Duplex with Detached
718 NE 87th Street, Miami, FL 33138
For Sale
New
$1,275,000
Residential Income, Miami, FL
Property Size1,790 SF
Lot Size0.16 Acres
Price / SF$712.29
Days on Market2
Property Features for 718 NE 87th Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Full bathrooms
Half bathrooms
Rooms
Parking
Patio and Porch features
Exterior features
Fencing
Subdivision
Lot features
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Cooling system
Water source
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Best of Luxury Realty Corp.
(305) 407-1657
Listed By:
Iuliia Zohar · License FL #3313358
(305) 684-4964
Added: Nov 12
Last Checked: Nov 13 at 1:06AM
MLS# A12122756
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.
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Investment Insights
Based on property information with market context.
At 718 NE 87th Street in Miami, this 1937 property has 1,790 square feet of living area on a 7,000-square-foot lot. The main residence offers two bedrooms and one bath, with a remodeled interior, stainless steel kitchen appliances, and impact-resistant windows. A detached cottage adds one bedroom and one bath, a separate kitchen and living area, an office or den, a walk-in closet, and laundry room. Block construction, tile flooring, central air, and a porch are among the property’s features.
The two residences provide distinct living spaces at one Miami address. Public water and sewer serve the property, and cable is available.
The two residences provide distinct living spaces at one Miami address. Public water and sewer serve the property, and cable is available.
Key Highlights
- Two residences: a 2‑bedroom, 1‑bath main home and detached 1‑bedroom, 1‑bath cottage
- 1,790 square feet of living area on a 7,000‑square‑foot lot
- Main residence has a remodeled interior, stainless steel appliances, and impact‑resistant windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,899
Cap Rate
2.82%
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 2.82%
Second Best
Apartment 5plus
$472.4K
$413.3K – $551.1K
NOI $33,067 @ 7.0% cap · market cap 2.59%
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,578 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,625
Businesses Nearby
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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
$686,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Miami, FL
Properties on Market for Duplexes in Miami
Vacancy Rate% for Multifamily in South region
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 $1,275,000.
What are key features of this property?
This property features: Two residences: a 2‑bedroom, 1‑bath main home and detached 1‑bedroom, 1‑bath cottage; 1,790 square feet of living area on a 7,000‑square‑foot lot; Main residence has a remodeled interior, stainless steel appliances, and impact‑resistant windows
