2-Unit Duplex with Separate
1551 NE 117th St, Miami, FL 33161
For Sale
$845,000
Each residence has its own water and FPL meter, with a distinct entrance.
Property Size2,246 SF
Days on Market50
Property Features for 1551 NE 117th St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Utilities to Site
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Govern Realty Corp
Listed By:
Omar Garcia · License FL #3023049
(305) 704-3656
Source:
Relinkre
Added: Sep 22
Changed: Nov 3
Last Checked: Nov 10 at 3:43PM
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 Govern Realty Corp
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1978, this duplex contains two residences: one with 2 bedrooms and 1 bathroom, and another with 3 bedrooms, 2 bathrooms, and a den that can serve as a fourth bedroom or additional living space. Each unit has its own entrance and separate water and FPL meters. The property also has a new roof, new impact windows, and a lot with mature tropical landscaping.
Key Highlights
- Two‑unit duplex with a 2‑bedroom, 1‑bathroom residence and a 3‑bedroom, 2‑bathroom residence
- Den in the larger unit can be used as a fourth bedroom
- Separate entrances and individual water and FPL meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,045
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$900,900
$900.9K
Cap Rate 7%
$643,500
$643.5K
Cap Rate 9%
$500,500
$500.5K
Market Conditions
NOI Build-Up for 2,246 SF
Gross rent
$68.7K $30.60/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$64.3K $28.65/SF
− OpEx
−$19.3K −$8.60/SF
NOI
$45.0K $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%
$900,900
Cap Rate 7%
$643,500
Cap Rate 9%
$500,500
Alternative Uses
Best Use
Multifamily LT 5
$643.5K
$563.1K – $750.8K
NOI $45,045 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$592.7K
$518.6K – $691.5K
NOI $41,491 @ 7.0% cap · market cap 4.91%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,125 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,835
Businesses Nearby
Explore this area
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
$376,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Miami, FL
Properties on Market for Duplexes in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own water and FPL meter, with a distinct entrance.
Where is this duplex located?
The property is located at 1551 NE 117th St Miami, FL.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom, 1‑bathroom residence and a 3‑bedroom, 2‑bathroom residence; Den in the larger unit can be used as a fourth bedroom; Separate entrances and individual water and FPL meters for each unit
