641 NW 2nd Street Miami, FL 33128
Six two-bedroom, one-bath units on a 7,500 SF lot with assigned parking and on-site laundry.
Property Features for 641 NW 2nd Street
General Information
- Standard status
- Active
- Size
- 4,688 SF
- Lot size
- 0.17 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1972
Listing office Avenew Realty Corp (786) 877-9520
Listing date Apr 23, 2026
Source Xome
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Investment Insights
Based on property information with market context.
The property is located at 641 NW 2nd Street in Miami, Florida (Little River area per the remarks). It sits on a 7,500 SF lot and is described as being zoned T6-8-O.
For buyers seeking an income-producing asset, this configuration supports straightforward operations with consistent unit mix, assigned parking, and shared laundry facilities within the building.
Key Highlights
- Six 2‑bedroom, 1‑bath units in a multifamily building
- All units have assigned parking; parking included as part of the offering
- On‑site laundry available for tenants
Local Financial Insights For Apartment 5plus
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 | $168.8k | $36.00 |
| − Vacancy | −$11.3k | −$2.41 |
| EGI | $157.5k | $33.59 |
| − OpEx | −$70.9k | −$15.11 |
| NOI | $86.6k | $18.47 |
