Remodeled Two-Unit
For Sale
$599,000
836 NW 98th Street, Miami, FL 33150
Two remodeled units offer a consistent two-bedroom, one-bath layout within this Miami multifamily property.
Property Size1,706 SF
Price / SF$404.18
Days on Market13
Property Features for 836 NW 98th Street
General Information
Standard status
Active
Size
1,706 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
5100
Net Operating Income
$41,000
Taxes and HOA fees
Annual Taxes
$6,731
Building Details
Building Size
1,706 SF
Year Built
1967
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
NB Elite Realty
(786) 294-8697
Listed By:
Jorge F Zubizarreta · License #0635656
(786) 294-8697
Source:
Laerrealty
Added: Aug 1
Changed: Aug 12
Last Checked: Aug 12 at 3:33AM
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 NB Elite Realty
Investment Insights
Based on property information with market context.
This duplex contains 1,482 square feet and was built in 1967. Its two units each include 2 bedrooms and 1 bathroom, providing a matching layout across the property. The units have been remodeled, and one is identified as participating in Section 8, while the other is occupied by a tenant.
The property is located at 836 NW 98th Street in Miami, Florida 33150, and carries zoning designation 5100. The asset is presented as one duplex within a broader multifamily offering that also references two additional duplex properties.
The property is located at 836 NW 98th Street in Miami, Florida 33150, and carries zoning designation 5100. The asset is presented as one duplex within a broader multifamily offering that also references two additional duplex properties.
Key Highlights
- 1,482‑square‑foot duplex with two units
- Each unit includes 2 bedrooms and 1 bathroom
- Remodeled multifamily property
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
$29,722
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
4.96%
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%
$594,440
$594.4K
Cap Rate 7%
$424,600
$424.6K
Cap Rate 9%
$330,244
$330.2K
Market Conditions
NOI Build-Up for 1,482 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
$45.3K $30.60/SF
− Vacancy
−$2.9K −$1.95/SF
EGI
$42.5K $28.65/SF
− OpEx
−$12.7K −$8.60/SF
NOI
$29.7K $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 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%
$594,440
Cap Rate 7%
$424,600
Cap Rate 9%
$330,244
Alternative Uses
Best Use
Multifamily LT 5
$424.6K
$371.5K – $495.4K
NOI $29,722 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$391.1K
$342.2K – $456.3K
NOI $27,378 @ 7.0% cap · market cap 4.57%
Theoretical Best
Specialty Retail
$1.00M
$875.3K – $1.17M
NOI $70,025 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
931
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 - Two remodeled units offer a consistent two-bedroom, one-bath layout within this Miami multifamily property.
Where is this duplex located?
The property is located at 836 NW 98th Street Miami, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1,482‑square‑foot duplex with two units; Each unit includes 2 bedrooms and 1 bathroom; Remodeled multifamily property
