Duplex with Patio and Storm
For Sale
$935,000
2818 SW 2nd St, Miami, FL 33135
Residential Income, Miami, FL
Property Size2,262 SF
Price / SF$413.35
Days on Market37
Property Features for 2818 SW 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3
Parking
6
Security features
Security
Patio and Porch features
Patio
Exterior features
Patio, Storm/Security Shutters
Subdivision
CENTRAL PARK
Lot features
< 1/4 Acre
Directions
Please use GPS
Standard status
Active
APN
01-41-03-040-1510
Size
2,262 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
3-4 54 41 CENTRAL PARK PB 5-57 LOT 11 BLK 9 LOT SIZE 50.000 X 150 OR 17524-3322 0297 5 COC 24517-3796 04 2006 1
Tax Annual Amount
8795
Legal Description
3-4 54 41 CENTRAL PARK PB 5-57 LOT 11 BLK 9 LOT SIZE 50.000 X 150 OR 17524-3322 0297 5 COC 24517-3796 04 2006 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1935
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
The Keyes Company
(305) 531-5803
Listed By:
Daisy Goetz · License #3161393
(786) 487-5713
Added: Jul 18
Changed: Aug 19
Last Checked: Aug 23 at 6:06PM
MLS# A12046210
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 duplex offers two separate residences with its own utility setup for each unit. The front unit has 4 bedrooms and 2 bathrooms with a private backyard area, and the back unit has 2 bedrooms and 2 bathrooms with its own private retreat. The home’s interior features tile flooring, central heating, and central air conditioning. Construction is block, and the property includes a patio, plus storm/security shutters.
The property is located in Miami-Dade County, with public sewer and a shingle roof. The main house includes washer and dryer hookups, and washer and dryer shown in a side structure are excluded from the sale. There is no HOA, and the home is owner occupied.
Showings require 48-hour notice, and the listing agent must be present.
The property is located in Miami-Dade County, with public sewer and a shingle roof. The main house includes washer and dryer hookups, and washer and dryer shown in a side structure are excluded from the sale. There is no HOA, and the home is owner occupied.
Showings require 48-hour notice, and the listing agent must be present.
Key Highlights
- Front unit has 4 bedrooms and 2 bathrooms with a private backyard area
- Back unit has 2 bedrooms and 2 bathrooms with its own private retreat
- Each unit has its own meter for separate utility convenience
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
4.85%
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 4.85%
Second Best
Apartment 5plus
$597.0K
$522.3K – $696.5K
NOI $41,787 @ 7.0% cap · market cap 4.47%
Theoretical Best
Specialty Retail
$1.53M
$1.34M – $1.78M
NOI $106,881 @ 7.0% cap · market cap 11.43%
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - duplex with patio and storm/security shutters, central HVAC, and separate utilities for each unit.
Where is this duplex located?
The property is located at 2818 SW 2nd St Miami, FL.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: Front unit has 4 bedrooms and 2 bathrooms with a private backyard area; Back unit has 2 bedrooms and 2 bathrooms with its own private retreat; Each unit has its own meter for separate utility convenience
