Two-Unit Residential Income
1838 Northwest 18th Street Miami, FL 33125
1838 Northwest 18th Street, Miami, FL, 33125
$715,000
For Sale
$715,000
Duplex with front and rear units, each tenant-occupied month to month, plus fenced yard and two large sheds.
Property Size1,904 SF
Price / SF$375.53
Days on Market613
Property Features for 1838 Northwest 18th Street
General Information
- Standard status
- Active
- Size
- 1,904 SF
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1963
Listing agency
Developers Group Realty
(305) 448-0102
Listed by
Arturo Garcia-Lavin · License #0652100
(305) 448-0102
Source
Compass
Added: Nov 16, 2024 Updated: Jul 20 at 6:02PM Checked: Jul 22 at 7:56AM
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 Developers Group Realty
Investment Insights
Based on property information with market context.
This two-unit residential income property features a front unit with 2 bedrooms and 1 bathroom, and a rear unit with 3 bedrooms and 1 bathroom. Both units are rented on a month-to-month basis. The rear unit has an HVAC system and water heater that are each reported as one year old.
The property is fenced and includes a large back yard, along with two large sheds for additional outdoor storage or functionality.
With two separate rental units and recent improvements noted for the rear HVAC and water heater, the duplex is set up for an income-focused ownership structure.
The property is fenced and includes a large back yard, along with two large sheds for additional outdoor storage or functionality.
With two separate rental units and recent improvements noted for the rear HVAC and water heater, the duplex is set up for an income-focused ownership structure.
Key Highlights
- 1963‑built duplex with front 2BR/1BA and rear 3BR/1BA units, both tenant‑occupied month to month
- Front unit rents for $2,500/month (month to month)
- Rear unit rents for $2,800/month (month to month)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.3k | $30.60 |
| − Vacancy | −$3.7k | −$1.95 |
| EGI | $54.6k | $28.65 |
| − OpEx | −$16.4k | −$8.60 |
| NOI | $38.2k | $20.06 |
1,904 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$545.5K
$477.3K – $636.4K
NOI $38,186 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$502.5K
$439.7K – $586.2K
NOI $35,173 @ 7.0% cap · market cap 4.92%
Theoretical Best
Specialty Retail
$1.29M
$1.12M – $1.50M
NOI $89,965 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex with front and rear units, each tenant-occupied month to month, plus fenced yard and two large sheds.
Where is this duplex located?
The property is located at 1838 Northwest 18th Street Miami, FL.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: 1963‑built duplex with front 2BR/1BA and rear 3BR/1BA units, both tenant‑occupied month to month; Front unit rents for $2,500/month (month to month); Rear unit rents for $2,800/month (month to month)
