Renovated Duplex with Impact
For Sale
$1,250,000
67 Northwest 34th Street, Miami, FL 33127
Two residential units offer a flexible five-bedroom, three-bathroom configuration in Miami’s Wynwood area.
Property Size1,920 SF
Price / SF$651.04
Days on Market311
Property Features for 67 Northwest 34th Street
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Residential Income / Duplex
Taxes and HOA fees
Annual Taxes
$6,120
Amenities
new roof
central air
impact windows
fence
Building Details
Year Built
1971
Listing Agency:
Premier Realty & Invest. Group
(305) 756-4450
Listed By:
Geraldine Khawly · License #3112869
(305) 756-4450
Source:
Compass
Added: Oct 26, 2025
Changed: Aug 31
Last Checked: Aug 30 at 11:29PM
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 Premier Realty & Invest. Group
Investment Insights
Based on property information with market context.
This 1,920-square-foot duplex, built in 1971, contains two residential units: one with two bedrooms and one bathroom, and another with three bedrooms and two bathrooms. The property has undergone extensive renovation and includes a newer roof, central air conditioning, impact windows, and a fenced site.
Located at 67 Northwest 34th Street in Miami, the property is in the Wynwood area, with Midtown and the Design District described as being within steps of the site. The two-unit configuration provides a combination of renovated improvements and flexible residential layout.
Located at 67 Northwest 34th Street in Miami, the property is in the Wynwood area, with Midtown and the Design District described as being within steps of the site. The two-unit configuration provides a combination of renovated improvements and flexible residential layout.
Key Highlights
- 1,920 SF duplex with two residential units
- Unit mix includes 2 bedrooms/1 bathroom and 3 bedrooms/2 bathrooms
- Renovated with a new roof and central air conditioning
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
$38,507
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
3.08%
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%
$770,140
$770.1K
Cap Rate 7%
$550,100
$550.1K
Cap Rate 9%
$427,856
$427.9K
Market Conditions
NOI Build-Up for 1,920 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
$58.8K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$55.0K $28.65/SF
− OpEx
−$16.5K −$8.60/SF
NOI
$38.5K $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%
$770,140
Cap Rate 7%
$550,100
Cap Rate 9%
$427,856
Alternative Uses
Best Use
Multifamily LT 5
$550.1K
$481.3K – $641.8K
NOI $38,507 @ 7.0% cap · market cap 3.08%
Second Best
Apartment 5plus
$506.7K
$443.4K – $591.2K
NOI $35,469 @ 7.0% cap · market cap 2.84%
Theoretical Best
Specialty Retail
$1.30M
$1.13M – $1.51M
NOI $90,721 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,808
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 - Two residential units offer a flexible five-bedroom, three-bathroom configuration in Miami’s Wynwood area.
Where is this duplex located?
The property is located at 67 Northwest 34th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1,920 SF duplex with two residential units; Unit mix includes 2 bedrooms/1 bathroom and 3 bedrooms/2 bathrooms; Renovated with a new roof and central air conditioning
