Duplex with Separate
For Sale
$1,325,000
9435-9437 Southwest 39th Street, Miami, FL 33165
Two freestanding residences offer distinct fenced outdoor areas and no HOA restrictions.
Property Size2,650 SF
Price / SF$500
Days on Market218
Property Features for 9435-9437 Southwest 39th Street
General Information
Standard status
Active
Size
2,650 SF
Property subtype
Multi-Family Income / Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,867
Amenities
fenced yards
patio
Building Details
Year Built
1954
Buildings
2
Listing Agency:
Coldwell Banker Residential Real Estate
(305) 490-3730
Listed By:
Sharda Kunath · License #0670268
(305) 490-3730
Source:
Compass
Added: Jan 26
Changed: Aug 30
Last Checked: Aug 31 at 10:01PM
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 Coldwell Banker Residential Real Estate
Investment Insights
Based on property information with market context.
This duplex consists of two freestanding single-family residences, each with its own fenced yard and separate outdoor space. The front home includes 1,243 square feet, three bedrooms, two bathrooms, polished terrazzo floors, granite kitchen countertops, stainless steel appliances, impact windows, a large living room, and a primary suite with a walk-in closet adjoining the bathroom. The rear residence contains 1,407 square feet, a remodeled kitchen, one remodeled bathroom, terrazzo flooring, a patio, and a fenced backyard.
The property was built in 1954 and carries no HOA. Its Miami location places it near Bird Road, Tropical Park, and surrounding shopping centers. The separate structures and private yards provide clear physical separation between the residences.
The property was built in 1954 and carries no HOA. Its Miami location places it near Bird Road, Tropical Park, and surrounding shopping centers. The separate structures and private yards provide clear physical separation between the residences.
Key Highlights
- Two freestanding single‑family homes configured as a duplex
- Front residence: 1,243 square feet with 3 bedrooms and 2 bathrooms
- Rear residence: 1,407 square feet with a remodeled kitchen and 1 bathroom
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
$53,147
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
4.01%
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%
$1,062,940
$1.1M
Cap Rate 7%
$759,243
$759.2K
Cap Rate 9%
$590,522
$590.5K
Market Conditions
NOI Build-Up for 2,650 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
$81.1K $30.60/SF
− Vacancy
−$5.2K −$1.95/SF
EGI
$75.9K $28.65/SF
− OpEx
−$22.8K −$8.60/SF
NOI
$53.1K $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%
$1,062,940
Cap Rate 7%
$759,243
Cap Rate 9%
$590,522
Alternative Uses
Best Use
Multifamily LT 5
$759.2K
$664.3K – $885.8K
NOI $53,147 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$699.4K
$611.9K – $815.9K
NOI $48,955 @ 7.0% cap · market cap 3.69%
Theoretical Best
Specialty Retail
$1.79M
$1.57M – $2.09M
NOI $125,214 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,117
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two freestanding residences offer distinct fenced outdoor areas and no HOA restrictions.
Where is this duplex located?
The property is located at 9435-9437 Southwest 39th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Two freestanding single‑family homes configured as a duplex; Front residence: 1,243 square feet with 3 bedrooms and 2 bathrooms; Rear residence: 1,407 square feet with a remodeled kitchen and 1 bathroom
