Side-by-Side
New
For Sale
$850,000
670 NE 87th Street, Miami, FL 33138
Residential Income, Miami, FL
Property Size1,584 SF
Lot Size0.16 Acres
Price / SF$536.62
Days on Market4
Property Features for 670 NE 87th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
4600
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Pets allowed
No, Yes
Fencing
Fenced
Subdivision
NORTH SHORE CREST
Elementary school
Phyllis R. Miller
Middle school
Horace Mann
High school
Miami Edison
Special listing conditions
Probate Listing
Standard status
Active
APN
0132060280840
Size
1,584 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NO SHORE CREST PB 17-42 LOT 4 BLK 5 LOT SIZE 7000 SQUARE FEET OR 16999-2697 1095 1 COC 24807-0472 07 2006 5
Tax Annual Amount
9494
Legal Description
NO SHORE CREST PB 17-42 LOT 4 BLK 5 LOT SIZE 7000 SQUARE FEET OR 16999-2697 1095 1 COC 24807-0472 07 2006 5
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1947
Floors in Building
1
Number of units
2
Flooring type
Tile, Tile - Ceramic
Building materials
Stucco
Roof type
Shingle
Listing Agency:
EA Realty & Investments
(561) 336-0340
Listed By:
Sherlyne Monsanto · License #3626328
(404) 997-9162
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 23 at 6:06PM
MLS# B26066503
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 1,584-square-foot duplex, built in 1947, contains two side-by-side residences, each arranged with two bedrooms and one bathroom. The property features tile flooring, stucco construction, shingle roofing, central air conditioning, electric heating, and a fenced exterior. One unit is currently tenant-occupied.
The property is located in Miami-Dade County near Biscayne Boulevard, with dining, shopping, and major transportation connections described as nearby. Public water and public sewer serve the property, and tenant parking is available on site.
The property is located in Miami-Dade County near Biscayne Boulevard, with dining, shopping, and major transportation connections described as nearby. Public water and public sewer serve the property, and tenant parking is available on site.
Key Highlights
- Two side‑by‑side 2‑bedroom, 1‑bathroom units
- 1,584 square feet of building area
- One unit is currently tenant‑occupied
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
$31,768
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
3.74%
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%
$635,360
$635.4K
Cap Rate 7%
$453,829
$453.8K
Cap Rate 9%
$352,978
$353.0K
Market Conditions
NOI Build-Up for 1,584 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
$48.5K $30.60/SF
− Vacancy
−$3.1K −$1.95/SF
EGI
$45.4K $28.65/SF
− OpEx
−$13.6K −$8.60/SF
NOI
$31.8K $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%
$635,360
Cap Rate 7%
$453,829
Cap Rate 9%
$352,978
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,768 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$418.0K
$365.8K – $487.7K
NOI $29,262 @ 7.0% cap · market cap 3.44%
Theoretical Best
Specialty Retail
$1.07M
$935.6K – $1.25M
NOI $74,845 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,224
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 - Two separately configured residences with tenant occupancy in one unit and shared outdoor space.
Where is this duplex located?
The property is located at 670 NE 87th Street Miami, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two side‑by‑side 2‑bedroom, 1‑bathroom units; 1,584 square feet of building area; One unit is currently tenant‑occupied
