Fourplex Income
242 NE 55th Ter Miami, FL 33137
242 NE 55th Ter, Miami, FL, 33137
$1,000,000
For Sale
$1,000,000
MULTI_FAMILY - Miami, FL
Property Size1,620 SF
Price / SF$617.28
Days on Market65
Property Features for 242 NE 55th Ter
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 5
- Rooms
- Bathroom 7, Bedroom 3, Bathroom 3, Bathroom 6, Bathroom 5, Bathroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 8, Bathroom 4, Bedroom 2
- Parking
- 4
- Window features
- Blinds
- Exterior features
- Fence, Lighting
- Fencing
- Fenced
- Standard status
- Active
- APN
- 01-31-13-065-0720
- Size
- 1,620 SF
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- DIXIE HIGHWAY TR PB 5-24 LOT 7 BLK 6 LOT SIZE 50.00 X 95 COC 22644-1737 08 2004 5
- Tax Annual Amount
- 5994
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1953
- Floors in Building
- 1
- Flooring type
- Tile
- Building materials
- Block
- Roof type
- Shingle
Listing agency
Green Lands Realty
(305) 503-4121
Listed by
Silvia Garaza · License #3307649
(786) 267-7248
Added: May 18 Updated: Jul 18 at 1:39AM Checked: Jul 21 at 7:06PM
MLS# A11674866
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.
Offered for sale, this well-maintained multifamily property is described in the public remarks as a duplex that is operating as a fourplex. The property is presented as having multiple spacious units, each with modern finishes and ample natural light.
Located at 242 NE 55th Ter in Miami (Miami-Dade County), the listing notes the property is situated in an opportunity zone. The public remarks further describe a strong rental history with low vacancy rates, along with convenient access to local amenities, parks, public transport, restaurants, and schools.
The listing is positioned as an income-focused addition, with the unit configuration and condition presented as key attributes for day-to-day tenant convenience.
Located at 242 NE 55th Ter in Miami (Miami-Dade County), the listing notes the property is situated in an opportunity zone. The public remarks further describe a strong rental history with low vacancy rates, along with convenient access to local amenities, parks, public transport, restaurants, and schools.
The listing is positioned as an income-focused addition, with the unit configuration and condition presented as key attributes for day-to-day tenant convenience.
Key Highlights
- Duplex operating as a fourplex with multiple bedrooms and bathrooms
- Block construction with tile flooring throughout
- Year built 1953; shingle roof
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.6k | $30.60 |
| − Vacancy | −$3.2k | −$1.95 |
| EGI | $46.4k | $28.65 |
| − OpEx | −$13.9k | −$8.60 |
| NOI | $32.5k | $20.06 |
1,620 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$464.1K
$406.1K – $541.5K
NOI $32,490 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$427.5K
$374.1K – $498.8K
NOI $29,927 @ 7.0% cap · market cap 2.99%
Theoretical Best
Specialty Retail
$1.09M
$956.8K – $1.28M
NOI $76,546 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained multifamily property described as operating as a fourplex with multiple spacious units.
Where is this quadplex located?
The property is located at 242 NE 55th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Duplex operating as a fourplex with multiple bedrooms and bathrooms; Block construction with tile flooring throughout; Year built 1953; shingle roof
