Triplex with Private
For Sale
$815,000
941 SW 31st Court, Miami, FL 33135
Three separately metered units feature independent parking, updated appliances, fenced outdoor areas, and month-to-month occupancy.
Property Size2,202 SF
Days on Market248
Property Features for 941 SW 31st Court
General Information
Standard status
Active
Size
2,202 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$11,682
Building Details
Building Size
2,202 SF
Year Built
1950
Listing Agency:
United Realty Group Inc
Listed By:
Ashlie Almodovar-Collado · License #3541249
(786) 799-1379
Source:
Silverleafrealtygroup
Added: Feb 11
Changed: Oct 16
Last Checked: Oct 16 at 4:23PM
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 United Realty Group Inc
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Investment Insights
Based on property information with market context.
This triplex contains 4 bedrooms and 3 full bathrooms across one 2-bedroom, 1-bathroom unit and two 1-bedroom, 1-bathroom units. Each residence has its own parking area, private patio, appliances, electrical meter, and fenced space. The property also includes new air-conditioning ducts throughout, freshly painted interiors and exteriors, and additional yard storage connected to the main house.
The main tile roof was replaced in 2025 with the necessary permits, while the tile roofs were renovated in 2020. The property is currently occupied under month-to-month leases. Located at 941 SW 31st Court in Miami, the triplex is approximately 5 minutes from the freeway on Eighth Street and 15 minutes from downtown Miami.
The main tile roof was replaced in 2025 with the necessary permits, while the tile roofs were renovated in 2020. The property is currently occupied under month-to-month leases. Located at 941 SW 31st Court in Miami, the triplex is approximately 5 minutes from the freeway on Eighth Street and 15 minutes from downtown Miami.
Key Highlights
- Triplex with 4 bedrooms and 3 full bathrooms
- Unit mix includes one 2‑bedroom, 1‑bathroom unit and two 1‑bedroom, 1‑bathroom units
- Main tile roof replaced in 2025 with the necessary permits
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,162
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,240
$883.2K
Cap Rate 7%
$630,886
$630.9K
Cap Rate 9%
$490,689
$490.7K
Market Conditions
NOI Build-Up for 2,202 SF
Gross rent
$67.4K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$63.1K $28.65/SF
− OpEx
−$18.9K −$8.60/SF
NOI
$44.2K $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%
$883,240
Cap Rate 7%
$630,886
Cap Rate 9%
$490,689
Alternative Uses
Best Use
Multifamily LT 5
$630.9K
$552.0K – $736.0K
NOI $44,162 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$581.1K
$508.5K – $678.0K
NOI $40,678 @ 7.0% cap · market cap 4.99%
Theoretical Best
Specialty Retail
$1.49M
$1.30M – $1.73M
NOI $104,045 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,320
Businesses Nearby
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Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered units feature independent parking, updated appliances, fenced outdoor areas, and month-to-month occupancy.
Where is this triplex located?
The property is located at 941 SW 31st Court Miami, FL.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: Triplex with 4 bedrooms and 3 full bathrooms; Unit mix includes one 2‑bedroom, 1‑bathroom unit and two 1‑bedroom, 1‑bathroom units; Main tile roof replaced in 2025 with the necessary permits
