Under-Construction
New
For Sale
$749,000
1457-1459 NW 2ND AVE, Florida City, FL 33034
Residential Income, Florida City, FL
Property Size2,582 SF
Price / SF$290.09
Days on Market3
Property Features for 1457-1459 NW 2ND AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
R2
Bedrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 6, Bedroom 6, Bathroom 4, Bathroom 3, Bedroom 5, Bathroom 5
Parking
6
Subdivision
CORAL BAY MANOR
Lot features
< 1/4 Acre
Standard status
Active
APN
16-78-24-020-0580
Size
2,582 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL BAY MANOR PB 57-40 LOT 18 BLK 3 LOT SIZE 6000 SQFT
Tax Annual Amount
1019
Legal Description
CORAL BAY MANOR PB 57-40 LOT 18 BLK 3 LOT SIZE 6000 SQFT
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
washer
dryer
Building Details
Year built
2025
Floors in Building
2
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
Florida Realty of Miami Corp
(305) 598-5488
Listed By:
Brinnibert Pimentel PA · License #3412731
(786) 803-7803
Added: Sep 25
Last Checked: Sep 27 at 11:06AM
MLS# A12095593
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,582-square-foot duplex is under construction, with completion scheduled for 2025. The two residences offer a combined six bedrooms, four full bathrooms, and two half bathrooms; each unit is configured with three bedrooms and two full bathrooms plus a half bath. Both have an open living area and washer and dryer. Block construction, laminate flooring, central heating and central air conditioning are specified, along with a shingle roof.
The property is at 1457-1459 NW 2ND AVE in Florida City. Public sewer service and cable availability are noted, and parking accommodates multiple vehicles. The property has no HOA and is identified as Section 8 approved.
The property is at 1457-1459 NW 2ND AVE in Florida City. Public sewer service and cable availability are noted, and parking accommodates multiple vehicles. The property has no HOA and is identified as Section 8 approved.
Key Highlights
- 2,582‑square‑foot duplex under construction, with 2025 year built
- Two units, each with 3 bedrooms, 2 full bathrooms, and 1 half bath
- Combined total of 6 bedrooms, 4 full bathrooms, and 2 half bathrooms
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
$43,041
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
5.75%
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%
$860,820
$860.8K
Cap Rate 7%
$614,871
$614.9K
Cap Rate 9%
$478,233
$478.2K
Market Conditions
NOI Build-Up for 2,582 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
$65.1K $25.20/SF
− Vacancy
−$3.6K −$1.39/SF
EGI
$61.5K $23.81/SF
− OpEx
−$18.4K −$7.14/SF
NOI
$43.0K $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%
$860,820
Cap Rate 7%
$614,871
Cap Rate 9%
$478,233
Alternative Uses
Best Use
Multifamily LT 5
$614.9K
$538.0K – $717.4K
NOI $43,041 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$567.3K
$496.4K – $661.8K
NOI $39,709 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,697 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
913
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Each residence has three bedrooms, two full bathrooms, and a half bath, with laundry equipment in place.
Where is this duplex located?
The property is located at 1457-1459 NW 2ND AVE Florida City, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2,582‑square‑foot duplex under construction, with 2025 year built; Two units, each with 3 bedrooms, 2 full bathrooms, and 1 half bath; Combined total of 6 bedrooms, 4 full bathrooms, and 2 half bathrooms
