Two-Unit Duplex with New
For Sale
$485,000
401 Northwest 81st Street, Miami, FL 33150
Two one-bedroom residences feature one bathroom, living and dining areas, and month-to-month occupancy.
Property Size1,254 SF
Price / SF$386.76
Days on Market933
Property Features for 401 Northwest 81st Street
General Information
Standard status
Active
Size
1,254 SF
Total Parking Spaces
2
Property subtype
Commercial/Industrial / Income/Multi Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,125
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,690
Building Details
Year Built
1948
Listing Agency:
Global Investments Realty
Listed By:
Joel Rodriguez · License #0545697
(305) 635-3005
Source:
Compass
Added: Mar 29, 2024
Changed: Oct 11
Last Checked: Oct 16 at 11:31AM
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 Global Investments Realty
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Investment Insights
Based on property information with market context.
Built in 1948, this duplex contains two one-bedroom, one-bath residences within 1,254 square feet. Each unit includes a living and dining area, while the property provides two parking spaces. The roof was replaced in January 2023, and one residence received a full renovation during the same month. Both units are currently rented on month-to-month terms.
The property is located at 401 Northwest 81st Street in Miami, east of the I-95 Expressway. Its setting provides access to major transportation routes and the surrounding Miami area.
The property is located at 401 Northwest 81st Street in Miami, east of the I-95 Expressway. Its setting provides access to major transportation routes and the surrounding Miami area.
Key Highlights
- Two‑unit duplex with 1,254 square feet of property size
- Each unit offers 1 bedroom and 1 bath
- New roof completed in January 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,150
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,000
$503.0K
Cap Rate 7%
$359,286
$359.3K
Cap Rate 9%
$279,444
$279.4K
Market Conditions
NOI Build-Up for 1,254 SF
Gross rent
$38.4K $30.60/SF
− Vacancy
−$2.4K −$1.95/SF
EGI
$35.9K $28.65/SF
− OpEx
−$10.8K −$8.60/SF
NOI
$25.1K $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 Rate 5%
$503,000
Cap Rate 7%
$359,286
Cap Rate 9%
$279,444
Alternative Uses
Best Use
Multifamily LT 5
$359.3K
$314.4K – $419.2K
NOI $25,150 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$330.9K
$289.6K – $386.1K
NOI $23,166 @ 7.0% cap · market cap 4.78%
Theoretical Best
Specialty Retail
$846.5K
$740.7K – $987.5K
NOI $59,252 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,778
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom residences feature one bathroom, living and dining areas, and month-to-month occupancy.
Where is this duplex located?
The property is located at 401 Northwest 81st Street Miami, FL.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,254 square feet of property size; Each unit offers 1 bedroom and 1 bath; New roof completed in January 2023
