2-Unit
New
For Sale
$675,000
235 NE 118th St, Miami, FL 33161
Separate residences include a three-bedroom layout and a second unit with two bedrooms.
Property Size2,318 SF
Price / SF$291.20
Days on Market4
Property Features for 235 NE 118th St
General Information
Standard status
Active
Size
2,318 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,676
Amenities
tile flooring
deck
patio
fruit trees
washer/dryer hookups
separate meters
ample open parking
Building Details
Building Size
2,318 SF
Year Built
1972
Construction
concrete block
Listing Agency:
Align Right Realty K1 Group
Listed By:
Sandra Piquant · License #3405345
(954) 588-7257
Source:
Vanessafrankmiami
Added: Oct 9
Changed: Oct 11
Last Checked: Oct 11 at 9:20AM
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 Align Right Realty K1 Group
Investment Insights
Based on property information with market context.
Built in 1972, this duplex contains two residences totaling approximately 2,318 square feet. The reported unit mix is one residence with three bedrooms and two bathrooms, alongside another with two bedrooms and one bathroom.
Features documented in a prior listing include tile floors, a deck, patio, fruit trees, washer and dryer hookups, separate meters, and open parking. The property is at 235 NE 118th St in Miami, Florida.
Features documented in a prior listing include tile floors, a deck, patio, fruit trees, washer and dryer hookups, separate meters, and open parking. The property is at 235 NE 118th St in Miami, Florida.
Key Highlights
- Two units: one with 3 bedrooms and 2 bathrooms; the other with 2 bedrooms and 1 bathroom
- Approximately 2,318 sq. ft. of living area
- Built in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,489
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$929,780
$929.8K
Cap Rate 7%
$664,129
$664.1K
Cap Rate 9%
$516,544
$516.5K
Market Conditions
NOI Build-Up for 2,318 SF
Gross rent
$70.9K $30.60/SF
− Vacancy
−$4.5K −$1.95/SF
EGI
$66.4K $28.65/SF
− OpEx
−$19.9K −$8.60/SF
NOI
$46.5K $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%
$929,780
Cap Rate 7%
$664,129
Cap Rate 9%
$516,544
Alternative Uses
Best Use
Multifamily LT 5
$664.1K
$581.1K – $774.8K
NOI $46,489 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$611.7K
$535.3K – $713.7K
NOI $42,821 @ 7.0% cap · market cap 6.34%
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.83M
NOI $109,527 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
959
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences include a three-bedroom layout and a second unit with two bedrooms.
Where is this duplex located?
The property is located at 235 NE 118th St 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 units: one with 3 bedrooms and 2 bathrooms; the other with 2 bedrooms and 1 bathroom; Approximately 2,318 sq. ft. of living area; Built in 1972
