Duplex
For Sale
$500,000
3240 Nw 10th Ave, Miami, FL 33127
Two-unit property with tenants responsible for water, sewer, and electric service.
Property Size1,296 SF
Price / SF$385.80
Days on Market68
Property Features for 3240 Nw 10th Ave
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Residential Income
Financials
Gross Income
$43,200
Opportunity Zone
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,823
Listing Agency:
Fortune International Realty
(305) 343-1678
Listed By:
Verania Belausteguigoitia · License #0701376
(305) 343-1678
Source:
Exprealty
Added: Jun 8
Changed: Aug 11
Last Checked: Aug 13 at 11:02AM
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 Fortune International Realty
Investment Insights
Based on property information with market context.
This duplex contains 1,296 square feet across two residential units. The front and rear units are each occupied, with tenants responsible for water, sewer, and electric expenses under the current arrangement.
The property is located at 3240 NW 10th Ave in Miami, Florida, and carries Opportunity Zone designation. Its two-unit configuration provides a straightforward residential income property format for an owner or investor evaluating a duplex asset.
The property is located at 3240 NW 10th Ave in Miami, Florida, and carries Opportunity Zone designation. Its two-unit configuration provides a straightforward residential income property format for an owner or investor evaluating a duplex asset.
Key Highlights
- Two‑unit duplex configuration
- 1,296 square feet of property size
- Located in an Opportunity Zone
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
$25,992
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
5.20%
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%
$519,840
$519.8K
Cap Rate 7%
$371,314
$371.3K
Cap Rate 9%
$288,800
$288.8K
Market Conditions
NOI Build-Up for 1,296 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
$39.7K $30.60/SF
− Vacancy
−$2.5K −$1.95/SF
EGI
$37.1K $28.65/SF
− OpEx
−$11.1K −$8.60/SF
NOI
$26.0K $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%
$519,840
Cap Rate 7%
$371,314
Cap Rate 9%
$288,800
Alternative Uses
Best Use
Multifamily LT 5
$371.3K
$324.9K – $433.2K
NOI $25,992 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$342.0K
$299.3K – $399.0K
NOI $23,942 @ 7.0% cap · market cap 4.79%
Theoretical Best
Specialty Retail
$874.8K
$765.5K – $1.02M
NOI $61,237 @ 7.0% cap · market cap 12.25%
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
2,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with tenants responsible for water, sewer, and electric service.
Where is this duplex located?
The property is located at 3240 Nw 10th Ave Miami, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,296 square feet of property size; Located in an Opportunity Zone
