Two-Unit Income
For Sale
$560,000
4245 NW 24th Ave, Miami, FL 33142
Two-story duplex with two rented units and no HOA fees on a 7,200 sq ft lot.
Property Size1,701 SF
Lot Size0.17 Acres
Days on Market127
Property Features for 4245 NW 24th Ave
General Information
Standard status
Active
Size
1,701 SF
Lot size
0.17 Acres
Property subtype
Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,264
Building Details
Building Size
1,701 SF
Year Built
1954
Stories
2
Tenancy
Multi
Listing Agency:
Hauser Realty
Listed By:
Federico Nimhauser · License #3289098
(305) 213-8966
Source:
Marcelosteinmander
Added: May 5
Changed: Sep 8
Last Checked: Sep 8 at 10:08AM
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 Hauser Realty
Investment Insights
Based on property information with market context.
This for-sale duplex is a two-story, 2-unit income property with separate ground-floor and second-floor residences. The ground-floor unit offers 3 bedrooms and 1 bathroom and is currently rented for $2,500 per month. The second-floor unit offers 2 bedrooms and 1 bathroom and is currently rented for $2,150 per month. There is no HOA association.
The property is located at 4245 NW 24th Ave, Miami, FL 33142, on a 7,200 sq ft lot. Public remarks also indicate the zoning allows construction of a one-story building of 590 sq ft, subject to buyer confirmation with the City of Miami.
Showings require use of showing assist for appointments, with at least 24 hours’ notice, and tenants should not be disturbed.
The property is located at 4245 NW 24th Ave, Miami, FL 33142, on a 7,200 sq ft lot. Public remarks also indicate the zoning allows construction of a one-story building of 590 sq ft, subject to buyer confirmation with the City of Miami.
Showings require use of showing assist for appointments, with at least 24 hours’ notice, and tenants should not be disturbed.
Key Highlights
- Two‑story duplex built in 1954 on a 7,200 sq ft lot
- Two rented units: 3 bed/1 bath on the ground floor rented for $2,500
- Second unit is 2 bed/1 bath on the 2nd floor rented for $2,150
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
$34,114
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
6.09%
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%
$682,280
$682.3K
Cap Rate 7%
$487,343
$487.3K
Cap Rate 9%
$379,044
$379.0K
Market Conditions
NOI Build-Up for 1,701 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
$52.1K $30.60/SF
− Vacancy
−$3.3K −$1.95/SF
EGI
$48.7K $28.65/SF
− OpEx
−$14.6K −$8.60/SF
NOI
$34.1K $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%
$682,280
Cap Rate 7%
$487,343
Cap Rate 9%
$379,044
Alternative Uses
Best Use
Multifamily LT 5
$487.3K
$426.4K – $568.6K
NOI $34,114 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$448.9K
$392.8K – $523.7K
NOI $31,423 @ 7.0% cap · market cap 5.61%
Theoretical Best
Specialty Retail
$1.15M
$1.00M – $1.34M
NOI $80,373 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-story duplex with two rented units and no HOA fees on a 7,200 sq ft lot.
Where is this duplex located?
The property is located at 4245 NW 24th Ave Miami, FL.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Two‑story duplex built in 1954 on a 7,200 sq ft lot; Two rented units: 3 bed/1 bath on the ground floor rented for $2,500; Second unit is 2 bed/1 bath on the 2nd floor rented for $2,150
