PM
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 Residential Group
Investment Insights
Based on property information with market context.
This Miami duplex contains 2 units, with each residence offering 2 bedrooms and 1 bathroom. The building encompasses 1,404 square feet and was constructed in 1953. Both leases are month to month, providing a straightforward existing occupancy structure.
Property systems include a roof installed in 2012, plumbing updated in 2016, copper electrical wiring, and an A/C compressor installed in 2025. The asset is located at 1321 Northwest 28th Street in Miami, Florida 33142.
Property systems include a roof installed in 2012, plumbing updated in 2016, copper electrical wiring, and an A/C compressor installed in 2025. The asset is located at 1321 Northwest 28th Street in Miami, Florida 33142.
Key Highlights
- 2‑unit duplex with 1,404 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Month‑to‑month leases
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
$28,158
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
4.03%
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%
$563,160
$563.2K
Cap Rate 7%
$402,257
$402.3K
Cap Rate 9%
$312,867
$312.9K
Market Conditions
NOI Build-Up for 1,404 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
$43.0K $30.60/SF
− Vacancy
−$2.7K −$1.95/SF
EGI
$40.2K $28.65/SF
− OpEx
−$12.1K −$8.60/SF
NOI
$28.2K $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%
$563,160
Cap Rate 7%
$402,257
Cap Rate 9%
$312,867
Alternative Uses
Best Use
Multifamily LT 5
$402.3K
$352.0K – $469.3K
NOI $28,158 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$370.5K
$324.2K – $432.3K
NOI $25,937 @ 7.0% cap · market cap 3.71%
Theoretical Best
Specialty Retail
$947.7K
$829.3K – $1.11M
NOI $66,340 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,335
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
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 month-to-month residences feature matching two-bedroom, one-bath layouts within a 1953 multifamily building.
Where is this duplex located?
The property is located at 1321 Northwest 28th Street Miami, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2‑unit duplex with 1,404 square feet; Each unit includes 2 bedrooms and 1 bathroom; Month‑to‑month leases
