Duplex With Separate
For Sale
$675,000
229-230 NW 48th Court, Miami, FL 33126
Two residences support an owner-occupant arrangement or continued month-to-month leasing.
Property Size1,265 SF
Price / SF$533.60
Days on Market55
Property Features for 229-230 NW 48th Court
General Information
Standard status
Active
Size
1,265 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
washer/dryer hookups
outdoor kitchen
large yard
Building Details
Year Built
1959
Listing Agency:
Florida Realty of Miami Corp
(305) 598-5488
Listed By:
Roger Schaeffler · License #3192647
(786) 597-7460
Source:
Lehmannflorida
Added: Aug 19
Changed: Oct 11
Last Checked: Oct 11 at 7:22AM
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 Florida Realty of Miami Corp
Investment Insights
Based on property information with market context.
This Miami duplex contains two separate residences: one configured as a two-bedroom, two-bath unit and the other as a one-bedroom, one-bath unit. The property includes 1,265 square feet, separate utility meters, washer and dryer hookups, and large yards for both units. An outdoor kitchen adds another functional amenity, while recent improvements include a new roof, new electrical panel, and fresh interior paint. No association is reported.
Built in 1959, the property is located at 229-230 NW 48th Court in Miami, Florida. The address provides access to beaches, Coral Gables, the 826, and Miami International Airport. Both residences are currently leased on a month-to-month basis, with the existing configuration also supporting occupancy of one unit while leasing the other.
Built in 1959, the property is located at 229-230 NW 48th Court in Miami, Florida. The address provides access to beaches, Coral Gables, the 826, and Miami International Airport. Both residences are currently leased on a month-to-month basis, with the existing configuration also supporting occupancy of one unit while leasing the other.
Key Highlights
- Two‑unit configuration with 2/2 and 1/1 residences
- 1,265 square feet with separate utility meters
- New roof and electrical panel; freshly painted
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,370
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,400
$507.4K
Cap Rate 7%
$362,429
$362.4K
Cap Rate 9%
$281,889
$281.9K
Market Conditions
NOI Build-Up for 1,265 SF
Gross rent
$38.7K $30.60/SF
− Vacancy
−$2.5K −$1.95/SF
EGI
$36.2K $28.65/SF
− OpEx
−$10.9K −$8.60/SF
NOI
$25.4K $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 Rate 5%
$507,400
Cap Rate 7%
$362,429
Cap Rate 9%
$281,889
Alternative Uses
Best Use
Multifamily LT 5
$362.4K
$317.1K – $422.8K
NOI $25,370 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$333.8K
$292.1K – $389.5K
NOI $23,369 @ 7.0% cap · market cap 3.46%
Theoretical Best
Specialty Retail
$853.9K
$747.2K – $996.2K
NOI $59,772 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,133
Businesses Nearby
Explore this area
Business Placement
Demographics for 33126, FL
48,751
Population
19,725
Households
2.5
Avg Household Size
44
Median Age
28%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
9,028
Density / Sq Mi
$55,722
Median Household Income
$32,607
Median Earnings
$1,651
Median Rent
$299,800
Median Home Value
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 support an owner-occupant arrangement or continued month-to-month leasing.
Where is this duplex located?
The property is located at 229-230 NW 48th Court 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: Two‑unit configuration with 2/2 and 1/1 residences; 1,265 square feet with separate utility meters; New roof and electrical panel; freshly painted
