New Construction Duplex with Two
New
For Sale
$785,000
2109 NW 65 ST, Miami, FL 33147
Two residential units feature modern finishes, private laundry closets, and dedicated parking.
Property Size2,300 SF
Days on Market7
Property Features for 2109 NW 65 ST
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$4,088
Building Details
Building Size
2,300 SF
Year Built
2026
Listing Agency:
Keller Williams Eagle Realty
(305) 803-0894
Listed By:
Ivan Rabinovich · License #3276152
Source:
Miamibrokersgroup
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 11 at 12:47PM
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 Keller Williams Eagle Realty
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two separate three-bedroom, two-bathroom residences with contemporary finishes. Each unit includes a tankless water heater, laundry closet, impact windows, stainless steel appliances, and two parking spaces. The property is approved for Airbnb and short-term rental use.
The address places the duplex near Brickell, Downtown, Wynwood, and Miami Beach. Its two-unit configuration supports separate occupancy, with each residence offering its own living space and amenities.
The address places the duplex near Brickell, Downtown, Wynwood, and Miami Beach. Its two-unit configuration supports separate occupancy, with each residence offering its own living space and amenities.
Key Highlights
- Two 3‑bedroom/2‑bathroom units
- New construction completed in 2026
- Airbnb and short‑term rental approved
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
$46,128
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
5.88%
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%
$922,560
$922.6K
Cap Rate 7%
$658,971
$659.0K
Cap Rate 9%
$512,533
$512.5K
Market Conditions
NOI Build-Up for 2,300 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
$70.4K $30.60/SF
− Vacancy
−$4.5K −$1.95/SF
EGI
$65.9K $28.65/SF
− OpEx
−$19.8K −$8.60/SF
NOI
$46.1K $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%
$922,560
Cap Rate 7%
$658,971
Cap Rate 9%
$512,533
Alternative Uses
Best Use
Multifamily LT 5
$659.0K
$576.6K – $768.8K
NOI $46,128 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$607.0K
$531.1K – $708.2K
NOI $42,489 @ 7.0% cap · market cap 5.41%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,676 @ 7.0% cap · market cap 13.84%
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
1,193
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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 residential units feature modern finishes, private laundry closets, and dedicated parking.
Where is this duplex located?
The property is located at 2109 NW 65 ST Miami, FL.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Two 3‑bedroom/2‑bathroom units; New construction completed in 2026; Airbnb and short‑term rental approved
