Converted Duplex Ready for
For Sale
Contact for pricing
20075 SW 87th Pl, Cutler Bay, FL 33189
Fully renovated duplex ideal for investors or flexible living.
Property Size2,545 SF
Price / SF$322.99
Days on Market252
Property Features for 20075 SW 87th Pl
General Information
Standard status
Active
Size
2,545 SF
Property subtype
Multifamily
Zoning
MR-9
Building Details
Year Built
1974
Listing Agency:
Realty Hub
Listed By:
Esther Frances · License #3498022
Source:
Crexi
Added: Dec 10, 2025
Changed: Aug 8
Last Checked: Jul 19 at 2:27AM
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 Realty Hub
Investment Insights
Based on property information with market context.
This fully converted duplex presents an opportunity for investors or buyers seeking flexibility and income. The property features two spacious units under a single folio. Both units are easily rentable for short- or long-term stays, managed by a professional company. The location is convenient for wedding guests in Homestead and visitors to Matheson Hammock Park, Deering Estate, and Fairchild Gardens. The property has been renovated with updated plumbing, kitchens, flooring, landscaping, and designer finishes. Each unit includes private outdoor spaces. The roof was replaced in 2018. The rental income was $55,000 in 2022, $65,000 in 2023, and $48,000 in 2024. The average monthly income per unit for 2025 is based on short-term rentals.
Key Highlights
- High income potential with a history of strong rental revenue: $55,000 (2022), $65,000 (2023), $48,000 (2024).
- Fully converted duplex with two spacious units on one folio, offering flexibility for investors or owner‑occupants.
- Recently renovated with updated plumbing, kitchen, flooring, landscaping, and designer finishes.
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
$42,425
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
5.16%
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%
$848,500
$848.5K
Cap Rate 7%
$606,071
$606.1K
Cap Rate 9%
$471,389
$471.4K
Market Conditions
NOI Build-Up for 2,545 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
$64.1K $25.20/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$60.6K $23.81/SF
− OpEx
−$18.2K −$7.14/SF
NOI
$42.4K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$848,500
Cap Rate 7%
$606,071
Cap Rate 9%
$471,389
Alternative Uses
Best Use
Multifamily LT 5
$606.1K
$530.3K – $707.1K
NOI $42,425 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$559.1K
$489.3K – $652.3K
NOI $39,140 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,383 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
Explore this area
Business Placement
Demographics for 33189, FL
25,598
Population
8,901
Households
2.9
Avg Household Size
41
Median Age
27%
College-Educated
83%
High-School Grad
5.1 sq mi
ZIP Area
5,019
Density / Sq Mi
$66,487
Median Household Income
$41,039
Median Earnings
$1,539
Median Rent
$409,500
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 - Fully renovated duplex ideal for investors or flexible living.
Where is this duplex located?
The property is located at 20075 SW 87th Pl Cutler Bay, FL.
What is the asking price?
The asking price for this property is $822,000.
What are key features of this property?
This property features: High income potential with a history of strong rental revenue: $55,000 (2022), $65,000 (2023), $48,000 (2024).; Fully converted duplex with two spacious units on one folio, offering flexibility for investors or owner‑occupants.; Recently renovated with updated plumbing, kitchen, flooring, landscaping, and designer finishes.
