Two-Unit Duplex with In-Unit
For Sale
$769,000
59 E 10th St, Hialeah, FL 33010
Each unit offers 2 bedrooms, 1 bath, and in-unit laundry, with a new roof and ample parking.
Property Size1,512 SF
Days on Market76
Property Features for 59 E 10th St
General Information
Standard status
Active
Size
1,512 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,701
Building Details
Building Size
1,512 SF
Year Built
1950
Tenancy
Multi
Listing Agency:
The Source Real Estate
Listed By:
Fredni Vilarino · License #3467727
(786) 260-2975
Source:
Marcelosteinmander
Added: Jun 26
Changed: Sep 8
Last Checked: Sep 7 at 8:57AM
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 The Source Real Estate
Investment Insights
Based on property information with market context.
This duplex investment property offers two residential units, each featuring 2 bedrooms and 1 bath. Both units include in-unit laundry rooms and have been updated with modern upgrades. The property also includes a new roof and replacement doors.
The duplex includes ample parking for at least 8 vehicles and features a large back yard, providing usable outdoor space for residents or day-to-day convenience.
The configuration is straightforward for an owner seeking a two-unit residential income property, with consistent layouts across both units and practical on-site parking and outdoor area.
The duplex includes ample parking for at least 8 vehicles and features a large back yard, providing usable outdoor space for residents or day-to-day convenience.
The configuration is straightforward for an owner seeking a two-unit residential income property, with consistent layouts across both units and practical on-site parking and outdoor area.
Key Highlights
- Duplex built in 1950 with 2 units, each offering 2 bedrooms and 1 bath
- Each unit features in‑unit laundry
- Property includes a new roof
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
$21,734
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
2.83%
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%
$434,680
$434.7K
Cap Rate 7%
$310,486
$310.5K
Cap Rate 9%
$241,489
$241.5K
Market Conditions
NOI Build-Up for 1,512 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
$33.6K $22.20/SF
− Vacancy
−$2.5K −$1.67/SF
EGI
$31.0K $20.54/SF
− OpEx
−$9.3K −$6.16/SF
NOI
$21.7K $14.37/SF
Area
Hialeah, FL
Vacancy
7.50%
Lease Rate
$22.20 /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%
$434,680
Cap Rate 7%
$310,486
Cap Rate 9%
$241,489
Alternative Uses
Best Use
Multifamily LT 5
$310.5K
$271.7K – $362.2K
NOI $21,734 @ 7.0% cap · market cap 2.83%
Second Best
Apartment 5plus
$289.2K
$253.1K – $337.5K
NOI $20,247 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$595.1K
$520.7K – $694.3K
NOI $41,659 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,900
Businesses Nearby
Explore this area
Business Placement
Demographics for 33010, FL
43,902
Population
16,456
Households
2.7
Avg Household Size
48
Median Age
20%
College-Educated
71%
High-School Grad
4.3 sq mi
ZIP Area
10,210
Density / Sq Mi
$45,449
Median Household Income
$30,466
Median Earnings
$1,318
Median Rent
$346,500
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 - Each unit offers 2 bedrooms, 1 bath, and in-unit laundry, with a new roof and ample parking.
Where is this duplex located?
The property is located at 59 E 10th St Hialeah, FL.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Duplex built in 1950 with 2 units, each offering 2 bedrooms and 1 bath; Each unit features in‑unit laundry; Property includes a new roof
