Block Duplex with Central A/C
For Sale
$750,000
Pending
447 E 32nd St, Hialeah, FL 33013
MULTI_FAMILY - Hialeah, FL
Property Size4,312 SF
Days on Market31
Property Features for 447 E 32nd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5400
Bedrooms
5
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 1, Bedroom 3
Parking
10
Patio and Porch features
Patio
Exterior features
Fence, Patio
Fencing
Fenced
Subdivision
HIALEAH 13TH ADDN AMD PL
Lot features
1/4 to 1/2 Acre Lot
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Pending
APN
04-31-08-001-6760
Size
4,312 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PB 34-26 HIALEAH 13TH ADDN AMD PL REV LOT 14 BLK 61-B & 6FT ALLEY LYG N & ADJ CLOSED PER R-94-104 LOT SIZE 66.640 X 136 OR 19650-2893 0501 1
Tax Annual Amount
7915
Legal Description
PB 34-26 HIALEAH 13TH ADDN AMD PL REV LOT 14 BLK 61-B & 6FT ALLEY LYG N & ADJ CLOSED PER R-94-104 LOT SIZE 66.640 X 136 OR 19650-2893 0501 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
3 Central A/C units
2 laundry rooms
big kitchens
patio
rear terrace
stamped concrete driveway
Building Details
Year built
1964
Floors in Building
2
Flooring type
Laminate, Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
Vylla Home
(904) 524-1165
Listed By:
Tania Toral · License #3091493
(786) 488-0634
Added: Jul 18
Changed: Aug 3
Last Checked: Aug 17 at 1:06AM
MLS# A12036567
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 block duplex offers independent operation for each unit, with distinct lease agreements and separate income streams. The dwelling is described as a unique layout with three central A/C units, two laundry rooms, and large kitchens, along with a patio and rear terrace. The property is fenced and includes a stamped concrete driveway with plenty of parking space. Floors include ceramic tile and laminate, with central heating and central air. The interior is described as needing updates, while the foundation is characterized as having strong bones and a functional floor plan.
The property was built in 1964 and is serviced by public water and public sewer. A shingle roof is listed. Zoning is described as R-3 with an option.
The configuration supports unit-by-unit leasing, while the exterior features and parking layout can support tenant convenience. Viewing is recommended to confirm condition and layout details.
The property was built in 1964 and is serviced by public water and public sewer. A shingle roof is listed. Zoning is described as R-3 with an option.
The configuration supports unit-by-unit leasing, while the exterior features and parking layout can support tenant convenience. Viewing is recommended to confirm condition and layout details.
Key Highlights
- Independent duplex operation with separate lease agreements
- Three central A/C units and two laundry rooms
- Patio and rear terrace plus fenced exterior
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
$61,983
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
8.26%
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%
$1,239,660
$1.2M
Cap Rate 7%
$885,471
$885.5K
Cap Rate 9%
$688,700
$688.7K
Market Conditions
NOI Build-Up for 4,312 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
$95.7K $22.20/SF
− Vacancy
−$7.2K −$1.67/SF
EGI
$88.5K $20.54/SF
− OpEx
−$26.6K −$6.16/SF
NOI
$62.0K $14.37/SF
Area
Hialeah, FL
Vacancy
7.50%
Lease Rate
$22.20 /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%
$1,239,660
Cap Rate 7%
$885,471
Cap Rate 9%
$688,700
Alternative Uses
Best Use
Multifamily LT 5
$885.5K
$774.8K – $1.03M
NOI $61,983 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$824.9K
$721.8K – $962.4K
NOI $57,742 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,804 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,584
Businesses Nearby
Explore this area
Business Placement
Demographics for 33013, FL
31,068
Population
9,544
Households
3.3
Avg Household Size
48
Median Age
18%
College-Educated
72%
High-School Grad
3.8 sq mi
ZIP Area
8,176
Density / Sq Mi
$57,242
Median Household Income
$32,566
Median Earnings
$1,488
Median Rent
$407,400
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 - Duplex with three central A/C units and independent operation, featuring patio and rear terrace, and served by public water and sewer.
Where is this duplex located?
The property is located at 447 E 32nd St Hialeah, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Independent duplex operation with separate lease agreements; Three central A/C units and two laundry rooms; Patio and rear terrace plus fenced exterior
