New Fourplex with Four-Bedroom
For Sale
$2,190,000
147 NW 61st St, Miami, FL 33127
Newly built quadplex with four-bedroom units and driveway parking.
Property Size5,369 SF
Days on Market8
Property Features for 147 NW 61st St
General Information
Standard status
Active
Size
5,369 SF
Total Parking Spaces
8
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 4BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,833
Building Details
Building Size
5,369 SF
Year Built
2025
Buildings
1
Stories
2
Units
4
Listing Agency:
Sustainable RE, LLC.
Listed By:
Joao Barbosa · License #3592191
(305) 904-6929
Source:
Elliman
Added: Sep 19
Last Checked: Sep 24 at 2:44PM
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 Sustainable RE, LLC.
Investment Insights
Based on property information with market context.
Completed in 2025, this quadplex contains four spacious residential units, with each unit configured as a four-bedroom home. The driveway accommodates up to 8 vehicles, providing dedicated on-site parking for residents and guests.
The property is located at 147 NW 61st St in Miami, Florida, with highway access described as minutes away. Walk Score is 78, classified as Very Walkable; Bike Score is 57, classified as Bikeable; and Transit Score is 48, classified as Some Transit. The four-unit configuration and consistent bedroom count create a clearly defined residential income property profile.
The property is located at 147 NW 61st St in Miami, Florida, with highway access described as minutes away. Walk Score is 78, classified as Very Walkable; Bike Score is 57, classified as Bikeable; and Transit Score is 48, classified as Some Transit. The four-unit configuration and consistent bedroom count create a clearly defined residential income property profile.
Key Highlights
- Four‑unit quadplex completed in 2025
- Each unit includes 4 bedrooms
- Driveway accommodates up to 8 vehicles
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
$107,678
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
4.92%
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%
$2,153,560
$2.2M
Cap Rate 7%
$1,538,257
$1.5M
Cap Rate 9%
$1,196,422
$1.2M
Market Conditions
NOI Build-Up for 5,369 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
$164.3K $30.60/SF
− Vacancy
−$10.5K −$1.95/SF
EGI
$153.8K $28.65/SF
− OpEx
−$46.1K −$8.60/SF
NOI
$107.7K $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 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%
$2,153,560
Cap Rate 7%
$1,538,257
Cap Rate 9%
$1,196,422
Alternative Uses
Best Use
Multifamily LT 5
$1.54M
$1.35M – $1.79M
NOI $107,678 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,184 @ 7.0% cap · market cap 4.53%
Theoretical Best
Specialty Retail
$3.62M
$3.17M – $4.23M
NOI $253,688 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,354
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Newly built quadplex with four-bedroom units and driveway parking.
Where is this quadplex located?
The property is located at 147 NW 61st St Miami, FL.
What is the asking price?
The asking price for this property is $2,190,000.
What are key features of this property?
This property features: Four‑unit quadplex completed in 2025; Each unit includes 4 bedrooms; Driveway accommodates up to 8 vehicles
