Renovated Duplex Near
For Sale
$420,000
1557-55 NW 66th St, Miami, FL 33147
Fully rented, renovated duplex near Wynwood, Downtown, and Brickell.
Property Size1,080 SF
Price / SF$388.89
Days on Market370
Property Features for 1557-55 NW 66th St
General Information
Standard status
Active
Size
1,080 SF
Property subtype
Duplex
Amenities
Central
Electric
Central Air
Cable Available, Flat
Building Details
Building Size
1,080 SF
Year Built
1962
Listing Agency:
Keller Williams Capital Realty
Listed By:
Joel D Valencia · License #BK3104992
(305) 330-9393
Source:
Kw
Added: Sep 4, 2025
Changed: Sep 7
Last Checked: Sep 7 at 7:33PM
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 Keller Williams Capital Realty
Investment Insights
Based on property information with market context.
This is a fully rented duplex located in Brownsville. The one-story duplex has been fully renovated, including a new roof installed in 2025, updated bathrooms, electric, and plumbing. The remodeled, move-in ready property features 4 beds and 2 baths. The kitchen has been upgraded with stainless-steel appliances and countertops. A new central AC unit has been installed with a 10-year warranty. The property has a separate entrance, making it suitable for leasing. The fully fenced property allows for RV/boat parking with no restrictions and no HOA. The property is near Wynwood, Downtown, and Brickell. There is only one water meter. Electricity in the back unit is monitored privately. The City of Miami will not allow two separate meters due to the lot size. The property size is 1080 square feet.
Key Highlights
- Fully renovated duplex with new roof (2025), bathrooms, electric, and plumbing.
- Fully rented, move‑in ready condition.
- Separate entrances make it ideal for leasing.
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
$21,660
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
5.16%
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%
$433,200
$433.2K
Cap Rate 7%
$309,429
$309.4K
Cap Rate 9%
$240,667
$240.7K
Market Conditions
NOI Build-Up for 1,080 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
$33.0K $30.60/SF
− Vacancy
−$2.1K −$1.95/SF
EGI
$30.9K $28.65/SF
− OpEx
−$9.3K −$8.60/SF
NOI
$21.7K $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%
$433,200
Cap Rate 7%
$309,429
Cap Rate 9%
$240,667
Alternative Uses
Best Use
Multifamily LT 5
$309.4K
$270.8K – $361.0K
NOI $21,660 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$285.0K
$249.4K – $332.5K
NOI $19,951 @ 7.0% cap · market cap 4.75%
Theoretical Best
Specialty Retail
$729.0K
$637.9K – $850.5K
NOI $51,030 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
Median Home Value
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 - Fully rented, renovated duplex near Wynwood, Downtown, and Brickell.
Where is this duplex located?
The property is located at 1557-55 NW 66th St Miami, FL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Fully renovated duplex with new roof (2025), bathrooms, electric, and plumbing.; Fully rented, move‑in ready condition.; Separate entrances make it ideal for leasing.
