Duplex with Renovated
For Sale
$699,000
2729 NW 47th St, Miami, FL 33142
Residential Income, Miami, FL
Property Size1,485 SF
Price / SF$470.71
Days on Market46
Property Features for 2729 NW 47th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Parking
5
Subdivision
AMD PL OF BROWNS SUB
Lot features
1/4 to 1/2 Acre Lot, < 1/4 Acre
Standard status
Active
APN
30-31-21-023-0550
Size
1,485 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
21 53 41 AMD PL OF BROWNS SUB PB 5-98 LOT 22 BLK 2 LOT SIZE 50.000 X 152 OR 17714-1258 0797 1 COC 25095-0956 01 2006 5
Tax Annual Amount
8484
Legal Description
21 53 41 AMD PL OF BROWNS SUB PB 5-98 LOT 22 BLK 2 LOT SIZE 50.000 X 152 OR 17714-1258 0797 1 COC 25095-0956 01 2006 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating)
Cooling system
Central Air
Amenities
spacious backyard
Building Details
Year built
1958
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Connie Ferreira · License #3299055
(305) 200-9773
Added: Jul 25
Changed: Sep 4
Last Checked: Sep 8 at 12:06PM
MLS# A11955083
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.
Investment Insights
Based on property information with market context.
This 1,485-square-foot duplex, constructed in 1958, contains two residential units and is currently occupied by tenants under lease. Improvements include updated kitchens, laminate flooring, and renovated roofs. Separate electric meters serve the units, while central air conditioning, natural gas and electric heating, shingle roofing, block construction, and public sewer support the property’s existing configuration. A spacious backyard provides additional outdoor area.
The property is located in Miami near Wynwood, Downtown Miami, and the Metrorail, with access to major highways. Cable is available, and the surrounding context places the duplex within reach of established urban destinations and transit service.
The property is located in Miami near Wynwood, Downtown Miami, and the Metrorail, with access to major highways. Cable is available, and the surrounding context places the duplex within reach of established urban destinations and transit service.
Key Highlights
- Two‑unit duplex totaling 1,485 square feet
- Tenants currently occupy both units under lease
- Separate electric meters serve the units
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
Yes
Highway access
Yes
Utilities to site
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 - Leased units have separate electric meters and access to major highways.
Where is this duplex located?
The property is located at 2729 NW 47th St 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 totaling 1,485 square feet; Tenants currently occupy both units under lease; Separate electric meters serve the units
