Updated Two-Dwelling
For Sale
Contact for pricing
1703 SW 16th Ter, Miami, FL 33145
Two separate residences provide flexible living arrangements within one updated property.
Property Size3,308 SF
Price / SF$451.93
Days on Market107
Property Features for 1703 SW 16th Ter
General Information
Standard status
Active
Size
3,308 SF
Total Parking Spaces
6
Property subtype
Multifamily
Zoning
0100
Units
Unit Mix
1 x 4BR/4BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1935
Stories
2
Units
2
Listing Agency:
Prestige Realty Properties
Listed By:
Daisy Machado-Vazquez · License #3221812
Source:
Crexi
Added: May 19
Changed: Aug 29
Last Checked: Aug 31 at 8:39AM
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 Prestige Realty Properties
Investment Insights
Based on property information with market context.
This duplex contains two separate residences totaling 3,308 square feet. The primary dwelling offers four bedrooms and four bathrooms, along with an open kitchen layout and appliances. A separate one-bedroom, one-bath guest residence provides additional living space within the property. Both dwellings have been updated, supporting distinct household or occupancy arrangements.
Constructed in 1935, the property is located at 1703 SW 16th Ter in Miami, Florida 33145. The zoning designation is 0100.
Constructed in 1935, the property is located at 1703 SW 16th Ter in Miami, Florida 33145. The zoning designation is 0100.
Key Highlights
- Two‑dwelling duplex with 3,308 square feet
- Main residence includes 4 bedrooms and 4 bathrooms
- Separate guest residence offers 1 bedroom and 1 bathroom
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
$66,344
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
4.44%
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%
$1,326,880
$1.3M
Cap Rate 7%
$947,771
$947.8K
Cap Rate 9%
$737,156
$737.2K
Market Conditions
NOI Build-Up for 3,308 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
$101.2K $30.60/SF
− Vacancy
−$6.4K −$1.95/SF
EGI
$94.8K $28.65/SF
− OpEx
−$28.4K −$8.60/SF
NOI
$66.3K $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%
$1,326,880
Cap Rate 7%
$947,771
Cap Rate 9%
$737,156
Alternative Uses
Best Use
Multifamily LT 5
$947.8K
$829.3K – $1.11M
NOI $66,344 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$873.0K
$763.9K – $1.02M
NOI $61,110 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$2.23M
$1.95M – $2.61M
NOI $156,304 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,005
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
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 - Two separate residences provide flexible living arrangements within one updated property.
Where is this duplex located?
The property is located at 1703 SW 16th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Two‑dwelling duplex with 3,308 square feet; Main residence includes 4 bedrooms and 4 bathrooms; Separate guest residence offers 1 bedroom and 1 bathroom
