Duplex with Remodeled
New
For Sale
$1,200,000
4224 SW 60th Pl, South Miami, FL 33155
Residential Income, South Miami, FL
Property Size2,458 SF
Price / SF$488.20
Days on Market2
Property Features for 4224 SW 60th Pl
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
0100
Bedrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 2
Parking
6
Subdivision
ALTA TERRA
Lot features
< 1/4 Acre
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Active
APN
09-40-24-029-0100
Size
2,458 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
ALTA TERRA PB 19-67 LOT 4 BLK 4 LOT SIZE 50.000 X 140 73R 237560
Tax Annual Amount
11025
Legal Description
ALTA TERRA PB 19-67 LOT 4 BLK 4 LOT SIZE 50.000 X 140 73R 237560
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air, Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1925
Floors in Building
2
Flooring type
Laminate, Tile
Building materials
Block
Listing Agency:
Compass Florida, LLC
(305) 851-2820
Listed By:
Sofia Giraldo · License #3325693
(786) 231-4808
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 21 at 10:06AM
MLS# A12090321
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 duplex contains 2,458 square feet and combines a primary residence with an upstairs apartment. The main residence includes three bathrooms, a remodeled kitchen, living areas, and a utility room. The upper apartment has a remodeled kitchen and bathroom. Interior finishes include laminate and tile flooring, while cooling is provided through central air and window or wall units.
Built in 1925 with block construction, the property has public sewer service and cable availability. It is located near Coral Gables and Nicklaus Children's Hospital in South Miami. The property is offered in its current condition, and any future development or use remains subject to applicable zoning regulations and governmental approvals.
Built in 1925 with block construction, the property has public sewer service and cable availability. It is located near Coral Gables and Nicklaus Children's Hospital in South Miami. The property is offered in its current condition, and any future development or use remains subject to applicable zoning regulations and governmental approvals.
Key Highlights
- 2,458‑square‑foot duplex built in 1925
- Main residence with remodeled kitchen, three bathrooms, living areas, and utility room
- Upstairs apartment with remodeled kitchen and bathroom
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
$40,974
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
3.41%
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%
$819,480
$819.5K
Cap Rate 7%
$585,343
$585.3K
Cap Rate 9%
$455,267
$455.3K
Market Conditions
NOI Build-Up for 2,458 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
$61.9K $25.20/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$58.5K $23.81/SF
− OpEx
−$17.6K −$7.14/SF
NOI
$41.0K $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%
$819,480
Cap Rate 7%
$585,343
Cap Rate 9%
$455,267
Alternative Uses
Best Use
Multifamily LT 5
$585.3K
$512.2K – $682.9K
NOI $40,974 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$540.0K
$472.5K – $630.0K
NOI $37,802 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,293 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 33155, FL
43,695
Population
16,046
Households
2.7
Avg Household Size
45
Median Age
37%
College-Educated
85%
High-School Grad
7.4 sq mi
ZIP Area
5,905
Density / Sq Mi
$79,271
Median Household Income
$41,919
Median Earnings
$1,871
Median Rent
$505,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Residential income property with a main residence and an upstairs apartment, offering separate living configurations.
Where is this duplex located?
The property is located at 4224 SW 60th Pl South Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,458‑square‑foot duplex built in 1925; Main residence with remodeled kitchen, three bathrooms, living areas, and utility room; Upstairs apartment with remodeled kitchen and bathroom
