Two-Unit Duplex with
For Sale
$699,000
Pending
5819 NW 37th St, Virginia Gardens, FL 33166
Residential Income, Virginia Gardens, FL
Property Size1,425 SF
Lot Size0.26 Acres
Days on Market44
Property Features for 5819 NW 37th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1
Parking
4
Patio and Porch features
Patio, Porch
Exterior features
Fence, Porch, Patio, Shed
Fencing
Fenced
Subdivision
REPL OF A PORT OF 1ST ADD
Lot features
< 1/4 Acre
Standard status
Pending
APN
26-30-25-022-0050
Size
1,425 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
REPL OF A PORT OF 1ST ADD TO GREEN HAVEN PB 62-100 LOT 13 LESS N25FT LOT SIZE 72.550 X 154 OR 13241-250 0487 1
Tax Annual Amount
10343
Legal Description
REPL OF A PORT OF 1ST ADD TO GREEN HAVEN PB 62-100 LOT 13 LESS N25FT LOT SIZE 72.550 X 154 OR 13241-250 0487 1
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer
Building Details
Year built
1956
Floors in Building
1
Flooring type
Terrazzo
Building materials
Block
Roof type
Shingle
Listing Agency:
The Keyes Company
(305) 822-9800
Listed By:
Angel Alvarez · License #3222958
(786) 357-0531
Added: Jul 18
Changed: Aug 27
Last Checked: Aug 30 at 4:06PM
MLS# A12047901
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 1,425-square-foot block duplex, built in 1956, contains two residences with a consistent layout of two bedrooms and one bathroom per unit. Each residence has its own washer and dryer, while central heating and central air provide building-wide climate control. Additional physical features include terrazzo flooring, a shingle roof, fencing, a porch, a patio, and a shed.
The property occupies an oversized 11,173-square-foot lot at 5819 NW 37th St in Virginia Gardens. A large driveway provides parking for up to six vehicles. The property is near Miami International Airport, shopping, dining, parks, grocery stores, public transportation, and major highways. Public water and septic service are reported.
The property occupies an oversized 11,173-square-foot lot at 5819 NW 37th St in Virginia Gardens. A large driveway provides parking for up to six vehicles. The property is near Miami International Airport, shopping, dining, parks, grocery stores, public transportation, and major highways. Public water and septic service are reported.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,425 square feet on an 11,173‑square‑foot lot
- Large driveway with parking for up to six vehicles
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
$23,754
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
3.40%
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%
$475,080
$475.1K
Cap Rate 7%
$339,343
$339.3K
Cap Rate 9%
$263,933
$263.9K
Market Conditions
NOI Build-Up for 1,425 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
$35.9K $25.20/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$33.9K $23.81/SF
− OpEx
−$10.2K −$7.14/SF
NOI
$23.8K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$475,080
Cap Rate 7%
$339,343
Cap Rate 9%
$263,933
Alternative Uses
Best Use
Multifamily LT 5
$339.3K
$296.9K – $395.9K
NOI $23,754 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$313.1K
$274.0K – $365.3K
NOI $21,916 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$723.0K
$632.6K – $843.5K
NOI $50,607 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 33166, FL
26,106
Population
10,838
Households
2.4
Avg Household Size
41
Median Age
42%
College-Educated
83%
High-School Grad
7.9 sq mi
ZIP Area
3,305
Density / Sq Mi
$78,166
Median Household Income
$39,744
Median Earnings
$1,766
Median Rent
$489,200
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?
Duplex - Both residences include private laundry, outdoor areas, and central heating and cooling.
Where is this duplex located?
The property is located at 5819 NW 37th St Virginia Gardens, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,425 square feet on an 11,173‑square‑foot lot; Large driveway with parking for up to six vehicles
