Duplex Property with
New
For Sale
$1,425,000
2967 SW 21st Street, Miami, FL 33145
T3-O zoning permits single-family or two-family development, with a maximum height of two stories.
Property Size2,312 SF
Lot Size0.26 Acres
Days on Market6
Property Features for 2967 SW 21st Street
General Information
Standard status
Active
Size
2,312 SF
Lot size
0.26 Acres
Property subtype
Duplex
Zoning
T3-O Suburban
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$68,400
Taxes and HOA fees
Annual Taxes
$14,875
Amenities
laundry room
torage
Building Details
Building Size
2,312 SF
Year Built
1936
Listing Agency:
LM Realty Group
Listed By:
Lucy Leanne Mangrum · License #3275234
(305) 746-4838
Source:
Silverleafrealtygroup
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 2:12PM
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 LM Realty Group
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Investment Insights
Based on property information with market context.
The property includes a three-bedroom, two-bathroom main house and a separate one-bedroom, one-bathroom apartment on the second story. The apartment has its own laundry room, storage space, and electric meter. The improvements date to 1936, and the 11,484-square-foot parcel is fenced and landscaped with mature tropical fruit trees.
T3-O Suburban zoning permits single-family or two-family construction, up to two stories and 25 feet to the eave. The property is located at 2967 SW 21st Street in Miami.
T3-O Suburban zoning permits single-family or two-family construction, up to two stories and 25 feet to the eave. The property is located at 2967 SW 21st Street in Miami.
Key Highlights
- Main house has 3 bedrooms and 2 bathrooms
- Second‑story apartment has 1 bedroom, 1 bathroom, laundry, and storage
- Apartment has a separate electric meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,368
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$927,360
$927.4K
Cap Rate 7%
$662,400
$662.4K
Cap Rate 9%
$515,200
$515.2K
Market Conditions
NOI Build-Up for 2,312 SF
Gross rent
$70.7K $30.60/SF
− Vacancy
−$4.5K −$1.95/SF
EGI
$66.2K $28.65/SF
− OpEx
−$19.9K −$8.60/SF
NOI
$46.4K $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 Rate 5%
$927,360
Cap Rate 7%
$662,400
Cap Rate 9%
$515,200
Alternative Uses
Best Use
Multifamily LT 5
$662.4K
$579.6K – $772.8K
NOI $46,368 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$610.2K
$533.9K – $711.9K
NOI $42,711 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.82M
NOI $109,243 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,173
Businesses Nearby
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Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - T3-O zoning permits single-family or two-family development, with a maximum height of two stories.
Where is this duplex located?
The property is located at 2967 SW 21st Street Miami, FL.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Main house has 3 bedrooms and 2 bathrooms; Second‑story apartment has 1 bedroom, 1 bathroom, laundry, and storage; Apartment has a separate electric meter
