Renovated 4-Unit Residential
For Sale
$1,025,000
1430 NW 2nd Ave, Florida City, FL 33034
Four renovated 2-bedroom units feature impact windows and central air, built in 1956.
Property Size3,094 SF
Lot Size0.14 Acres
Price / SF$331.29
Days on Market110
Property Features for 1430 NW 2nd Ave
General Information
Standard status
Active
Size
3,094 SF
Lot size
0.14 Acres
Property subtype
Quadruplex
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,703
Building Details
Building Size
3,094 SF
Year Built
1956
Year Renovated
2025
Listing Agency:
MSP Group, LLC
(786) 671-0149
Listed By:
Samuel Mekras · License #3341183
Source:
Relinkre
Added: May 6
Changed: Aug 23
Last Checked: Aug 22 at 3:10PM
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 MSP Group, LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property consists of 2-bedroom, 1.5-bath units, with each home laid out at approximately 774 square feet. The building was constructed in 1956 and was completely renovated in 2025. Unit interiors include renovated floors, kitchens, and bathroom vanities, along with impact windows and central air conditioning.
The property is located in Florida City, conveniently positioned near US-1 and the Florida Turnpike. Nearby points of interest within about one mile include Washington and Blakey Parks, West Homestead Elementary School, and the Florida Department of Health – Florida City Clinic.
The property totals approximately 3,094 rentable square feet across the four units. It is less than two miles from Downtown Homestead, where new investment is underway, including the opening of the Homestead Station development.
The property is located in Florida City, conveniently positioned near US-1 and the Florida Turnpike. Nearby points of interest within about one mile include Washington and Blakey Parks, West Homestead Elementary School, and the Florida Department of Health – Florida City Clinic.
The property totals approximately 3,094 rentable square feet across the four units. It is less than two miles from Downtown Homestead, where new investment is underway, including the opening of the Homestead Station development.
Key Highlights
- 4‑unit multifamily property built in 1956 on 0.14 acres with approx. 3,094 rentable SF
- All units are 2‑bedroom/1.5‑bath units with approx. 774 SF each
- Completely renovated in 2025 with renovated floors, kitchens, and bathroom vanities
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
$51,576
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
5.03%
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%
$1,031,520
$1.0M
Cap Rate 7%
$736,800
$736.8K
Cap Rate 9%
$573,067
$573.1K
Market Conditions
NOI Build-Up for 3,094 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
$78.0K $25.20/SF
− Vacancy
−$4.3K −$1.39/SF
EGI
$73.7K $23.81/SF
− OpEx
−$22.1K −$7.14/SF
NOI
$51.6K $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%
$1,031,520
Cap Rate 7%
$736,800
Cap Rate 9%
$573,067
Alternative Uses
Best Use
Multifamily LT 5
$736.8K
$644.7K – $859.6K
NOI $51,576 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$679.8K
$594.8K – $793.1K
NOI $47,584 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,880 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,389
Businesses Nearby
Explore this area
Business Placement
Demographics for 33034, FL
22,850
Population
6,631
Households
3.4
Avg Household Size
34
Median Age
9%
College-Educated
65%
High-School Grad
1,173.1 sq mi
ZIP Area
19
Density / Sq Mi
$46,404
Median Household Income
$31,712
Median Earnings
$1,283
Median Rent
$310,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four renovated 2-bedroom units feature impact windows and central air, built in 1956.
Where is this quadplex located?
The property is located at 1430 NW 2nd Ave Florida City, FL.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: 4‑unit multifamily property built in 1956 on 0.14 acres with approx. 3,094 rentable SF; All units are 2‑bedroom/1.5‑bath units with approx. 774 SF each; Completely renovated in 2025 with renovated floors, kitchens, and bathroom vanities
