New Construction Duplex with
For Sale
$769,900
Pending
1840 NW 63rd St, Miami, FL 33147
New construction duplex with two 3-bedroom, 2-bath units, each featuring its own laundry closet and two parking spaces.
Property Size2,032 SF
Days on Market176
Property Features for 1840 NW 63rd St
General Information
Standard status
Pending
Size
2,032 SF
Total Parking Spaces
4
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,797
Building Details
Building Size
2,032 SF
Year Built
2026
Tenancy
Multi
Listing Agency:
Keller Williams Eagle Realty
Listed By:
Ivan Rabinovich · License #3276152
(305) 803-0894
Source:
Casacollectiongroup
Added: Mar 17
Changed: Sep 8
Last Checked: Sep 8 at 11:58AM
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 newly constructed duplex includes two separate 3-bedroom, 2-bath units with modern finishes. Each unit has its own tankless water heater and a dedicated laundry closet, along with new stainless steel appliances. Impact windows are installed to help reduce insurance costs.
The property is positioned in a central Miami area with quick access to Brickell, Downtown, Wynwood, and Miami Beach.
For convenience, the duplex provides 2 parking spaces per unit. The property is approved for AIRBNB/short-term rental use, offering flexibility for an owner-occupant or an investor looking to generate rental income from both units.
The property is positioned in a central Miami area with quick access to Brickell, Downtown, Wynwood, and Miami Beach.
For convenience, the duplex provides 2 parking spaces per unit. The property is approved for AIRBNB/short-term rental use, offering flexibility for an owner-occupant or an investor looking to generate rental income from both units.
Key Highlights
- New construction duplex (YearBuilt 2026) with two 3‑bedroom, 2‑bath units
- Each unit has its own laundry closet and a tankless water heater
- Impact windows help reduce insurance costs
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
$40,753
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
5.29%
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%
$815,060
$815.1K
Cap Rate 7%
$582,186
$582.2K
Cap Rate 9%
$452,811
$452.8K
Market Conditions
NOI Build-Up for 2,032 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
$62.2K $30.60/SF
− Vacancy
−$4.0K −$1.95/SF
EGI
$58.2K $28.65/SF
− OpEx
−$17.5K −$8.60/SF
NOI
$40.8K $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%
$815,060
Cap Rate 7%
$582,186
Cap Rate 9%
$452,811
Alternative Uses
Best Use
Multifamily LT 5
$582.2K
$509.4K – $679.2K
NOI $40,753 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$536.3K
$469.2K – $625.6K
NOI $37,538 @ 7.0% cap · market cap 4.88%
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,013 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
892
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
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 - New construction duplex with two 3-bedroom, 2-bath units, each featuring its own laundry closet and two parking spaces.
Where is this duplex located?
The property is located at 1840 NW 63rd St Miami, FL.
What is the asking price?
The asking price for this property is $769,900.
What are key features of this property?
This property features: New construction duplex (YearBuilt 2026) with two 3‑bedroom, 2‑bath units; Each unit has its own laundry closet and a tankless water heater; Impact windows help reduce insurance costs
