Fully Renovated Turnkey
224 Northeast 111th Street Miami, FL 33161
For Sale
$675,000
Duplex offers two furnished 3BR/1BA units with terrazzo floors and shared washer/dryer.
Property Size1,484 SF
Price / SF$454.85
Days on Market64
Property Features for 224 Northeast 111th Street
General Information
- Standard status
- Active
- Size
- 1,484 SF
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1947
Listing Agency:
Cosmo International Investment Group
(786) 462-6766
Listed By:
Emmanuel Aldabe · License #3059018
(786) 462-6766
Source:
Compass
Added: May 21
Changed: Jul 21
Last Checked: Jul 23 at 8:09AM
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 Cosmo International Investment Group
Investment Insights
Based on property information with market context.
Fully furnished and fully renovated duplex featuring two 3BD/1BA units. Interior finishes include polished terrazzo floors throughout. Both units share a washer/dryer located at the back of the property. Major upgrades completed in 2025 include a new roof, new electrical and plumbing, new appliances, and two new A/C systems, supporting a turnkey presentation for buyers.
The property is located at 224 Northeast 111th Street, Miami, FL 33161 and sits directly across from Barry University. It is currently used as an Airbnb, with flexibility for use as short-term or long-term rentals based on the existing setup.
With two separate residential units, the layout supports independent living while maintaining shared laundry facilities on-site.
The property is located at 224 Northeast 111th Street, Miami, FL 33161 and sits directly across from Barry University. It is currently used as an Airbnb, with flexibility for use as short-term or long-term rentals based on the existing setup.
With two separate residential units, the layout supports independent living while maintaining shared laundry facilities on-site.
Key Highlights
- Duplex built in 1947 with two furnished 3BR/1BA units
- Polished terrazzo floors throughout both units
- Major upgrades completed in 2025: new roof, electrical, plumbing, appliances, and two new A/C systems
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.4k | $30.60 |
| − Vacancy | −$2.9k | −$1.95 |
| EGI | $42.5k | $28.65 |
| − OpEx | −$12.8k | −$8.60 |
| NOI | $29.8k | $20.06 |
1,484 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$425.2K
$372.0K – $496.0K
NOI $29,762 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$391.6K
$342.7K – $456.9K
NOI $27,415 @ 7.0% cap · market cap 4.06%
Theoretical Best
Specialty Retail
$1.00M
$876.5K – $1.17M
NOI $70,120 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex offers two furnished 3BR/1BA units with terrazzo floors and shared washer/dryer.
Where is this duplex located?
The property is located at 224 Northeast 111th Street Miami, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Duplex built in 1947 with two furnished 3BR/1BA units; Polished terrazzo floors throughout both units; Major upgrades completed in 2025: new roof, electrical, plumbing, appliances, and two new A/C systems
