Corner-Lot Duplex with New
New
For Sale
$915,000
2893-2895 SW 37th Court, Miami, FL 33134
Two-unit property with separate laundry rooms and flexible interior layouts in Miami.
Property Size2,403 SF
Price / SF$472.87
Days on Market4
Property Features for 2893-2895 SW 37th Court
General Information
Standard status
Active
Size
2,403 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
5700
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,556
Building Details
Building Size
2,403 SF
Year Built
1947
Buildings
1
Stories
1
Listing Agency:
Avanti Way Realty LLC
(305) 342-7165
Listed By:
Eric Firestone · License #3271867
(305) 342-7165
Source:
Laerrealty
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 4:48AM
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 Avanti Way Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains 1,935 square feet across two residential sides at 2893-2895 SW 37th Court. The property has a new roof, updated plumbing, electrical work described as up to code, and new LVT flooring throughout. Interior features include updated kitchens, two separate washer-and-dryer areas, and a sitting area at 2893 SW 37th Ct that could be converted to a third bedroom. The primary bedroom at that address includes a wet bar and private exit. One of the two bathrooms there is updated, while the bathroom at 2895 SW 37th Ct is also described as well-maintained and updated.
Built in 1947, the duplex occupies a corner lot in Miami. The property is positioned between Brickell, Coral Gables, and Coconut Grove, with no HOA reported. Zoning is listed as 5700.
Built in 1947, the duplex occupies a corner lot in Miami. The property is positioned between Brickell, Coral Gables, and Coconut Grove, with no HOA reported. Zoning is listed as 5700.
Key Highlights
- 1,935 SF duplex on a corner lot
- New roof, updated plumbing, and electrical work described as up to code
- New LVT flooring throughout the property
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
$38,807
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
4.24%
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%
$776,140
$776.1K
Cap Rate 7%
$554,386
$554.4K
Cap Rate 9%
$431,189
$431.2K
Market Conditions
NOI Build-Up for 1,935 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
$59.2K $30.60/SF
− Vacancy
−$3.8K −$1.95/SF
EGI
$55.4K $28.65/SF
− OpEx
−$16.6K −$8.60/SF
NOI
$38.8K $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%
$776,140
Cap Rate 7%
$554,386
Cap Rate 9%
$431,189
Alternative Uses
Best Use
Multifamily LT 5
$554.4K
$485.1K – $646.8K
NOI $38,807 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$510.7K
$446.8K – $595.8K
NOI $35,746 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,430 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,933
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
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-unit property with separate laundry rooms and flexible interior layouts in Miami.
Where is this duplex located?
The property is located at 2893-2895 SW 37th Court Miami, FL.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: 1,935 SF duplex on a corner lot; New roof, updated plumbing, and electrical work described as up to code; New LVT flooring throughout the property
