Two-Unit
For Sale
$844,500
3410 Sw 89th Ave, Miami, FL 33165
Residential duplex with matching two-bedroom, one-bath layouts in Miami’s Westchester area.
Property Size1,566 SF
Price / SF$539.27
Days on Market118
Property Features for 3410 Sw 89th Ave
General Information
Standard status
Active
Size
1,566 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,786
Building Details
Buildings
1
Listing Agency:
Century 21 World Connection
(786) 900-0155
Listed By:
Sonia Barrera · License #3083506
(305) 305-9471
Source:
Exprealty
Added: May 21
Changed: Sep 13
Last Checked: Sep 14 at 7:56AM
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 Century 21 World Connection
Investment Insights
Based on property information with market context.
This duplex at 3410 SW 89th Ave in Miami, Florida, contains two residential units identified as 3410 and 3412. Each unit has two bedrooms and one bathroom, creating a consistent configuration across the property.
Located in the Westchester area, the property offers a straightforward two-unit layout for residential ownership or rental use. The matching floor plans provide a clear physical setup for evaluating both units together.
Located in the Westchester area, the property offers a straightforward two-unit layout for residential ownership or rental use. The matching floor plans provide a clear physical setup for evaluating both units together.
Key Highlights
- Two residential units identified as 3410 and 3412
- Each unit includes 2 bedrooms and 1 bathroom
- Located at 3410 SW 89th Ave in Miami, FL
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
$31,407
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
3.72%
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%
$628,140
$628.1K
Cap Rate 7%
$448,671
$448.7K
Cap Rate 9%
$348,967
$349.0K
Market Conditions
NOI Build-Up for 1,566 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
$47.9K $30.60/SF
− Vacancy
−$3.1K −$1.95/SF
EGI
$44.9K $28.65/SF
− OpEx
−$13.5K −$8.60/SF
NOI
$31.4K $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%
$628,140
Cap Rate 7%
$448,671
Cap Rate 9%
$348,967
Alternative Uses
Best Use
Multifamily LT 5
$448.7K
$392.6K – $523.5K
NOI $31,407 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$413.3K
$361.6K – $482.2K
NOI $28,929 @ 7.0% cap · market cap 3.43%
Theoretical Best
Specialty Retail
$1.06M
$924.9K – $1.23M
NOI $73,994 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
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
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 - Residential duplex with matching two-bedroom, one-bath layouts in Miami’s Westchester area.
Where is this duplex located?
The property is located at 3410 Sw 89th Ave Miami, FL.
What is the asking price?
The asking price for this property is $844,500.
What are key features of this property?
This property features: Two residential units identified as 3410 and 3412; Each unit includes 2 bedrooms and 1 bathroom; Located at 3410 SW 89th Ave in Miami, FL
