Fully Renovated
For Sale
$722,000
2135 SW 4th St, Miami, FL 33135
Two fully renovated units each with a private fenced patio and outdoor space.
Property Size1,544 SF
Price / SF$467.62
Days on Market169
Property Features for 2135 SW 4th St
General Information
Standard status
Active
Size
1,544 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$10,465
Amenities
Private fenced patios
Beautiful outdoor space
Building Details
Building Size
1,544 SF
Year Built
1924
Tenancy
Multi
Listing Agency:
Beycome of Florida LLC
Listed By:
Steven Koleno · License #3469487
(804) 656-5007
Source:
Casacollectiongroup
Added: Mar 31
Changed: Sep 6
Last Checked: Sep 15 at 8:22AM
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 Beycome of Florida LLC
Investment Insights
Based on property information with market context.
This fully renovated duplex is set up as a two-unit property with each unit configured as a 2 bed / 1 bath layout. The interior and exterior have been updated, supporting a turnkey-ready setup with minimal immediate repair needs. Each unit also features a private fenced patio, giving residents dedicated outdoor space.
The property is located in the Little Havana neighborhood of Miami, Florida. It is offered as a duplex investment opportunity with an investor-friendly layout intended for rental use.
The combination of two separate units, private outdoor space, and recent interior and exterior renovations provides a practical configuration for tenants and an easy-to-operate rental arrangement.
The property is located in the Little Havana neighborhood of Miami, Florida. It is offered as a duplex investment opportunity with an investor-friendly layout intended for rental use.
The combination of two separate units, private outdoor space, and recent interior and exterior renovations provides a practical configuration for tenants and an easy-to-operate rental arrangement.
Key Highlights
- Fully renovated interior and exterior
- Two‑unit duplex with 2 bed / 1 bath layouts
- Private fenced patio 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
$30,966
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
4.29%
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%
$619,320
$619.3K
Cap Rate 7%
$442,371
$442.4K
Cap Rate 9%
$344,067
$344.1K
Market Conditions
NOI Build-Up for 1,544 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
$47.2K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$44.2K $28.65/SF
− OpEx
−$13.3K −$8.60/SF
NOI
$31.0K $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%
$619,320
Cap Rate 7%
$442,371
Cap Rate 9%
$344,067
Alternative Uses
Best Use
Multifamily LT 5
$442.4K
$387.1K – $516.1K
NOI $30,966 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$407.5K
$356.5K – $475.4K
NOI $28,523 @ 7.0% cap · market cap 3.95%
Theoretical Best
Specialty Retail
$1.04M
$911.9K – $1.22M
NOI $72,955 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,661
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two fully renovated units each with a private fenced patio and outdoor space.
Where is this duplex located?
The property is located at 2135 SW 4th St Miami, FL.
What is the asking price?
The asking price for this property is $722,000.
What are key features of this property?
This property features: Fully renovated interior and exterior; Two‑unit duplex with 2 bed / 1 bath layouts; Private fenced patio for each unit
