Updated Duplex With Coin
For Sale
$599,000
3801 NW 23rd Ave, Miami, FL 33142
Residential Income, Miami, FL
Property Size1,278 SF
Price / SF$468.70
Days on Market82
Property Features for 3801 NW 23rd Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
3151
Bedrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 1
Parking
6
Subdivision
GARDEN CITY
Lot features
< 1/4 Acre
Standard status
Active
APN
30-31-22-008-1260
Size
1,278 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
GARDEN CITY PB 5-73 LOT 17 BLK 6 & 5FT ALLEY LYG E & ADJ CLOSED PER R-1204-87 LOT SIZE 40.000 X 143 OR 14266-2221 0989 4
Tax Annual Amount
5863
Legal Description
GARDEN CITY PB 5-73 LOT 17 BLK 6 & 5FT ALLEY LYG E & ADJ CLOSED PER R-1204-87 LOT SIZE 40.000 X 143 OR 14266-2221 0989 4
Utilities
Sewer type
Septic Tank
Cooling system
Central Air
Amenities
coin-operated washer and dryer
Building Details
Year built
1930
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Flat
Listing Agency:
Real Estate Empire Group, Inc.
(305) 592-1588
Listed By:
Angiolina Ayvar · License #3342937
(786) 366-9388
Added: Jun 3
Changed: Aug 21
Last Checked: Aug 23 at 3:06PM
MLS# A11968486
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 1,278-square-foot duplex contains two distinct living areas. The front residence offers two bedrooms and one bathroom, while the rear unit includes one bedroom and a kitchen. Tile flooring, block construction, a flat roof, and septic service are existing property features. A coin-operated washer and dryer provide an additional on-site amenity.
Plumbing was replaced in 2021. The front unit received central AC in 2025, and the rear unit has a mini-split system installed in 2025. The property sits on a quiet no-outlet street in Miami and is described as being minutes from major highways and the Design District. Tenants occupy the units under month-to-month leases, and parking is available for residents and guests.
Plumbing was replaced in 2021. The front unit received central AC in 2025, and the rear unit has a mini-split system installed in 2025. The property sits on a quiet no-outlet street in Miami and is described as being minutes from major highways and the Design District. Tenants occupy the units under month-to-month leases, and parking is available for residents and guests.
Key Highlights
- 1,278 SF duplex with two separate living units
- Front unit includes 2 bedrooms and 1 bathroom
- Rear unit offers 1 bedroom and a kitchen
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
$25,631
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
4.28%
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%
$512,620
$512.6K
Cap Rate 7%
$366,157
$366.2K
Cap Rate 9%
$284,789
$284.8K
Market Conditions
NOI Build-Up for 1,278 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
$39.1K $30.60/SF
− Vacancy
−$2.5K −$1.95/SF
EGI
$36.6K $28.65/SF
− OpEx
−$11.0K −$8.60/SF
NOI
$25.6K $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%
$512,620
Cap Rate 7%
$366,157
Cap Rate 9%
$284,789
Alternative Uses
Best Use
Multifamily LT 5
$366.2K
$320.4K – $427.2K
NOI $25,631 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$337.3K
$295.1K – $393.5K
NOI $23,609 @ 7.0% cap · market cap 3.94%
Theoretical Best
Specialty Retail
$862.7K
$754.8K – $1.01M
NOI $60,386 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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 - Two-unit property with flexible month-to-month tenancy and separate front and rear living arrangements.
Where is this duplex located?
The property is located at 3801 NW 23rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1,278 SF duplex with two separate living units; Front unit includes 2 bedrooms and 1 bathroom; Rear unit offers 1 bedroom and a kitchen
