Duplex with Detached
New
For Sale
$1,265,000
718 NE 87th Street, Miami, FL 33138
Residential Income, Miami, FL
Property Size1,790 SF
Lot Size0.16 Acres
Price / SF$706.70
Days on Market3
Property Features for 718 NE 87th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
4600
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 2
Parking
2
Patio and Porch features
Porch
Exterior features
Fence, Fruit Trees, Porch
Fencing
Fenced
Subdivision
NO SHORE CREST
Lot features
Flood Zone, 1/4 to 1/2 Acre Lot
Standard status
Active
APN
01-32-06-028-1111
Size
1,790 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NO SHORE CREST PB 17-42 LOT 43 BLK 5 LOT SIZE 7000 SQUARE FEET OR 20218-4405 12 2001 1
Tax Annual Amount
13188
Legal Description
NO SHORE CREST PB 17-42 LOT 43 BLK 5 LOT SIZE 7000 SQUARE FEET OR 20218-4405 12 2001 1
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1937
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Best of Luxury Realty Corp.
(305) 407-1657
Listed By:
Iuliia Zohar · License #3313358
(305) 684-4964
Added: Oct 10
Changed: Oct 12
Last Checked: Oct 12 at 8:06PM
MLS# A12104485
Copyright © 2026 Miami REALTORS®. 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 1,790-square-foot duplex sits on a 7,000 SF lot and comprises two separate residences. The main home has two bedrooms and one bathroom, a remodeled interior, a stainless steel appliance kitchen, and impact-resistant windows. A detached cottage provides one bedroom and one bathroom, along with a separate kitchen and living area, an office or den, a walk-in closet, and a laundry room.
The block property was built in 1937 and has tile flooring, central air, a porch, fencing, and fruit trees. Public water and sewer serve the property.
The block property was built in 1937 and has tile flooring, central air, a porch, fencing, and fruit trees. Public water and sewer serve the property.
Key Highlights
- Two separate residences on a 7,000 SF lot
- 1,790 square feet of building area
- Main residence offers 2 bedrooms, 1 bathroom, remodeled interior, stainless steel appliances, and impact‑resistant windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,899
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$717,980
$718.0K
Cap Rate 7%
$512,843
$512.8K
Cap Rate 9%
$398,878
$398.9K
Market Conditions
NOI Build-Up for 1,790 SF
Gross rent
$54.8K $30.60/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$51.3K $28.65/SF
− OpEx
−$15.4K −$8.60/SF
NOI
$35.9K $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 Rate 5%
$717,980
Cap Rate 7%
$512,843
Cap Rate 9%
$398,878
Alternative Uses
Best Use
Multifamily LT 5
$512.8K
$448.7K – $598.3K
NOI $35,899 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$472.4K
$413.3K – $551.1K
NOI $33,067 @ 7.0% cap · market cap 2.61%
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,578 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,625
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences include a remodeled main home and a cottage with its own kitchen and living area.
Where is this duplex located?
The property is located at 718 NE 87th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,265,000.
What are key features of this property?
This property features: Two separate residences on a 7,000 SF lot; 1,790 square feet of building area; Main residence offers 2 bedrooms, 1 bathroom, remodeled interior, stainless steel appliances, and impact‑resistant windows
