Two-Unit Duplex with Shared
For Sale
Contact for pricing
6322 NE 1st Pl, Miami, FL 33138
Each residence combines one-bedroom, one-bath layouts with laminate flooring, stainless steel appliances, and contemporary fixtures.
Property Size1,368 SF
Price / SF$460.53
Days on Market173
Property Features for 6322 NE 1st Pl
General Information
Standard status
Active
Size
1,368 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
5700
Units
Unit Mix
2 x 1 bed/1 bath
Multifamily Units
2
Amenities
shared backyard
Building Details
Year Built
1954
Listing Agency:
Keller Williams Elite Properties
(786) 248-3268
Listed By:
Rafael Goicouria · License #3102634
Source:
Crexi
Added: Mar 13
Changed: Aug 31
Last Checked: Aug 31 at 4:56AM
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 Keller Williams Elite Properties
Investment Insights
Based on property information with market context.
This duplex contains 1,296 square feet and was built in 1954. The property is arranged as two separate residences, with each unit offering one bedroom and one bathroom. Interior features include laminate flooring, stainless steel appliances, and modern fixtures. A shared backyard provides outdoor space for the occupants.
Located at 6322 Northeast 1st Place in Miami, Florida 33138, the property presents a compact two-unit configuration with established residential improvements and shared exterior space.
Located at 6322 Northeast 1st Place in Miami, Florida 33138, the property presents a compact two-unit configuration with established residential improvements and shared exterior space.
Key Highlights
- Two‑unit duplex with each residence offering 1 bed/1 bath
- 1,296 SF property built in 1954
- Laminate flooring in both units
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
$27,436
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
4.35%
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%
$548,720
$548.7K
Cap Rate 7%
$391,943
$391.9K
Cap Rate 9%
$304,844
$304.8K
Market Conditions
NOI Build-Up for 1,368 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
$41.9K $30.60/SF
− Vacancy
−$2.7K −$1.95/SF
EGI
$39.2K $28.65/SF
− OpEx
−$11.8K −$8.60/SF
NOI
$27.4K $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%
$548,720
Cap Rate 7%
$391,943
Cap Rate 9%
$304,844
Alternative Uses
Best Use
Multifamily LT 5
$391.9K
$343.0K – $457.3K
NOI $27,436 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$361.0K
$315.9K – $421.2K
NOI $25,272 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$923.4K
$808.0K – $1.08M
NOI $64,639 @ 7.0% cap · market cap 10.26%
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
2,261
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
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 residence combines one-bedroom, one-bath layouts with laminate flooring, stainless steel appliances, and contemporary fixtures.
Where is this duplex located?
The property is located at 6322 NE 1st Pl Miami, FL.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Two‑unit duplex with each residence offering 1 bed/1 bath; 1,296 SF property built in 1954; Laminate flooring in both units
