Duplex with In-Unit
New
For Sale
$425,000
3651 SW 60th Ter # N & S, Miramar, FL 33023
Residential Income, Miramar, FL
Property Size1,699 SF
Price / SF$250.15
Days on Market3
Property Features for 3651 SW 60th Ter # N & S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RM4
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Parking
4
Subdivision
SUN LAND PARK
Lot features
< 1/4 Acre
Standard status
Active
APN
514125132033
Size
1,699 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
SUN LAND PARK 25-30 B BEG AT NE COR OF LOT 9 BLK 6, SLY 119.6,WLY 115,NLY 4,NELY 162.79 TO POB BLK 6 LESS THAT PT OF SAID LOT DESC IN OR 556
Tax Annual Amount
8987
Legal Description
SUN LAND PARK 25-30 B BEG AT NE COR OF LOT 9 BLK 6, SLY 119.6,WLY 115,NLY 4,NELY 162.79 TO POB BLK 6 LESS THAT PT OF SAID LOT DESC IN OR 556
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1974
Floors in Building
1
Flooring type
Tile
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
Real Broker LLC
(954) 214-8263
Listed By:
Lance Randall · License #3360096
(305) 931-2224
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 12:06PM
MLS# A12094551
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,699-square-foot duplex in Miramar contains two residences, each with two bedrooms and one bathroom. Both are currently rented and have kitchens equipped with a refrigerator, range and oven, microwave, and dishwasher. Each unit also has its own washer and dryer, separate electric meter, and two assigned parking spaces. A large backyard provides outdoor space for the property. The building was constructed in 1974 with block and stucco materials, tile flooring, central heating and central air conditioning, and a shingle roof.
The property has public water and public sewer service. Cable is available.
The property has public water and public sewer service. Cable is available.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,699 square feet; built in 1974
- Both units currently rented
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
$19,947
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
4.69%
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%
$398,940
$398.9K
Cap Rate 7%
$284,957
$285.0K
Cap Rate 9%
$221,633
$221.6K
Market Conditions
NOI Build-Up for 1,699 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
$29.4K $17.28/SF
− Vacancy
−$863 −$0.51/SF
EGI
$28.5K $16.77/SF
− OpEx
−$8.5K −$5.03/SF
NOI
$19.9K $11.74/SF
Area
Miramar, FL
Vacancy
2.94%
Lease Rate
$17.28 /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%
$398,940
Cap Rate 7%
$284,957
Cap Rate 9%
$221,633
Alternative Uses
Best Use
Multifamily LT 5
$285.0K
$249.3K – $332.5K
NOI $19,947 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$249.9K
$218.7K – $291.6K
NOI $17,494 @ 7.0% cap · market cap 4.12%
Theoretical Best
Specialty Retail
$790.7K
$691.8K – $922.5K
NOI $55,347 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences offer two bedrooms, one bathroom, and individual electric meters.
Where is this duplex located?
The property is located at 3651 SW 60th Ter # N & S Miramar, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,699 square feet; built in 1974; Both units currently rented
