Two-Unit Duplex
370 NE 55th Street Miami, FL 33137
For Sale
$482,900
Pending
Duplex with two 2-bedroom, 1-bath units, featuring updated kitchens and bathrooms, sold as-is.
Property Size1,784 SF
Days on Market27
Property Features for 370 NE 55th Street
General Information
- Standard status
- Pending
- Size
- 1,784 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1954
Listing Agency:
Genstone Realty
(305) 974-1801
Listed By:
Veronica Crego-Flores · License #3442761
(305) 974-1801
Source:
Lehmannflorida
Added: Jun 28
Changed: Jul 21
Last Checked: Jul 23 at 5:20AM
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 Genstone Realty
Investment Insights
Based on property information with market context.
This duplex includes two separate residential units, each with two bedrooms and one bathroom. The property has updated kitchens and bathrooms. The duplex is being sold as-is.
The property is located in Miami’s Little Haiti/MiMo District corridor, just minutes from the Design District, Wynwood, Midtown, and Downtown Miami.
Buyers are encouraged to conduct their own inspections and due diligence. The buyer will be responsible for assuming and resolving an existing code violation related to unpermitted work. Any accepted contract will require the buyer to sign a hold harmless agreement, as the purchase is subject to code violations that will be addressed with the city after closing.
The property is located in Miami’s Little Haiti/MiMo District corridor, just minutes from the Design District, Wynwood, Midtown, and Downtown Miami.
Buyers are encouraged to conduct their own inspections and due diligence. The buyer will be responsible for assuming and resolving an existing code violation related to unpermitted work. Any accepted contract will require the buyer to sign a hold harmless agreement, as the purchase is subject to code violations that will be addressed with the city after closing.
Key Highlights
- Duplex built in 1954 with two 2‑bedroom, 1‑bath units
- Both units feature updated kitchens and updated bathrooms
- Sold as‑is; buyer to assume and resolve an existing code violation related to unpermitted work
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.6k | $30.60 |
| − Vacancy | −$3.5k | −$1.95 |
| EGI | $51.1k | $28.65 |
| − OpEx | −$15.3k | −$8.60 |
| NOI | $35.8k | $20.06 |
1,784 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.3K
NOI $35,779 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$470.8K
$412.0K – $549.3K
NOI $32,957 @ 7.0% cap · market cap 6.82%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,295 @ 7.0% cap · market cap 17.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with two 2-bedroom, 1-bath units, featuring updated kitchens and bathrooms, sold as-is.
Where is this duplex located?
The property is located at 370 NE 55th Street Miami, FL.
What is the asking price?
The asking price for this property is $482,900.
What are key features of this property?
This property features: Duplex built in 1954 with two 2‑bedroom, 1‑bath units; Both units feature updated kitchens and updated bathrooms; Sold as‑is; buyer to assume and resolve an existing code violation related to unpermitted work
