Two-Unit Duplex with Renovation
491 E 15th Street, Hialeah, FL 33010
For Sale
New
$550,000
One residence requires substantial renovation; the property is being sold in its current condition.
Property Size1,648 SF
Lot Size0.24 Acres
Price / SF$358.54
Days on Market2
Property Features for 491 E 15th Street
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Property Condition
Severity
Evidence
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Elite Pro Realty, LLC.
Listed By:
Gelien Perez
(305) 890-6800
Source:
Laerrealty
Added: Nov 12
Last Checked: Nov 12 at 2:34PM
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 Elite Pro Realty, LLC.
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Investment Insights
Based on property information with market context.
This duplex at 491 E 15th Street in Hialeah contains two residences, each with 2 bedrooms and 1 bathroom. The building measures 1,534 square feet, sits on a 10,320-square-foot lot, and dates to 1944. One unit requires substantial renovation, and the property is being sold as-is on a cash-only basis.
The property has a multifamily land-use classification. Any future redevelopment would be subject to city zoning regulations and approvals.
The property has a multifamily land-use classification. Any future redevelopment would be subject to city zoning regulations and approvals.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,534‑square‑foot building on a 10,320‑square‑foot lot
- Built in 1944
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,050
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$441,000
$441.0K
Cap Rate 7%
$315,000
$315.0K
Cap Rate 9%
$245,000
$245.0K
Market Conditions
NOI Build-Up for 1,534 SF
Gross rent
$34.1K $22.20/SF
− Vacancy
−$2.6K −$1.67/SF
EGI
$31.5K $20.54/SF
− OpEx
−$9.5K −$6.16/SF
NOI
$22.1K $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 Rate 5%
$441,000
Cap Rate 7%
$315,000
Cap Rate 9%
$245,000
Alternative Uses
Best Use
Multifamily LT 5
$315.0K
$275.6K – $367.5K
NOI $22,050 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$293.5K
$256.8K – $342.4K
NOI $20,542 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$603.8K
$528.3K – $704.4K
NOI $42,265 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,686
Businesses Nearby
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Business Placement
Demographics for 33010, FL
43,902
Population
16,456
Households
2.7
Avg Household Size
48
Median Age
20%
College-Educated
71%
High-School Grad
4.3 sq mi
ZIP Area
10,210
Density / Sq Mi
$45,449
Median Household Income
$30,466
Median Earnings
$1,318
Median Rent
$346,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Miami-Dade County, FL
Properties on Market for Duplexes in Miami-Dade County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One residence requires substantial renovation; the property is being sold in its current condition.
Where is this duplex located?
The property is located at 491 E 15th Street Hialeah, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,534‑square‑foot building on a 10,320‑square‑foot lot; Built in 1944
