2-Unit Duplex with Updated
2501 NW 23rd Ave, Miami, FL 33142
For Sale
$769,000
Residential Income, Miami, FL
Property Size2,506 SF
Price / SF$306.86
Days on Market49
Property Features for 2501 NW 23rd Ave
General Information
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Property subtype
Zoning description
Bedrooms
Full bathrooms
Half bathrooms
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Parking
Subdivision
Lot features
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Special listing conditions
Standard status
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Size
Additional Details
Tenant in Place
Taxes and HOA fees
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Building Details
Year built
Floors in Building
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Building materials
Roof type
Buildings
Listing Agency:
Keller Williams Realty International Lifestyles
(786) 615-6761
Listed By:
Maria Auxiliadora Ruiz Marrero · License FL #3640143
(786) 298-6667
Added: Sep 23
Changed: Nov 10
Last Checked: Nov 10 at 8:06PM
MLS# A12091273
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.
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Investment Insights
Based on property information with market context.
This 2,506-square-foot brick duplex, built in 1925, contains two rented residences: one with three bedrooms and two bathrooms, and another with two bedrooms and one bathroom. The larger unit was remodeled about five years ago, including its air conditioning and flat roof; plumbing in its kitchen and bathrooms was updated about two years ago, and the PVC line between the sidewalk and the unit was replaced. It also has an impact-rated front door. The second unit was remodeled about two years ago and has a shingle roof reported to be approximately 15 years old.
The property has central heating and central air conditioning, ceramic tile and laminate flooring, and public sewer service. The reported cap rate is 6.98%.
The property has central heating and central air conditioning, ceramic tile and laminate flooring, and public sewer service. The reported cap rate is 6.98%.
Key Highlights
- Two rented units in a 2,506‑square‑foot duplex
- Unit mix: 3 bedrooms and 2 bathrooms, plus 2 bedrooms and 1 bathroom
- Reported cap rate of 6.98%
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,259
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,180
$1.0M
Cap Rate 7%
$717,986
$718.0K
Cap Rate 9%
$558,433
$558.4K
Market Conditions
NOI Build-Up for 2,506 SF
Gross rent
$76.7K $30.60/SF
− Vacancy
−$4.9K −$1.95/SF
EGI
$71.8K $28.65/SF
− OpEx
−$21.5K −$8.60/SF
NOI
$50.3K $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 Rate 5%
$1,005,180
Cap Rate 7%
$717,986
Cap Rate 9%
$558,433
Alternative Uses
Best Use
Multifamily LT 5
$718.0K
$628.2K – $837.7K
NOI $50,259 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$661.3K
$578.7K – $771.6K
NOI $46,294 @ 7.0% cap · market cap 6.02%
Theoretical Best
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,410 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,665
Businesses Nearby
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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
$298,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Miami, FL
Properties on Market for Duplexes in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased, with one offering three bedrooms and two bathrooms and the other two bedrooms and one bathroom.
Where is this duplex located?
The property is located at 2501 NW 23rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Two rented units in a 2,506‑square‑foot duplex; Unit mix: 3 bedrooms and 2 bathrooms, plus 2 bedrooms and 1 bathroom; Reported cap rate of 6.98%
