Fourplex Investment Opportunity For
For Sale
$1,100,000
5520 NE 1st Ct, Miami, FL 33137
Fourplex with updated units and hurricane impact windows.
Property Size2,180 SF
Days on Market274
Property Features for 5520 NE 1st Ct
General Information
Standard status
Active
Size
2,180 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,764
Building Details
Building Size
2,180 SF
Year Built
1955
Stories
1
Listing Agency:
JMC Real Estate Miami, Inc
(305) 510-5589
Listed By:
Jorge Martinez de Castro Jr · License #3410393
(305) 510-5589
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Aug 26 at 12:33PM
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 JMC Real Estate Miami, Inc
Investment Insights
Based on property information with market context.
This property is a fourplex, presenting an investment opportunity. Each of the four units includes one bedroom and one bathroom, and all units have been updated. The building is equipped with hurricane impact glass windows throughout. Individual electrical meters are located in a dedicated meter room. The property is currently occupied by month-to-month tenants and has recently passed re-certification. It is located in an opportunity zone.
Key Highlights
- Excellent fourplex investment opportunity
- Updated 1 bedroom and 1 bathroom units
- Hurricane impact glass windows throughout
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
$43,721
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
3.97%
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%
$874,420
$874.4K
Cap Rate 7%
$624,586
$624.6K
Cap Rate 9%
$485,789
$485.8K
Market Conditions
NOI Build-Up for 2,180 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
$66.7K $30.60/SF
− Vacancy
−$4.2K −$1.95/SF
EGI
$62.5K $28.65/SF
− OpEx
−$18.7K −$8.60/SF
NOI
$43.7K $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%
$874,420
Cap Rate 7%
$624,586
Cap Rate 9%
$485,789
Alternative Uses
Best Use
Multifamily LT 5
$624.6K
$546.5K – $728.7K
NOI $43,721 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$575.3K
$503.4K – $671.2K
NOI $40,272 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,006 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with updated units and hurricane impact windows.
Where is this quadplex located?
The property is located at 5520 NE 1st Ct Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Excellent fourplex investment opportunity; Updated 1 bedroom and 1 bathroom units; Hurricane impact glass windows throughout
