Remodeled Miami Fourplex Investment
For Sale
$749,900
2775 Northwest 57th Street, Miami, FL 33142
Completely remodeled fourplex in Miami with immediate income potential.
Property Size1,202 SF
Price / SF$623.88
Days on Market115
Property Features for 2775 Northwest 57th Street
General Information
Standard status
Active
Size
1,202 SF
Property subtype
Multi-Family Income / Fourplex
Taxes and HOA fees
Annual Taxes
$5,157
Building Details
Year Built
1947
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Roylan Valdivia · License #3224891
(954) 450-2000
Source:
Compass
Added: May 6
Changed: Aug 28
Last Checked: Aug 26 at 1:35PM
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 multifamily property presents an investment opportunity in Miami. The property is a remodeled fourplex featuring updated studio units. Each unit includes a brand-new kitchen and a renovated bathroom. Modern flooring is installed throughout the building, and fresh paint has been applied to both the interior and exterior. All units are currently rented, generating a total monthly income of $5,400. This well-maintained property is located in a high-demand rental market, making it suitable for investors seeking a stabilized asset. The property size is 1202 square feet.
Key Highlights
- Turnkey cash‑flow opportunity with immediate income potential.
- Generating a total monthly income of $5,400.
- Completely remodeled fourplex with updated studio 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
$24,107
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
3.21%
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%
$482,140
$482.1K
Cap Rate 7%
$344,386
$344.4K
Cap Rate 9%
$267,856
$267.9K
Market Conditions
NOI Build-Up for 1,202 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
$36.8K $30.60/SF
− Vacancy
−$2.3K −$1.95/SF
EGI
$34.4K $28.65/SF
− OpEx
−$10.3K −$8.60/SF
NOI
$24.1K $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%
$482,140
Cap Rate 7%
$344,386
Cap Rate 9%
$267,856
Alternative Uses
Best Use
Multifamily LT 5
$344.4K
$301.3K – $401.8K
NOI $24,107 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$317.2K
$277.6K – $370.1K
NOI $22,205 @ 7.0% cap · market cap 2.96%
Theoretical Best
Specialty Retail
$811.4K
$709.9K – $946.6K
NOI $56,795 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,142
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?
Quadplex - Completely remodeled fourplex in Miami with immediate income potential.
Where is this quadplex located?
The property is located at 2775 Northwest 57th Street Miami, FL.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Turnkey cash‑flow opportunity with immediate income potential.; Generating a total monthly income of $5,400.; Completely remodeled fourplex with updated studio units.
