Duplex With Remodeled Rear
For Sale
$799,999
3969 Sw 2nd St, Coral Gables, FL 33126
CBS duplex with a remodeled rear residence, updated roof, and additional work needed in the front unit.
Property Size2,700 SF
Price / SF$296.30
Days on Market9
Property Features for 3969 Sw 2nd St
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Residential
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,444
Building Details
Construction
CBS
Listing Agency:
Delphi Investment Realty
(305) 345-6091
Listed By:
Annia Y Garcia · License #700597
(305) 345-6091
Source:
Exprealty
Added: Aug 6
Changed: Aug 12
Last Checked: Aug 14 at 8:58AM
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 Delphi Investment Realty
Investment Insights
Based on property information with market context.
This Coral Gables duplex is built with CBS construction and includes two residential units. The rear unit has been fully remodeled, while the front unit requires repairs and remodeling. A 2021 roof, approximately three-year-old air-conditioning equipment, and windows provide several recent improvements. The property also includes a nearly 10,000-square-foot lot and is outside a flood zone.
Located at 3969 SW 2nd St, the property is near major highways, shopping, dining, schools, and parks. Downtown Miami and Miami International Airport are also described as just minutes away. Some plumbing has been redone, adding to the property's documented improvements while leaving the front unit available for further renovation.
Located at 3969 SW 2nd St, the property is near major highways, shopping, dining, schools, and parks. Downtown Miami and Miami International Airport are also described as just minutes away. Some plumbing has been redone, adding to the property's documented improvements while leaving the front unit available for further renovation.
Key Highlights
- Duplex with fully remodeled rear unit
- Front unit requires repairs and remodeling
- 2021 roof
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
$45,008
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
5.63%
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%
$900,160
$900.2K
Cap Rate 7%
$642,971
$643.0K
Cap Rate 9%
$500,089
$500.1K
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
$68.0K $25.20/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$64.3K $23.81/SF
− OpEx
−$19.3K −$7.14/SF
NOI
$45.0K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$900,160
Cap Rate 7%
$642,971
Cap Rate 9%
$500,089
Alternative Uses
Best Use
Multifamily LT 5
$643.0K
$562.6K – $750.1K
NOI $45,008 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$593.2K
$519.1K – $692.1K
NOI $41,524 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,888 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 33126, FL
48,751
Population
19,725
Households
2.5
Avg Household Size
44
Median Age
28%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
9,028
Density / Sq Mi
$55,722
Median Household Income
$32,607
Median Earnings
$1,651
Median Rent
$299,800
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 - CBS duplex with a remodeled rear residence, updated roof, and additional work needed in the front unit.
Where is this duplex located?
The property is located at 3969 Sw 2nd St Coral Gables, FL.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Duplex with fully remodeled rear unit; Front unit requires repairs and remodeling; 2021 roof
