Renovated
For Sale
$635,000
2925 NW 63rd St, Miami, FL 33147
Two residences offer rental income, parking, and flexibility for owner occupancy or continued duplex use.
Property Size1,608 SF
Days on Market78
Property Features for 2925 NW 63rd St
General Information
Standard status
Active
Size
1,608 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,000
Building Details
Building Size
1,608 SF
Year Built
1948
Listing Agency:
Live Lavish Real Estate
Listed By:
Juan Reyes · License #3425627
(786) 300-5229
Source:
Vanessafrankmiami
Added: Jul 23
Changed: Oct 3
Last Checked: Oct 7 at 4:05PM
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 Live Lavish Real Estate
Investment Insights
Based on property information with market context.
Built in 1948, this duplex includes two residences with differing renovation profiles. One unit has completed renovations and updated finishes, while the other is in good condition and requires new flooring. The second residence also includes an oversized backyard, adding substantial private outdoor space to the property. Both units provide ample parking, supporting current residential use and tenant convenience.
The property is located at 2925 NW 63rd St in Miami, Florida 33147. Existing rental income supports continued income-producing use, while the stated zoning permits development of up to eight units. The asset can remain a two-unit property, accommodate an owner-occupant in one residence, or be evaluated for additional residential development.
The property is located at 2925 NW 63rd St in Miami, Florida 33147. Existing rental income supports continued income-producing use, while the stated zoning permits development of up to eight units. The asset can remain a two-unit property, accommodate an owner-occupant in one residence, or be evaluated for additional residential development.
Key Highlights
- Duplex with zoning allowing development of up to eight units
- One residence has been fully renovated with updated finishes
- Second residence is in good condition and needs new flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,249
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$644,980
$645.0K
Cap Rate 7%
$460,700
$460.7K
Cap Rate 9%
$358,322
$358.3K
Market Conditions
NOI Build-Up for 1,608 SF
Gross rent
$49.2K $30.60/SF
− Vacancy
−$3.1K −$1.95/SF
EGI
$46.1K $28.65/SF
− OpEx
−$13.8K −$8.60/SF
NOI
$32.2K $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 Rate 5%
$644,980
Cap Rate 7%
$460,700
Cap Rate 9%
$358,322
Alternative Uses
Best Use
Multifamily LT 5
$460.7K
$403.1K – $537.5K
NOI $32,249 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$424.4K
$371.3K – $495.1K
NOI $29,705 @ 7.0% cap · market cap 4.68%
Theoretical Best
Specialty Retail
$1.09M
$949.7K – $1.27M
NOI $75,979 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
942
Businesses Nearby
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Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer rental income, parking, and flexibility for owner occupancy or continued duplex use.
Where is this duplex located?
The property is located at 2925 NW 63rd St Miami, FL.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Duplex with zoning allowing development of up to eight units; One residence has been fully renovated with updated finishes; Second residence is in good condition and needs new flooring
