Renovated Duplex Income
For Sale
$499,000
Pending
2480 NW 139th Street, Opa Locka, FL 33054
Renovated duplex with updated kitchens, modern bathrooms, tile floors, impact windows, and separate meters.
Property Size1,288 SF
Days on Market118
Property Features for 2480 NW 139th Street
General Information
Standard status
Pending
Size
1,288 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
0100
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,666
Building Details
Building Size
1,288 SF
Year Built
1958
Stories
1
Listing Agency:
M-Sec Realty, LLC
Listed By:
Louis R Ponce · License #3233364
(786) 312-8652
Source:
Laerrealty
Added: May 14
Changed: Aug 23
Last Checked: Jul 24 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 M-Sec Realty, LLC
Investment Insights
Based on property information with market context.
This renovated duplex is positioned for strong income use, featuring gorgeous tile floors throughout the units, modern style bathrooms, and updated kitchens. Additional improvements include a newer roof and impact windows. The property also has separate meters for the units.
The duplex sits on a large lot with a new fence surrounding the property.
With its renovated interior and unit-level metering, this duplex offers a straightforward residential income setup within the listed configuration.
The duplex sits on a large lot with a new fence surrounding the property.
With its renovated interior and unit-level metering, this duplex offers a straightforward residential income setup within the listed configuration.
Key Highlights
- Renovated duplex built in 1958 in Opa‑Locka
- Updated kitchens and modern style bathrooms in both units
- Tile floors throughout the units
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
$23,284
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
4.67%
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%
$465,680
$465.7K
Cap Rate 7%
$332,629
$332.6K
Cap Rate 9%
$258,711
$258.7K
Market Conditions
NOI Build-Up for 1,161 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
$35.5K $30.60/SF
− Vacancy
−$2.3K −$1.95/SF
EGI
$33.3K $28.65/SF
− OpEx
−$10.0K −$8.60/SF
NOI
$23.3K $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%
$465,680
Cap Rate 7%
$332,629
Cap Rate 9%
$258,711
Alternative Uses
Best Use
Multifamily LT 5
$332.6K
$291.1K – $388.1K
NOI $23,284 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$306.4K
$268.1K – $357.5K
NOI $21,448 @ 7.0% cap · market cap 4.30%
Theoretical Best
Specialty Retail
$783.7K
$685.7K – $914.3K
NOI $54,858 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 33054, FL
30,352
Population
10,263
Households
3
Avg Household Size
37
Median Age
10%
College-Educated
75%
High-School Grad
8.4 sq mi
ZIP Area
3,613
Density / Sq Mi
$42,779
Median Household Income
$31,147
Median Earnings
$1,346
Median Rent
$291,700
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 - Renovated duplex with updated kitchens, modern bathrooms, tile floors, impact windows, and separate meters.
Where is this duplex located?
The property is located at 2480 NW 139th Street Opa Locka, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Renovated duplex built in 1958 in Opa‑Locka; Updated kitchens and modern style bathrooms in both units; Tile floors throughout the units
