Duplex With Separate
For Sale
$700,000
Pending
171 NE 117th Street, Miami, FL 33161
Two-unit residential property with one rented unit and parking and outdoor-use space on a spacious lot.
Property Size1,765 SF
Days on Market158
Property Features for 171 NE 117th Street
General Information
Standard status
Pending
Size
1,765 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,816
Building Details
Building Size
1,765 SF
Year Built
1965
Buildings
1
Listing Agency:
TruDeals Realty Corp
Listed By:
Candace Garber · License #3533048
(224) 489-4435
Source:
Silverleafrealtygroup
Added: May 5
Changed: Oct 8
Last Checked: Oct 7 at 6:20PM
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 TruDeals Realty Corp
Investment Insights
Based on property information with market context.
This duplex, built in 1965, contains two separate living units with individual private entrances and functional layouts. One unit is currently rented, while the second provides flexibility for occupancy, additional rental use, or future improvements. The property sits on a spacious lot with room for parking and outdoor use.
The residence is located in Miami near major roadways, shopping, dining, schools, and public transportation. Its two-unit configuration and separate access points support a range of residential occupancy arrangements, subject to applicable requirements.
The residence is located in Miami near major roadways, shopping, dining, schools, and public transportation. Its two-unit configuration and separate access points support a range of residential occupancy arrangements, subject to applicable requirements.
Key Highlights
- Two separate living units, each with a private entrance
- One unit is currently rented
- Built in 1965
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,398
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,960
$708.0K
Cap Rate 7%
$505,686
$505.7K
Cap Rate 9%
$393,311
$393.3K
Market Conditions
NOI Build-Up for 1,765 SF
Gross rent
$54.0K $30.60/SF
− Vacancy
−$3.4K −$1.95/SF
EGI
$50.6K $28.65/SF
− OpEx
−$15.2K −$8.60/SF
NOI
$35.4K $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%
$707,960
Cap Rate 7%
$505,686
Cap Rate 9%
$393,311
Alternative Uses
Best Use
Multifamily LT 5
$505.7K
$442.5K – $590.0K
NOI $35,398 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$465.8K
$407.6K – $543.4K
NOI $32,606 @ 7.0% cap · market cap 4.66%
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,397 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with one rented unit and parking and outdoor-use space on a spacious lot.
Where is this duplex located?
The property is located at 171 NE 117th Street Miami, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two separate living units, each with a private entrance; One unit is currently rented; Built in 1965
