Gated Duplex with New
For Sale
$975,000
5504 NW 3rd Ave, Miami, FL 33127
Income-producing residential property with separate living spaces, individual laundry facilities, and secured outdoor areas.
Property Size2,233 SF
Days on Market13
Property Features for 5504 NW 3rd Ave
General Information
Standard status
Active
Size
2,233 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$9,685
Building Details
Building Size
2,233 SF
Year Built
1930
Listing Agency:
LoKation
Listed By:
Marsha Edwards · License #3238169
(954) 545-5583
Source:
Vanessafrankmiami
Added: Sep 14
Changed: Sep 23
Last Checked: Sep 24 at 5:38PM
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 LoKation
Investment Insights
Based on property information with market context.
This 2,233-square-foot duplex property, built in 1930, includes a four-bedroom, two-bathroom house and a separate apartment building with two-bedroom, one-bathroom residences. Each unit has dedicated laundry facilities, while the grounds are enclosed with fencing and a gate. The property also includes landscaped areas, off-street parking, two electric meters, and one water meter. A new roof was installed in 2025.
The property is in the West Buena Vista and Little Haiti area of Miami, with access to Wynwood, the Miami Design District, Miami International Airport, the Cruise Port, Miami Arena, and UM Jackson. Its location and multi-unit configuration support residential income use within a central Miami setting.
The property is in the West Buena Vista and Little Haiti area of Miami, with access to Wynwood, the Miami Design District, Miami International Airport, the Cruise Port, Miami Arena, and UM Jackson. Its location and multi-unit configuration support residential income use within a central Miami setting.
Key Highlights
- 2,233‑square‑foot duplex property built in 1930
- Four‑bedroom, two‑bathroom house plus separate apartment building
- Apartment residences feature two bedrooms and one bathroom
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
$44,784
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%
$895,680
$895.7K
Cap Rate 7%
$639,771
$639.8K
Cap Rate 9%
$497,600
$497.6K
Market Conditions
NOI Build-Up for 2,233 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
$68.3K $30.60/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$64.0K $28.65/SF
− OpEx
−$19.2K −$8.60/SF
NOI
$44.8K $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%
$895,680
Cap Rate 7%
$639,771
Cap Rate 9%
$497,600
Alternative Uses
Best Use
Multifamily LT 5
$639.8K
$559.8K – $746.4K
NOI $44,784 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$589.3K
$515.6K – $687.5K
NOI $41,251 @ 7.0% cap · market cap 4.23%
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,510 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,646
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing residential property with separate living spaces, individual laundry facilities, and secured outdoor areas.
Where is this duplex located?
The property is located at 5504 NW 3rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 2,233‑square‑foot duplex property built in 1930; Four‑bedroom, two‑bathroom house plus separate apartment building; Apartment residences feature two bedrooms and one bathroom
