Renovated Duplex with
For Sale
$699,000
2729 Northwest 47th Street, Miami, FL 33142
Two separately metered residences with private mechanical systems, secure fencing, and a shared rear yard.
Property Size1,485 SF
Price / SF$470.71
Days on Market219
Property Features for 2729 Northwest 47th Street
General Information
Standard status
Active
Size
1,485 SF
Total Parking Spaces
5
Property subtype
Residential Income / Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$84,000
Taxes and HOA fees
Annual Taxes
$8,484
Amenities
separate electric meters
air conditioning
water heaters
impact windows
new kitchen
new flooring
fully fenced
security cameras
large backyard
Building Details
Year Built
1958
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Connie Ferreira · License #3299055
(954) 450-2000
Source:
Compass
Added: Jan 24
Changed: Aug 31
Last Checked: Aug 31 at 1:21AM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This 1,485-square-foot duplex, built in 1958, contains two residences configured with two bedrooms and two bathrooms apiece. Each unit has its own electric meter, AC unit, and water heater. One residence has impact windows, a recently installed kitchen, and new flooring. An RV is included with the property.
The site is enclosed by fencing and includes security cameras, parking for up to 5 vehicles, and a large backyard. The property is located at 2729 Northwest 47th Street in Miami, Florida 33142, within an area described as rapidly growing and supported by rental demand. Both units are currently rented at market rates.
The site is enclosed by fencing and includes security cameras, parking for up to 5 vehicles, and a large backyard. The property is located at 2729 Northwest 47th Street in Miami, Florida 33142, within an area described as rapidly growing and supported by rental demand. Both units are currently rented at market rates.
Key Highlights
- Two‑unit duplex with 1,485 square feet of building area
- Each residence includes 2 bedrooms and 2 bathrooms
- Separate electric meters, AC units, and water heaters for each 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
$29,782
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
4.26%
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%
$595,640
$595.6K
Cap Rate 7%
$425,457
$425.5K
Cap Rate 9%
$330,911
$330.9K
Market Conditions
NOI Build-Up for 1,485 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
$45.4K $30.60/SF
− Vacancy
−$2.9K −$1.95/SF
EGI
$42.5K $28.65/SF
− OpEx
−$12.8K −$8.60/SF
NOI
$29.8K $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%
$595,640
Cap Rate 7%
$425,457
Cap Rate 9%
$330,911
Alternative Uses
Best Use
Multifamily LT 5
$425.5K
$372.3K – $496.4K
NOI $29,782 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$391.9K
$342.9K – $457.2K
NOI $27,433 @ 7.0% cap · market cap 3.92%
Theoretical Best
Specialty Retail
$1.00M
$877.1K – $1.17M
NOI $70,167 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,230
Businesses Nearby
Explore this area
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
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 - Two separately metered residences with private mechanical systems, secure fencing, and a shared rear yard.
Where is this duplex located?
The property is located at 2729 Northwest 47th Street Miami, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,485 square feet of building area; Each residence includes 2 bedrooms and 2 bathrooms; Separate electric meters, AC units, and water heaters for each unit
