Updated Duplex With Separate
For Sale
$725,000
36 Nw 151st St, Miami, FL 33162
Duplex with separate electric and water meters, updated kitchens and baths in most areas, and a large backyard.
Property Size2,625 SF
Price / SF$276.19
Days on Market197
Property Features for 36 Nw 151st St
General Information
Standard status
Active
Size
2,625 SF
Property subtype
Residential Income
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,813
Listing Agency:
evernova realty llc
(954) 588-8969
Listed By:
Frantz Laurent
(954) 588-8969
Source:
Exprealty
Added: Feb 12
Changed: Aug 28
Last Checked: Aug 28 at 1:17PM
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 evernova realty llc
Investment Insights
Based on property information with market context.
This duplex offers two separate units with all separate electric meters and two water meters. The property includes a large backyard and interior updates with most kitchen and bathroom areas updated in the majority of the units. One unit’s kitchen and bathrooms remain unupdated, attributed to the tenant who has been in place the longest.
The duplex is currently occupied by long-term tenants, and showings are permitted only with an executed contract. Please do not disturb tenants.
From an ownership standpoint, the configuration provides independent metering and two income-producing units within a single property, with additional interior updates already completed in most areas.
The duplex is currently occupied by long-term tenants, and showings are permitted only with an executed contract. Please do not disturb tenants.
From an ownership standpoint, the configuration provides independent metering and two income-producing units within a single property, with additional interior updates already completed in most areas.
Key Highlights
- Duplex built in 1971
- Separate electric meters and two water meters
- Most kitchens and bathrooms updated; one unit has not been updated due to longest‑term tenant
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
$52,646
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
7.26%
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%
$1,052,920
$1.1M
Cap Rate 7%
$752,086
$752.1K
Cap Rate 9%
$584,956
$585.0K
Market Conditions
NOI Build-Up for 2,625 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
$80.3K $30.60/SF
− Vacancy
−$5.1K −$1.95/SF
EGI
$75.2K $28.65/SF
− OpEx
−$22.6K −$8.60/SF
NOI
$52.6K $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%
$1,052,920
Cap Rate 7%
$752,086
Cap Rate 9%
$584,956
Alternative Uses
Best Use
Multifamily LT 5
$752.1K
$658.1K – $877.4K
NOI $52,646 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$692.8K
$606.2K – $808.2K
NOI $48,493 @ 7.0% cap · market cap 6.69%
Theoretical Best
Specialty Retail
$1.77M
$1.55M – $2.07M
NOI $124,032 @ 7.0% cap · market cap 17.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 33162, FL
45,277
Population
16,719
Households
2.7
Avg Household Size
39
Median Age
21%
College-Educated
81%
High-School Grad
5.3 sq mi
ZIP Area
8,543
Density / Sq Mi
$55,993
Median Household Income
$31,848
Median Earnings
$1,535
Median Rent
$345,000
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 - Duplex with separate electric and water meters, updated kitchens and baths in most areas, and a large backyard.
Where is this duplex located?
The property is located at 36 Nw 151st St Miami, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Duplex built in 1971; Separate electric meters and two water meters; Most kitchens and bathrooms updated; one unit has not been updated due to longest‑term tenant
