Duplex with Two 1-Bed
For Sale
Under Contract
$515,000
170 NE 68th Ter, Miami, FL 33138
MULTI_FAMILY - Miami, FL
Property Size1,376 SF
Price / SF$374.27
Days on Market30
Property Features for 170 NE 68th Ter
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
6107
Parking
2
Subdivision
PRAMAR
Lot features
< 1/4 Acre
Standard status
Active Under Contract
APN
01-31-13-006-0660
Size
1,376 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
PRAMAR SUB PB 8-110 LOT 72 LESS N6FT FOR ST LOT SIZE 60.000 X 84 OR 20739-3312 10 2002 1 COC 23248-4106 03 2005 1
Tax Annual Amount
6984
Legal Description
PRAMAR SUB PB 8-110 LOT 72 LESS N6FT FOR ST LOT SIZE 60.000 X 84 OR 20739-3312 10 2002 1 COC 23248-4106 03 2005 1
Utilities
Sewer type
Public Sewer
Cooling system
Electric
Building Details
Year built
1954
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
Canvas Real Estate
(954) 332-7121
Listed By:
Maria Barrera · License #3353031
(786) 520-7827
Added: Jul 18
Changed: Aug 1
Last Checked: Aug 16 at 10:06AM
MLS# A11944653
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex at 170 NE 68th Ter in Miami offers two 1-bedroom, 1-bathroom units within a block construction building. The interior includes ceramic tile flooring, electric cooling, and a shingle roof. The property is served by public sewer, supporting day-to-day operations for either rental use or multi-generational living.
The home is located in Miami’s Little Haiti neighborhood. The property is described as having zoning for up to 8 units, which may be useful for buyers considering redevelopment scenarios.
The building was constructed in 1954. With two separate units already in place and zoning that allows additional density, the property can appeal to investors seeking rental income while also evaluating the long-term potential associated with the site’s allowed unit capacity.
The home is located in Miami’s Little Haiti neighborhood. The property is described as having zoning for up to 8 units, which may be useful for buyers considering redevelopment scenarios.
The building was constructed in 1954. With two separate units already in place and zoning that allows additional density, the property can appeal to investors seeking rental income while also evaluating the long-term potential associated with the site’s allowed unit capacity.
Key Highlights
- Two 1‑bed, 1‑bath units in a block construction duplex
- Zoning for up to 8 units
- Ceramic tile flooring
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
$27,596
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
5.36%
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%
$551,920
$551.9K
Cap Rate 7%
$394,229
$394.2K
Cap Rate 9%
$306,622
$306.6K
Market Conditions
NOI Build-Up for 1,376 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
$42.1K $30.60/SF
− Vacancy
−$2.7K −$1.95/SF
EGI
$39.4K $28.65/SF
− OpEx
−$11.8K −$8.60/SF
NOI
$27.6K $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%
$551,920
Cap Rate 7%
$394,229
Cap Rate 9%
$306,622
Alternative Uses
Best Use
Multifamily LT 5
$394.2K
$345.0K – $459.9K
NOI $27,596 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$363.1K
$317.7K – $423.7K
NOI $25,419 @ 7.0% cap · market cap 4.94%
Theoretical Best
Specialty Retail
$928.8K
$812.7K – $1.08M
NOI $65,017 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,456
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
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 - Duplex in Miami’s Little Haiti area with two 1-bed, 1-bath units and zoning for up to 8 units.
Where is this duplex located?
The property is located at 170 NE 68th Ter Miami, FL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two 1‑bed, 1‑bath units in a block construction duplex; Zoning for up to 8 units; Ceramic tile flooring
