Renovated 2-Unit
1533 NE 131st Ln, North Miami, FL 33161
For Sale
$699,000
Each residence has two bedrooms, one bathroom, and central air conditioning.
Property Size1,560 SF
Lot Size0.24 Acres
Price / SF$448.08
Days on Market9
Property Features for 1533 NE 131st Ln
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
central AC systems
impact windows and doors
granite countertops
modern LED lighting
tropical backyard
Building Details
Building Size
Year Built
Listing Agency:
GG International Realty
Listed By:
Stephanie Haave · License #3371849
(786) 709-0999
Source:
Casacollectiongroup
Added: Oct 30
Changed: Nov 7
Last Checked: Nov 7 at 12:56PM
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 GG International Realty
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Investment Insights
Based on property information with market context.
This 1,560-square-foot duplex contains two residences, each with two bedrooms and one bathroom. Renovations completed within the past six years include remodeled kitchens with granite countertops, updated bathrooms, new electrical panels and wiring, plumbing improvements, LED lighting, and central air conditioning. Impact-rated windows and doors are installed, along with an attic fire-separation wall. The property occupies a 10,454-square-foot lot with artificial turf, mature shade trees, and landscaping.
One residence currently produces rental income. The property is near Biscayne Boulevard, shops, restaurants, schools, parks, and major roadways.
One residence currently produces rental income. The property is near Biscayne Boulevard, shops, restaurants, schools, parks, and major roadways.
Key Highlights
- Two 2‑bedroom, 1‑bathroom residences in a 1,560‑square‑foot duplex
- 10,454‑square‑foot lot with artificial turf, mature shade trees, and landscaping
- Renovations completed within the past six years include kitchen, bathroom, electrical, and plumbing updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,005
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$520,100
$520.1K
Cap Rate 7%
$371,500
$371.5K
Cap Rate 9%
$288,944
$288.9K
Market Conditions
NOI Build-Up for 1,560 SF
Gross rent
$39.3K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$37.1K $23.81/SF
− OpEx
−$11.1K −$7.14/SF
NOI
$26.0K $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 Rate 5%
$520,100
Cap Rate 7%
$371,500
Cap Rate 9%
$288,944
Alternative Uses
Best Use
Multifamily LT 5
$371.5K
$325.1K – $433.4K
NOI $26,005 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$342.7K
$299.9K – $399.9K
NOI $23,992 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$791.5K
$692.5K – $923.4K
NOI $55,402 @ 7.0% cap · market cap 7.93%
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
2,781
Businesses Nearby
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Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Miami-Dade County, FL
Properties on Market for Duplexes in Miami-Dade County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, one bathroom, and central air conditioning.
Where is this duplex located?
The property is located at 1533 NE 131st Ln North Miami, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom residences in a 1,560‑square‑foot duplex; 10,454‑square‑foot lot with artificial turf, mature shade trees, and landscaping; Renovations completed within the past six years include kitchen, bathroom, electrical, and plumbing updates
