Occupied Duplex with Private
New
For Sale
$769,000
935 NW 22nd Court, Miami, FL 33125
Two residential units sit on a quiet street near the airport and major expressways.
Property Size1,758 SF
Days on Market7
Property Features for 935 NW 22nd Court
General Information
Standard status
Active
Size
1,758 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,486
Amenities
private backyard
Building Details
Building Size
1,758 SF
Year Built
1970
Tenancy
Multi
Listing Agency:
Armand & Assoc Realty Inc
(305) 321-1200
Listed By:
Annette Armand Pabon · License #0633106
(305) 321-1200
Source:
Silverleafrealtygroup
Added: Aug 18
Changed: Aug 23
Last Checked: Aug 23 at 7:36AM
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 Armand & Assoc Realty Inc
Investment Insights
Based on property information with market context.
Built in 1970, this duplex contains two residential units, both occupied by long-term tenants. Each unit includes a small private backyard, while the property borders a canal. The configuration supports continued rental use or an owner-occupant arrangement with a separate residential unit.
The property is located on NW 22nd Court in Miami, near the airport, major expressways, schools, and employment centers. Its quiet-street setting and access to these surrounding destinations provide a practical residential context for tenants.
The property is located on NW 22nd Court in Miami, near the airport, major expressways, schools, and employment centers. Its quiet-street setting and access to these surrounding destinations provide a practical residential context for tenants.
Key Highlights
- Duplex with two occupied residential units
- Both units have long‑term tenants
- Small private backyard provided for each 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
$35,258
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
4.58%
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%
$705,160
$705.2K
Cap Rate 7%
$503,686
$503.7K
Cap Rate 9%
$391,756
$391.8K
Market Conditions
NOI Build-Up for 1,758 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
$53.8K $30.60/SF
− Vacancy
−$3.4K −$1.95/SF
EGI
$50.4K $28.65/SF
− OpEx
−$15.1K −$8.60/SF
NOI
$35.3K $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%
$705,160
Cap Rate 7%
$503,686
Cap Rate 9%
$391,756
Alternative Uses
Best Use
Multifamily LT 5
$503.7K
$440.7K – $587.6K
NOI $35,258 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$463.9K
$406.0K – $541.3K
NOI $32,476 @ 7.0% cap · market cap 4.22%
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.38M
NOI $83,066 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,548
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
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 residential units sit on a quiet street near the airport and major expressways.
Where is this duplex located?
The property is located at 935 NW 22nd Court Miami, FL.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Duplex with two occupied residential units; Both units have long‑term tenants; Small private backyard provided for each unit
