Updated Duplex with Central
For Sale
Under Contract
$550,000
2459 NW 28th ST, Miami, FL 33142
MULTI_FAMILY - Miami, FL
Property Size1,445 SF
Price / SF$380.62
Days on Market73
Property Features for 2459 NW 28th ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1
Parking
4
Subdivision
MELROSE HEIGHTS 2ND SEC
Lot features
< 1/4 Acre
Standard status
Active Under Contract
APN
01-31-27-016-0000
Size
1,445 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
MELROSE HGTS 2ND SEC PB 19 44 LOTS 27 & 28 BLK 14 LOT SIZE 50 X 135 OR 9620 1113
Tax Annual Amount
7859
Legal Description
MELROSE HGTS 2ND SEC PB 19 44 LOTS 27 & 28 BLK 14 LOT SIZE 50 X 135 OR 9620 1113
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Building Details
Year built
1947
Floors in Building
1
Building materials
Block
Listing Agency:
Multiple Listing Solutions
(786) 295-7806
Listed By:
Fernando Corona · License #3027785
(786) 295-7806
Added: Jun 6
Changed: Aug 1
Last Checked: Aug 17 at 1:06PM
MLS# A11925018
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 updated duplex offers a spacious 2 bed / 1 bath main house with an additional 1 bed / 1 bath unit attached. The main home includes central A/C, an updated kitchen, walk-in closets, and new floors throughout. The layout can be configured to combine the units for a larger 3 bed / 2 bath home. The property is built with block construction and sits on 1,445 SF total.
The duplex includes a large backyard and is described as move-in ready for immediate income. Utilities listed include cable available, and services include public sewer.
Room inventory includes three bedrooms and two bathrooms across the duplex configuration, supporting flexible living or rental setup.
The duplex includes a large backyard and is described as move-in ready for immediate income. Utilities listed include cable available, and services include public sewer.
Room inventory includes three bedrooms and two bathrooms across the duplex configuration, supporting flexible living or rental setup.
Key Highlights
- 1,445 SF updated duplex with two attached units
- 2 bed / 1 bath main house plus attached 1 bed / 1 bath unit
- Main home with central A/C, updated kitchen, walk‑in closets, and new floors
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
$28,980
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
5.27%
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%
$579,600
$579.6K
Cap Rate 7%
$414,000
$414.0K
Cap Rate 9%
$322,000
$322.0K
Market Conditions
NOI Build-Up for 1,445 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
$44.2K $30.60/SF
− Vacancy
−$2.8K −$1.95/SF
EGI
$41.4K $28.65/SF
− OpEx
−$12.4K −$8.60/SF
NOI
$29.0K $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%
$579,600
Cap Rate 7%
$414,000
Cap Rate 9%
$322,000
Alternative Uses
Best Use
Multifamily LT 5
$414.0K
$362.3K – $483.0K
NOI $28,980 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$381.3K
$333.7K – $444.9K
NOI $26,694 @ 7.0% cap · market cap 4.85%
Theoretical Best
Specialty Retail
$975.4K
$853.5K – $1.14M
NOI $68,277 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,437
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
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 - Updated duplex in Miami-Dade with a spacious 2-bedroom main house and an attached 1-bedroom unit.
Where is this duplex located?
The property is located at 2459 NW 28th ST Miami, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,445 SF updated duplex with two attached units; 2 bed / 1 bath main house plus attached 1 bed / 1 bath unit; Main home with central A/C, updated kitchen, walk‑in closets, and new floors
