Two-Unit Residential Income
611 SW 8th Ave Homestead, FL 33030
For Sale
Contact for pricing
Duplex with two 2-bedroom, 1-bath units, each with its own water and electric meters.
Property Size1,562 SF
Price / SF$284.89
Days on Market103
Property Features for 611 SW 8th Ave
General Information
- Standard status
- Active
- Size
- 1,562 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1966
Listing Agency:
MSP Group
(786) 671-0149
Listed By:
Deme Mekras · License #0704134
Source:
Crexi
Added: Apr 13
Changed: Jul 21
Last Checked: Jul 23 at 1:11PM
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 MSP Group
Investment Insights
Based on property information with market context.
This duplex offers two separate 2-bedroom, 1-bath units, each with approximately 713 square feet of living space. Both units include a formal living area and a kitchen equipped with a refrigerator, stovetop, oven, and an over-the-range microwave. Each unit is supported by wall A/C units and features shuttered windows, alongside concrete roofs.
The property is located near US 1 and the Florida Turnpike, Miami-Dade County’s major north/south thoroughfares. It is also minutes from Downtown Homestead, an area seeing public and commercial investment including a new Police Station, City Hall, the reopening of the historic Seminole Theatre, and the Homestead Station development described as including a movie theatre, bowling alley, arcade, dining, and retail. The area continues to develop with single-family homes, duplexes, and larger multifamily properties.
For utilities, the duplex has individual meters for water and electricity, which can help lower operating costs for the owner.
The property is located near US 1 and the Florida Turnpike, Miami-Dade County’s major north/south thoroughfares. It is also minutes from Downtown Homestead, an area seeing public and commercial investment including a new Police Station, City Hall, the reopening of the historic Seminole Theatre, and the Homestead Station development described as including a movie theatre, bowling alley, arcade, dining, and retail. The area continues to develop with single-family homes, duplexes, and larger multifamily properties.
For utilities, the duplex has individual meters for water and electricity, which can help lower operating costs for the owner.
Key Highlights
- Duplex built in 1966 with two 2‑bedroom, 1‑bath units.
- Each unit has approximately 713 SF, including a formal living area and kitchen.
- Units include wall A/C and shuttered windows; concrete roofs are noted in the remarks.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.4k | $25.20 |
| − Vacancy | −$2.2k | −$1.39 |
| EGI | $37.2k | $23.81 |
| − OpEx | −$11.2k | −$7.14 |
| NOI | $26.0k | $16.67 |
1,562 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$372.0K
$325.5K – $434.0K
NOI $26,038 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$343.2K
$300.3K – $400.4K
NOI $24,022 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$792.5K
$693.4K – $924.6K
NOI $55,473 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with two 2-bedroom, 1-bath units, each with its own water and electric meters.
Where is this duplex located?
The property is located at 611 SW 8th Ave Homestead, FL.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Duplex built in 1966 with two 2‑bedroom, 1‑bath units.; Each unit has approximately 713 SF, including a formal living area and kitchen.; Units include wall A/C and shuttered windows; concrete roofs are noted in the remarks.
