Turnkey 2022 Duplex with
For Sale
$1,100,000
37 NW 70th St, Miami, FL 33150
Two 3BR/2.5BA units built in 2022 with private patios, impact protection, and separate utility meters.
Property Size2,382 SF
Price / SF$407.41
Days on Market90
Property Features for 37 NW 70th St
General Information
Standard status
Active
Size
2,382 SF
Total Parking Spaces
4
Property subtype
Duplex
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,488
Building Details
Building Size
2,382 SF
Year Built
2022
Tenancy
Multi
Listing Agency:
Green Wave Realty Group Corp
Listed By:
Adriana Molina · License #3524534
(305) 215-5070
Source:
Relinkre
Added: Jun 10
Changed: Sep 3
Last Checked: Sep 7 at 7:35AM
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 Green Wave Realty Group Corp
Investment Insights
Based on property information with market context.
This turnkey duplex was built in 2022 and features two spacious 3BR/2.5BA units. Each unit includes private patio space, impact windows and doors, separate utility meters, and parking for two vehicles. The property is fully fenced and maintained, with separate living spaces designed for straightforward, low-maintenance operation.
Located in Miami’s Little River corridor, the property is listed as being just minutes from the Design District, Wynwood, Midtown, the Magic City Innovation District, and Miami Shores.
The duplex is currently generating $6,200 per month in rental income with stable tenants in place, providing an income-producing setup built around a modern 2022 construction profile.
Located in Miami’s Little River corridor, the property is listed as being just minutes from the Design District, Wynwood, Midtown, the Magic City Innovation District, and Miami Shores.
The duplex is currently generating $6,200 per month in rental income with stable tenants in place, providing an income-producing setup built around a modern 2022 construction profile.
Key Highlights
- 2022‑built duplex with two 3BR/2.5BA units, each about 1,350 SF
- Private patios for each unit
- Impact windows and doors throughout
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
$54,150
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
4.92%
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%
$1,083,000
$1.1M
Cap Rate 7%
$773,571
$773.6K
Cap Rate 9%
$601,667
$601.7K
Market Conditions
NOI Build-Up for 2,700 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
$82.6K $30.60/SF
− Vacancy
−$5.3K −$1.95/SF
EGI
$77.4K $28.65/SF
− OpEx
−$23.2K −$8.60/SF
NOI
$54.1K $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%
$1,083,000
Cap Rate 7%
$773,571
Cap Rate 9%
$601,667
Alternative Uses
Best Use
Multifamily LT 5
$773.6K
$676.9K – $902.5K
NOI $54,150 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$712.5K
$623.5K – $831.3K
NOI $49,878 @ 7.0% cap · market cap 4.53%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,576 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,185
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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 3BR/2.5BA units built in 2022 with private patios, impact protection, and separate utility meters.
Where is this duplex located?
The property is located at 37 NW 70th St Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 2022‑built duplex with two 3BR/2.5BA units, each about 1,350 SF; Private patios for each unit; Impact windows and doors throughout
