New Construction Duplex with Six
For Sale
Contact for pricing
Pending
190 Northwest 57th Street, Miami, FL 33127
Two modern 3-bedroom units with in-unit laundry, stainless appliances, and dedicated parking for tenant convenience.
Property Size2,280 SF
Days on Market59
Property Features for 190 Northwest 57th Street
General Information
Standard status
Pending
Size
2,280 SF
Total Parking Spaces
6
Property subtype
Multifamily
Zoning
5700 - DUPLEXES - GENERAL
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2021
Buildings
1
Tenancy
Multi
Listing Agency:
KW Commercial Boca Raton East
(561) 305-6161
Listed By:
Stephen Molinari · License #3530706
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 11 at 11:17AM
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 KW Commercial Boca Raton East
Investment Insights
Based on property information with market context.
This new construction duplex offers two spacious, modern 3-bedroom, 2-bathroom residences, each with an open-concept living and dining area and a generous kitchen layout. Both units are equipped with in-unit washer and dryer, stainless steel appliances, and high-impact windows for enhanced safety and energy efficiency, along with ample storage throughout. The property includes a landscaped backyard and six dedicated parking spaces serving residents.
The duplex is located near Little Haiti, the Miami Design District, Midtown, and Downtown Miami, with easy access to I-95 and Miami International Airport. The surrounding area also offers nearby dining and coffee options including Panther Coffee, Chef Creole, Sur Empanadas, Fiorito, and Mandolin.
For investors, the property is presented as a turnkey rental opportunity, with both units currently leased at approximately $3,000 per month and designed for low day-to-day management. For owner-occupants, the duplex layout provides the flexibility of living in one unit while using the other as rental income, supported by dedicated parking and private outdoor space.
The duplex is located near Little Haiti, the Miami Design District, Midtown, and Downtown Miami, with easy access to I-95 and Miami International Airport. The surrounding area also offers nearby dining and coffee options including Panther Coffee, Chef Creole, Sur Empanadas, Fiorito, and Mandolin.
For investors, the property is presented as a turnkey rental opportunity, with both units currently leased at approximately $3,000 per month and designed for low day-to-day management. For owner-occupants, the duplex layout provides the flexibility of living in one unit while using the other as rental income, supported by dedicated parking and private outdoor space.
Key Highlights
- 2021‑built duplex with two modern 3‑bedroom, 2‑bath units, each approximately 1,200 SF
- Each unit has in‑unit washer and dryer and stainless steel appliances
- Open‑concept living and dining areas with a generous kitchen layout and ample storage in both 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
$45,727
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
3.27%
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%
$914,540
$914.5K
Cap Rate 7%
$653,243
$653.2K
Cap Rate 9%
$508,078
$508.1K
Market Conditions
NOI Build-Up for 2,280 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
$69.8K $30.60/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$65.3K $28.65/SF
− OpEx
−$19.6K −$8.60/SF
NOI
$45.7K $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%
$914,540
Cap Rate 7%
$653,243
Cap Rate 9%
$508,078
Alternative Uses
Best Use
Multifamily LT 5
$653.2K
$571.6K – $762.1K
NOI $45,727 @ 7.0% cap · market cap 3.27%
Second Best
Apartment 5plus
$601.7K
$526.5K – $702.0K
NOI $42,119 @ 7.0% cap · market cap 3.01%
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.80M
NOI $107,731 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
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 modern 3-bedroom units with in-unit laundry, stainless appliances, and dedicated parking for tenant convenience.
Where is this duplex located?
The property is located at 190 Northwest 57th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 2021‑built duplex with two modern 3‑bedroom, 2‑bath units, each approximately 1,200 SF; Each unit has in‑unit washer and dryer and stainless steel appliances; Open‑concept living and dining areas with a generous kitchen layout and ample storage in both units
