Two-Story Duplex with
For Sale
$999,000
2042 NW 55 Terrace, Miami, FL 33142
Two residences feature three bedrooms, two baths, expansive terraces, and large-format stone tile finishes.
Property Size2,920 SF
Price / SF$342.12
Days on Market213
Property Features for 2042 NW 55 Terrace
General Information
Standard status
Active
Size
2,920 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$73,200
Taxes and HOA fees
Annual Taxes
$1,704
Building Details
Building Size
2,920 SF
Year Built
2026
Buildings
1
Stories
2
Construction
Concrete Block
Listing Agency:
Florida Bankers Realty, Inc.
(305) 753-6006
Listed By:
Suleman Jivani · License #3034813
(305) 753-6006
Source:
Silverleafrealtygroup
Added: Jan 13
Changed: Aug 4
Last Checked: Aug 13 at 11:24AM
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 Florida Bankers Realty, Inc.
Investment Insights
Based on property information with market context.
This two-story duplex contains one residence on each floor, creating a straightforward configuration for residential income use. Both units offer three bedrooms and two bathrooms, along with large terraces and 48X48 stone tile flooring. The building uses concrete block construction extending to the roof and was built in 2026. Total interior area is 2920 Sq. Feet.
The property is located at 2042 NW 55 Terrace in Miami, Florida 33142. Both residences are currently rented to Sec-8 tenants, while water and electric service are paid by the tenants. The two-unit layout, separate floor placement, and recently built construction provide the core physical profile of the asset.
The property is located at 2042 NW 55 Terrace in Miami, Florida 33142. Both residences are currently rented to Sec-8 tenants, while water and electric service are paid by the tenants. The two-unit layout, separate floor placement, and recently built construction provide the core physical profile of the asset.
Key Highlights
- Two‑story duplex with 1 unit per floor
- Each unit includes 3 Bed 2 Bath
- Large terraces accompany both residences
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
$58,562
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
5.86%
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%
$1,171,240
$1.2M
Cap Rate 7%
$836,600
$836.6K
Cap Rate 9%
$650,689
$650.7K
Market Conditions
NOI Build-Up for 2,920 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
$89.4K $30.60/SF
− Vacancy
−$5.7K −$1.95/SF
EGI
$83.7K $28.65/SF
− OpEx
−$25.1K −$8.60/SF
NOI
$58.6K $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%
$1,171,240
Cap Rate 7%
$836,600
Cap Rate 9%
$650,689
Alternative Uses
Best Use
Multifamily LT 5
$836.6K
$732.0K – $976.0K
NOI $58,562 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$770.6K
$674.3K – $899.0K
NOI $53,942 @ 7.0% cap · market cap 5.40%
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,971 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
972
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
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?
Duplex - Two residences feature three bedrooms, two baths, expansive terraces, and large-format stone tile finishes.
Where is this duplex located?
The property is located at 2042 NW 55 Terrace Miami, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two‑story duplex with 1 unit per floor; Each unit includes 3 Bed 2 Bath; Large terraces accompany both residences
