Low-Maintenance Duplex with Fenced
For Sale
$755,000
4491 NW 23rd Ave, Miami, FL 33142
Residential Income, Miami, FL
Property Size2,184 SF
Price / SF$345.70
Days on Market44
Property Features for 4491 NW 23rd Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 2
Parking
4
Security features
Security
Exterior features
Storm/Security Shutters
Subdivision
BUCKEYE PARK
Lot features
< 1/4 Acre
Standard status
Active
APN
30-31-22-029-0438
Size
2,184 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
22 53 41 BUCKEYE PK PB 13-69 LOT 25 BLK 2 LOT SIZE 5822 SQ FT M/L FAU 30 3122 029 0435
Tax Annual Amount
9677
Legal Description
22 53 41 BUCKEYE PK PB 13-69 LOT 25 BLK 2 LOT SIZE 5822 SQ FT M/L FAU 30 3122 029 0435
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
fenced backyards
ample front parking
inside laundry room
modern kitchen
quartz countertops
porcelain tile flooring
Energy Star stainless steel appliances
high-efficiency HVAC
tankless water heater
Building Details
Year built
2021
Floors in Building
2
Building materials
Block
Roof type
Shingle
Listing Agency:
Realty One Group Evolution
(786) 477-4715
Listed By:
Ingrid Roldan · License #3136467
(786) 346-5028
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 30 at 2:06AM
MLS# A12054428
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.
Constructed in 2021, this 2,184-square-foot duplex contains two 3-bedroom, 2-bathroom units. Each residence has an open living arrangement, a contemporary kitchen with quartz countertops, Energy Star stainless steel appliances, 24"x24" porcelain tile flooring, central HVAC, a tankless water heater, and an interior laundry room equipped with a washer and dryer. Block construction, shingle roofing, central cooling, storm/security shutters, and public sewer service support the property's functional design.
Both units include fenced backyard areas and ample front parking. The property is located in Miami with access to SR-112, SR-836, I-95, Downtown Miami, Wynwood, the Design District, Miami International Airport, and the Earlington Heights Metrorail Station. There is no HOA.
Both units include fenced backyard areas and ample front parking. The property is located in Miami with access to SR-112, SR-836, I-95, Downtown Miami, Wynwood, the Design District, Miami International Airport, and the Earlington Heights Metrorail Station. There is no HOA.
Key Highlights
- 2021‑built duplex with 2,184 SF of total building area
- Two 3‑bedroom, 2‑bathroom units
- Quartz countertops, Energy Star stainless steel appliances, and 24"x24" porcelain tile
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
$43,801
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
5.80%
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%
$876,020
$876.0K
Cap Rate 7%
$625,729
$625.7K
Cap Rate 9%
$486,678
$486.7K
Market Conditions
NOI Build-Up for 2,184 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
$66.8K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$62.6K $28.65/SF
− OpEx
−$18.8K −$8.60/SF
NOI
$43.8K $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%
$876,020
Cap Rate 7%
$625,729
Cap Rate 9%
$486,678
Alternative Uses
Best Use
Multifamily LT 5
$625.7K
$547.5K – $730.0K
NOI $43,801 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$576.4K
$504.3K – $672.4K
NOI $40,346 @ 7.0% cap · market cap 5.34%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,195 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,353
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences combine contemporary finishes, efficient systems, private outdoor areas, and convenient regional access.
Where is this duplex located?
The property is located at 4491 NW 23rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $755,000.
What are key features of this property?
This property features: 2021‑built duplex with 2,184 SF of total building area; Two 3‑bedroom, 2‑bathroom units; Quartz countertops, Energy Star stainless steel appliances, and 24"x24" porcelain tile
