Updated Triplex with Private
For Sale
$1,400,000
2490 SW 17th St, Miami, FL 33145
Three distinct residences offer refreshed interiors, modern bathrooms, and stainless-steel kitchen appliances.
Property Size2,821 SF
Days on Market167
Property Features for 2490 SW 17th St
General Information
Standard status
Active
Size
2,821 SF
Property subtype
Investment
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,209
Building Details
Building Size
2,821 SF
Year Built
1947
Buildings
2
Stories
2
Units
3
Listing Agency:
M-Sec Realty, LLC
Listed By:
Elaine Barbosa · License #3557326
Source:
Elliman
Added: Mar 17
Changed: Aug 29
Last Checked: Aug 30 at 6:13PM
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 triplex at 2490 SW 17th St includes three separately entered residences: a 4-bedroom, 2-bathroom unit, a 2-bedroom, 1-bathroom unit, and a 1-bedroom, 1-bathroom unit. The property combines a one-story building with a separate two-story structure. Improvements include a brand-new roof, impact windows and doors, new flooring throughout the units, updated kitchens with stainless-steel appliances, and modern-style bathrooms.
Built in 1947, the property is identified for multifamily use and is located in Miami, Florida. Its address places the triplex minutes from Downtown, Coral Gables, Little Havana, Miami International Airport, and Miami restaurants and shops. The configuration includes private entrances for each residence and supports year-round rental or Airbnb use as stated in the property information.
Built in 1947, the property is identified for multifamily use and is located in Miami, Florida. Its address places the triplex minutes from Downtown, Coral Gables, Little Havana, Miami International Airport, and Miami restaurants and shops. The configuration includes private entrances for each residence and supports year-round rental or Airbnb use as stated in the property information.
Key Highlights
- Three‑unit configuration with 4‑bedroom, 2‑bathroom; 2‑bedroom, 1‑bathroom; and 1‑bedroom, 1‑bathroom residences
- Brand‑new roof plus impact windows and doors
- New flooring installed throughout every 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
$56,577
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
4.04%
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%
$1,131,540
$1.1M
Cap Rate 7%
$808,243
$808.2K
Cap Rate 9%
$628,633
$628.6K
Market Conditions
NOI Build-Up for 2,821 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
$86.3K $30.60/SF
− Vacancy
−$5.5K −$1.95/SF
EGI
$80.8K $28.65/SF
− OpEx
−$24.2K −$8.60/SF
NOI
$56.6K $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%
$1,131,540
Cap Rate 7%
$808,243
Cap Rate 9%
$628,633
Alternative Uses
Best Use
Multifamily LT 5
$808.2K
$707.2K – $943.0K
NOI $56,577 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$744.5K
$651.4K – $868.6K
NOI $52,113 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$1.90M
$1.67M – $2.22M
NOI $133,294 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,467
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
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?
Triplex - Three distinct residences offer refreshed interiors, modern bathrooms, and stainless-steel kitchen appliances.
Where is this triplex located?
The property is located at 2490 SW 17th St Miami, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Three‑unit configuration with 4‑bedroom, 2‑bathroom; 2‑bedroom, 1‑bathroom; and 1‑bedroom, 1‑bathroom residences; Brand‑new roof plus impact windows and doors; New flooring installed throughout every unit
