Westchester Duplex
For Sale
$724,900
9283 Sw 39th St, Miami, FL 33165
Duplex with two 2-bedroom, 1-bath units and recent electrical upgrades including new panels and electric meters.
Property Size1,335 SF
Price / SF$542
Days on Market151
Property Features for 9283 Sw 39th St
General Information
Standard status
Active
Size
1,335 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,913
Listing Agency:
Genesis Realty Services Inc.
(305) 823-6124
Listed By:
Judith Taveras · License #0697161
(305) 308-2230
Source:
Exprealty
Added: Apr 10
Changed: Sep 5
Last Checked: Sep 7 at 1:48PM
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 Genesis Realty Services Inc.
Investment Insights
Based on property information with market context.
This Westchester duplex features two separate units, each offering two bedrooms and one bathroom. Electrical upgrades have been completed throughout, including new panels and electric meters. Additional improvements include a new metal roof, and plumbing work has been completed for the front unit.
The property is located near transportation and shopping, with access to great schools noted in the listing materials.
For sale as a residential income property, the building is configured as a duplex with mirrored unit layouts and documented exterior and system updates including roof, electrical, and front-unit plumbing.
The property is located near transportation and shopping, with access to great schools noted in the listing materials.
For sale as a residential income property, the building is configured as a duplex with mirrored unit layouts and documented exterior and system updates including roof, electrical, and front-unit plumbing.
Key Highlights
- Westchester duplex built in 1961 with two units, each offering 2 bedrooms and 1 bathroom
- Recent electrical upgrades include new panels and separate electric meters
- New metal roof and plumbing upgrades completed for the front unit
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
$26,774
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
3.69%
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%
$535,480
$535.5K
Cap Rate 7%
$382,486
$382.5K
Cap Rate 9%
$297,489
$297.5K
Market Conditions
NOI Build-Up for 1,335 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
$40.9K $30.60/SF
− Vacancy
−$2.6K −$1.95/SF
EGI
$38.2K $28.65/SF
− OpEx
−$11.5K −$8.60/SF
NOI
$26.8K $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%
$535,480
Cap Rate 7%
$382,486
Cap Rate 9%
$297,489
Alternative Uses
Best Use
Multifamily LT 5
$382.5K
$334.7K – $446.2K
NOI $26,774 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$352.3K
$308.3K – $411.0K
NOI $24,662 @ 7.0% cap · market cap 3.40%
Theoretical Best
Specialty Retail
$901.1K
$788.5K – $1.05M
NOI $63,079 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two 2-bedroom, 1-bath units and recent electrical upgrades including new panels and electric meters.
Where is this duplex located?
The property is located at 9283 Sw 39th St Miami, FL.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Westchester duplex built in 1961 with two units, each offering 2 bedrooms and 1 bathroom; Recent electrical upgrades include new panels and separate electric meters; New metal roof and plumbing upgrades completed for the front unit
