Duplex with Fenced
For Sale
$685,000
460 Northeast 132nd Street, North Miami, FL 33161
Two separately metered residences with a fenced backyard and one unit scheduled to be vacant at closing.
Property Size1,727 SF
Price / SF$396.64
Days on Market391
Property Features for 460 Northeast 132nd Street
General Information
Standard status
Active
Size
1,727 SF
Property subtype
Multi-Family Income / Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,285
Amenities
fenced backyard
fruit trees
Building Details
Year Built
1953
Listing Agency:
Coldwell Banker Realty
(305) 931-8266
Listed By:
Edner Francois · License #3367801
(305) 931-8266
Source:
Compass
Added: Aug 8, 2025
Changed: Aug 30
Last Checked: Aug 31 at 9:42PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1953, this duplex contains two residences with separate water and electric meters. The front unit has 2 bedrooms and 2 bathrooms and is expected to be vacant at closing, while the rear unit offers 2 bedrooms and 1 bathroom and is currently leased. The property includes a fenced backyard with avocado, mango, and coconut trees.
Located at 460 Northeast 132nd Street in North Miami, the property combines an existing rental arrangement with an immediately available front residence. Its two-unit configuration and separately metered utilities provide a practical setup for continued rental use or owner occupancy with supplemental income.
Located at 460 Northeast 132nd Street in North Miami, the property combines an existing rental arrangement with an immediately available front residence. Its two-unit configuration and separately metered utilities provide a practical setup for continued rental use or owner occupancy with supplemental income.
Key Highlights
- Two‑unit duplex with 1,727 square feet, built in 1953
- Front residence has 2 bedrooms and 2 bathrooms; vacant at closing
- Rear residence includes 2 bedrooms and 1 bathroom and is currently rented
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
$28,789
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
4.20%
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%
$575,780
$575.8K
Cap Rate 7%
$411,271
$411.3K
Cap Rate 9%
$319,878
$319.9K
Market Conditions
NOI Build-Up for 1,727 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
$43.5K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$41.1K $23.81/SF
− OpEx
−$12.3K −$7.14/SF
NOI
$28.8K $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%
$575,780
Cap Rate 7%
$411,271
Cap Rate 9%
$319,878
Alternative Uses
Best Use
Multifamily LT 5
$411.3K
$359.9K – $479.8K
NOI $28,789 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$379.4K
$332.0K – $442.7K
NOI $26,560 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$876.2K
$766.7K – $1.02M
NOI $61,333 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,165
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
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 separately metered residences with a fenced backyard and one unit scheduled to be vacant at closing.
Where is this duplex located?
The property is located at 460 Northeast 132nd Street North Miami, FL.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,727 square feet, built in 1953; Front residence has 2 bedrooms and 2 bathrooms; vacant at closing; Rear residence includes 2 bedrooms and 1 bathroom and is currently rented
