Two-Unit Duplex with New
For Sale
Contact for pricing
330 NW 23rd Ct, Miami, FL 33125
Each residence offers two bedrooms, one bathroom, a living room, kitchen, and separate laundry room.
Property Size1,492 SF
Lot Size0.18 Acres
Price / SF$385.39
Days on Market179
Property Features for 330 NW 23rd Ct
General Information
Standard status
Active
Size
1,492 SF
Total Parking Spaces
4
Lot size
0.18 Acres
Property subtype
Multifamily
Zoning
5700
Property Condition
Severity
Repairs Needed
Evidence
cosmetic interior repairs
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1954
Units
2
Tenancy
Multi
Listing Agency:
Esslinger, Wooten, Maxwell Inc
Listed By:
Janine Carro Bello · License #3137755
Source:
Crexi
Added: Mar 7
Changed: Aug 31
Last Checked: Aug 31 at 3:51AM
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 Esslinger, Wooten, Maxwell Inc
Investment Insights
Based on property information with market context.
This 1,492-square-foot duplex contains two residences, each configured with two bedrooms, one bathroom, a living room, kitchen, and separate laundry room. The property sits on an 8,015-square-foot lot within a multifamily-zoned neighborhood. A roof replacement was completed in 2025. Both units use wall-mounted air-conditioning units, and the building does not have central AC.
The property is located at 330 NW 23rd Ct in Miami, near Marlins Park and within the Little Havana area. It is being offered in its current condition. Unit 1 requires cosmetic interior repairs, while Unit 2 is described as being in good condition. Existing tenants occupy the units on a month-to-month basis.
The property is located at 330 NW 23rd Ct in Miami, near Marlins Park and within the Little Havana area. It is being offered in its current condition. Unit 1 requires cosmetic interior repairs, while Unit 2 is described as being in good condition. Existing tenants occupy the units on a month-to-month basis.
Key Highlights
- Two‑unit duplex with 1,492 square feet of building area
- Each unit has 2 bedrooms and 1 bathroom
- 8,015‑square‑foot lot in a multifamily‑zoned neighborhood
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
$29,923
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%
$598,460
$598.5K
Cap Rate 7%
$427,471
$427.5K
Cap Rate 9%
$332,478
$332.5K
Market Conditions
NOI Build-Up for 1,492 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
$45.7K $30.60/SF
− Vacancy
−$2.9K −$1.95/SF
EGI
$42.7K $28.65/SF
− OpEx
−$12.8K −$8.60/SF
NOI
$29.9K $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%
$598,460
Cap Rate 7%
$427,471
Cap Rate 9%
$332,478
Alternative Uses
Best Use
Multifamily LT 5
$427.5K
$374.0K – $498.7K
NOI $29,923 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$393.7K
$344.5K – $459.4K
NOI $27,562 @ 7.0% cap · market cap 4.79%
Theoretical Best
Specialty Retail
$1.01M
$881.2K – $1.17M
NOI $70,498 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
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 - Each residence offers two bedrooms, one bathroom, a living room, kitchen, and separate laundry room.
Where is this duplex located?
The property is located at 330 NW 23rd Ct Miami, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,492 square feet of building area; Each unit has 2 bedrooms and 1 bathroom; 8,015‑square‑foot lot in a multifamily‑zoned neighborhood
