Two-Home Duplex
For Sale
$950,000
2426 SW 109th Court, Miami, FL 33165
Paired one-story residences offer separate living spaces, private outdoor areas, and proximity to Florida International University.
Property Size1,708 SF
Days on Market12
Property Features for 2426 SW 109th Court
General Information
Standard status
Active
Size
1,708 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4BR/3BA, 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,545
Building Details
Building Size
1,708 SF
Year Built
1981
Buildings
2
Stories
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Stephen J Scarpone · License #0468177
(305) 779-7711
Source:
Silverleafrealtygroup
Added: Aug 31
Changed: Sep 10
Last Checked: Sep 10 at 3:10PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This duplex offering combines two one-story twin homes at 2426 and 2428 SW 109th Court. The primary residence contains 1,980 square feet with four bedrooms and three bathrooms, an open split-bedroom layout, vaulted ceilings, skylights, laminate flooring, and combined living and dining areas. Its updated kitchen features granite countertops and connects to a tiled family room and additional primary suite. The companion home provides three bedrooms and two bathrooms.
Exterior features include a covered tiled patio, fenced yards, storage shed, and fruit trees. Property improvements include central A/C, impact windows, and a new roof being installed. The homes are positioned across from Florida International University and near highways, shopping, dining, parks, public transportation, and Miami International Airport. The 4-bedroom residence is currently leased through January 15, 2027.
Exterior features include a covered tiled patio, fenced yards, storage shed, and fruit trees. Property improvements include central A/C, impact windows, and a new roof being installed. The homes are positioned across from Florida International University and near highways, shopping, dining, parks, public transportation, and Miami International Airport. The 4-bedroom residence is currently leased through January 15, 2027.
Key Highlights
- Two one‑story twin homes offered together as a duplex package
- Primary residence contains 1,980 square feet with 4 bedrooms and 3 bathrooms
- Companion residence includes 3 bedrooms and 2 bathrooms
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
$34,255
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
3.61%
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%
$685,100
$685.1K
Cap Rate 7%
$489,357
$489.4K
Cap Rate 9%
$380,611
$380.6K
Market Conditions
NOI Build-Up for 1,708 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
$52.3K $30.60/SF
− Vacancy
−$3.3K −$1.95/SF
EGI
$48.9K $28.65/SF
− OpEx
−$14.7K −$8.60/SF
NOI
$34.3K $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%
$685,100
Cap Rate 7%
$489,357
Cap Rate 9%
$380,611
Alternative Uses
Best Use
Multifamily LT 5
$489.4K
$428.2K – $570.9K
NOI $34,255 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$450.8K
$394.4K – $525.9K
NOI $31,553 @ 7.0% cap · market cap 3.32%
Theoretical Best
Specialty Retail
$1.15M
$1.01M – $1.35M
NOI $80,704 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
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 - Paired one-story residences offer separate living spaces, private outdoor areas, and proximity to Florida International University.
Where is this duplex located?
The property is located at 2426 SW 109th Court Miami, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two one‑story twin homes offered together as a duplex package; Primary residence contains 1,980 square feet with 4 bedrooms and 3 bathrooms; Companion residence includes 3 bedrooms and 2 bathrooms
