Duplex with 3-Bedroom
For Sale
$450,000
6142 SW 40th Court, Miramar, FL 33023
Residential Income, Miramar, FL
Property Size1,525 SF
Lot Size0.12 Acres
Price / SF$295.08
Days on Market51
Property Features for 6142 SW 40th Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM4
Bedrooms
4
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1
Exterior features
Garden
Subdivision
SUN LAND PARK
Elementary school
Annabel C. Perry Pk-8
High school
Miramar
Standard status
Active
APN
514125130270
Size
1,525 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUN LAND PARK 25-30 B LOT 28 BLK 1
Tax Annual Amount
6915
Legal Description
SUN LAND PARK 25-30 B LOT 28 BLK 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
CBS
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Added: Jul 8
Changed: Aug 21
Last Checked: Aug 27 at 10:06PM
MLS# B26050885
Copyright © 2026 BeachesMLS. 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 duplex contains a 3-bedroom, 2-bath unit alongside a 1-bedroom, 1-bath unit within 1,525 square feet. The building requires updating and was constructed in 1956 with CBS materials and tile flooring. Central heating is installed, while cooling includes central air and window or wall/window units.
The property sits on a 0.12-acre parcel at 6142 SW 40th Court in Miramar, Florida. RM4 zoning applies, with public water, public sewer, and cable availability. Exterior features include a garden, and the property is located in Broward County within the 33023 postal area.
The property sits on a 0.12-acre parcel at 6142 SW 40th Court in Miramar, Florida. RM4 zoning applies, with public water, public sewer, and cable availability. Exterior features include a garden, and the property is located in Broward County within the 33023 postal area.
Key Highlights
- Two‑unit configuration with one 3‑bedroom, 2‑bath residence and one 1‑bedroom, 1‑bath residence
- 1,525 square feet of property size
- 0.12‑acre parcel in Miramar, FL
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
$17,904
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
3.98%
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%
$358,080
$358.1K
Cap Rate 7%
$255,771
$255.8K
Cap Rate 9%
$198,933
$198.9K
Market Conditions
NOI Build-Up for 1,525 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
$26.4K $17.28/SF
− Vacancy
−$775 −$0.51/SF
EGI
$25.6K $16.77/SF
− OpEx
−$7.7K −$5.03/SF
NOI
$17.9K $11.74/SF
Area
Miramar, FL
Vacancy
2.94%
Lease Rate
$17.28 /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%
$358,080
Cap Rate 7%
$255,771
Cap Rate 9%
$198,933
Alternative Uses
Best Use
Multifamily LT 5
$255.8K
$223.8K – $298.4K
NOI $17,904 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$224.3K
$196.3K – $261.7K
NOI $15,702 @ 7.0% cap · market cap 3.49%
Theoretical Best
Specialty Retail
$709.7K
$621.0K – $828.0K
NOI $49,678 @ 7.0% cap · market cap 11.04%
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
800
Businesses Nearby
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
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 - The property has RM4 zoning, public water and sewer, and two residential units.
Where is this duplex located?
The property is located at 6142 SW 40th Court Miramar, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit configuration with one 3‑bedroom, 2‑bath residence and one 1‑bedroom, 1‑bath residence; 1,525 square feet of property size; 0.12‑acre parcel in Miramar, FL
