Remodeled Duplex with Separate
New
For Sale
$624,999
831 NW 24th Ave, Miami, FL 33125
Two updated residences each have dedicated laundry areas, utility meters, patios, and parking.
Property Size1,280 SF
Price / SF$488.28
Days on Market7
Property Features for 831 NW 24th Ave
General Information
Standard status
Active
Size
1,280 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Gross Income
$54,000
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,970
Amenities
patios
laundry
Building Details
Building Size
1,280 SF
Year Built
1956
Buildings
1
Listing Agency:
NSE Realty, LLC
Listed By:
Douglas Montas · License #3048337
Source:
Batrare
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 12 at 11:49PM
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 NSE Realty, LLC
Investment Insights
Based on property information with market context.
This duplex contains two remodeled residences with updated finishes and fixtures. Each unit has its own patio and laundry area, while separate electric and water meters serve the units. On-site parking is provided for both residences. The property was built in 1956.
Located at 831 NW 24th Ave in Miami, the property offers access to major highways, shopping, dining, and entertainment. The address is also described as having access to nearby neighborhoods.
Located at 831 NW 24th Ave in Miami, the property offers access to major highways, shopping, dining, and entertainment. The address is also described as having access to nearby neighborhoods.
Key Highlights
- Two remodeled units with updated finishes and fixtures
- Separate patio and laundry area for each unit
- Two electric meters and two water meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,671
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,420
$513.4K
Cap Rate 7%
$366,729
$366.7K
Cap Rate 9%
$285,233
$285.2K
Market Conditions
NOI Build-Up for 1,280 SF
Gross rent
$39.2K $30.60/SF
− Vacancy
−$2.5K −$1.95/SF
EGI
$36.7K $28.65/SF
− OpEx
−$11.0K −$8.60/SF
NOI
$25.7K $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%
$513,420
Cap Rate 7%
$366,729
Cap Rate 9%
$285,233
Alternative Uses
Best Use
Multifamily LT 5
$366.7K
$320.9K – $427.9K
NOI $25,671 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$337.8K
$295.6K – $394.1K
NOI $23,646 @ 7.0% cap · market cap 3.78%
Theoretical Best
Specialty Retail
$864.0K
$756.0K – $1.01M
NOI $60,481 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,407
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences each have dedicated laundry areas, utility meters, patios, and parking.
Where is this duplex located?
The property is located at 831 NW 24th Ave Miami, FL.
What is the asking price?
The asking price for this property is $624,999.
What are key features of this property?
This property features: Two remodeled units with updated finishes and fixtures; Separate patio and laundry area for each unit; Two electric meters and two water meters
