2005 Duplex with Separate
For Sale
$649,000
7628 NW 2nd Court, Miami, FL 33150
Two-unit residential income property with central air conditioning and tenant-paid water, electricity, and yard upkeep.
Property Size2,339 SF
Price / SF$293.67
Days on Market21
Property Features for 7628 NW 2nd Court
General Information
Standard status
Active
Size
2,339 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
5700
Additional Details
Gross Income
$53,100
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,613
Amenities
central A/C
Building Details
Building Size
2,339 SF
Year Built
2005
Buildings
1
Stories
1
Listing Agency:
Realty World Executive Homes
(305) 562-4520
Listed By:
Mariano F Soria · License #3275131
(305) 562-4520
Source:
Laerrealty
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 30 at 1:35PM
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 Realty World Executive Homes
Investment Insights
Based on property information with market context.
Built in 2005, this duplex is configured as a two-unit residential income property with separate utility services and central air conditioning. The property is designed for straightforward management, with occupants responsible for water, electricity, and yard maintenance.
Both leases are month-to-month, providing flexibility for future leasing decisions or property improvements. The duplex is located in Miami east of I-95, within an area that includes restaurants, residential neighborhoods, and redevelopment activity.
Both leases are month-to-month, providing flexibility for future leasing decisions or property improvements. The duplex is located in Miami east of I-95, within an area that includes restaurants, residential neighborhoods, and redevelopment activity.
Key Highlights
- Duplex constructed in 2005
- Separate utility services for the units
- Central A/C
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
$44,323
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
6.83%
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%
$886,460
$886.5K
Cap Rate 7%
$633,186
$633.2K
Cap Rate 9%
$492,478
$492.5K
Market Conditions
NOI Build-Up for 2,210 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
$67.6K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$63.3K $28.65/SF
− OpEx
−$19.0K −$8.60/SF
NOI
$44.3K $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%
$886,460
Cap Rate 7%
$633,186
Cap Rate 9%
$492,478
Alternative Uses
Best Use
Multifamily LT 5
$633.2K
$554.0K – $738.7K
NOI $44,323 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$583.2K
$510.3K – $680.4K
NOI $40,826 @ 7.0% cap · market cap 6.29%
Theoretical Best
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,423 @ 7.0% cap · market cap 16.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,766
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-unit residential income property with central air conditioning and tenant-paid water, electricity, and yard upkeep.
Where is this duplex located?
The property is located at 7628 NW 2nd Court Miami, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Duplex constructed in 2005; Separate utility services for the units; Central A/C
