Detached Triplex with Three
New
For Sale
$1,100,000
1963 SW 17th Ct, Miami, FL 33145
Residential Income, Miami, FL
Property Size1,830 SF
Lot Size0.17 Acres
Price / SF$601.09
Days on Market4
Property Features for 1963 SW 17th Ct
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
5700
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1
Parking
5
Subdivision
WOODCREST
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-10-037-0080
Size
1,830 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WOODCREST PB 16-56 LOT 9 BLK 1 LOT SIZE 50 X 150 73R-159326 COC 26035-4297 11 2007 5
Tax Annual Amount
13475
Legal Description
WOODCREST PB 16-56 LOT 9 BLK 1 LOT SIZE 50 X 150 73R-159326 COC 26035-4297 11 2007 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1948
Floors in Building
2
Building materials
Block
Listing Agency:
Douglas Elliman
(305) 695-6060
Listed By:
Duber Baptista · License #3476366
(786) 387-1115
Added: Sep 23
Last Checked: Sep 26 at 5:06PM
MLS# A12094152
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 detached triplex contains three separate residential units within 1,830 square feet of building area on a 7,500-square-foot lot. The property includes five bedrooms and four bathrooms, with block construction, wall/window and window-unit cooling, and a 1948 construction date. Public sewer and cable availability are also reported.
The property is positioned near Coral Gables, Brickell, and Downtown Miami, with access to major highways, shopping, dining, and public transportation. The Miami setting places the triplex within a broad range of established residential and commercial destinations while retaining a distinct three-unit configuration.
The property is positioned near Coral Gables, Brickell, and Downtown Miami, with access to major highways, shopping, dining, and public transportation. The Miami setting places the triplex within a broad range of established residential and commercial destinations while retaining a distinct three-unit configuration.
Key Highlights
- Three separate units in a detached triplex
- 1,830 square feet on a 7,500‑square‑foot lot
- Five bedrooms and four bathrooms
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
$36,702
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
3.34%
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%
$734,040
$734.0K
Cap Rate 7%
$524,314
$524.3K
Cap Rate 9%
$407,800
$407.8K
Market Conditions
NOI Build-Up for 1,830 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
$56.0K $30.60/SF
− Vacancy
−$3.6K −$1.95/SF
EGI
$52.4K $28.65/SF
− OpEx
−$15.7K −$8.60/SF
NOI
$36.7K $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%
$734,040
Cap Rate 7%
$524,314
Cap Rate 9%
$407,800
Alternative Uses
Best Use
Multifamily LT 5
$524.3K
$458.8K – $611.7K
NOI $36,702 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$482.9K
$422.6K – $563.4K
NOI $33,806 @ 7.0% cap · market cap 3.07%
Theoretical Best
Specialty Retail
$1.24M
$1.08M – $1.44M
NOI $86,468 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,822
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Separate residential units provide a flexible multifamily configuration near Coral Gables, Brickell, and Downtown Miami.
Where is this triplex located?
The property is located at 1963 SW 17th Ct Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three separate units in a detached triplex; 1,830 square feet on a 7,500‑square‑foot lot; Five bedrooms and four bathrooms
