Turnkey Duplex with Central
For Sale
$789,999
Pending
70 Northeast 186th Terrace, Miami, FL 33179
Fully upgraded duplex with central A/C, new roofs, impact windows/doors, and in-unit washer and dryer in each unit.
Property Size2,106 SF
Lot Size0.20 Acres
Days on Market180
Property Features for 70 Northeast 186th Terrace
General Information
Standard status
Pending
Size
2,106 SF
Lot size
0.20 Acres
Property subtype
Multi-Family Income / Duplex
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,002
Building Details
Year Built
1968
Tenancy
Multi
Listing Agency:
Compass Florida, LLC
Listed By:
Blake Burstyn · License #3394026
(305) 788-2629
Source:
Compass
Added: Mar 13
Changed: Aug 7
Last Checked: Jul 24 at 2:10PM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This turnkey duplex investment includes two residential units within a single property, presented with a comprehensive set of recent upgrades aimed at long-term reliability. Improvements referenced include a new roof, hurricane-impact windows and doors, modern kitchens and newly updated baths, tankless water heaters, and central A/C. Each unit also includes its own washer and dryer, with new drains, plus newly installed appliances with warranties. Unit configuration is described as a larger unit with three bedrooms (with the note that it can convert to four) and a laundry room, and a second unit with open-concept living.
The property sits on an 8,800 square-foot lot and is described as having fresh landscaping and privacy fencing. The listing also notes the property is in a no-flood zone. The location is identified as centrally located with convenient access to major destinations, i-95, both airports, and the city.
For a buyer or investor seeking a duplex offered in turnkey condition, this property is presented as easy to show, with the seller described as motivated.
The property sits on an 8,800 square-foot lot and is described as having fresh landscaping and privacy fencing. The listing also notes the property is in a no-flood zone. The location is identified as centrally located with convenient access to major destinations, i-95, both airports, and the city.
For a buyer or investor seeking a duplex offered in turnkey condition, this property is presented as easy to show, with the seller described as motivated.
Key Highlights
- Fully upgraded duplex built in 1968 on an 8,800 sq ft lot
- 2,521 sq ft total with central A/C and tankless water heaters
- New roof and hurricane‑impact windows/doors
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
$42,237
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
5.35%
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%
$844,740
$844.7K
Cap Rate 7%
$603,386
$603.4K
Cap Rate 9%
$469,300
$469.3K
Market Conditions
NOI Build-Up for 2,106 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
$64.4K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$60.3K $28.65/SF
− OpEx
−$18.1K −$8.60/SF
NOI
$42.2K $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%
$844,740
Cap Rate 7%
$603,386
Cap Rate 9%
$469,300
Alternative Uses
Best Use
Multifamily LT 5
$603.4K
$528.0K – $704.0K
NOI $42,237 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$555.8K
$486.3K – $648.4K
NOI $38,905 @ 7.0% cap · market cap 4.92%
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,509 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,438
Businesses Nearby
Explore this area
Business Placement
Demographics for 33179, FL
48,088
Population
21,249
Households
2.3
Avg Household Size
41
Median Age
33%
College-Educated
91%
High-School Grad
5.0 sq mi
ZIP Area
9,618
Density / Sq Mi
$61,526
Median Household Income
$37,555
Median Earnings
$1,736
Median Rent
$281,400
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 - Fully upgraded duplex with central A/C, new roofs, impact windows/doors, and in-unit washer and dryer in each unit.
Where is this duplex located?
The property is located at 70 Northeast 186th Terrace Miami, FL.
What is the asking price?
The asking price for this property is $789,999.
What are key features of this property?
This property features: Fully upgraded duplex built in 1968 on an 8,800 sq ft lot; 2,521 sq ft total with central A/C and tankless water heaters; New roof and hurricane‑impact windows/doors
