2-Unit Duplex
New
For Sale
$700,000
941 NW 102nd St, Miami, FL 33150
Residential Income, Miami, FL
Property Size2,212 SF
Price / SF$316.46
Days on Market5
Property Features for 941 NW 102nd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Parking
4
Subdivision
WEST BISCAYNE
Lot features
< 1/4 Acre
Standard status
Active
APN
30-31-02-012-0293
Size
2,212 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
WEST BISCAYNE PB 7-58 LOT 15 BLK 2 LOT SIZE 50.000 X 150 OR 17051-3808 1295 1 COC 25587-2664 03 2007 5
Tax Annual Amount
10245
Legal Description
WEST BISCAYNE PB 7-58 LOT 15 BLK 2 LOT SIZE 50.000 X 150 OR 17051-3808 1295 1 COC 25587-2664 03 2007 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace, Central
Cooling system
Central Air
Building Details
Year built
1969
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
The Pearl Realty Group
(844) 484-3774
Listed By:
William Jones · License #3272080
(954) 494-4139
Added: Sep 21
Last Checked: Sep 25 at 5:06AM
MLS# A12084370
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Miami duplex contains 2,212 square feet arranged as two residential units within a 1969 block-built structure. The property features tile flooring, central air conditioning, a wall furnace, shingle roofing, cable availability, and public sewer. A separate area outside the primary two-unit layout may offer the possibility of an efficiency conversion, subject to buyer verification of zoning and permitting requirements.
The property is located at 941 NW 102nd St in Miami’s Pinewood/West Little River corridor, near Miami Shores and with access to I-95. The surrounding context includes shopping, supermarkets, parks, and public transit, while Wynwood, the Design District, and Downtown Miami are also identified as nearby destinations. The property is zoned for Van E. Blanton Elementary, Madison Middle, and Miami Central Senior High.
The property is located at 941 NW 102nd St in Miami’s Pinewood/West Little River corridor, near Miami Shores and with access to I-95. The surrounding context includes shopping, supermarkets, parks, and public transit, while Wynwood, the Design District, and Downtown Miami are also identified as nearby destinations. The property is zoned for Van E. Blanton Elementary, Madison Middle, and Miami Central Senior High.
Key Highlights
- 2,212‑square‑foot duplex with two residential units
- Built in 1969 with block construction and shingle roofing
- Separate area may allow efficiency conversion; buyer to verify zoning and permitting
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
$44,363
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
6.34%
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%
$887,260
$887.3K
Cap Rate 7%
$633,757
$633.8K
Cap Rate 9%
$492,922
$492.9K
Market Conditions
NOI Build-Up for 2,212 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
$67.7K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$63.4K $28.65/SF
− OpEx
−$19.0K −$8.60/SF
NOI
$44.4K $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 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%
$887,260
Cap Rate 7%
$633,757
Cap Rate 9%
$492,922
Alternative Uses
Best Use
Multifamily LT 5
$633.8K
$554.5K – $739.4K
NOI $44,363 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$583.8K
$510.8K – $681.1K
NOI $40,863 @ 7.0% cap · market cap 5.84%
Theoretical Best
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,518 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
805
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Block construction, tile flooring, central air, and public sewer serve the existing residential configuration.
Where is this duplex located?
The property is located at 941 NW 102nd St Miami, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2,212‑square‑foot duplex with two residential units; Built in 1969 with block construction and shingle roofing; Separate area may allow efficiency conversion; buyer to verify zoning and permitting
