2-Unit Remodeled
For Sale
$779,900
2053 Sw 60th Ave, Miami, FL 33155
Separate residences offer flexible occupancy for rental, owner-occupant, or multigenerational living arrangements.
Property Size1,348 SF
Price / SF$578.56
Days on Market11
Property Features for 2053 Sw 60th Ave
General Information
Standard status
Active
Size
1,348 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,044
Listing Agency:
Miami New Realty
(305) 772-9521
Listed By:
Luis Gonzalez · License #0644564
(305) 772-9521
Source:
Exprealty
Added: Aug 13
Changed: Aug 20
Last Checked: Aug 23 at 6:27AM
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 Miami New Realty
Investment Insights
Based on property information with market context.
This duplex contains two distinct residences with separate occupant areas. The first includes 2 bedrooms and 1 bathroom, while the second offers 1 bedroom and 1 bathroom. Both units have undergone remodeling and are described as ready for occupancy, providing a straightforward two-unit configuration for residential use.
The property is located at 2053 SW 60th Ave in Miami, with access to major roads and proximity to shopping, dining, schools, and everyday amenities. Its separate-unit layout supports flexible use for an owner-occupant, extended household, or occupants seeking privacy between residences.
The property is located at 2053 SW 60th Ave in Miami, with access to major roads and proximity to shopping, dining, schools, and everyday amenities. Its separate-unit layout supports flexible use for an owner-occupant, extended household, or occupants seeking privacy between residences.
Key Highlights
- Two separate remodeled units
- Unit 1 includes 2 bedrooms and 1 bathroom
- Unit 2 includes 1 bedroom and 1 bathroom
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
$27,035
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
3.47%
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%
$540,700
$540.7K
Cap Rate 7%
$386,214
$386.2K
Cap Rate 9%
$300,389
$300.4K
Market Conditions
NOI Build-Up for 1,348 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
$41.2K $30.60/SF
− Vacancy
−$2.6K −$1.95/SF
EGI
$38.6K $28.65/SF
− OpEx
−$11.6K −$8.60/SF
NOI
$27.0K $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%
$540,700
Cap Rate 7%
$386,214
Cap Rate 9%
$300,389
Alternative Uses
Best Use
Multifamily LT 5
$386.2K
$337.9K – $450.6K
NOI $27,035 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$355.7K
$311.3K – $415.0K
NOI $24,902 @ 7.0% cap · market cap 3.19%
Theoretical Best
Specialty Retail
$909.9K
$796.2K – $1.06M
NOI $63,694 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
Explore this area
Business Placement
Demographics for 33155, FL
43,695
Population
16,046
Households
2.7
Avg Household Size
45
Median Age
37%
College-Educated
85%
High-School Grad
7.4 sq mi
ZIP Area
5,905
Density / Sq Mi
$79,271
Median Household Income
$41,919
Median Earnings
$1,871
Median Rent
$505,000
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 - Separate residences offer flexible occupancy for rental, owner-occupant, or multigenerational living arrangements.
Where is this duplex located?
The property is located at 2053 Sw 60th Ave Miami, FL.
What is the asking price?
The asking price for this property is $779,900.
What are key features of this property?
This property features: Two separate remodeled units; Unit 1 includes 2 bedrooms and 1 bathroom; Unit 2 includes 1 bedroom and 1 bathroom
