Block Duplex with Fully Fenced
For Sale
$550,000
1785 NW 56th St, Miami, FL 33142
MULTI_FAMILY - Miami, FL
Property Size1,215 SF
Price / SF$452.67
Days on Market130
Property Features for 1785 NW 56th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
0104
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 1
Parking
2
Subdivision
FLORAL PK 1ST AMD
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-22-052-1680
Size
1,215 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FLORAL PK 1ST AMD PL PB 8-5 LOT 14 BLK 9 LOT SIZE 50.000 X 105 OR 15127-730 0791 4
Tax Annual Amount
6787
Legal Description
FLORAL PK 1ST AMD PL PB 8-5 LOT 14 BLK 9 LOT SIZE 50.000 X 105 OR 15127-730 0791 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
fully fenced yard
separate electric meters
Building Details
Year built
1946
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Tile, Flat
Listing Agency:
Phoenix Realtors LLC
(305) 615-1163
Listed By:
Marcela Ortiz · License #3426524
(754) 581-0137
Added: Apr 9
Changed: Aug 3
Last Checked: Aug 16 at 5:06AM
MLS# A11997642
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 block-constructed duplex offers two residential units configured for rental and privacy. Each unit includes two bedrooms and one bathroom, and the property has separate electric meters for the units. Flooring is ceramic tile. The duplex also includes a fully fenced yard, providing an enclosed outdoor area for occupants.
The property has central HVAC with electric cooling and electric heating, and it is served by public sewer. A cable connection is listed as available. Additional site characteristics include ample parking and easy access to major highways.
Built in 1946, the property totals 1,215 square feet and features a tile and flat roof. For showings, the property can be shown only with a submitted offer.
The property has central HVAC with electric cooling and electric heating, and it is served by public sewer. A cable connection is listed as available. Additional site characteristics include ample parking and easy access to major highways.
Built in 1946, the property totals 1,215 square feet and features a tile and flat roof. For showings, the property can be shown only with a submitted offer.
Key Highlights
- Duplex with block construction
- Each unit has 2 bedrooms and 1 bathroom
- Separate electric meters for the two units
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
$24,367
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
4.43%
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%
$487,340
$487.3K
Cap Rate 7%
$348,100
$348.1K
Cap Rate 9%
$270,744
$270.7K
Market Conditions
NOI Build-Up for 1,215 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
$37.2K $30.60/SF
− Vacancy
−$2.4K −$1.95/SF
EGI
$34.8K $28.65/SF
− OpEx
−$10.4K −$8.60/SF
NOI
$24.4K $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 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%
$487,340
Cap Rate 7%
$348,100
Cap Rate 9%
$270,744
Alternative Uses
Best Use
Multifamily LT 5
$348.1K
$304.6K – $406.1K
NOI $24,367 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$320.6K
$280.6K – $374.1K
NOI $22,445 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$820.1K
$717.6K – $956.8K
NOI $57,409 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,031
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each side has its own electric meter and a fully fenced yard on a block-built duplex.
Where is this duplex located?
The property is located at 1785 NW 56th St Miami, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Duplex with block construction; Each unit has 2 bedrooms and 1 bathroom; Separate electric meters for the two units
