Two-Unit Block
For Sale
$460,000
765 NW 12th St, Homestead, FL 33030
Residential Income, Homestead, FL
Property Size1,500 SF
Lot Size0.27 Acres
Price / SF$306.67
Days on Market10
Property Features for 765 NW 12th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Parking
4
Subdivision
NEWPORT
Lot features
< 1/4 Acre
Standard status
Active
APN
10-78-12-000-0344
Size
1,500 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
12 57 38 W83FT OF E561FT LESS S25FT OF E1/2 OF S1/2 OF N1/2 OF S1/2 OF NE 1/4 OF SW1/4 LOT SIZE 83.000 X 141 OR 16113-0605-06 0993 5
Tax Annual Amount
8672
Legal Description
12 57 38 W83FT OF E561FT LESS S25FT OF E1/2 OF S1/2 OF N1/2 OF S1/2 OF NE 1/4 OF SW1/4 LOT SIZE 83.000 X 141 OR 16113-0605-06 0993 5
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1957
Floors in Building
1
Flooring type
Terrazzo
Building materials
Block
Roof type
Shingle
Listing Agency:
South Dade Realty Inc · ERA Real Estate
(305) 235-3131
Listed By:
George Cadman IV · License #0494638
(305) 322-3471
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 20 at 2:06PM
MLS# A12087403
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 duplex contains two separate residences, each configured with two bedrooms and one bathroom. The property totals 1,500 square feet on an 11,700-square-foot lot, with block construction, terrazzo flooring, shingle roofing, and wall or window unit cooling. Public water and septic service are in place, and cable is available.
The property includes Units 765 and 769 NW 12th Street in Homestead, within Miami-Dade County. Both units have established tenants, and each has passed a 4-point inspection and is fully insured. The shingle roof was replaced in October 2018. Built in 1957, the duplex presents an existing residential income configuration with two separately occupied units.
The property includes Units 765 and 769 NW 12th Street in Homestead, within Miami-Dade County. Both units have established tenants, and each has passed a 4-point inspection and is fully insured. The shingle roof was replaced in October 2018. Built in 1957, the duplex presents an existing residential income configuration with two separately occupied units.
Key Highlights
- Two 2‑bedroom, 1‑bath units totaling 1,500 square feet
- 11,700‑square‑foot lot
- Block construction with terrazzo flooring
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
$25,005
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
5.44%
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%
$500,100
$500.1K
Cap Rate 7%
$357,214
$357.2K
Cap Rate 9%
$277,833
$277.8K
Market Conditions
NOI Build-Up for 1,500 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
$37.8K $25.20/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$35.7K $23.81/SF
− OpEx
−$10.7K −$7.14/SF
NOI
$25.0K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$500,100
Cap Rate 7%
$357,214
Cap Rate 9%
$277,833
Alternative Uses
Best Use
Multifamily LT 5
$357.2K
$312.6K – $416.8K
NOI $25,005 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$329.6K
$288.4K – $384.5K
NOI $23,069 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$761.0K
$665.9K – $887.9K
NOI $53,271 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 33030, FL
36,776
Population
11,217
Households
3.3
Avg Household Size
33
Median Age
15%
College-Educated
61%
High-School Grad
17.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$43,231
Median Household Income
$28,214
Median Earnings
$1,307
Median Rent
$382,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms and one bathroom, with established tenants in place.
Where is this duplex located?
The property is located at 765 NW 12th St Homestead, FL.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units totaling 1,500 square feet; 11,700‑square‑foot lot; Block construction with terrazzo flooring
