Duplex with Separate
New
For Sale
$699,000
229-230 NW 48th Ct, Miami, FL 33126
Residential Income, Miami, FL
Property Size1,265 SF
Price / SF$552.57
Days on Market5
Property Features for 229-230 NW 48th Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 1
Parking
8
Window features
Blinds
Patio and Porch features
Patio
Exterior features
Fence, Fruit Trees, Lighting, Patio
Fencing
Fenced
Subdivision
3RD ADDN TO PINEHURST VIL
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-06-019-0201
Size
1,265 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
6 54 41 PB 6-169 3RD ADDN TO PINEHURST VILLA LOT 23 LESS E10FT & W5FT FOR ST LOT SIZE 50.000 X 134 OR 18364-1473 1198 4/18451-0805
Tax Annual Amount
9901
Legal Description
6 54 41 PB 6-169 3RD ADDN TO PINEHURST VILLA LOT 23 LESS E10FT & W5FT FOR ST LOT SIZE 50.000 X 134 OR 18364-1473 1198 4/18451-0805
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s), Electric
Amenities
washer/dryer hookups
large yard
outdoor kitchen
Building Details
Year built
1959
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Florida Realty of Miami Corp
(305) 598-5488
Listed By:
Roger Schaeffler · License #3192647
(786) 597-7460
Added: Aug 19
Changed: Aug 23
Last Checked: Aug 23 at 8:06PM
MLS# A12074053
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 1,265-square-foot duplex contains a two-bedroom, two-bath unit and a one-bedroom, one-bath unit. The block-built property was constructed in 1959 and includes tile flooring, fenced outdoor areas, patios, fruit trees, lighting, and an outdoor kitchen. Each residence has its own utility meter, and washer and dryer connections are provided. Recent improvements include a new roof, new electrical panel, and fresh interior paint.
The property is located at 229-230 NW 48th Ct in Miami, with one unit facing NW 48 Ave and the other facing NW 48 Ct. Public sewer service and cable availability are provided. Both units are currently leased on a month-to-month basis, and the property is near beaches, Coral Gables, the 826, and Miami International Airport.
The property is located at 229-230 NW 48th Ct in Miami, with one unit facing NW 48 Ave and the other facing NW 48 Ct. Public sewer service and cable availability are provided. Both units are currently leased on a month-to-month basis, and the property is near beaches, Coral Gables, the 826, and Miami International Airport.
Key Highlights
- Two‑unit duplex with a 2/2 and 1/1 layout
- 1,265 square feet on a 1959 block‑built property
- Separate utility meters for each unit
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
3.63%
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 3.63%
Second Best
Apartment 5plus
$333.8K
$292.1K – $389.5K
NOI $23,369 @ 7.0% cap · market cap 3.34%
Theoretical Best
Specialty Retail
$853.9K
$747.2K – $996.2K
NOI $59,772 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road 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 residential units offer private yards, outdoor kitchen space, and updated electrical and roofing improvements.
Where is this duplex located?
The property is located at 229-230 NW 48th Ct Miami, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2/2 and 1/1 layout; 1,265 square feet on a 1959 block‑built property; Separate utility meters for each unit
