New Construction Two-Unit
For Sale
$749,000
1766 Nw 68th St, Miami, FL 33147
Each residence offers three bedrooms, two bathrooms, modern finishes, and in-unit laundry within a newly built duplex.
Property Size2,144 SF
Price / SF$349.35
Days on Market92
Property Features for 1766 Nw 68th St
General Information
Standard status
Active
Size
2,144 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,126
Amenities
washer/dryer
shutters
fence
security cameras
Building Details
Buildings
1
Listing Agency:
Keller Williams Eagle Realty
(305) 757-1700
Listed By:
Hernan Gambertoglio · License #3244134
(305) 495-3707
Source:
Exprealty
Added: Jun 12
Changed: Sep 10
Last Checked: Sep 10 at 2:42PM
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 Keller Williams Eagle Realty
Investment Insights
Based on property information with market context.
This new-construction duplex contains 2 residences, each arranged with 3 bedrooms and 2 bathrooms. The 2144-square-foot property features open living areas, tiled floors, updated kitchens with stainless steel appliances, and washer/dryer equipment in each unit. Separate power and water meters support distinct utility service for the residences.
Exterior improvements include shutters, perimeter fencing, and security cameras. The property is located in Miami with access to I-95 and proximity to Downtown Miami, Miami Beach, Wynwood, and the Design District. There is no HOA or association fee.
Exterior improvements include shutters, perimeter fencing, and security cameras. The property is located in Miami with access to I-95 and proximity to Downtown Miami, Miami Beach, Wynwood, and the Design District. There is no HOA or association fee.
Key Highlights
- New construction duplex with 2 units
- Each unit includes 3 bedrooms and 2 bathrooms
- 2144 square feet with open living areas and tiled floors
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
$42,999
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
5.74%
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%
$859,980
$860.0K
Cap Rate 7%
$614,271
$614.3K
Cap Rate 9%
$477,767
$477.8K
Market Conditions
NOI Build-Up for 2,144 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
$65.6K $30.60/SF
− Vacancy
−$4.2K −$1.95/SF
EGI
$61.4K $28.65/SF
− OpEx
−$18.4K −$8.60/SF
NOI
$43.0K $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%
$859,980
Cap Rate 7%
$614,271
Cap Rate 9%
$477,767
Alternative Uses
Best Use
Multifamily LT 5
$614.3K
$537.5K – $716.7K
NOI $42,999 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$565.8K
$495.1K – $660.1K
NOI $39,607 @ 7.0% cap · market cap 5.29%
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,305 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers three bedrooms, two bathrooms, modern finishes, and in-unit laundry within a newly built duplex.
Where is this duplex located?
The property is located at 1766 Nw 68th St Miami, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: New construction duplex with 2 units; Each unit includes 3 bedrooms and 2 bathrooms; 2144 square feet with open living areas and tiled floors
