Single-Story Duplex with Bonus
For Sale
$689,000
5254 NW 2ND Terrace, Miami, FL 33126
Residential Income, Miami, FL
Property Size2,126 SF
Lot Size0.16 Acres
Price / SF$324.08
Days on Market47
Property Features for 5254 NW 2ND Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
5700
Bedrooms
6
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 6, Bedroom 2, Bathroom 2
Pets allowed
Yes, No
Fencing
Fenced
Subdivision
FLAGLER GROVE ESTATES EXTEN
Elementary school
Henry M. Flagler
Middle school
Kinloch Park
High school
South Miami
Standard status
Active
APN
0141060181500
Size
2,126 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FLAGLER GROVE ESTATES EXTEN PB 8-98 LOT 180 LOT SIZE 50.000 X 139 COC 22293-3616 04 2004 4
Tax Annual Amount
10329
Legal Description
FLAGLER GROVE ESTATES EXTEN PB 8-98 LOT 180 LOT SIZE 50.000 X 139 COC 22293-3616 04 2004 4
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Attic Fan, Central Air
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Building materials
Block, CBS
Roof type
Shingle
Listing Agency:
Compass Florida LLC
(561) 300-6056
Listed By:
Joanna Levin · License #3372532
(954) 257-0657
Added: Jul 23
Changed: Sep 4
Last Checked: Sep 7 at 12:06PM
MLS# B26055788
Copyright © 2026 BeachesMLS. 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 single-story duplex was built in 1953 and contains two three-bedroom, one-bath residences. The front unit includes an additional bonus room, while the rear unit is vacant. Both residences feature central heating and cooling, block construction, shingle roofing, and access to public water and sewer service. The property appraiser identifies 2,126 square feet of living space for each unit.
Set on a 0.16-acre fenced parcel at 5254 NW 2ND Terrace in Miami, the property is located in Miami-Dade County, ZIP Code 33126. One residence is occupied, providing an existing rental arrangement, while the second unit is available for occupancy. Zoning is designated 5700.
Set on a 0.16-acre fenced parcel at 5254 NW 2ND Terrace in Miami, the property is located in Miami-Dade County, ZIP Code 33126. One residence is occupied, providing an existing rental arrangement, while the second unit is available for occupancy. Zoning is designated 5700.
Key Highlights
- Duplex with two 3‑bedroom, 1‑bath units
- Front residence includes an additional bonus room
- 2,126 square feet identified for each unit by the property appraiser
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
$42,638
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
6.19%
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%
$852,760
$852.8K
Cap Rate 7%
$609,114
$609.1K
Cap Rate 9%
$473,756
$473.8K
Market Conditions
NOI Build-Up for 2,126 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
$65.1K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$60.9K $28.65/SF
− OpEx
−$18.3K −$8.60/SF
NOI
$42.6K $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%
$852,760
Cap Rate 7%
$609,114
Cap Rate 9%
$473,756
Alternative Uses
Best Use
Multifamily LT 5
$609.1K
$533.0K – $710.6K
NOI $42,638 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$561.1K
$490.9K – $654.6K
NOI $39,274 @ 7.0% cap · market cap 5.70%
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.67M
NOI $100,454 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,251
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
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 single-floor residences include a three-bedroom layout, central cooling, and a fenced lot in Miami.
Where is this duplex located?
The property is located at 5254 NW 2ND Terrace Miami, FL.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Duplex with two 3‑bedroom, 1‑bath units; Front residence includes an additional bonus room; 2,126 square feet identified for each unit by the property appraiser
