2-Unit
259 NE 56th St, Miami, FL 33137
For Sale
$685,000
Residential Income, Miami, FL
Property Size1,511 SF
Price / SF$453.34
Days on Market121
Property Features for 259 NE 56th St
General Information
Property type
Property subtype
Zoning description
Bedrooms
Full bathrooms
Rooms
Parking
Subdivision
Lot features
Standard status
APN
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Building Details
Year built
Floors in Building
Building materials
Buildings
Listing Agency:
Optimar International Realty
(305) 947-0477
Listed By:
Christopher Powell · License FL #3279561
(305) 615-0035
Added: Jul 18
Changed: Nov 12
Last Checked: Nov 15 at 6:06PM
MLS# A12033314
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 1,511-square-foot duplex was built in 1946 and has been renovated. Its two residences include a 3-bedroom, 3-bath unit and a 1-bedroom, 1-bath unit. Both are leased, with utilities included in the rent.
The building uses concrete block construction and is connected to public sewer. Cable service is available.
The building uses concrete block construction and is connected to public sewer. Cable service is available.
Key Highlights
- Two leased residences: one with 3 bedrooms and 3 baths, the other with 1 bedroom and 1 bath
- 1,511 square feet
- Renovated duplex built in 1946
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,304
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$606,080
$606.1K
Cap Rate 7%
$432,914
$432.9K
Cap Rate 9%
$336,711
$336.7K
Market Conditions
NOI Build-Up for 1,511 SF
Gross rent
$46.2K $30.60/SF
− Vacancy
−$2.9K −$1.95/SF
EGI
$43.3K $28.65/SF
− OpEx
−$13.0K −$8.60/SF
NOI
$30.3K $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%
$606,080
Cap Rate 7%
$432,914
Cap Rate 9%
$336,711
Alternative Uses
Best Use
Multifamily LT 5
$432.9K
$378.8K – $505.1K
NOI $30,304 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$398.8K
$348.9K – $465.2K
NOI $27,913 @ 7.0% cap · market cap 4.07%
Theoretical Best
Specialty Retail
$1.02M
$892.4K – $1.19M
NOI $71,395 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,068
Businesses Nearby
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Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
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Market
Average Price Trend$/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 - The property contains a three-bedroom residence and a separate one-bedroom residence, and both are currently leased.
Where is this duplex located?
The property is located at 259 NE 56th St Miami, FL.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Two leased residences: one with 3 bedrooms and 3 baths, the other with 1 bedroom and 1 bath; 1,511 square feet; Renovated duplex built in 1946
