Duplex with Two Separate
For Sale
Under Contract
$549,000
2341 SW 9th St, Miami, FL 33135
MULTI_FAMILY - Miami, FL
Property Size1,380 SF
Price / SF$397.83
Days on Market83
Property Features for 2341 SW 9th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
3900
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
Parking
6
Subdivision
BRYAN PARK
Lot features
< 1/4 Acre
Directions
Please use gps/google maps
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Active Under Contract
APN
01-41-10-014-0440
Size
1,380 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BRYAN PARK PB 5-69 LOT 23 BLK 2 LOT SIZE 5750 SQUARE FEET OR 18681-2716 05 1999 1 COC 26380-1114 04 2008 5
Tax Annual Amount
16283
Legal Description
BRYAN PARK PB 5-69 LOT 23 BLK 2 LOT SIZE 5750 SQUARE FEET OR 18681-2716 05 1999 1 COC 26380-1114 04 2008 5
Utilities
Sewer type
Public Sewer, Septic Tank
Building Details
Year built
1926
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Flat, Barrel
Listing Agency:
Keller Williams Elite Properties · Keller Williams Realty
(305) 931-2224
Listed By:
Richard Flor · License #3549674
(305) 724-2506
Added: May 27
Changed: Aug 14
Last Checked: Aug 17 at 9:06AM
MLS# A11949596
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 T4-R zoned duplex includes two separate structures on the property. The main house provides three bedrooms and two full baths, while the second structure offers one bedroom and one bath. Interior finishes include tile flooring. Construction is described as block, and the property was built in 1926.
Located at 2341 SW 9th St, Miami, FL 33135, the property is described as directly across from Jose Lincoln-Marti School and positioned minutes from Calle Ocho. The listing also notes easy access to Downtown Miami, Brickell, and major highways.
Site utilities are identified as both septic tank and public sewer, and the roofs are described as barrel and flat. With two distinct living areas, the duplex configuration can support flexible tenant or buyer scenarios within the property’s T4-R zoning context.
Located at 2341 SW 9th St, Miami, FL 33135, the property is described as directly across from Jose Lincoln-Marti School and positioned minutes from Calle Ocho. The listing also notes easy access to Downtown Miami, Brickell, and major highways.
Site utilities are identified as both septic tank and public sewer, and the roofs are described as barrel and flat. With two distinct living areas, the duplex configuration can support flexible tenant or buyer scenarios within the property’s T4-R zoning context.
Key Highlights
- Two separate structures duplex
- Main house: 3 bedrooms and 2 full baths
- Second structure: 1 bedroom and 1 bath
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
$27,677
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
5.04%
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%
$553,540
$553.5K
Cap Rate 7%
$395,386
$395.4K
Cap Rate 9%
$307,522
$307.5K
Market Conditions
NOI Build-Up for 1,380 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
$42.2K $30.60/SF
− Vacancy
−$2.7K −$1.95/SF
EGI
$39.5K $28.65/SF
− OpEx
−$11.9K −$8.60/SF
NOI
$27.7K $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%
$553,540
Cap Rate 7%
$395,386
Cap Rate 9%
$307,522
Alternative Uses
Best Use
Multifamily LT 5
$395.4K
$346.0K – $461.3K
NOI $27,677 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$364.2K
$318.7K – $424.9K
NOI $25,493 @ 7.0% cap · market cap 4.64%
Theoretical Best
Specialty Retail
$931.5K
$815.1K – $1.09M
NOI $65,206 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - T4-R zoned duplex with tile flooring, block construction, and two separate structures: a 3/2 main home plus a 1/1 structure.
Where is this duplex located?
The property is located at 2341 SW 9th St Miami, FL.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two separate structures duplex; Main house: 3 bedrooms and 2 full baths; Second structure: 1 bedroom and 1 bath
