Updated Duplex with Separate
For Sale
$580,000
2126 Northwest 47th Terrace, Miami, FL 33142
Two-unit property with refreshed exterior finishes, gated parking, and one occupied residence.
Property Size1,560 SF
Price / SF$371.79
Days on Market269
Property Features for 2126 Northwest 47th Terrace
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Multi-Family Income / Duplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,204
Building Details
Year Built
1963
Buildings
1
Listing Agency:
London Foster Realty
(305) 479-1179
Listed By:
Juan Yeje · License #3307518
(305) 479-1179
Source:
Compass
Added: Dec 6, 2025
Changed: Aug 31
Last Checked: Aug 31 at 9:51PM
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 London Foster Realty
Investment Insights
Based on property information with market context.
This duplex contains 1,560 square feet and was built in 1963. Recent improvements include a new roof, updated windows, fresh paint, and stucco. The two residences have separate HVAC systems and individual FPL meters, while water service is shared. The front residence is a vacant 3/1, and the rear residence is leased. The front unit is partially furnished, while the rear unit is unfurnished.
Parking is available within the gated area and along the front of the property. The address is in Miami, Florida, near highways and hospitals. The property information also identifies potential relevance for travel nurses, medical students, and a small recovery home, subject to applicable requirements and approvals.
Parking is available within the gated area and along the front of the property. The address is in Miami, Florida, near highways and hospitals. The property information also identifies potential relevance for travel nurses, medical students, and a small recovery home, subject to applicable requirements and approvals.
Key Highlights
- 1,560‑square‑foot duplex built in 1963
- New roof, updated windows, fresh paint, and stucco
- Separate HVAC systems and FPL meters for each unit
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
$31,287
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
5.39%
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%
$625,740
$625.7K
Cap Rate 7%
$446,957
$447.0K
Cap Rate 9%
$347,633
$347.6K
Market Conditions
NOI Build-Up for 1,560 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
$47.7K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$44.7K $28.65/SF
− OpEx
−$13.4K −$8.60/SF
NOI
$31.3K $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%
$625,740
Cap Rate 7%
$446,957
Cap Rate 9%
$347,633
Alternative Uses
Best Use
Multifamily LT 5
$447.0K
$391.1K – $521.5K
NOI $31,287 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$411.7K
$360.2K – $480.3K
NOI $28,819 @ 7.0% cap · market cap 4.97%
Theoretical Best
Specialty Retail
$1.05M
$921.4K – $1.23M
NOI $73,711 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,031
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed exterior finishes, gated parking, and one occupied residence.
Where is this duplex located?
The property is located at 2126 Northwest 47th Terrace Miami, FL.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 1,560‑square‑foot duplex built in 1963; New roof, updated windows, fresh paint, and stucco; Separate HVAC systems and FPL meters for each unit
