Three-Unit Residential
For Sale
$972,673
240 NE 110th Ter, Miami, FL 33161
A five-bedroom main residence is paired with two detached rental units, currently leased month to month.
Property Size2,649 SF
Price / SF$367.18
Days on Market12
Property Features for 240 NE 110th Ter
General Information
Standard status
Active
Size
2,649 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
NEED A BIT OF TLC
Units
Unit Mix
1 x 5BR/2BA, 1 x 1BR/1BA, 1 x studio/1BA
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$16,598
Building Details
Building Size
2,649 SF
Year Built
1940
Buildings
3
Listing Agency:
United Realty Group Inc
Listed By:
Magalie Almeda-Dumay · License #3037819
(305) 244-8982
Source:
Casacollectiongroup
Added: Oct 20
Changed: Oct 31
Last Checked: Oct 31 at 3:26AM
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 United Realty Group Inc
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Investment Insights
Based on property information with market context.
This triplex includes a front residence with five bedrooms, two full bathrooms, a living room, dining room, and family room. Two detached units sit behind the main house: one offers a bedroom and full bathroom, while the other is a studio with a full bathroom. The property contains 2,649 square feet and dates to 1940. Both detached units are rented on a month-to-month basis.
Recent improvements include a metal roof and exterior paint. The property needs some updating, allowing a new owner to address the interiors and finishes to their preferences.
Recent improvements include a metal roof and exterior paint. The property needs some updating, allowing a new owner to address the interiors and finishes to their preferences.
Key Highlights
- Three residential units: a five‑bedroom, two‑bath main house, one‑bedroom unit, and studio
- Detached rear units are both rented month to month
- 2,649 square feet; built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,127
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,062,540
$1.1M
Cap Rate 7%
$758,957
$759.0K
Cap Rate 9%
$590,300
$590.3K
Market Conditions
NOI Build-Up for 2,649 SF
Gross rent
$81.1K $30.60/SF
− Vacancy
−$5.2K −$1.95/SF
EGI
$75.9K $28.65/SF
− OpEx
−$22.8K −$8.60/SF
NOI
$53.1K $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%
$1,062,540
Cap Rate 7%
$758,957
Cap Rate 9%
$590,300
Alternative Uses
Best Use
Multifamily LT 5
$759.0K
$664.1K – $885.5K
NOI $53,127 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$699.1K
$611.7K – $815.6K
NOI $48,936 @ 7.0% cap · market cap 5.03%
Theoretical Best
Specialty Retail
$1.79M
$1.56M – $2.09M
NOI $125,166 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Triplex - A five-bedroom main residence is paired with two detached rental units, currently leased month to month.
Where is this triplex located?
The property is located at 240 NE 110th Ter Miami, FL.
What is the asking price?
The asking price for this property is $972,673.
What are key features of this property?
This property features: Three residential units: a five‑bedroom, two‑bath main house, one‑bedroom unit, and studio; Detached rear units are both rented month to month; 2,649 square feet; built in 1940
