Income Duplex For
For Sale
$899,000
2818 SW 2nd Street, Miami, FL 33135
Two-unit residential income property offered for sale in Miami, Florida.
Property Size2,617 SF
Price / SF$397.44
Days on Market48
Property Features for 2818 SW 2nd Street
General Information
Standard status
Active
Size
2,617 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
5700
Taxes and HOA fees
Annual Taxes
$8,795
Building Details
Building Size
2,617 SF
Year Built
1935
Stories
1
Listing Agency:
The Keyes Company
Listed By:
Daisy A Goetz · License #3161393
(786) 487-5713
Source:
Laerrealty
Added: Jul 23
Changed: Sep 5
Last Checked: Sep 7 at 4:59AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This for-sale duplex is classified as a residential income property and multifamily offering, suitable for buyers seeking a two-unit structure. The property comprises 2,262 square feet of total building area.
Located at 2818 SW 2nd St in Miami, Florida 33135, the asset is positioned as a straightforward income-producing housing option within the Miami market.
As a duplex, the configuration supports separate residential use across two units, providing a practical structure for investors or owner-occupants looking for multifamily income potential. The asking price is $935,000.
Located at 2818 SW 2nd St in Miami, Florida 33135, the asset is positioned as a straightforward income-producing housing option within the Miami market.
As a duplex, the configuration supports separate residential use across two units, providing a practical structure for investors or owner-occupants looking for multifamily income potential. The asking price is $935,000.
Key Highlights
- Two‑unit residential income property
- Built in 1935
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
$45,366
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
5.05%
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%
$907,320
$907.3K
Cap Rate 7%
$648,086
$648.1K
Cap Rate 9%
$504,067
$504.1K
Market Conditions
NOI Build-Up for 2,262 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
$69.2K $30.60/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$64.8K $28.65/SF
− OpEx
−$19.4K −$8.60/SF
NOI
$45.4K $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%
$907,320
Cap Rate 7%
$648,086
Cap Rate 9%
$504,067
Alternative Uses
Best Use
Multifamily LT 5
$648.1K
$567.1K – $756.1K
NOI $45,366 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$597.0K
$522.3K – $696.5K
NOI $41,787 @ 7.0% cap · market cap 4.65%
Theoretical Best
Specialty Retail
$1.53M
$1.34M – $1.78M
NOI $106,881 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property offered for sale in Miami, Florida.
Where is this duplex located?
The property is located at 2818 SW 2nd Street Miami, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑unit residential income property; Built in 1935
