Duplex
For Sale
$649,900
2912 NW 32nd St, Miami, FL 33142
Two-unit residential property built in 1968 with access to shopping, dining, schools, and transportation.
Property Size1,524 SF
Days on Market19
Property Features for 2912 NW 32nd St
General Information
Standard status
Active
Size
1,524 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,964
Building Details
Building Size
1,524 SF
Year Built
1968
Buildings
1
Listing Agency:
The Opulence Group Brokerage
Listed By:
Sureibys Fernandez · License #3596833
Source:
Marcelosteinmander
Added: Aug 17
Changed: Sep 2
Last Checked: Sep 4 at 11:55AM
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 Opulence Group Brokerage
Investment Insights
Based on property information with market context.
This two-unit residential property was built in 1968 and is located at 2912 NW 32nd St in Miami, Florida. The duplex format provides two separate residential units within one property.
The property is situated near major roads, shopping, dining, schools, and transportation. Its 1,524 property size and two-unit configuration offer a straightforward residential income property format.
The property is situated near major roads, shopping, dining, schools, and transportation. Its 1,524 property size and two-unit configuration offer a straightforward residential income property format.
Key Highlights
- Two‑unit duplex property
- Built in 1968
- Located at 2912 NW 32nd St, Miami, FL 33142
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
$30,565
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
4.70%
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%
$611,300
$611.3K
Cap Rate 7%
$436,643
$436.6K
Cap Rate 9%
$339,611
$339.6K
Market Conditions
NOI Build-Up for 1,524 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
$46.6K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$43.7K $28.65/SF
− OpEx
−$13.1K −$8.60/SF
NOI
$30.6K $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%
$611,300
Cap Rate 7%
$436,643
Cap Rate 9%
$339,611
Alternative Uses
Best Use
Multifamily LT 5
$436.6K
$382.1K – $509.4K
NOI $30,565 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$402.2K
$351.9K – $469.2K
NOI $28,153 @ 7.0% cap · market cap 4.33%
Theoretical Best
Specialty Retail
$1.03M
$900.1K – $1.20M
NOI $72,010 @ 7.0% cap · market cap 11.08%
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
1,965
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 - Two-unit residential property built in 1968 with access to shopping, dining, schools, and transportation.
Where is this duplex located?
The property is located at 2912 NW 32nd St Miami, FL.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two‑unit duplex property; Built in 1968; Located at 2912 NW 32nd St, Miami, FL 33142
