Duplex Income
For Sale
$675,000
7641 NW 2nd Court, Miami, FL 33150
Income-producing duplex offers a practical live-in and rental setup near major roads and shopping centers.
Property Size2,064 SF
Days on Market139
Property Features for 7641 NW 2nd Court
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$9,210
Building Details
Building Size
2,064 SF
Year Built
1972
Listing Agency:
Extraordinary Realty Group, LLC.
Listed By:
Shanice Hanks · License #3558741
(305) 788-1508
Source:
Silverleafrealtygroup
Added: Apr 24
Changed: Sep 8
Last Checked: Aug 22 at 12:44PM
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 Extraordinary Realty Group, LLC.
Investment Insights
Based on property information with market context.
This income-producing duplex is configured as a two-unit residential property, offering an owner the ability to occupy one unit while renting the other. The asset includes two separate units designed for rental income and owner use.
Located at 7641 NW 2nd Ct in Miami, FL 33150, the property is described as centrally located near major roads, shopping centers, and local amenities.
As a residential income property, this duplex is positioned for buyers seeking a straightforward two-unit layout with on-site rental opportunity.
Located at 7641 NW 2nd Ct in Miami, FL 33150, the property is described as centrally located near major roads, shopping centers, and local amenities.
As a residential income property, this duplex is positioned for buyers seeking a straightforward two-unit layout with on-site rental opportunity.
Key Highlights
- Duplex built in 1972
- Income‑producing setup designed for buyers to live in one unit and rent the other
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
$41,395
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
6.13%
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%
$827,900
$827.9K
Cap Rate 7%
$591,357
$591.4K
Cap Rate 9%
$459,944
$459.9K
Market Conditions
NOI Build-Up for 2,064 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
$63.2K $30.60/SF
− Vacancy
−$4.0K −$1.95/SF
EGI
$59.1K $28.65/SF
− OpEx
−$17.7K −$8.60/SF
NOI
$41.4K $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%
$827,900
Cap Rate 7%
$591,357
Cap Rate 9%
$459,944
Alternative Uses
Best Use
Multifamily LT 5
$591.4K
$517.4K – $689.9K
NOI $41,395 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$544.7K
$476.6K – $635.5K
NOI $38,129 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$1.39M
$1.22M – $1.63M
NOI $97,525 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,159
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
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex offers a practical live-in and rental setup near major roads and shopping centers.
Where is this duplex located?
The property is located at 7641 NW 2nd Court Miami, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Duplex built in 1972; Income‑producing setup designed for buyers to live in one unit and rent the other
