Updated Duplex With Impact
For Sale
$560,000
941 NW 99th Street, Miami, FL 33150
Two-unit property featuring updated interiors, impact windows and doors, a newer roof, and tenant-paid utilities and landscaping.
Property Size1,473 SF
Days on Market9
Property Features for 941 NW 99th Street
General Information
Standard status
Active
Size
1,473 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,313
Building Details
Building Size
1,473 SF
Year Built
1949
Listing Agency:
NB Elite Realty
(786) 294-8697
Listed By:
Jorge F Zubizarreta · License #0635656
(786) 294-8697
Source:
Silverleafrealtygroup
Added: Aug 5
Changed: Aug 13
Last Checked: Aug 13 at 6:50AM
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.
Built in 1949, this duplex contains two updated residential units with distinct layouts. One unit offers two bedrooms, one bathroom, and a den; the other includes one bedroom and one bathroom. Both residences have impact-rated windows and doors, and the roof was replaced 3 years ago.
Tenants are responsible for utilities and landscaping, providing a defined operating arrangement for the property. The combination of updated units, recent roof work, and impact protection creates a straightforward two-unit configuration for an owner seeking residential income property.
Tenants are responsible for utilities and landscaping, providing a defined operating arrangement for the property. The combination of updated units, recent roof work, and impact protection creates a straightforward two-unit configuration for an owner seeking residential income property.
Key Highlights
- Two‑unit duplex with one 2‑bedroom, 1‑bath unit plus den and one 1‑bedroom, 1‑bath unit
- Both units have been updated
- Impact windows and doors in both units
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
$29,542
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
5.28%
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%
$590,840
$590.8K
Cap Rate 7%
$422,029
$422.0K
Cap Rate 9%
$328,244
$328.2K
Market Conditions
NOI Build-Up for 1,473 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
$45.1K $30.60/SF
− Vacancy
−$2.9K −$1.95/SF
EGI
$42.2K $28.65/SF
− OpEx
−$12.7K −$8.60/SF
NOI
$29.5K $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%
$590,840
Cap Rate 7%
$422,029
Cap Rate 9%
$328,244
Alternative Uses
Best Use
Multifamily LT 5
$422.0K
$369.3K – $492.4K
NOI $29,542 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$388.7K
$340.1K – $453.5K
NOI $27,211 @ 7.0% cap · market cap 4.86%
Theoretical Best
Specialty Retail
$994.3K
$870.0K – $1.16M
NOI $69,600 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
965
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-unit property featuring updated interiors, impact windows and doors, a newer roof, and tenant-paid utilities and landscaping.
Where is this duplex located?
The property is located at 941 NW 99th Street Miami, FL.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Two‑unit duplex with one 2‑bedroom, 1‑bath unit plus den and one 1‑bedroom, 1‑bath unit; Both units have been updated; Impact windows and doors in both units
