Income-Generating Duplex
For Sale
$599,998
26410 SW 138th Court, Homestead, FL 33032
Duplex offers two 3-bed, 2-bath units with central air and separate electric and water meters for each side.
Property Size2,214 SF
Price / SF$271
Days on Market57
Property Features for 26410 SW 138th Court
General Information
Standard status
Active
Size
2,214 SF
Property subtype
Duplex
Building Details
Year Built
2005
Listing Agency:
Modern World Realty
(305) 988-9640
Listed By:
John A. Mena · License #3277370
(305) 903-9158
Source:
Lehmannflorida
Added: Jul 9
Changed: Sep 2
Last Checked: Sep 2 at 5:06PM
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 Modern World Realty
Investment Insights
Based on property information with market context.
This duplex provides two residential units, each configured with 3 bedrooms and 2 bathrooms. The property totals 6 bedrooms and 4 bathrooms, and includes central air conditioning. Separate electric and water meters support independent utility responsibility by unit.
The rear unit is currently occupied by a long-term tenant. The front unit is vacant and ready for a new tenant or owner-occupant.
Buyer and buyer’s agent must independently verify all property information, rental amounts, lease terms, and any applicable program requirements; please do not disturb the tenant.
The rear unit is currently occupied by a long-term tenant. The front unit is vacant and ready for a new tenant or owner-occupant.
Buyer and buyer’s agent must independently verify all property information, rental amounts, lease terms, and any applicable program requirements; please do not disturb the tenant.
Key Highlights
- Duplex built in 2005 with two separate 3‑bedroom, 2‑bath units (3/2 each)
- Central air in each unit
- Separate electric and water meters for each side
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
$36,907
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
6.15%
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%
$738,140
$738.1K
Cap Rate 7%
$527,243
$527.2K
Cap Rate 9%
$410,078
$410.1K
Market Conditions
NOI Build-Up for 2,214 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
$55.8K $25.20/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$52.7K $23.81/SF
− OpEx
−$15.8K −$7.14/SF
NOI
$36.9K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$738,140
Cap Rate 7%
$527,243
Cap Rate 9%
$410,078
Alternative Uses
Best Use
Multifamily LT 5
$527.2K
$461.3K – $615.1K
NOI $36,907 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$486.4K
$425.6K – $567.5K
NOI $34,050 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$1.12M
$982.9K – $1.31M
NOI $78,628 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
549
Businesses Nearby
Explore this area
Business Placement
Demographics for 33032, FL
58,727
Population
19,102
Households
3.1
Avg Household Size
34
Median Age
24%
College-Educated
83%
High-School Grad
18.2 sq mi
ZIP Area
3,227
Density / Sq Mi
$74,995
Median Household Income
$36,515
Median Earnings
$1,626
Median Rent
$374,700
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 - Duplex offers two 3-bed, 2-bath units with central air and separate electric and water meters for each side.
Where is this duplex located?
The property is located at 26410 SW 138th Court Homestead, FL.
What is the asking price?
The asking price for this property is $599,998.
What are key features of this property?
This property features: Duplex built in 2005 with two separate 3‑bedroom, 2‑bath units (3/2 each); Central air in each unit; Separate electric and water meters for each side
