Duplex with Separate Utility
New
For Sale
$395,000
1529 NW 51st Ter, Miami, FL 33142
Both residences are tenant occupied under month-to-month rental agreements, with utility service metered separately.
Property Size1,266 SF
Price / SF$312.01
Days on Market5
Property Features for 1529 NW 51st Ter
General Information
Standard status
Active
Size
1,266 SF
Property subtype
Duplex
Site & Location
Neighborhood
Hadley Park
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Additional Details
Gross Income
$39,600
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,767
Amenities
central A/C
wall/window units
Building Details
Building Size
1,266 SF
Year Built
1920
Buildings
1
Construction
frame with stucco
Tenancy
Multi
Listing Agency:
Barcelo Realty Corp
Listed By:
Francesc Llanas Prat · License #3398401
(305) 747-4330
Source:
Batrare
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 9:01AM
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 Barcelo Realty Corp
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Investment Insights
Based on property information with market context.
Located at 1529 NW 51st Terrace in Miami, this duplex contains two tenant-occupied residences: one with three bedrooms and one bathroom, and another with one bedroom and one bathroom. Both are rented month-to-month, and each has a separate utility meter.
The 1920-built property has frame construction with stucco finish and a shingle roof. Cooling includes central air conditioning as well as wall and window units.
The 1920-built property has frame construction with stucco finish and a shingle roof. Cooling includes central air conditioning as well as wall and window units.
Key Highlights
- Two units: one 3‑bedroom/1‑bathroom residence and one 1‑bedroom/1‑bathroom residence
- Both units are occupied and rented month‑to‑month
- Separate utility meters serve the two units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,390
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,800
$507.8K
Cap Rate 7%
$362,714
$362.7K
Cap Rate 9%
$282,111
$282.1K
Market Conditions
NOI Build-Up for 1,266 SF
Gross rent
$38.7K $30.60/SF
− Vacancy
−$2.5K −$1.95/SF
EGI
$36.3K $28.65/SF
− OpEx
−$10.9K −$8.60/SF
NOI
$25.4K $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%
$507,800
Cap Rate 7%
$362,714
Cap Rate 9%
$282,111
Alternative Uses
Best Use
Multifamily LT 5
$362.7K
$317.4K – $423.2K
NOI $25,390 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$334.1K
$292.3K – $389.8K
NOI $23,387 @ 7.0% cap · market cap 5.92%
Theoretical Best
Specialty Retail
$854.6K
$747.7K – $997.0K
NOI $59,819 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
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Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are tenant occupied under month-to-month rental agreements, with utility service metered separately.
Where is this duplex located?
The property is located at 1529 NW 51st Ter Miami, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two units: one 3‑bedroom/1‑bathroom residence and one 1‑bedroom/1‑bathroom residence; Both units are occupied and rented month‑to‑month; Separate utility meters serve the two units
