Two-Unit Duplex with
For Sale
$1,120,000
6141 NW 1st Ave, Miami, FL 33127
Constructed in 2024, the property combines two matching residences with dedicated parking at a corner site.
Property Size2,244 SF
Lot Size0.13 Acres
Price / SF$499.11
Days on Market9
Property Features for 6141 NW 1st Ave
General Information
Standard status
Active
Size
2,244 SF
Total Parking Spaces
4
Lot size
0.13 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
2
Additional Details
Opportunity Zone
Yes
Taxes and HOA fees
Annual Taxes
$10,348
Building Details
Building Size
2,244 SF
Year Built
2024
Listing Agency:
Compass Florida, LLC
Listed By:
Maura Padron · License #3468391
(786) 204-6032
Source:
Casacollectiongroup
Added: Aug 25
Changed: Aug 29
Last Checked: Sep 2 at 12:36AM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
Completed in 2024, this duplex contains two 1,341-square-foot residences. Each side offers three bedrooms and 2.5 baths, creating a matching two-unit configuration with four dedicated parking spaces overall, or two assigned to each residence. The 5,617-square-foot corner lot supports the existing improvements and provides a clearly defined residential income property format.
The property is located at 6141 NW 1st Ave in Miami’s Little Haiti, with the Design District, Wynwood, and Midtown described as minutes away. It is also identified as being within an Opportunity Zone, with related tax treatment available to qualifying investors.
The stated use options include occupying one residence while leasing the other, or leasing both units. Rent roll and financial information are available upon request.
The property is located at 6141 NW 1st Ave in Miami’s Little Haiti, with the Design District, Wynwood, and Midtown described as minutes away. It is also identified as being within an Opportunity Zone, with related tax treatment available to qualifying investors.
The stated use options include occupying one residence while leasing the other, or leasing both units. Rent roll and financial information are available upon request.
Key Highlights
- Two‑unit duplex completed in 2024
- Each residence measures 1,341 SF with 3 bedrooms and 2.5 baths
- 5,617 SF corner lot
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
$45,005
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
4.02%
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%
$900,100
$900.1K
Cap Rate 7%
$642,929
$642.9K
Cap Rate 9%
$500,056
$500.1K
Market Conditions
NOI Build-Up for 2,244 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
$68.7K $30.60/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$64.3K $28.65/SF
− OpEx
−$19.3K −$8.60/SF
NOI
$45.0K $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%
$900,100
Cap Rate 7%
$642,929
Cap Rate 9%
$500,056
Alternative Uses
Best Use
Multifamily LT 5
$642.9K
$562.6K – $750.1K
NOI $45,005 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$592.2K
$518.2K – $690.9K
NOI $41,454 @ 7.0% cap · market cap 3.70%
Theoretical Best
Specialty Retail
$1.51M
$1.33M – $1.77M
NOI $106,030 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,354
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 - Constructed in 2024, the property combines two matching residences with dedicated parking at a corner site.
Where is this duplex located?
The property is located at 6141 NW 1st Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,120,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2024; Each residence measures 1,341 SF with 3 bedrooms and 2.5 baths; 5,617 SF corner lot
