New Construction
For Sale
$795,000
Pending
1895 NW 47th Ter, Miami, FL 33142
Residential Income, Miami, FL
Property Size2,300 SF
Days on Market38
Property Features for 1895 NW 47th Ter
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
5700
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
Parking
4
Subdivision
17TH AVE MANOR
Lot features
< 1/4 Acre
Standard status
Pending
APN
01-31-22-014-1155
Size
2,300 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
17TH AVE MANOR PB 18-43 LOT 28 BLK 6 LOT SIZE 45.660 X 109 FAU 01-3122-014-1150
Tax Annual Amount
3785
Legal Description
17TH AVE MANOR PB 18-43 LOT 28 BLK 6 LOT SIZE 45.660 X 109 FAU 01-3122-014-1150
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2026
Floors in Building
2
Flooring type
Tile, Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
Keller Williams Eagle Realty · Keller Williams Realty
(305) 757-1700
Listed By:
Ivan Rabinovich · License #3276152
(305) 803-0894
Added: Jul 18
Changed: Aug 19
Last Checked: Aug 24 at 5:06AM
MLS# A12021307
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 duplex contains two 3-bedroom, 2-bathroom units within a 2,300-square-foot under-construction property. Each residence includes modern finishes, a laundry closet, a tankless water heater, stainless steel appliances, impact windows and doors, tile flooring, central heating, and central air conditioning. The block-built structure is planned with a shingle roof and connects to public sewer service.
Located at 1895 NW 47th Ter in Miami, the property is described as minutes from Brickell, Downtown, Wynwood, and Miami Beach. Each unit includes two parking spaces, providing four spaces across the duplex. The property is identified with a 2026 year built.
Located at 1895 NW 47th Ter in Miami, the property is described as minutes from Brickell, Downtown, Wynwood, and Miami Beach. Each unit includes two parking spaces, providing four spaces across the duplex. The property is identified with a 2026 year built.
Key Highlights
- Two 3‑bedroom, 2‑bathroom units
- 2,300 square feet under‑construction duplex
- Each unit includes 2 parking spaces
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
$46,128
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
5.80%
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%
$922,560
$922.6K
Cap Rate 7%
$658,971
$659.0K
Cap Rate 9%
$512,533
$512.5K
Market Conditions
NOI Build-Up for 2,300 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
$70.4K $30.60/SF
− Vacancy
−$4.5K −$1.95/SF
EGI
$65.9K $28.65/SF
− OpEx
−$19.8K −$8.60/SF
NOI
$46.1K $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%
$922,560
Cap Rate 7%
$658,971
Cap Rate 9%
$512,533
Alternative Uses
Best Use
Multifamily LT 5
$659.0K
$576.6K – $768.8K
NOI $46,128 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$607.0K
$531.1K – $708.2K
NOI $42,489 @ 7.0% cap · market cap 5.34%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,676 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences feature modern finishes, private laundry closets, and dedicated parking for each unit.
Where is this duplex located?
The property is located at 1895 NW 47th Ter Miami, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bathroom units; 2,300 square feet under‑construction duplex; Each unit includes 2 parking spaces
