Two-Unit Duplex with Private
For Sale
$449,000
8201 Northwest 15th Avenue, Miami, FL 33147
Two separate units each have private entrances, fenced outdoor space, and dedicated parking.
Property Size1,200 SF
Lot Size0.17 Acres
Price / SF$374.17
Days on Market241
Property Features for 8201 Northwest 15th Avenue
General Information
Standard status
Active
Size
1,200 SF
Lot size
0.17 Acres
Property subtype
Multi-Family Income / Duplex
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,899
Building Details
Year Built
1952
Tenancy
Multi
Listing Agency:
Lexico Realty Inc
(954) 328-6498
Listed By:
Alejandro Patino · License #3264284
(954) 328-6498
Source:
Compass
Added: Dec 25, 2025
Changed: Aug 23
Last Checked: Jul 23 at 4:16PM
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 Lexico Realty Inc
Investment Insights
Based on property information with market context.
This property is a 2-unit duplex featuring two separate residences with their own private entrances. Unit 8201 is configured as a 2-bedroom, 1-bath layout with an open floor plan, laundry room, and a kitchen with custom cabinetry. Unit 8205 offers a 1-bedroom, 1-bath configuration with its own entrance and private parking. The duplex includes two separate yards and two electric meters.
A large paved parking area supports vehicles for the property, with capacity described as over 15 cars or trucks. The lot size is listed as 7,231.68 square feet, and the listing notes the property is not in a flood zone.
The duplex is presented as a residential income property for sale with modern energy-efficient systems and updated interior features across both units.
A large paved parking area supports vehicles for the property, with capacity described as over 15 cars or trucks. The lot size is listed as 7,231.68 square feet, and the listing notes the property is not in a flood zone.
The duplex is presented as a residential income property for sale with modern energy-efficient systems and updated interior features across both units.
Key Highlights
- 2‑unit duplex built in 1952 with 2 electric meters and 2 separate yards
- Unit 8201 has 2 bedrooms, 1 bathroom, plus a laundry room and updated kitchen with custom cabinetry
- Unit 8205 has 1 bedroom, 1 bathroom, with its own entrance and private parking
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
$24,067
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
5.36%
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%
$481,340
$481.3K
Cap Rate 7%
$343,814
$343.8K
Cap Rate 9%
$267,411
$267.4K
Market Conditions
NOI Build-Up for 1,200 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
$36.7K $30.60/SF
− Vacancy
−$2.3K −$1.95/SF
EGI
$34.4K $28.65/SF
− OpEx
−$10.3K −$8.60/SF
NOI
$24.1K $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%
$481,340
Cap Rate 7%
$343,814
Cap Rate 9%
$267,411
Alternative Uses
Best Use
Multifamily LT 5
$343.8K
$300.8K – $401.1K
NOI $24,067 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$316.7K
$277.1K – $369.5K
NOI $22,168 @ 7.0% cap · market cap 4.94%
Theoretical Best
Specialty Retail
$810.0K
$708.8K – $945.0K
NOI $56,701 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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 - Two separate units each have private entrances, fenced outdoor space, and dedicated parking.
Where is this duplex located?
The property is located at 8201 Northwest 15th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2‑unit duplex built in 1952 with 2 electric meters and 2 separate yards; Unit 8201 has 2 bedrooms, 1 bathroom, plus a laundry room and updated kitchen with custom cabinetry; Unit 8205 has 1 bedroom, 1 bathroom, with its own entrance and private parking
