Two-Unit Duplex with Central
For Sale
Under Contract
$555,000
1737-1739 NW 47th Ter, Miami, FL 33142
Residential Income, Miami, FL
Property Size1,375 SF
Price / SF$403.64
Days on Market46
Property Features for 1737-1739 NW 47th Ter
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2
Parking
4
Subdivision
17TH AVE MANOR
Lot features
< 1/4 Acre
Standard status
Active Under Contract
APN
01-31-22-014-0440
Size
1,375 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
17TH AVE MANOR PB 18-43 LOT 9 BLK 3 LOT SIZE 44.000 X 109 OR 21227-2626 042003 4
Tax Annual Amount
7236
Legal Description
17TH AVE MANOR PB 18-43 LOT 9 BLK 3 LOT SIZE 44.000 X 109 OR 21227-2626 042003 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1957
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
Iconic Miami Realty
(305) 725-4185
Listed By:
Belmis Montesino · License #3243480
(305) 725-4185
Added: Jul 18
Changed: Aug 30
Last Checked: Sep 1 at 1:06AM
MLS# A11886094
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.
Located at 1737-1739 NW 47th Ter in Miami, this two-unit duplex was built in 1957 with block construction, laminate flooring, a shingle roof, central heating, central air, and ceiling fans. The property includes public water and public sewer service, with cable availability noted.
The residence contains two separate units. Unit #1 has two bedrooms, one bathroom, and 800 square feet. Unit #2 includes one bedroom, one bathroom, and 675 square feet. The bedroom and bathroom configuration supports a compact duplex layout, while the existing central systems provide cooling and heating features across the property.
The residence contains two separate units. Unit #1 has two bedrooms, one bathroom, and 800 square feet. Unit #2 includes one bedroom, one bathroom, and 675 square feet. The bedroom and bathroom configuration supports a compact duplex layout, while the existing central systems provide cooling and heating features across the property.
Key Highlights
- Two‑unit duplex at 1737‑1739 NW 47th Ter, Miami, FL 33142
- Unit #1 includes 2 bedrooms, 1 bathroom, and 800 sqft
- Unit #2 includes 1 bedroom, 1 bathroom, and 675 sqft
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
$27,576
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
4.97%
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%
$551,520
$551.5K
Cap Rate 7%
$393,943
$393.9K
Cap Rate 9%
$306,400
$306.4K
Market Conditions
NOI Build-Up for 1,375 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%
$551,520
Cap Rate 7%
$393,943
Cap Rate 9%
$306,400
Alternative Uses
Best Use
Multifamily LT 5
$393.9K
$344.7K – $459.6K
NOI $27,576 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$362.9K
$317.5K – $423.4K
NOI $25,401 @ 7.0% cap · market cap 4.58%
Theoretical Best
Specialty Retail
$928.1K
$812.1K – $1.08M
NOI $64,969 @ 7.0% cap · market cap 11.71%
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
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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 - Block construction with public water and sewer serves this Miami income property.
Where is this duplex located?
The property is located at 1737-1739 NW 47th Ter Miami, FL.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Two‑unit duplex at 1737‑1739 NW 47th Ter, Miami, FL 33142; Unit #1 includes 2 bedrooms, 1 bathroom, and 800 sqft; Unit #2 includes 1 bedroom, 1 bathroom, and 675 sqft
