Duplex Requiring
New
For Sale
$264,999
8721 NW 21st Ave, Miami, FL 33147
Frame construction needs work, and the property is offered in its current condition.
Property Size1,066 SF
Lot Size0.23 Acres
Days on Market5
Property Features for 8721 NW 21st Ave
General Information
Standard status
Active
Size
1,066 SF
Lot size
0.23 Acres
Property subtype
Duplex
Zoning
5700
Property Condition
Severity
Repairs Needed
Evidence
in need of repairs
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,655
Building Details
Building Size
1,066 SF
Year Built
1947
Construction
frame
Listing Agency:
Coldwell Banker Realty
Listed By:
Luis Gonzalez LLC · License #3308205
(305) 924-1119
Source:
Marcelosteinmander
Added: Oct 5
Changed: Oct 8
Last Checked: Oct 8 at 2:15AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This frame duplex was built in 1947 and occupies a 10,064-square-foot lot. The structure needs repairs, and the sale is limited to the property in its current condition.
Property records identify Primary Zone 5700, Duplexes - General, and Land Use 0802, Multifamily 2-9 Units, with 2 living units. Financing is limited to cash or hard money/private lending.
Property records identify Primary Zone 5700, Duplexes - General, and Land Use 0802, Multifamily 2-9 Units, with 2 living units. Financing is limited to cash or hard money/private lending.
Key Highlights
- 10,064‑square‑foot lot
- Frame structure needs repairs; conveyed in its current condition
- Built in 1947
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,379
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,580
$427.6K
Cap Rate 7%
$305,414
$305.4K
Cap Rate 9%
$237,544
$237.5K
Market Conditions
NOI Build-Up for 1,066 SF
Gross rent
$32.6K $30.60/SF
− Vacancy
−$2.1K −$1.95/SF
EGI
$30.5K $28.65/SF
− OpEx
−$9.2K −$8.60/SF
NOI
$21.4K $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 Rate 5%
$427,580
Cap Rate 7%
$305,414
Cap Rate 9%
$237,544
Alternative Uses
Best Use
Multifamily LT 5
$305.4K
$267.2K – $356.3K
NOI $21,379 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$281.3K
$246.2K – $328.2K
NOI $19,693 @ 7.0% cap · market cap 7.43%
Theoretical Best
Specialty Retail
$719.6K
$629.6K – $839.5K
NOI $50,369 @ 7.0% cap · market cap 19.01%
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
1,108
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
Check the figures for this property
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 - Frame construction needs work, and the property is offered in its current condition.
Where is this duplex located?
The property is located at 8721 NW 21st Ave Miami, FL.
What is the asking price?
The asking price for this property is $264,999.
What are key features of this property?
This property features: 10,064‑square‑foot lot; Frame structure needs repairs; conveyed in its current condition; Built in 1947
