Remodeled Duplex in
For Sale
$1,040,000
241 NW 34th Ter, Miami, FL 33127
Turn-key duplex, ideal for investors, located near Wynwood.
Property Size1,576 SF
Days on Market259
Property Features for 241 NW 34th Ter
General Information
Standard status
Active
Size
1,576 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$17,639
Building Details
Building Size
1,576 SF
Year Built
1939
Stories
2
Listing Agency:
Lifestyle International Realty
(305) 496-0687
Listed By:
Sherry Lebowitz · License #3268355
(305) 496-0687
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:31AM
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 Lifestyle International Realty
Investment Insights
Based on property information with market context.
This fully remodeled duplex is located in Wynwood and is suitable for investors. The property features separate entrances and electric meters, along with modern appliances. The zoning is T4, and the property includes a spacious backyard. Recent upgrades include a newer roof, updated plumbing, impact windows, and a gated driveway. The property is located blocks from Wynwood and Midtown, making it suitable for rentals. The neighboring 4-plex at 251 NW 34th TER is also for sale, presenting a development opportunity.
Key Highlights
- Fully remodeled duplex in prime Wynwood location, ideal for rentals.
- Zoned T4 with extremely spacious backyard, offering development potential.
- Turn‑key property with separate entrances and electric meters.
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
$31,608
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
3.04%
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%
$632,160
$632.2K
Cap Rate 7%
$451,543
$451.5K
Cap Rate 9%
$351,200
$351.2K
Market Conditions
NOI Build-Up for 1,576 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
$48.2K $30.60/SF
− Vacancy
−$3.1K −$1.95/SF
EGI
$45.2K $28.65/SF
− OpEx
−$13.5K −$8.60/SF
NOI
$31.6K $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%
$632,160
Cap Rate 7%
$451,543
Cap Rate 9%
$351,200
Alternative Uses
Best Use
Multifamily LT 5
$451.5K
$395.1K – $526.8K
NOI $31,608 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$415.9K
$363.9K – $485.2K
NOI $29,114 @ 7.0% cap · market cap 2.80%
Theoretical Best
Specialty Retail
$1.06M
$930.8K – $1.24M
NOI $74,467 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,008
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
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 - Turn-key duplex, ideal for investors, located near Wynwood.
Where is this duplex located?
The property is located at 241 NW 34th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,040,000.
What are key features of this property?
This property features: Fully remodeled duplex in prime Wynwood location, ideal for rentals.; Zoned T4 with extremely spacious backyard, offering development potential.; Turn‑key property with separate entrances and electric meters.
