Duplex With Impact
For Sale
$760,000
138 NE 68th Terrace, Miami, FL 33138
Two-unit residential property featuring a new roof, hurricane-rated windows, and updated plumbing.
Property Size1,811 SF
Days on Market425
Property Features for 138 NE 68th Terrace
General Information
Standard status
Active
Size
1,811 SF
Property subtype
Duplex
Site & Location
Neighborhood
Edison
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,834
Building Details
Building Size
1,811 SF
Year Built
1960
Listing Agency:
United Realty Group, Inc
Listed By:
Gertrude Joseph · License #3375739
(786) 285-6156
Source:
Silverleafrealtygroup
Added: Sep 2, 2025
Changed: Oct 31
Last Checked: Oct 30 at 9:36PM
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 United Realty Group, Inc
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Investment Insights
Based on property information with market context.
This duplex was built in 1960 and includes several recent physical improvements. The property has a new roof, hurricane-impact windows, and plumbing described as up to date, offering a refreshed infrastructure profile for a two-unit residential asset.
The property is situated in a historic neighborhood near Miami’s Design District and approximately 20 minutes from Miami Beach. Its duplex configuration and updated building components provide a straightforward residential income property format in an established Miami setting.
The property is situated in a historic neighborhood near Miami’s Design District and approximately 20 minutes from Miami Beach. Its duplex configuration and updated building components provide a straightforward residential income property format in an established Miami setting.
Key Highlights
- Duplex configuration for residential income use
- Built in 1960
- New roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,321
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,420
$726.4K
Cap Rate 7%
$518,871
$518.9K
Cap Rate 9%
$403,567
$403.6K
Market Conditions
NOI Build-Up for 1,811 SF
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 Rate 5%
$726,420
Cap Rate 7%
$518,871
Cap Rate 9%
$403,567
Alternative Uses
Best Use
Multifamily LT 5
$518.9K
$454.0K – $605.4K
NOI $36,321 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$477.9K
$418.2K – $557.6K
NOI $33,455 @ 7.0% cap · market cap 4.40%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,571 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,137
Businesses Nearby
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Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property featuring a new roof, hurricane-rated windows, and updated plumbing.
Where is this duplex located?
The property is located at 138 NE 68th Terrace Miami, FL.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Duplex configuration for residential income use; Built in 1960; New roof
