Renovated Duplex with Two
For Sale
$1,100,000
221 SW 78TH Place 221/231, Miami, FL 33144
Two renovated rental units feature private outdoor areas and separate electric meters.
Property Size2,240 SF
Days on Market67
Property Features for 221 SW 78TH Place 221/231
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,448
Amenities
private yard
Building Details
Building Size
2,240 SF
Year Built
2002
Listing Agency:
Beautiful Homes Realty Inc
Listed By:
Shakie J Iskandarian · License #3182857
(561) 212-7942
Source:
Silverleafrealtygroup
Added: Aug 13
Changed: Oct 17
Last Checked: Oct 16 at 3:06PM
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 Beautiful Homes Realty Inc
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Investment Insights
Based on property information with market context.
This 2002-built duplex contains 2,240 square feet arranged as two separate residences, with one unit on each level. Each residence offers three bedrooms and two bathrooms, along with its own private backyard or side-yard area. Renovations have been completed in both units, and separate electric meters support independent utility tracking.
The property is in Miami near Miami International Airport and the Palmetto Expressway. Both units are fully rented, providing an occupied income-producing configuration for a multifamily owner. The property is identified under zoning code 5700.
The property is in Miami near Miami International Airport and the Palmetto Expressway. Both units are fully rented, providing an occupied income-producing configuration for a multifamily owner. The property is identified under zoning code 5700.
Key Highlights
- Two 3‑bedroom, 2‑bath units in a duplex configuration
- 2,240 SF property built in 2002
- Both units have been renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,924
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$898,480
$898.5K
Cap Rate 7%
$641,771
$641.8K
Cap Rate 9%
$499,156
$499.2K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$68.5K $30.60/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$64.2K $28.65/SF
− OpEx
−$19.3K −$8.60/SF
NOI
$44.9K $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 Rate 5%
$898,480
Cap Rate 7%
$641,771
Cap Rate 9%
$499,156
Alternative Uses
Best Use
Multifamily LT 5
$641.8K
$561.6K – $748.7K
NOI $44,924 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$591.1K
$517.3K – $689.7K
NOI $41,380 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,841 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,598
Businesses Nearby
Explore this area
Business Placement
Demographics for 33144, FL
25,814
Population
9,665
Households
2.7
Avg Household Size
48
Median Age
28%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
8,327
Density / Sq Mi
$59,207
Median Household Income
$35,051
Median Earnings
$1,730
Median Rent
$440,600
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
Frequently Asked Questions
What type of property is this?
Duplex - Two renovated rental units feature private outdoor areas and separate electric meters.
Where is this duplex located?
The property is located at 221 SW 78TH Place 221/231 Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units in a duplex configuration; 2,240 SF property built in 2002; Both units have been renovated
