Duplex with Two
New
For Sale
$700,000
521 NW 44th Ave, Miami, FL 33126
Residential Income, Miami, FL
Property Size1,522 SF
Price / SF$459.92
Days on Market3
Property Features for 521 NW 44th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Parking
2
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Subdivision
WATERMAN PARK
Lot features
< 1/4 Acre
Directions
NW 42nd Ave to NW 7th St- West to 44th Ave, South (left) to house.
Standard status
Active
APN
01-41-05-046-0241
Size
1,522 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
WATERMAN PARK PB 19-47 LOT 11 BLK 3 LOT SIZE 49.000 X 140 OR 9647-1573
Tax Annual Amount
7949
Legal Description
WATERMAN PARK PB 19-47 LOT 11 BLK 3 LOT SIZE 49.000 X 140 OR 9647-1573
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, Electric
Amenities
central A/C
washer/dryer
fenced-in yard
Building Details
Year built
1947
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
BHHS EWM Realty
(305) 960-2400
Listed By:
Miriam Llarena · License #0487625
(305) 205-7388
Added: Sep 24
Last Checked: Sep 26 at 4:06PM
MLS# A12095124
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 1,522-square-foot duplex contains two residences: a front unit with two bedrooms and one bathroom, plus a separate efficiency. Tile flooring extends throughout. The front residence has central air conditioning, and the property also includes a washer and dryer, a porch, and a fenced yard. Block construction dates to 1947.
The property is in Miami, near Flagler Street, Miami International Airport, major highways, shopping, and dining. Both residences are currently rented, providing rental income. The reported rents are excluded from this description.
The property is in Miami, near Flagler Street, Miami International Airport, major highways, shopping, and dining. Both residences are currently rented, providing rental income. The reported rents are excluded from this description.
Key Highlights
- Two residences: a two‑bedroom, one‑bathroom front unit and an efficiency
- 1,522 square feet
- Tile flooring throughout both residences
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
$30,525
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
4.36%
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%
$610,500
$610.5K
Cap Rate 7%
$436,071
$436.1K
Cap Rate 9%
$339,167
$339.2K
Market Conditions
NOI Build-Up for 1,522 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
$46.6K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$43.6K $28.65/SF
− OpEx
−$13.1K −$8.60/SF
NOI
$30.5K $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%
$610,500
Cap Rate 7%
$436,071
Cap Rate 9%
$339,167
Alternative Uses
Best Use
Multifamily LT 5
$436.1K
$381.6K – $508.8K
NOI $30,525 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$401.7K
$351.5K – $468.6K
NOI $28,117 @ 7.0% cap · market cap 4.02%
Theoretical Best
Specialty Retail
$1.03M
$898.9K – $1.20M
NOI $71,915 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,279
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - The property pairs a two-bedroom residence with an efficiency, and tile flooring runs throughout both units.
Where is this duplex located?
The property is located at 521 NW 44th Ave Miami, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two residences: a two‑bedroom, one‑bathroom front unit and an efficiency; 1,522 square feet; Tile flooring throughout both residences
