Updated Duplex with Fenced
For Sale
$620,000
2137 NW 99th Ter, Miami, FL 33147
Residential Income, Miami, FL
Property Size1,890 SF
Price / SF$328.04
Days on Market49
Property Features for 2137 NW 99th Ter
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5100
Bedrooms
5
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 5
Parking
2
Subdivision
WOODLAND ADDN
Lot features
< 1/4 Acre
Directions
Follow I-75 S and FL-924 E/Florida 924 Gratigny Pkwy to NW 22nd Ave in Westview Continue on NW 22nd Ave. Drive to NW 99th Terrace in West Little River
Standard status
Active
APN
30-31-03-019-0370
Size
1,890 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
3 53 41 WOODLAND ADD PB 6-85 LOT 8 BLK 9 LOT SIZE 50 X 140 OR 15275-1755 1191 1
Tax Annual Amount
4733
Legal Description
3 53 41 WOODLAND ADD PB 6-85 LOT 8 BLK 9 LOT SIZE 50 X 140 OR 15275-1755 1191 1
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
fenced backyard
mature fruit trees
off-street parking
Building Details
Year built
1971
Floors in Building
1
Flooring type
Hardwood, Tile, Wood
Building materials
Block
Roof type
Flat
Listing Agency:
EXP Realty, LLC.
(888) 883-8509
Listed By:
Melissa Miller · License #3022898
(954) 388-7653
Added: Jul 29
Changed: Sep 15
Last Checked: Sep 15 at 11:06AM
MLS# A12060324
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,890-square-foot duplex, built in 1971, includes two residential units with functional living areas and spacious bedrooms. Unit 1 has updated, well-kept interiors and is currently rented below market rent. Unit 2 includes an open living area, luxury plank flooring, recessed lighting, gray shaker-style cabinetry, quartz-style countertops, stainless steel appliances, and a bathroom with contemporary tile accents.
The property has a newer 3 year roof, block construction, a flat roof, electric heating, and wall/window cooling. A large fenced backyard with mature fruit trees provides outdoor space, while ample off-street parking supports the two-unit configuration. The property is located in Miami near major highways, shopping, dining, schools, and public transportation.
The property has a newer 3 year roof, block construction, a flat roof, electric heating, and wall/window cooling. A large fenced backyard with mature fruit trees provides outdoor space, while ample off-street parking supports the two-unit configuration. The property is located in Miami near major highways, shopping, dining, schools, and public transportation.
Key Highlights
- 1,890 square feet across two residential units
- Unit 2 features gray shaker‑style cabinetry, quartz‑style countertops, and stainless steel appliances
- Unit 1 is currently rented below market rent
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
$37,905
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
6.11%
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%
$758,100
$758.1K
Cap Rate 7%
$541,500
$541.5K
Cap Rate 9%
$421,167
$421.2K
Market Conditions
NOI Build-Up for 1,890 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
$57.8K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$54.1K $28.65/SF
− OpEx
−$16.2K −$8.60/SF
NOI
$37.9K $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%
$758,100
Cap Rate 7%
$541,500
Cap Rate 9%
$421,167
Alternative Uses
Best Use
Multifamily LT 5
$541.5K
$473.8K – $631.8K
NOI $37,905 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$498.8K
$436.4K – $581.9K
NOI $34,915 @ 7.0% cap · market cap 5.63%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,303 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
666
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 upgraded interiors, outdoor space, and off-street parking in Miami.
Where is this duplex located?
The property is located at 2137 NW 99th Ter Miami, FL.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 1,890 square feet across two residential units; Unit 2 features gray shaker‑style cabinetry, quartz‑style countertops, and stainless steel appliances; Unit 1 is currently rented below market rent
