Duplex With Separate
New
For Sale
$725,000
229-230 NW 48th Court, Miami, FL 33126
Two residences support an owner-occupant arrangement or continued month-to-month leasing.
Property Size1,599 SF
Price / SF$573.12
Days on Market3
Property Features for 229-230 NW 48th Court
General Information
Standard status
Active
Size
1,599 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
5700
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,901
Amenities
washer/dryer hookups
outdoor kitchen
large yard
Building Details
Building Size
1,599 SF
Year Built
1959
Stories
1
Listing Agency:
Florida Realty of Miami Corp
(786) 597-7460
Listed By:
Roger Schaeffler · License #3192647
(786) 597-7460
Source:
Laerrealty
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 23 at 2:56AM
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 = 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
$25,370
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
3.50%
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%
$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
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
$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 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%
$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 3.50%
Second Best
Apartment 5plus
$333.8K
$292.1K – $389.5K
NOI $23,369 @ 7.0% cap · market cap 3.22%
Theoretical Best
Specialty Retail
$853.9K
$747.2K – $996.2K
NOI $59,772 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
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 $725,000.
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
