Renovated Duplex with New
For Sale
$825,000
161 NE 117th St, Miami, FL 33161
Updated kitchens, bathrooms, and flooring enhance this duplex for residential income use.
Property Size2,138 SF
Price / SF$385.87
Days on Market223
Property Features for 161 NE 117th St
General Information
Standard status
Active
Size
2,138 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$7,800
Building Details
Building Size
2,138 SF
Year Built
1966
Listing Agency:
NV Realty
Listed By:
Luis Apa · License #3329211
(305) 766-2912
Source:
Casacollectiongroup
Added: Mar 17
Changed: Oct 17
Last Checked: Oct 23 at 3:08PM
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 NV Realty
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Investment Insights
Based on property information with market context.
This duplex at 161 Northeast 117th Street in Miami combines a two-unit configuration with extensive recent improvements. The property has a new roof, new flooring, renovated kitchens, and updated bathrooms, providing a refreshed interior and exterior package for residential income use.
Constructed in 1966, the property offers 2,138 of stated property size in a central Miami setting. The address is in the 33161 ZIP code.
Constructed in 1966, the property offers 2,138 of stated property size in a central Miami setting. The address is in the 33161 ZIP code.
Key Highlights
- Duplex with two residential units
- New roof, flooring, kitchens, and bathrooms
- 2,138 stated property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,879
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$857,580
$857.6K
Cap Rate 7%
$612,557
$612.6K
Cap Rate 9%
$476,433
$476.4K
Market Conditions
NOI Build-Up for 2,138 SF
Gross rent
$65.4K $30.60/SF
− Vacancy
−$4.2K −$1.95/SF
EGI
$61.3K $28.65/SF
− OpEx
−$18.4K −$8.60/SF
NOI
$42.9K $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 Rate 5%
$857,580
Cap Rate 7%
$612,557
Cap Rate 9%
$476,433
Alternative Uses
Best Use
Multifamily LT 5
$612.6K
$536.0K – $714.7K
NOI $42,879 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$564.2K
$493.7K – $658.3K
NOI $39,496 @ 7.0% cap · market cap 4.79%
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $101,021 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,165
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Updated kitchens, bathrooms, and flooring enhance this duplex for residential income use.
Where is this duplex located?
The property is located at 161 NE 117th St Miami, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Duplex with two residential units; New roof, flooring, kitchens, and bathrooms; 2,138 stated property size
