Two-Unit Residential Income
For Sale
$749,999
2029 Northwest 5th Street, Miami, FL 33125
Two separate units include a 4-bedroom, 2-bath home and a 2-bedroom, 1-bath home.
Property Size2,532 SF
Price / SF$296.21
Days on Market274
Property Features for 2029 Northwest 5th Street
General Information
Standard status
Active
Size
2,532 SF
Property subtype
Multi-Family Income / Duplex
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,120
Building Details
Year Built
1988
Tenancy
Multi
Listing Agency:
Hinz Realty Group
(786) 219-5177
Listed By:
Christian Hinz · License #3379348
(786) 219-5177
Source:
Compass
Added: Nov 12, 2025
Changed: Aug 8
Last Checked: Jul 21 at 1:47AM
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 Hinz Realty Group
Investment Insights
Based on property information with market context.
This two-unit residential income property features separate living areas, with a main home offering 4 bedrooms and 2 bathrooms, and a second unit offering 2 bedrooms and 1 bathroom. The property is designed for dual rental income with two distinct unit configurations.
The location is described as just steps from Marlins Stadium, with convenient access to major highways and nearby dining and entertainment.
Offered for sale as an income-producing multi-family asset with two separate units on-site.
The location is described as just steps from Marlins Stadium, with convenient access to major highways and nearby dining and entertainment.
Offered for sale as an income-producing multi-family asset with two separate units on-site.
Key Highlights
- 1988‑built income‑producing multi‑family property with two separate units
- Unit 1: 4‑bedroom, 2‑bath main home
- Unit 2: 2‑bedroom, 1‑bath home
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
$50,781
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
6.77%
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%
$1,015,620
$1.0M
Cap Rate 7%
$725,443
$725.4K
Cap Rate 9%
$564,233
$564.2K
Market Conditions
NOI Build-Up for 2,532 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
$77.5K $30.60/SF
− Vacancy
−$4.9K −$1.95/SF
EGI
$72.5K $28.65/SF
− OpEx
−$21.8K −$8.60/SF
NOI
$50.8K $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%
$1,015,620
Cap Rate 7%
$725,443
Cap Rate 9%
$564,233
Alternative Uses
Best Use
Multifamily LT 5
$725.4K
$634.8K – $846.4K
NOI $50,781 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$668.2K
$584.7K – $779.6K
NOI $46,775 @ 7.0% cap · market cap 6.24%
Theoretical Best
Specialty Retail
$1.71M
$1.50M – $1.99M
NOI $119,638 @ 7.0% cap · market cap 15.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,605
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
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 separate units include a 4-bedroom, 2-bath home and a 2-bedroom, 1-bath home.
Where is this duplex located?
The property is located at 2029 Northwest 5th Street Miami, FL.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: 1988‑built income‑producing multi‑family property with two separate units; Unit 1: 4‑bedroom, 2‑bath main home; Unit 2: 2‑bedroom, 1‑bath home
