Legal Duplex With Separate
New
For Sale
$499,900
6950 NW 6th Court, Miami, FL 33150
Two permitted residential units with individual carport spaces create a practical multifamily configuration.
Property Size1,570 SF
Price / SF$379.86
Days on Market7
Property Features for 6950 NW 6th Court
General Information
Standard status
Active
Size
1,570 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
5700
Taxes and HOA fees
Annual Taxes
$5,907
Building Details
Building Size
1,570 SF
Year Built
1955
Stories
1
Listing Agency:
Premier Realty & Invest. Group
(305) 300-9653
Listed By:
Ronald Henry · License #0662397
(305) 300-9653
Source:
Laerrealty
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 23 at 2:53AM
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 legal duplex contains two permitted residential units within a 1,316-square-foot property built in 1955. Separate carports serve the units, adding dedicated covered parking to the existing configuration. The property is located at 6950 NW 6th Court in Miami, Florida 33150 and is identified under zoning code 5700. Its two-unit layout and existing income-producing use support continued operation as a small multifamily asset.
Key Highlights
- Two permitted residential units
- Separate carports for the units
- 1,316 square feet of property size
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
$26,393
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
5.28%
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%
$527,860
$527.9K
Cap Rate 7%
$377,043
$377.0K
Cap Rate 9%
$293,256
$293.3K
Market Conditions
NOI Build-Up for 1,316 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
$40.3K $30.60/SF
− Vacancy
−$2.6K −$1.95/SF
EGI
$37.7K $28.65/SF
− OpEx
−$11.3K −$8.60/SF
NOI
$26.4K $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%
$527,860
Cap Rate 7%
$377,043
Cap Rate 9%
$293,256
Alternative Uses
Best Use
Multifamily LT 5
$377.0K
$329.9K – $439.9K
NOI $26,393 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.2K
NOI $24,311 @ 7.0% cap · market cap 4.86%
Theoretical Best
Specialty Retail
$888.3K
$777.3K – $1.04M
NOI $62,182 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,466
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two permitted residential units with individual carport spaces create a practical multifamily configuration.
Where is this duplex located?
The property is located at 6950 NW 6th Court Miami, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two permitted residential units; Separate carports for the units; 1,316 square feet of property size
