Updated Multifamily Income
For Sale
$997,777
2121 Northwest 14th Street, Miami, FL 33125
Renovated multifamily with new flat roof, porcelain flooring, new bathrooms and kitchens, and an updated electrical system.
Property Size2,270 SF
Price / SF$439.55
Days on Market181
Property Features for 2121 Northwest 14th Street
General Information
Standard status
Active
Size
2,270 SF
Property subtype
Multi-Family Income / Duplex
Taxes and HOA fees
Annual Taxes
$11,484
Building Details
Year Built
1954
Listing Agency:
Tower Team Realty, LLC
Listed By:
Yudierkys Estepe · License #3468675
(786) 233-4959
Source:
Compass
Added: Mar 12
Changed: Aug 8
Last Checked: Jul 23 at 2:01PM
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 Tower Team Realty, LLC
Investment Insights
Based on property information with market context.
This multifamily residential income property offers updated interior finishes and roof improvements. The flat roof was made new, while the tiled roof is existing. Inside, units feature porcelain flooring, with new bathrooms and new kitchens. An updated electrical system is also included.
The property is described as being in a high-demand area near main roads and transportation, with nearby shops and the Miami River.
The available information characterizes the units as spacious and well laid out, supporting a tenant-ready configuration focused on practical day-to-day living.
The property is described as being in a high-demand area near main roads and transportation, with nearby shops and the Miami River.
The available information characterizes the units as spacious and well laid out, supporting a tenant-ready configuration focused on practical day-to-day living.
Key Highlights
- Renovated multifamily built in 1954
- Flat roof replaced (tiled roof noted as existing)
- Porcelain flooring and updated electrical system
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
$45,526
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
4.56%
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%
$910,520
$910.5K
Cap Rate 7%
$650,371
$650.4K
Cap Rate 9%
$505,844
$505.8K
Market Conditions
NOI Build-Up for 2,270 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
$69.5K $30.60/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$65.0K $28.65/SF
− OpEx
−$19.5K −$8.60/SF
NOI
$45.5K $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%
$910,520
Cap Rate 7%
$650,371
Cap Rate 9%
$505,844
Alternative Uses
Best Use
Multifamily LT 5
$650.4K
$569.1K – $758.8K
NOI $45,526 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$599.1K
$524.2K – $698.9K
NOI $41,935 @ 7.0% cap · market cap 4.20%
Theoretical Best
Specialty Retail
$1.53M
$1.34M – $1.79M
NOI $107,259 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,559
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 - Renovated multifamily with new flat roof, porcelain flooring, new bathrooms and kitchens, and an updated electrical system.
Where is this duplex located?
The property is located at 2121 Northwest 14th Street Miami, FL.
What is the asking price?
The asking price for this property is $997,777.
What are key features of this property?
This property features: Renovated multifamily built in 1954; Flat roof replaced (tiled roof noted as existing); Porcelain flooring and updated electrical system
