Spacious Duplex with Driveway
For Sale
$609,900
6228 NW 4th Ave, Miami, FL 33150
Duplex offers a 3BR/1BA unit and a 2BR/1BA unit, with private front entrance and driveway parking.
Property Size1,639 SF
Price / SF$372.12
Days on Market113
Property Features for 6228 NW 4th Ave
General Information
Standard status
Active
Size
1,639 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,068
Building Details
Building Size
1,639 SF
Year Built
1985
Listing Agency:
Compass Florida, LLC
Listed By:
Jorge Andrade · License #3050246
(305) 300-4975
Source:
Casacollectiongroup
Added: May 19
Changed: Sep 8
Last Checked: Sep 8 at 10:10AM
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.
This spacious duplex includes two residential units configured as a 3BR/1BA and a 2BR/1BA. The property has a private front entrance and driveway parking, with a shared fenced yard between the units. A central air conditioning system has been recently replaced.
Located in Miami’s Little River/Edison area, the home is described as centrally positioned near Miami Edison Senior High and with convenient access to I-95 and major destinations including Wynwood, the Design District, and Midtown.
For practical day-to-day use, the duplex arrangement supports separate living spaces for each unit while maintaining shared outdoor space within the fenced yard.
Located in Miami’s Little River/Edison area, the home is described as centrally positioned near Miami Edison Senior High and with convenient access to I-95 and major destinations including Wynwood, the Design District, and Midtown.
For practical day-to-day use, the duplex arrangement supports separate living spaces for each unit while maintaining shared outdoor space within the fenced yard.
Key Highlights
- Duplex built in 1985 with two separate units: 3BR/1BA and 2BR/1BA
- Recently replaced A/C system
- Private front entrance and driveway parking
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
$32,871
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
5.39%
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%
$657,420
$657.4K
Cap Rate 7%
$469,586
$469.6K
Cap Rate 9%
$365,233
$365.2K
Market Conditions
NOI Build-Up for 1,639 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
$50.2K $30.60/SF
− Vacancy
−$3.2K −$1.95/SF
EGI
$47.0K $28.65/SF
− OpEx
−$14.1K −$8.60/SF
NOI
$32.9K $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%
$657,420
Cap Rate 7%
$469,586
Cap Rate 9%
$365,233
Alternative Uses
Best Use
Multifamily LT 5
$469.6K
$410.9K – $547.9K
NOI $32,871 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$432.5K
$378.5K – $504.6K
NOI $30,278 @ 7.0% cap · market cap 4.96%
Theoretical Best
Specialty Retail
$1.11M
$968.0K – $1.29M
NOI $77,443 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,814
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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 - Duplex offers a 3BR/1BA unit and a 2BR/1BA unit, with private front entrance and driveway parking.
Where is this duplex located?
The property is located at 6228 NW 4th Ave Miami, FL.
What is the asking price?
The asking price for this property is $609,900.
What are key features of this property?
This property features: Duplex built in 1985 with two separate units: 3BR/1BA and 2BR/1BA; Recently replaced A/C system; Private front entrance and driveway parking
