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    Miami Duplex Opportunity Title is generated by Realmo AI

    1953-1955 NW 3rd Street, Miami, FL 33125

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    New
    For Sale
    $860,000

    MULTI_FAMILY - Miami, FL

    Property size:
    2,886 SF
    Lot size:
    0.15 Acres
    Price / SF:
    $297/SF
    Added:
    May 26, 2026
    Days on Market:
    5
    Last Refresh:
    May 30 at 10:06 pm

    Property Features for 1953-1955 NW 3rd Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    5700
    Bedrooms
    6
    Rooms
    Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 4, Bedroom 6, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 5
    Pets allowed
    Yes, No
    Fencing
    Chain Link
    Standard status
    Active
    APN
    0141030080930
    Size
    2,886 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SWASTIKA PARK PB 4-98 LOT 9 LESS S5FT TO CITY BLK 8 LOT SIZE 62.200 X 105 OR 14024-2469 0289 1
    Tax Annual Amount
    12917

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1988
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile - Ceramic
    Building materials
    CBS
    Roof type
    Shingle

    We can help!

    Listing Contact
    Stanley Rosen

    Listing agent Stanley Rosen License #681734

    Listing office The Keyes Company 6850 Main Street, Miami, FL

    Listing date May 26, 2026

    MLS# B26033195 Listing URL

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two spacious units, each with 3 bedrooms and 2 bathrooms, totaling approximately 2,886 sq. ft. of living space.
    • Excellent duplex opportunity to enjoy the lifestyle without the taxes.
    • Separate water and electrical meters for each unit.
    • Both units are currently vacant, allowing for immediate occupancy or renovation.
    • Private patio for each unit.
    • Roof replaced in 2003 with permits.

    Overview

    This property presents an excellent duplex opportunity, featuring two spacious units. Each unit includes 3 bedrooms, 2 bathrooms, a living room, a dining area, a laundry room, and a private patio. Each unit offers approximately 1,443 square feet of living space. The property has separate water and electrical meters. The roof was replaced in 2003 with permits. The property is mostly in original condition, offering an opportunity for customization. Both units are currently vacant. The property is located to enjoy the Coral Gables lifestyle without the Coral Gables taxes. The lot size is 0.15 acres, and the property size is 2,886 square feet. The zoning is 5700.

    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 $88.3k $30.60
    − Vacancy −$5.6k −$1.95
    EGI $82.7k $28.65
    − OpEx −$24.8k −$8.60
    NOI $57.9k $20.06
    2,886 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $826.9K
    $723.5K – $964.7K (±1% cap)
    NOI $57,880 @ 7.0% cap · market cap 6.73%
    Second Best
    Apartment 5plus
    $761.6K
    $666.4K – $888.6K (±1% cap)
    NOI $53,314 @ 7.0% cap · market cap 6.20%
    Theoretical Best
    Specialty Retail
    $1.95M
    $1.70M – $2.27M (±1% cap)
    NOI $136,365 @ 7.0% cap · market cap 15.86%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.227635
    Latitude
    25.77646

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    FAQs

    What type of property is this?
    Duplex - Spacious duplex in Miami, ready for customization.
    Where is this duplex located?
    The property is located at 1953-1955 NW 3rd Street Miami, FL.
    What is the asking price?
    The asking price for this property is $860,000.
    What are key features of this property?
    This property features: Two spacious units, each with 3 bedrooms and 2 bathrooms, totaling approximately 2,886 sq. ft. of living space.; Excellent duplex opportunity to enjoy the lifestyle without the taxes.; Separate water and electrical meters for each unit.
    (305) 510-8032
    We can help!
    Listing Contact
    Stanley Rosen
    Real Estate License ID: 681734
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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