Renovated
For Sale
$1,500,000
418 NW 47th St, Miami, FL 33127
Residential Income, Miami, FL
Property Size3,050 SF
Price / SF$491.80
Days on Market153
Property Features for 418 NW 47th St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
0104
Bedrooms
6
Full bathrooms
6
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 4, Bathroom 7, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Bathroom 6, Bedroom 1, Bathroom 4, Bathroom 2, Bathroom 5
Parking
4
Window features
Blinds
Exterior features
Fence
Fencing
Fenced
Subdivision
BUENA VISTA HEIGHTS EXTEN
Lot features
< 1/4 Acre
Directions
Take I-95 and exit on 62nd Street and stay on the side of the expressway (I-95) to 54th street and go east. to NW 5th Avenue and go South to NW 47th Street and property in the rear.
Special listing conditions
Short Sale
Standard status
Active
APN
01-31-24-018-1540
Size
3,050 SF
Taxes and HOA fees
Tax Year
2023
Tax Description
BUENA VISTA HGTS EXTN PB 3-64 LOT 9 BLK 32 & E1/2 OF ALLEY LYG W & ADJ CLOSED PER ORD#13492 LOT SIZE 7920 SQ FT M/L OR 9335 1053
Tax Annual Amount
16294
Legal Description
BUENA VISTA HGTS EXTN PB 3-64 LOT 9 BLK 32 & E1/2 OF ALLEY LYG W & ADJ CLOSED PER ORD#13492 LOT SIZE 7920 SQ FT M/L OR 9335 1053
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1952
Floors in Building
1
Flooring type
Tile - Ceramic, Tile
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Claudienne Hibbert · License #3022949
(786) 229-6567
Added: Apr 16
Changed: Sep 12
Last Checked: Sep 15 at 1:06AM
MLS# A11621180
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 renovated quadplex contains 3,050 square feet and was built in 1952. The property includes six bedrooms and seven bathrooms, with block construction, tile and ceramic tile flooring, central heating, and central air conditioning. A fence surrounds the property, while the shingle roof and public water and sewer systems complete the primary improvements.
The property is located in Miami-Dade County near Midtown, Miami Beach, South Beach, and Downtown Miami. It is fully rented, and the landlord currently pays the electric and water bills. The address is 418 NW 47th St, Miami, FL 33127.
The property is located in Miami-Dade County near Midtown, Miami Beach, South Beach, and Downtown Miami. It is fully rented, and the landlord currently pays the electric and water bills. The address is 418 NW 47th St, Miami, FL 33127.
Key Highlights
- Quadplex with 3,050 square feet
- Six bedrooms and seven bathrooms
- Fully rented with landlord‑paid electric and water
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
$61,169
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
4.08%
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%
$1,223,380
$1.2M
Cap Rate 7%
$873,843
$873.8K
Cap Rate 9%
$679,656
$679.7K
Market Conditions
NOI Build-Up for 3,050 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
$93.3K $30.60/SF
− Vacancy
−$5.9K −$1.95/SF
EGI
$87.4K $28.65/SF
− OpEx
−$26.2K −$8.60/SF
NOI
$61.2K $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%
$1,223,380
Cap Rate 7%
$873,843
Cap Rate 9%
$679,656
Alternative Uses
Best Use
Multifamily LT 5
$873.8K
$764.6K – $1.02M
NOI $61,169 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$804.9K
$704.3K – $939.1K
NOI $56,344 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$2.06M
$1.80M – $2.40M
NOI $144,114 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully rented residential income property with central HVAC, tile flooring, fencing, and public water and sewer.
Where is this quadplex located?
The property is located at 418 NW 47th St Miami, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Quadplex with 3,050 square feet; Six bedrooms and seven bathrooms; Fully rented with landlord‑paid electric and water
