Brand-New Duplex Under
For Sale
$950,000
3165 NW 61st St, Miami, FL 33142
New duplex under construction with two modern units totaling 8 bedrooms and 6 full bathrooms.
Property Size2,894 SF
Price / SF$328.27
Days on Market93
Property Features for 3165 NW 61st St
General Information
Standard status
Active
Size
2,894 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,905
Amenities
tile flooring
stainless steel appliances
wood kitchen cabinetry
impact-resistant windows and doors
Building Details
Building Size
2,894 SF
Year Built
2026
Listing Agency:
Olde Towne Inter'l Rlty
Listed By:
Jose Ortiz · License #0384350
(305) 819-2979
Source:
Casacollectiongroup
Added: Jun 8
Changed: Sep 8
Last Checked: Sep 8 at 10:18AM
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 Olde Towne Inter'l Rlty
Investment Insights
Based on property information with market context.
Brand-new duplex currently under construction featuring two spacious modern units totaling 8 bedrooms and 6 full bathrooms. The property is planned to include tile flooring throughout, stainless steel appliances, wood kitchen cabinetry, and impact-resistant windows and doors.
Estimated completion is October 2026. The duplex is described as conveniently located just minutes from Hialeah, Miami International Airport, Wynwood, Downtown Miami, and Brickell.
This offering presents a residential income property configuration designed for both investor rental use and owner-occupant scenarios where rental income can help offset expenses.
Estimated completion is October 2026. The duplex is described as conveniently located just minutes from Hialeah, Miami International Airport, Wynwood, Downtown Miami, and Brickell.
This offering presents a residential income property configuration designed for both investor rental use and owner-occupant scenarios where rental income can help offset expenses.
Key Highlights
- New duplex under construction (Year Built 2026) with two modern units totaling 8 bedrooms and 6 full bathrooms
- Tile flooring throughout and impact‑resistant windows and doors
- Kitchen features include wood cabinetry and stainless steel appliances
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
$58,041
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
6.11%
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%
$1,160,820
$1.2M
Cap Rate 7%
$829,157
$829.2K
Cap Rate 9%
$644,900
$644.9K
Market Conditions
NOI Build-Up for 2,894 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
$88.6K $30.60/SF
− Vacancy
−$5.6K −$1.95/SF
EGI
$82.9K $28.65/SF
− OpEx
−$24.9K −$8.60/SF
NOI
$58.0K $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%
$1,160,820
Cap Rate 7%
$829,157
Cap Rate 9%
$644,900
Alternative Uses
Best Use
Multifamily LT 5
$829.2K
$725.5K – $967.4K
NOI $58,041 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$763.7K
$668.3K – $891.0K
NOI $53,462 @ 7.0% cap · market cap 5.63%
Theoretical Best
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,743 @ 7.0% cap · market cap 14.39%
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
1,416
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 - New duplex under construction with two modern units totaling 8 bedrooms and 6 full bathrooms.
Where is this duplex located?
The property is located at 3165 NW 61st St Miami, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: New duplex under construction (Year Built 2026) with two modern units totaling 8 bedrooms and 6 full bathrooms; Tile flooring throughout and impact‑resistant windows and doors; Kitchen features include wood cabinetry and stainless steel appliances
