Fenced Duplex With Separate
New
For Sale
$975,000
5504 NW 3rd Ave, Miami, FL 33127
Residential Income, Miami, FL
Property Size2,233 SF
Price / SF$436.63
Days on Market2
Property Features for 5504 NW 3rd Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
8
Full bathrooms
5
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 7, Bathroom 5, Bedroom 8, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 3, Bedroom 5
Parking
4
Subdivision
BUENA VISTA GARDENS
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-13-042-2120
Size
2,233 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BUENA VISTA GARDENS PB 5-45 LOT 6 BLK 12 LOT SIZE 50.000 X 125 COC 26274-4692 02 2008 6
Tax Annual Amount
9685
Legal Description
BUENA VISTA GARDENS PB 5-45 LOT 6 BLK 12 LOT SIZE 50.000 X 125 COC 26274-4692 02 2008 6
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
fenced/gated property
laundry facilities
Building Details
Year built
1930
Floors in Building
2
Flooring type
Laminate, Tile
Building materials
Frame, Stucco
Roof type
Shingle
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Marsha Edwards · License #3238169
(954) 806-0777
Added: Sep 14
Last Checked: Sep 15 at 10:06AM
MLS# A12088467
Copyright © 2026 Miami REALTORS®. 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 2,233-square-foot duplex property at 5504 NW 3rd Ave includes a four-bedroom, two-bathroom single-family house and a separate apartment building containing two two-bedroom, one-bathroom units. The fully fenced and gated site has off-street parking, landscaping, and laundry facilities for each unit. Construction includes frame and stucco, with tile and laminate flooring, central heating, central air, and a shingle roof replaced in 2025.
The property is in Miami’s West Buena Vista and Little Haiti area, with access to Wynwood, the Miami Design District, Miami International Airport, the Cruise Port, Miami Arena, and UM Jackson. Utilities include two electric meters, one water meter, cable availability, and public sewer service.
The property is in Miami’s West Buena Vista and Little Haiti area, with access to Wynwood, the Miami Design District, Miami International Airport, the Cruise Port, Miami Arena, and UM Jackson. Utilities include two electric meters, one water meter, cable availability, and public sewer service.
Key Highlights
- 2,233‑square‑foot duplex property with a main house and separate apartment building
- Main residence includes 4 bedrooms and 2 bathrooms
- Separate apartment building has two 2‑bedroom, 1‑bathroom units
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
Lease Details
3
Residential units
Yes
Utilities to site
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
View Realmo Analytics
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 - The property combines a single-family residence with a separate apartment building and two electric meters.
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 with a main house and separate apartment building; Main residence includes 4 bedrooms and 2 bathrooms; Separate apartment building has two 2‑bedroom, 1‑bathroom units
