Triplex with Detached Guest
For Sale
$810,000
529 SW 79th Avenue, Miami, FL 33144
Three distinct living areas offer flexible occupancy and rental-use options.
Property Size1,663 SF
Days on Market26
Property Features for 529 SW 79th Avenue
General Information
Standard status
Active
Size
1,663 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,636
Building Details
Building Size
1,663 SF
Year Built
1955
Listing Agency:
Bravo & Partners Realty
(786) 277-4523
Listed By:
Dalia Orta · License #0679853
(786) 277-4523
Source:
Silverleafrealtygroup
Added: Aug 5
Changed: Aug 30
Last Checked: Aug 30 at 3:59AM
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 Bravo & Partners Realty
Investment Insights
Based on property information with market context.
This Miami property contains three separate living areas within a versatile residential configuration. The primary residence includes 2 bedrooms and 1 bathroom, while an attached 1-bedroom, 1-bath unit provides additional space. A detached guest house adds a third 1-bedroom, 1-bath living area and is identified as fully legal. Built in 1955, the property is situated in a Duplex-zoned area.
The location provides access to major expressways, shopping centers, supermarkets, restaurants, parks, schools, and other Miami amenities. The layout can accommodate a range of occupancy arrangements, including use by an owner alongside additional residential units.
The location provides access to major expressways, shopping centers, supermarkets, restaurants, parks, schools, and other Miami amenities. The layout can accommodate a range of occupancy arrangements, including use by an owner alongside additional residential units.
Key Highlights
- Three living areas: a 2‑bedroom, 1‑bath main residence, attached 1‑bedroom, 1‑bath unit, and detached 1‑bedroom, 1‑bath guest house
- Detached guest house is identified as fully legal
- Property is located in a Duplex‑zoned area
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
$33,352
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
4.12%
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%
$667,040
$667.0K
Cap Rate 7%
$476,457
$476.5K
Cap Rate 9%
$370,578
$370.6K
Market Conditions
NOI Build-Up for 1,663 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
$50.9K $30.60/SF
− Vacancy
−$3.2K −$1.95/SF
EGI
$47.6K $28.65/SF
− OpEx
−$14.3K −$8.60/SF
NOI
$33.4K $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%
$667,040
Cap Rate 7%
$476,457
Cap Rate 9%
$370,578
Alternative Uses
Best Use
Multifamily LT 5
$476.5K
$416.9K – $555.9K
NOI $33,352 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$438.9K
$384.0K – $512.0K
NOI $30,721 @ 7.0% cap · market cap 3.79%
Theoretical Best
Specialty Retail
$1.12M
$982.2K – $1.31M
NOI $78,577 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 33144, FL
25,814
Population
9,665
Households
2.7
Avg Household Size
48
Median Age
28%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
8,327
Density / Sq Mi
$59,207
Median Household Income
$35,051
Median Earnings
$1,730
Median Rent
$440,600
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?
Triplex - Three distinct living areas offer flexible occupancy and rental-use options.
Where is this triplex located?
The property is located at 529 SW 79th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $810,000.
What are key features of this property?
This property features: Three living areas: a 2‑bedroom, 1‑bath main residence, attached 1‑bedroom, 1‑bath unit, and detached 1‑bedroom, 1‑bath guest house; Detached guest house is identified as fully legal; Property is located in a Duplex‑zoned area
