Duplex With Separate
New
For Sale
$1,280,000
2232 SW 13th St, Miami, FL 33145
Residential Income, Miami, FL
Property Size3,111 SF
Price / SF$411.44
Days on Market2
Property Features for 2232 SW 13th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
5
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 4, Bedroom 5, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 3
Parking
8
Subdivision
BYAN PARK
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-10-014-2490
Size
3,111 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BRYAN PARK PB 5-69 LOT 5 LESS S10FT FOR R/W BLK 13 LOT SIZE 50.000 X 133 OR 12586-4352 0685 1 JOHN BRUCELLARIA &W LENA
Tax Annual Amount
15174
Legal Description
BRYAN PARK PB 5-69 LOT 5 LESS S10FT FOR R/W BLK 13 LOT SIZE 50.000 X 133 OR 12586-4352 0685 1 JOHN BRUCELLARIA &W LENA
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Building Details
Year built
1937
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle, Barrel
Listing Agency:
Delphi Investment Realty
78638801107
Listed By:
Wallys Sueiro · License #3349125
(786) 395-3171
Added: Sep 20
Last Checked: Sep 21 at 10:06AM
MLS# A12092485
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 3,111-square-foot duplex, built in 1937, contains two distinct residences with separate entrances oriented toward different streets. The larger unit offers a 3/3 layout, with en-suite bathrooms and walk-in closets serving each bedroom, along with a spacious kitchen, side patio, laundry room, washer and dryer, and additional storage. The second residence provides a 2/1 layout, private entry, its own laundry equipment, and dedicated parking. Both units are currently tenant-occupied.
Each residence has its own parking area with capacity for up to four vehicles. The property is in Miami’s 33145 postal area, near Calle Ocho, Little Havana, Coral Gables, Brickell, Downtown Miami, Coconut Grove, Miami International Airport, restaurants, shops, cultural centers, universities, major roadways, and public transportation. The property has no association and is located in a non-flood zone. Construction includes block materials, tile flooring, public sewer, cable availability, and a shingle and barrel roof.
Each residence has its own parking area with capacity for up to four vehicles. The property is in Miami’s 33145 postal area, near Calle Ocho, Little Havana, Coral Gables, Brickell, Downtown Miami, Coconut Grove, Miami International Airport, restaurants, shops, cultural centers, universities, major roadways, and public transportation. The property has no association and is located in a non-flood zone. Construction includes block materials, tile flooring, public sewer, cable availability, and a shingle and barrel roof.
Key Highlights
- 3,111‑square‑foot duplex with two separate residences
- Larger unit has a 3/3 layout with en‑suite bathrooms and walk‑in closets
- Second residence offers a 2/1 layout with private entry and dedicated parking
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
$62,393
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
4.87%
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%
$1,247,860
$1.2M
Cap Rate 7%
$891,329
$891.3K
Cap Rate 9%
$693,256
$693.3K
Market Conditions
NOI Build-Up for 3,111 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
$95.2K $30.60/SF
− Vacancy
−$6.1K −$1.95/SF
EGI
$89.1K $28.65/SF
− OpEx
−$26.7K −$8.60/SF
NOI
$62.4K $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%
$1,247,860
Cap Rate 7%
$891,329
Cap Rate 9%
$693,256
Alternative Uses
Best Use
Multifamily LT 5
$891.3K
$779.9K – $1.04M
NOI $62,393 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$821.0K
$718.4K – $957.9K
NOI $57,471 @ 7.0% cap · market cap 4.49%
Theoretical Best
Specialty Retail
$2.10M
$1.84M – $2.45M
NOI $146,996 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
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 residences feature independent access, dedicated parking areas, and separate laundry facilities.
Where is this duplex located?
The property is located at 2232 SW 13th St Miami, FL.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: 3,111‑square‑foot duplex with two separate residences; Larger unit has a 3/3 layout with en‑suite bathrooms and walk‑in closets; Second residence offers a 2/1 layout with private entry and dedicated parking
