Two-Unit Duplex with Mixed
For Sale
$640,000
1845 NW 16th St, Miami, FL 33125
Residential property offers one three-bedroom, two-bathroom unit and a second residence with two bedrooms and one bathroom.
Property Size2,871 SF
Days on Market13
Property Features for 1845 NW 16th St
General Information
Standard status
Active
Size
2,871 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$10,800
Building Details
Building Size
2,871 SF
Year Built
1977
Listing Agency:
Fausto Commercial Realty Consultants Inc
(305) 443-7423
Listed By:
Miguel Fuentes · License #3403804
Source:
Marcelosteinmander
Added: Aug 20
Changed: Aug 31
Last Checked: Aug 31 at 12:09AM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This duplex includes two residential units with distinct bedroom and bathroom configurations. One unit contains three bedrooms and two bathrooms, while the other provides two bedrooms and one bathroom. The property was built in 1977 and is located at 1845 NW 16th St in Miami, Florida.
The five-bedroom, three-bathroom configuration is organized across the two units, providing a clearly defined multifamily layout within a single property.
The five-bedroom, three-bathroom configuration is organized across the two units, providing a clearly defined multifamily layout within a single property.
Key Highlights
- Two‑unit duplex configuration
- One unit has 3 bedrooms and 2 bathrooms
- Second unit has 2 bedrooms and 1 bathroom
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
$57,579
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
9.00%
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%
$1,151,580
$1.2M
Cap Rate 7%
$822,557
$822.6K
Cap Rate 9%
$639,767
$639.8K
Market Conditions
NOI Build-Up for 2,871 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
$87.9K $30.60/SF
− Vacancy
−$5.6K −$1.95/SF
EGI
$82.3K $28.65/SF
− OpEx
−$24.7K −$8.60/SF
NOI
$57.6K $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%
$1,151,580
Cap Rate 7%
$822,557
Cap Rate 9%
$639,767
Alternative Uses
Best Use
Multifamily LT 5
$822.6K
$719.7K – $959.7K
NOI $57,579 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$757.7K
$663.0K – $884.0K
NOI $53,037 @ 7.0% cap · market cap 8.29%
Theoretical Best
Specialty Retail
$1.94M
$1.70M – $2.26M
NOI $135,656 @ 7.0% cap · market cap 21.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,441
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
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 - Residential property offers one three-bedroom, two-bathroom unit and a second residence with two bedrooms and one bathroom.
Where is this duplex located?
The property is located at 1845 NW 16th St Miami, FL.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; One unit has 3 bedrooms and 2 bathrooms; Second unit has 2 bedrooms and 1 bathroom
