Renovated Duplex with Separate
For Sale
$800,000
3827 Southwest 88th Court, Miami, FL 33165
Updated two-unit property with separate electric meters and vacant delivery.
Property Size2,169 SF
Price / SF$368.83
Days on Market137
Property Features for 3827 Southwest 88th Court
General Information
Standard status
Active
Size
2,169 SF
Property subtype
Multi-Family Income / Duplex
Units
Unit Mix
1 x 3/2, 1 x 1/1
Multifamily Units
2
Additional Details
Gross Income
$57,600
Taxes and HOA fees
Annual Taxes
$9,679
Building Details
Year Built
1970
Buildings
1
Listing Agency:
Keller Williams Capital Realty
(305) 662-7325
Listed By:
Malgorzata Sadowska · License #3313909
(305) 662-7325
Source:
Compass
Added: Apr 17
Changed: Aug 29
Last Checked: Aug 30 at 11:43PM
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 Keller Williams Capital Realty
Investment Insights
Based on property information with market context.
This 2,295 SF duplex, built in 1970, includes a three-bedroom, two-bath unit and a one-bedroom, one-bath unit. Both residences are scheduled for delivery vacant. Renovations include impact windows, updated kitchens with appliances, refreshed bathrooms, newer flooring and fixtures, and a newer electrical panel and water heater. The one-bedroom unit also has mini-split systems.
The property is located at 3827 SW 88th Ct in Miami, within the established Westchester residential area. Major roadways, shopping, dining, the airport, FIU, and everyday amenities are accessible from the property. Additional infrastructure includes a roof from approximately 2014, septic service completed in 2023, and separate electric meters for the units.
The property is located at 3827 SW 88th Ct in Miami, within the established Westchester residential area. Major roadways, shopping, dining, the airport, FIU, and everyday amenities are accessible from the property. Additional infrastructure includes a roof from approximately 2014, septic service completed in 2023, and separate electric meters for the units.
Key Highlights
- 2,295 SF duplex with 3/2 and 1/1 unit configuration
- Both units delivered vacant
- Impact windows, updated kitchens with appliances, and modernized bathrooms
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
$43,500
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
5.44%
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%
$870,000
$870.0K
Cap Rate 7%
$621,429
$621.4K
Cap Rate 9%
$483,333
$483.3K
Market Conditions
NOI Build-Up for 2,169 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
$66.4K $30.60/SF
− Vacancy
−$4.2K −$1.95/SF
EGI
$62.1K $28.65/SF
− OpEx
−$18.6K −$8.60/SF
NOI
$43.5K $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%
$870,000
Cap Rate 7%
$621,429
Cap Rate 9%
$483,333
Alternative Uses
Best Use
Multifamily LT 5
$621.4K
$543.8K – $725.0K
NOI $43,500 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$572.4K
$500.9K – $667.8K
NOI $40,069 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$1.46M
$1.28M – $1.71M
NOI $102,486 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,214
Businesses Nearby
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
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 - Updated two-unit property with separate electric meters and vacant delivery.
Where is this duplex located?
The property is located at 3827 Southwest 88th Court Miami, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 2,295 SF duplex with 3/2 and 1/1 unit configuration; Both units delivered vacant; Impact windows, updated kitchens with appliances, and modernized bathrooms
