Duplex with New
For Sale
$749,000
36 Northeast 64th Terrace, Miami, FL 33138
Two-unit property with separate utility metering, private laundry equipment, storage areas, and a backyard.
Property Size1,566 SF
Lot Size0.11 Acres
Price / SF$478.29
Days on Market260
Property Features for 36 Northeast 64th Terrace
General Information
Standard status
Active
Size
1,566 SF
Lot size
0.11 Acres
Property subtype
Multi-Family Income / Duplex
Zoning
T3-O
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,325
Amenities
individual washer/dryer units
dedicated storage space
generous backyard
Building Details
Year Built
1964
Buildings
1
Listing Agency:
Opera REI Inc
Listed By:
Raffaele Capoferro · License #3436490
(954) 255-0243
Source:
Compass
Added: Dec 17, 2025
Changed: Sep 2
Last Checked: Aug 31 at 4:15AM
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 Opera REI Inc
Investment Insights
Based on property information with market context.
This duplex includes two residential units with separate electric meters and water service. Each unit has its own washer and dryer along with dedicated storage space. Recent improvements include a brand-new roof, while the property also provides a generous backyard and sits on a 4,735-square-foot lot.
The property is zoned T3-O and is located at 36 Northeast 64th Terrace in Miami’s Little Haiti Innovation District. One unit is currently leased, and the property is within a few blocks of a planned station associated with Miami-Dade’s Northeast Corridor transit expansion. The site is identified as being in a no-flood zone and was built in 1964.
The property is zoned T3-O and is located at 36 Northeast 64th Terrace in Miami’s Little Haiti Innovation District. One unit is currently leased, and the property is within a few blocks of a planned station associated with Miami-Dade’s Northeast Corridor transit expansion. The site is identified as being in a no-flood zone and was built in 1964.
Key Highlights
- Two‑unit duplex with separate electric meters and water service
- Brand‑new roof
- Each unit includes individual washer and dryer units
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
4.19%
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 4.19%
Second Best
Apartment 5plus
$413.3K
$361.6K – $482.2K
NOI $28,929 @ 7.0% cap · market cap 3.86%
Theoretical Best
Specialty Retail
$1.06M
$924.9K – $1.23M
NOI $73,994 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,270
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
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 - Two-unit property with separate utility metering, private laundry equipment, storage areas, and a backyard.
Where is this duplex located?
The property is located at 36 Northeast 64th Terrace Miami, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑unit duplex with separate electric meters and water service; Brand‑new roof; Each unit includes individual washer and dryer units
