Duplex with Fenced Private
New
For Sale
$1,100,000
2419 NW 97th Street, Miami, FL 33147
Two separate residences offer three-bedroom layouts, durable finishes, and outdoor space without HOA restrictions.
Property Size2,704 SF
Price / SF$427.68
Days on Market7
Property Features for 2419 NW 97th Street
General Information
Standard status
Active
Size
2,704 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
5700
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$73,200
Taxes and HOA fees
Annual Taxes
$5,500
Amenities
10-foot ceilings
impact windows and doors
built-in closets
porcelain tile flooring
large private yard
fully fenced lot
Building Details
Building Size
2,704 SF
Year Built
2024
Buildings
1
Stories
1
Listing Agency:
Keller Williams Capital Realty
(305) 608-6357
Listed By:
Thomas Bichi · License #3261222
(305) 608-6357
Source:
Laerrealty
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 23 at 2:52AM
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 Keller Williams Capital Realty
Investment Insights
Based on property information with market context.
This duplex contains 2,572 square feet across two residences, with each side offering 3 bedrooms and 2 bathrooms. Interior features include 10-foot ceilings, impact-rated windows and doors, built-in closets, and porcelain tile flooring. Both units are arranged for practical residential use, with a large private yard enclosed by fencing.
The property is located at 2419 NW 97th Street in Miami’s West Little River area and carries zoning designation 5700. There is no HOA, and the duplex is currently generating income. Its two-unit configuration also supports owner-occupancy in one residence while the other is rented, as described in the property information.
The property is located at 2419 NW 97th Street in Miami’s West Little River area and carries zoning designation 5700. There is no HOA, and the duplex is currently generating income. Its two-unit configuration also supports owner-occupancy in one residence while the other is rented, as described in the property information.
Key Highlights
- 2,572 SF duplex with two 3‑bedroom, 2‑bath residences
- Each unit features 10‑foot ceilings, impact windows and doors, and porcelain tile flooring
- Built‑in closets included in both residences
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
$51,583
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
4.69%
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%
$1,031,660
$1.0M
Cap Rate 7%
$736,900
$736.9K
Cap Rate 9%
$573,144
$573.1K
Market Conditions
NOI Build-Up for 2,572 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
$78.7K $30.60/SF
− Vacancy
−$5.0K −$1.95/SF
EGI
$73.7K $28.65/SF
− OpEx
−$22.1K −$8.60/SF
NOI
$51.6K $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%
$1,031,660
Cap Rate 7%
$736,900
Cap Rate 9%
$573,144
Alternative Uses
Best Use
Multifamily LT 5
$736.9K
$644.8K – $859.7K
NOI $51,583 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$678.8K
$593.9K – $791.9K
NOI $47,514 @ 7.0% cap · market cap 4.32%
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,528 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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 - Two separate residences offer three-bedroom layouts, durable finishes, and outdoor space without HOA restrictions.
Where is this duplex located?
The property is located at 2419 NW 97th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 2,572 SF duplex with two 3‑bedroom, 2‑bath residences; Each unit features 10‑foot ceilings, impact windows and doors, and porcelain tile flooring; Built‑in closets included in both residences
