Midtown Duplex in Opportunity
For Sale
$595,000
1574 Northwest 58th Street, Miami, FL 33142
Duplex with owner financing, great investment near Wynwood.
Property Size1,440 SF
Lot Size0.12 Acres
Price / SF$413.19
Days on Market459
Property Features for 1574 Northwest 58th Street
General Information
Standard status
Active
Size
1,440 SF
Lot size
0.12 Acres
Property subtype
Residential Income / Duplex
Taxes and HOA fees
Annual Taxes
$7,333
Amenities
Central Air, Wall/Window Unit(s)
Central, Separate Meters
1.0
Tile
1
2
CBS
Separate Meters, Central
Shingle
No
Duplex
Building Details
Year Built
1959
Listing Agency:
Esquire Real Estate Serv.
(305) 898-1604
Listed By:
Alberto Calil · License #3199040
(305) 898-1604
Source:
Compass
Added: Jun 1, 2025
Changed: Aug 31
Last Checked: Jul 28 at 2:54PM
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 Esquire Real Estate Serv.
Investment Insights
Based on property information with market context.
This duplex is located in a Midtown opportunity zone. It features a 3/2 unit with central A/C, currently rented for $2,550.00, and a 2/1 unit with an updated bathroom and kitchen, leased for $2,000.00 per month. The property includes two electric meters and two water meters, along with ample parking inside. Constructed in 2022, the property offers 1,440 square feet of living space on a 5,350 square foot lot with a large backyard. The property is positioned near Wynwood, the Design District, Midtown, Downtown Miami, Miami Beach, I-95, Miami Airport, and the main corridor on 17th Avenue. Owner financing is available with 30% down. This property presents an investment opportunity or the option to live in one unit and rent out the other.
Key Highlights
- Owner financing available with 30% down.
- Duplex in Midtown opportunity zone.
- Strong rental income: 3/2 unit rented for $2,550/month and 2/1 unit rented for $2,000/month.**
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
$28,880
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
4.85%
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%
$577,600
$577.6K
Cap Rate 7%
$412,571
$412.6K
Cap Rate 9%
$320,889
$320.9K
Market Conditions
NOI Build-Up for 1,440 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
$44.1K $30.60/SF
− Vacancy
−$2.8K −$1.95/SF
EGI
$41.3K $28.65/SF
− OpEx
−$12.4K −$8.60/SF
NOI
$28.9K $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%
$577,600
Cap Rate 7%
$412,571
Cap Rate 9%
$320,889
Alternative Uses
Best Use
Multifamily LT 5
$412.6K
$361.0K – $481.3K
NOI $28,880 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$380.0K
$332.5K – $443.4K
NOI $26,602 @ 7.0% cap · market cap 4.47%
Theoretical Best
Specialty Retail
$972.0K
$850.5K – $1.13M
NOI $68,041 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,038
Businesses Nearby
Explore this area
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
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 - Duplex with owner financing, great investment near Wynwood.
Where is this duplex located?
The property is located at 1574 Northwest 58th Street Miami, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Owner financing available with 30% down.; Duplex in Midtown opportunity zone.; Strong rental income: 3/2 unit rented for $2,550/month and 2/1 unit rented for $2,000/month.**
