Duplex with Two-Bedroom
New
For Sale
$460,000
765 NW 12th Street, Homestead, FL 33030
Income-producing duplex with established occupancy, separate two-bedroom layouts, and a roof replaced in 2018.
Property Size1,940 SF
Price / SF$306.67
Days on Market7
Property Features for 765 NW 12th Street
General Information
Standard status
Active
Size
1,940 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
5700
Taxes and HOA fees
Annual Taxes
$8,672
Building Details
Building Size
1,940 SF
Year Built
1957
Stories
1
Listing Agency:
South Dade Realty Inc
Listed By:
George E Cadman · License #0494638
(305) 322-3471
Source:
Laerrealty
Added: Sep 14
Last Checked: Sep 20 at 5:51AM
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 South Dade Realty Inc
Investment Insights
Based on property information with market context.
This duplex includes the units at 765 NW 12th Street and 769 NW 12th Street. Each side provides two bedrooms and one bathroom, with a combined property size of 1,500 square feet on an 11,700-square-foot lot. The units have not been updated, while both have passed four-point inspections and are fully insured.
Built in 1957, the property has established occupancy, with each tenant having remained in place for either 15 or 20 years. The roof was replaced in October 2018. Zoning is designated as 5700, and the property is located in Homestead, Florida.
Built in 1957, the property has established occupancy, with each tenant having remained in place for either 15 or 20 years. The roof was replaced in October 2018. Zoning is designated as 5700, and the property is located in Homestead, Florida.
Key Highlights
- Two‑unit duplex with a 2‑bedroom, 1‑bath layout on each side
- 1,500 square feet of property size on an 11,700‑square‑foot lot
- Tenants have occupied the units for 15 or 20 years
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
$25,005
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
5.44%
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%
$500,100
$500.1K
Cap Rate 7%
$357,214
$357.2K
Cap Rate 9%
$277,833
$277.8K
Market Conditions
NOI Build-Up for 1,500 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
$37.8K $25.20/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$35.7K $23.81/SF
− OpEx
−$10.7K −$7.14/SF
NOI
$25.0K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$500,100
Cap Rate 7%
$357,214
Cap Rate 9%
$277,833
Alternative Uses
Best Use
Multifamily LT 5
$357.2K
$312.6K – $416.8K
NOI $25,005 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$329.6K
$288.4K – $384.5K
NOI $23,069 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$761.0K
$665.9K – $887.9K
NOI $53,271 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Explore this area
Business Placement
Demographics for 33030, FL
36,776
Population
11,217
Households
3.3
Avg Household Size
33
Median Age
15%
College-Educated
61%
High-School Grad
17.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$43,231
Median Household Income
$28,214
Median Earnings
$1,307
Median Rent
$382,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with established occupancy, separate two-bedroom layouts, and a roof replaced in 2018.
Where is this duplex located?
The property is located at 765 NW 12th Street Homestead, FL.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom, 1‑bath layout on each side; 1,500 square feet of property size on an 11,700‑square‑foot lot; Tenants have occupied the units for 15 or 20 years
