Two-Unit Duplex with New
For Sale
$485,000
401 Northwest 81st Street, Miami, FL 33150
Two one-bedroom residences feature one bathroom, living and dining areas, and month-to-month occupancy.
Property Size1,254 SF
Price / SF$386.76
Days on Market888
Property Features for 401 Northwest 81st Street
General Information
Standard status
Active
Size
1,254 SF
Total Parking Spaces
2
Property subtype
Commercial/Industrial / Income/Multi Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,125
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,690
Building Details
Year Built
1948
Listing Agency:
Global Investments Realty
(305) 438-1627
Listed By:
Joel Rodriguez · License #0545697
(305) 438-1627
Source:
Compass
Added: Mar 28, 2024
Changed: Aug 30
Last Checked: Aug 31 at 10:09PM
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 Global Investments Realty
Investment Insights
Based on property information with market context.
Built in 1948, this duplex contains two one-bedroom, one-bath residences within 1,254 square feet. Each unit includes a living and dining area, while the property provides two parking spaces. The roof was replaced in January 2023, and one residence received a full renovation during the same month. Both units are currently rented on month-to-month terms.
The property is located at 401 Northwest 81st Street in Miami, east of the I-95 Expressway. Its setting provides access to major transportation routes and the surrounding Miami area.
The property is located at 401 Northwest 81st Street in Miami, east of the I-95 Expressway. Its setting provides access to major transportation routes and the surrounding Miami area.
Key Highlights
- Two‑unit duplex with 1,254 square feet of property size
- Each unit offers 1 bedroom and 1 bath
- New roof completed in January 2023
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
$25,150
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
5.19%
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%
$503,000
$503.0K
Cap Rate 7%
$359,286
$359.3K
Cap Rate 9%
$279,444
$279.4K
Market Conditions
NOI Build-Up for 1,254 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
$38.4K $30.60/SF
− Vacancy
−$2.4K −$1.95/SF
EGI
$35.9K $28.65/SF
− OpEx
−$10.8K −$8.60/SF
NOI
$25.1K $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%
$503,000
Cap Rate 7%
$359,286
Cap Rate 9%
$279,444
Alternative Uses
Best Use
Multifamily LT 5
$359.3K
$314.4K – $419.2K
NOI $25,150 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$330.9K
$289.6K – $386.1K
NOI $23,166 @ 7.0% cap · market cap 4.78%
Theoretical Best
Specialty Retail
$846.5K
$740.7K – $987.5K
NOI $59,252 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,778
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 one-bedroom residences feature one bathroom, living and dining areas, and month-to-month occupancy.
Where is this duplex located?
The property is located at 401 Northwest 81st Street Miami, FL.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,254 square feet of property size; Each unit offers 1 bedroom and 1 bath; New roof completed in January 2023
