Income-Generating Duplex with
For Sale
$499,900
545 Northwest 81st Street, Miami, FL 33150
Duplex features two 1-bedroom, 1-bath units with separate entrances, electrical meters, and dedicated carports.
Property Size1,692 SF
Price / SF$295.45
Days on Market99
Property Features for 545 Northwest 81st Street
General Information
Standard status
Active
Size
1,692 SF
Property subtype
Multi-Family Income / Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,347
Building Details
Year Built
1953
Listing Agency:
Green Lands Realty
(305) 503-4121
Listed By:
Laura Sanchez · License #3200886
(305) 503-4121
Source:
Compass
Added: May 17
Changed: Aug 23
Last Checked: Aug 21 at 10:29PM
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 Green Lands Realty
Investment Insights
Based on property information with market context.
This income-producing duplex offers two separate units, each configured as a 1-bedroom, 1-bath home. The units have their own private entrances and separate electrical meters, and each includes a dedicated carport.
Located in the Rose Bower subdivision in Miami, the property is described as centrally positioned with easy access to major roadways, as well as nearby shopping, dining, and employment centers.
The duplex format supports independent utility metering and separate entry points for each unit, providing a straightforward setup for rental use.
Located in the Rose Bower subdivision in Miami, the property is described as centrally positioned with easy access to major roadways, as well as nearby shopping, dining, and employment centers.
The duplex format supports independent utility metering and separate entry points for each unit, providing a straightforward setup for rental use.
Key Highlights
- Income‑producing duplex built in 1953 in the Rose Bower subdivision of Miami
- Two 1‑bedroom, 1‑bath units
- Each unit has its own private entrance
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
$33,934
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
6.79%
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%
$678,680
$678.7K
Cap Rate 7%
$484,771
$484.8K
Cap Rate 9%
$377,044
$377.0K
Market Conditions
NOI Build-Up for 1,692 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
$51.8K $30.60/SF
− Vacancy
−$3.3K −$1.95/SF
EGI
$48.5K $28.65/SF
− OpEx
−$14.5K −$8.60/SF
NOI
$33.9K $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%
$678,680
Cap Rate 7%
$484,771
Cap Rate 9%
$377,044
Alternative Uses
Best Use
Multifamily LT 5
$484.8K
$424.2K – $565.6K
NOI $33,934 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$446.5K
$390.7K – $521.0K
NOI $31,257 @ 7.0% cap · market cap 6.25%
Theoretical Best
Specialty Retail
$1.14M
$999.4K – $1.33M
NOI $79,948 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
910
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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 - Duplex features two 1-bedroom, 1-bath units with separate entrances, electrical meters, and dedicated carports.
Where is this duplex located?
The property is located at 545 Northwest 81st Street Miami, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Income‑producing duplex built in 1953 in the Rose Bower subdivision of Miami; Two 1‑bedroom, 1‑bath units; Each unit has its own private entrance
