Miami Residential Income
For Sale
$1,050,000
3200 SW 88th Pl, Miami, FL 33165
Residential income property with an established 1970 construction date and Miami address.
Property Size2,193 SF
Days on Market16
Property Features for 3200 SW 88th Pl
General Information
Standard status
Active
Size
2,193 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$9,026
Building Details
Building Size
2,193 SF
Year Built
1970
Listing Agency:
My Realty Group, LLC.
Listed By:
Hugo Lopez Diaz · License #3309360
(786) 999-3558
Source:
Marcelosteinmander
Added: Sep 11
Changed: Sep 22
Last Checked: Sep 24 at 3:43PM
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 My Realty Group, LLC.
Investment Insights
Based on property information with market context.
This residential income property was constructed in 1970 and has a reported property size of 2,193. The asset is identified under zoning designation 5700.
The property is located at 3200 SW 88th Place in Miami, Florida, with ZIP code 33165. Its classification is residential income property, supporting consideration within the multifamily and income-producing residential categories.
The property is located at 3200 SW 88th Place in Miami, Florida, with ZIP code 33165. Its classification is residential income property, supporting consideration within the multifamily and income-producing residential categories.
Key Highlights
- 2,193 reported property size
- Built in 1970
- Zoning designation 5700
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
$40,512
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
3.86%
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%
$810,240
$810.2K
Cap Rate 7%
$578,743
$578.7K
Cap Rate 9%
$450,133
$450.1K
Market Conditions
NOI Build-Up for 2,193 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
$78.9K $36.00/SF
− Vacancy
−$5.3K −$2.41/SF
EGI
$73.7K $33.59/SF
− OpEx
−$33.1K −$15.11/SF
NOI
$40.5K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$810,240
Cap Rate 7%
$578,743
Cap Rate 9%
$450,133
Alternative Uses
Best Use
Apartment 5plus
$578.7K
$506.4K – $675.2K
NOI $40,512 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.48M
$1.30M – $1.73M
NOI $103,620 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,711
Businesses Nearby
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Residential income property - Residential income property with an established 1970 construction date and Miami address.
Where is this residential income property located?
The property is located at 3200 SW 88th Pl Miami, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 2,193 reported property size; Built in 1970; Zoning designation 5700
