Remodeled Duplex Income
15741 Northwest 38th Place Miami Gardens, FL 33054
For Sale
$749,900
Each side offers two beds and one bath, with private electric and water meters plus updated kitchen, bath, and HVAC.
Property Size1,560 SF
Lot Size0.21 Acres
Price / SF$480.71
Days on Market139
Property Features for 15741 Northwest 38th Place
General Information
- Standard status
- Active
- Size
- 1,560 SF
- Lot size
- 0.21 Acres
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1958
Listing Agency:
Brickell First Invest Realty
(305) 858-7773
Listed By:
Genie Martinez · License #0056154
(305) 858-7773
Source:
Compass
Added: Mar 6
Changed: Jul 21
Last Checked: Jul 23 at 10:39AM
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 Brickell First Invest Realty
Investment Insights
Based on property information with market context.
This remodeled duplex features two-bedroom, one-bath layouts on each side. Updates include new kitchens and baths, and the A/C and roof are approximately four years old. Interior finishes include white ceramic flooring throughout. Each unit has its own electric meter and water meter, along with a utility room for added convenience.
The property sits on a large 9,000-square-foot lot with a spacious backyard and lots of parking. It is centrally located near Hard Rock Stadium, restaurants, shops, major college campuses including St. Thomas University and Florida Memorial University, and local schools.
For convenience and setup, both units are separately metered and include dedicated utility rooms, supporting straightforward day-to-day management.
The property sits on a large 9,000-square-foot lot with a spacious backyard and lots of parking. It is centrally located near Hard Rock Stadium, restaurants, shops, major college campuses including St. Thomas University and Florida Memorial University, and local schools.
For convenience and setup, both units are separately metered and include dedicated utility rooms, supporting straightforward day-to-day management.
Key Highlights
- Duplex built in 1958 with 2 beds and 1 bath on each side
- Updated kitchen and bath in each unit, plus HVAC replaced about 4 years ago
- 4‑year‑old roof and white ceramic flooring throughout
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.8k | $21.00 |
| − Vacancy | −$950 | −$0.61 |
| EGI | $31.8k | $20.39 |
| − OpEx | −$9.5k | −$6.12 |
| NOI | $22.3k | $14.27 |
1,560 SF · lease $21.00/SF/yr · vacancy 2.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$318.1K
$278.3K – $371.1K
NOI $22,267 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$296.3K
$259.3K – $345.7K
NOI $20,743 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$464.4K
$406.4K – $541.8K
NOI $32,510 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Each side offers two beds and one bath, with private electric and water meters plus updated kitchen, bath, and HVAC.
Where is this duplex located?
The property is located at 15741 Northwest 38th Place Miami Gardens, FL.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Duplex built in 1958 with 2 beds and 1 bath on each side; Updated kitchen and bath in each unit, plus HVAC replaced about 4 years ago; 4‑year‑old roof and white ceramic flooring throughout
