Two-Unit Duplex with Private
For Sale
$514,000
5731 Northwest 6th Avenue, Miami, FL 33127
Two residential units provide separate access, practical layouts, and proximity to major Miami destinations.
Property Size1,236 SF
Price / SF$415.86
Days on Market169
Property Features for 5731 Northwest 6th Avenue
General Information
Standard status
Active
Size
1,236 SF
Property subtype
Multi-Family Income / Duplex
Taxes and HOA fees
Annual Taxes
$7,390
Building Details
Year Built
1954
Listing Agency:
Lexico Realty Inc
(954) 328-6498
Listed By:
Sylvia Pozo · License #3419056
(954) 328-6498
Source:
Compass
Added: Mar 17
Changed: Aug 31
Last Checked: Aug 31 at 2:12AM
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 Lexico Realty Inc
Investment Insights
Based on property information with market context.
This duplex contains 1,236 square feet and was built in 1954. The property includes two residential units, each configured with two bedrooms and one bathroom. Separate entrances serve the units, which also feature functional living areas and ample natural light. Both units are currently rented.
Located at 5731 Northwest 6th Avenue in Miami, the property is near Wynwood, the Design District, Downtown Miami, and major highways. The duplex sits on a spacious lot with ample parking, adding practical convenience for residents and supporting the two-unit configuration.
The property offers a straightforward residential income setup with two similarly configured units and established occupancy.
Located at 5731 Northwest 6th Avenue in Miami, the property is near Wynwood, the Design District, Downtown Miami, and major highways. The duplex sits on a spacious lot with ample parking, adding practical convenience for residents and supporting the two-unit configuration.
The property offers a straightforward residential income setup with two similarly configured units and established occupancy.
Key Highlights
- Two‑unit duplex with 1,236 SF of property size
- Each unit includes 2 bedrooms and 1 bathroom
- Separate private entrances for both 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
$24,789
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
4.82%
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%
$495,780
$495.8K
Cap Rate 7%
$354,129
$354.1K
Cap Rate 9%
$275,433
$275.4K
Market Conditions
NOI Build-Up for 1,236 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
$37.8K $30.60/SF
− Vacancy
−$2.4K −$1.95/SF
EGI
$35.4K $28.65/SF
− OpEx
−$10.6K −$8.60/SF
NOI
$24.8K $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%
$495,780
Cap Rate 7%
$354,129
Cap Rate 9%
$275,433
Alternative Uses
Best Use
Multifamily LT 5
$354.1K
$309.9K – $413.2K
NOI $24,789 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$326.2K
$285.4K – $380.6K
NOI $22,833 @ 7.0% cap · market cap 4.44%
Theoretical Best
Specialty Retail
$834.3K
$730.0K – $973.4K
NOI $58,402 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,526
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
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 - Two residential units provide separate access, practical layouts, and proximity to major Miami destinations.
Where is this duplex located?
The property is located at 5731 Northwest 6th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $514,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,236 SF of property size; Each unit includes 2 bedrooms and 1 bathroom; Separate private entrances for both units
