Well-Maintained 2-2
For Sale
Contact for pricing
Pending
53 NW 169th Street, North Miami Beach, FL 33169
Turnkey 2/2 duplex with separate A/C units, 2023 roof, and impact windows on one side—no HOA.
Property Size1,775 SF
Days on Market100
Property Features for 53 NW 169th Street
General Information
Standard status
Pending
Size
1,775 SF
Property subtype
Multifamily
Zoning
5700
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1966
Units
3
Listing Agency:
AAA Realty Group INC
Listed By:
Michael Hicks · License #3082475
(305) 970-5634
Source:
Crexi
Added: May 27
Changed: Aug 8
Last Checked: Jul 24 at 12:03PM
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 AAA Realty Group INC
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two separate 2-bedroom, 2-bath units, each with its own A/C system for independent comfort and control. The property is in solid, move-ready condition, with updates that include a newer roof installed in 2023. Impact windows are present on one side of the duplex, providing added protection and peace of mind.
The home is located in a convenient area near major highways, shopping, and dining, supporting easy day-to-day access for residents and guests. There is no HOA, which can provide owners with more flexibility in how they manage the property.
The layout supports flexible ownership use cases, including living in one unit while renting the other, or leasing both units for income. With a maintained interior and the documented exterior improvements, the duplex may appeal to end-users seeking a practical place to live and investors looking for a straightforward rental property without HOA restrictions. Priced for purchase as a duplex with independent systems, this property is designed for straightforward occupancy and ongoing management.
The home is located in a convenient area near major highways, shopping, and dining, supporting easy day-to-day access for residents and guests. There is no HOA, which can provide owners with more flexibility in how they manage the property.
The layout supports flexible ownership use cases, including living in one unit while renting the other, or leasing both units for income. With a maintained interior and the documented exterior improvements, the duplex may appeal to end-users seeking a practical place to live and investors looking for a straightforward rental property without HOA restrictions. Priced for purchase as a duplex with independent systems, this property is designed for straightforward occupancy and ongoing management.
Key Highlights
- Well‑maintained 2/2 duplex built in 1966 with two separate units
- Each unit has its own A/C system for independent comfort and efficiency
- Newer roof installed in 2023
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
$29,589
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
4.59%
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%
$591,780
$591.8K
Cap Rate 7%
$422,700
$422.7K
Cap Rate 9%
$328,767
$328.8K
Market Conditions
NOI Build-Up for 1,775 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
$44.7K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$42.3K $23.81/SF
− OpEx
−$12.7K −$7.14/SF
NOI
$29.6K $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%
$591,780
Cap Rate 7%
$422,700
Cap Rate 9%
$328,767
Alternative Uses
Best Use
Multifamily LT 5
$422.7K
$369.9K – $493.2K
NOI $29,589 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$390.0K
$341.2K – $455.0K
NOI $27,298 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$900.5K
$788.0K – $1.05M
NOI $63,037 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 33169, FL
42,308
Population
14,815
Households
2.9
Avg Household Size
37
Median Age
22%
College-Educated
85%
High-School Grad
6.8 sq mi
ZIP Area
6,222
Density / Sq Mi
$59,686
Median Household Income
$34,327
Median Earnings
$1,536
Median Rent
$352,800
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 - Turnkey 2/2 duplex with separate A/C units, 2023 roof, and impact windows on one side—no HOA.
Where is this duplex located?
The property is located at 53 NW 169th Street North Miami Beach, FL.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Well‑maintained 2/2 duplex built in 1966 with two separate units; Each unit has its own A/C system for independent comfort and efficiency; Newer roof installed in 2023
