Turnkey Renovated Residential Income
For Sale
$790,000
Pending
4326 Northwest 4th Street, Miami, FL 33126
Fully renovated units with separate living areas, laundry hookups, and dedicated parking, all currently leased for gross income.
Property Size1,959 SF
Days on Market139
Property Features for 4326 Northwest 4th Street
General Information
Standard status
Pending
Size
1,959 SF
Property subtype
Residential Income / Duplex
Taxes and HOA fees
Annual Taxes
$12,152
Building Details
Year Built
1949
Listing Agency:
Keller Williams Realty SW
(954) 237-0400
Listed By:
Jocelyn Falero · License #3387863
(954) 237-0400
Source:
Compass
Added: Apr 13
Changed: Aug 25
Last Checked: Aug 26 at 1:37PM
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 Keller Williams Realty SW
Investment Insights
Based on property information with market context.
This turnkey residential income property features fully renovated units completed in 2023. Interior improvements include quartz countertops, stainless steel appliances, updated bathrooms, LVP flooring, recessed lighting, and modern fixtures. Infrastructure updates were completed as well, including cast iron pipe lining, cloth wire removal, and new water heaters in every unit. The back unit includes impact doors and an insulated terrace ceiling, and each unit has its own laundry hookups.
The property is set on a quiet cul-de-sac and has a roof completed in 2010. It is in Flood Zone X and is connected to city sewer. All three units are currently leased, generating $7,750 per month in gross rent, with established rental history. Nearby access includes Kinloch Park Elementary and Middle School one block away, Presidente four blocks away, and Flagler and Le Jeune three blocks away, with Miami International Airport and Coral Gables approximately two miles from the property.
The property is set on a quiet cul-de-sac and has a roof completed in 2010. It is in Flood Zone X and is connected to city sewer. All three units are currently leased, generating $7,750 per month in gross rent, with established rental history. Nearby access includes Kinloch Park Elementary and Middle School one block away, Presidente four blocks away, and Flagler and Le Jeune three blocks away, with Miami International Airport and Coral Gables approximately two miles from the property.
Key Highlights
- Duplex built in 1949 with all three units fully renovated in 2023
- 2023 updates include quartz countertops, stainless steel appliances, updated bathrooms, LVP flooring, recessed lighting, and modern fixtures
- Separate living areas per unit plus individual laundry hookups
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
$39,289
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
4.97%
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%
$785,780
$785.8K
Cap Rate 7%
$561,271
$561.3K
Cap Rate 9%
$436,544
$436.5K
Market Conditions
NOI Build-Up for 1,959 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
$59.9K $30.60/SF
− Vacancy
−$3.8K −$1.95/SF
EGI
$56.1K $28.65/SF
− OpEx
−$16.8K −$8.60/SF
NOI
$39.3K $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%
$785,780
Cap Rate 7%
$561,271
Cap Rate 9%
$436,544
Alternative Uses
Best Use
Multifamily LT 5
$561.3K
$491.1K – $654.8K
NOI $39,289 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$517.0K
$452.4K – $603.2K
NOI $36,189 @ 7.0% cap · market cap 4.58%
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,564 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,511
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully renovated units with separate living areas, laundry hookups, and dedicated parking, all currently leased for gross income.
Where is this triplex located?
The property is located at 4326 Northwest 4th Street Miami, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Duplex built in 1949 with all three units fully renovated in 2023; 2023 updates include quartz countertops, stainless steel appliances, updated bathrooms, LVP flooring, recessed lighting, and modern fixtures; Separate living areas per unit plus individual laundry hookups
