New Construction
New
For Sale
$1,100,000
3051-3053 NW 59th St, Miami, FL 33142
Residential Income, Miami, FL
Property Size3,000 SF
Price / SF$366.67
Days on Market2
Property Features for 3051-3053 NW 59th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
5700
Bedrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bathroom 6, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 5, Bedroom 6, Bathroom 2
Parking
2
Security features
Security
Exterior features
Security/High Impact Doors, Storm/Security Shutters
Subdivision
HIALEAH HEIGHTS
Lot features
Sprinkler System, < 1/4 Acre
Directions
From NW 79th Street and 27th Avenue.. go South on 27th Avenue to NW 62nd Street and go West (right) to NW 32nd Avenue.. Go South (left) to NW 59th Street and make a Left to Brand New Townhome on the Left Side of the road.
Standard status
Active
APN
30-31-16-009-3590
Size
3,000 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HIALEAH HGTS PB 28-24 LOT 24 BLK 14 LOT SIZE 40.000 X 129 OR 19206-4231 0700 1
Tax Annual Amount
2892
Legal Description
HIALEAH HGTS PB 28-24 LOT 24 BLK 14 LOT SIZE 40.000 X 129 OR 19206-4231 0700 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Claudienne Hibbert · License #3022949
(786) 229-6567
Added: Aug 27
Changed: Aug 28
Last Checked: Aug 28 at 3:06PM
MLS# A12073611
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 two-story duplex is under construction and scheduled for completion in 2026. The property contains 3,000 square feet with six bedrooms and six bathrooms, providing a substantial residential layout across two levels. Block construction, tile flooring, a shingle roof, central heating, and central air conditioning are specified. Upgraded finishes and an open interior arrangement are included in the design, while high-impact security doors and storm/security shutters add exterior protection features.
Located at 3051-3053 NW 59th St in Miami, the property is served by public water and public sewer. Its newly constructed condition allows a buyer to acquire a duplex without the immediate renovation requirements associated with older improvements. The address is within Miami-Dade County and carries the 33142 ZIP code.
Located at 3051-3053 NW 59th St in Miami, the property is served by public water and public sewer. Its newly constructed condition allows a buyer to acquire a duplex without the immediate renovation requirements associated with older improvements. The address is within Miami-Dade County and carries the 33142 ZIP code.
Key Highlights
- Duplex under construction with a 2026 year built
- 3,000 square feet across a two‑story layout
- Six bedrooms and six bathrooms
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
$60,167
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
5.47%
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%
$1,203,340
$1.2M
Cap Rate 7%
$859,529
$859.5K
Cap Rate 9%
$668,522
$668.5K
Market Conditions
NOI Build-Up for 3,000 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
$91.8K $30.60/SF
− Vacancy
−$5.8K −$1.95/SF
EGI
$86.0K $28.65/SF
− OpEx
−$25.8K −$8.60/SF
NOI
$60.2K $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 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%
$1,203,340
Cap Rate 7%
$859,529
Cap Rate 9%
$668,522
Alternative Uses
Best Use
Multifamily LT 5
$859.5K
$752.1K – $1.00M
NOI $60,167 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$791.7K
$692.8K – $923.7K
NOI $55,420 @ 7.0% cap · market cap 5.04%
Theoretical Best
Specialty Retail
$2.03M
$1.77M – $2.36M
NOI $141,751 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,215
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-story configuration with upgraded finishes, central air, and security-focused exterior features.
Where is this duplex located?
The property is located at 3051-3053 NW 59th St Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Duplex under construction with a 2026 year built; 3,000 square feet across a two‑story layout; Six bedrooms and six bathrooms
