Two-Unit
New
For Sale
$1,095,000
2428 SW 12th St, Miami, FL 33135
Residential Income, Miami, FL
Property Size1,843 SF
Lot Size0.16 Acres
Price / SF$594.14
Days on Market3
Property Features for 2428 SW 12th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Parking
4
Subdivision
NEW SILVER CREST
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-10-054-0110
Size
1,843 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NEW SILVER CREST PB 17-4 LOT 5 BLK 4 LOT SIZE 50.000 X 138 OR 11643-1804 1282 1
Tax Annual Amount
6176
Legal Description
NEW SILVER CREST PB 17-4 LOT 5 BLK 4 LOT SIZE 50.000 X 138 OR 11643-1804 1282 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1941
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
Luxe Properties
(305) 809-7650
Listed By:
Yudarys Betancourt · License #3238370
(786) 488-1636
Added: Sep 25
Last Checked: Sep 27 at 12:06PM
MLS# A12095678
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.
This 1,843-square-foot duplex contains two units, with independent water and electric meters for each. Built in 1941, the block construction building has ceramic tile flooring, central heating and central air, and a shingle roof. Cable is available, and the property connects to public sewer.
The parcel measures 6,900 square feet in Miami. Its two-unit configuration and separately metered utilities are the primary physical features of the property.
The parcel measures 6,900 square feet in Miami. Its two-unit configuration and separately metered utilities are the primary physical features of the property.
Key Highlights
- Two residential units
- 1,843 square feet of building area on a 6,900‑square‑foot lot
- Separate water and electric meters for each unit
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
$36,962
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
3.38%
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%
$739,240
$739.2K
Cap Rate 7%
$528,029
$528.0K
Cap Rate 9%
$410,689
$410.7K
Market Conditions
NOI Build-Up for 1,843 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
$56.4K $30.60/SF
− Vacancy
−$3.6K −$1.95/SF
EGI
$52.8K $28.65/SF
− OpEx
−$15.8K −$8.60/SF
NOI
$37.0K $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%
$739,240
Cap Rate 7%
$528,029
Cap Rate 9%
$410,689
Alternative Uses
Best Use
Multifamily LT 5
$528.0K
$462.0K – $616.0K
NOI $36,962 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$486.4K
$425.6K – $567.4K
NOI $34,046 @ 7.0% cap · market cap 3.11%
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,083 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate water and electric meters serve each residence on a compact Miami parcel.
Where is this duplex located?
The property is located at 2428 SW 12th St Miami, FL.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Two residential units; 1,843 square feet of building area on a 6,900‑square‑foot lot; Separate water and electric meters for each unit
