Two-Unit Duplex with Separate
New
For Sale
Contact for pricing
Pending
963 NE 5th Ave, Homestead, FL 33030
One-story concrete-block property with four bedrooms, two bathrooms, and fenced outdoor space.
Property Size2,118 SF
Lot Size0.16 Acres
Days on Market7
Property Features for 963 NE 5th Ave
General Information
Standard status
Pending
Size
2,118 SF
Total Parking Spaces
4
Lot size
0.16 Acres
Property subtype
Multifamily
Zoning
3000
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1984
Buildings
1
Stories
1
Construction
concrete block
Listing Agency:
Lifestyle International Realty
Listed By:
Jose Duran Menendez · License #3515656
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 2:55PM
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 Lifestyle International Realty
Investment Insights
Based on property information with market context.
Built in 1984, this one-story duplex contains two separate units with a combined layout of four bedrooms and two full bathrooms. The concrete-block structure includes tile flooring, central air conditioning, electric heat, and separate utility meters for each unit. Public water and sewer serve the property, while the fenced exterior provides defined outdoor space and parking for multiple vehicles.
The property is located near Downtown Homestead, shopping, restaurants, schools, parks, and major transportation routes. Its existing two-unit configuration supports rental use, multigenerational living, or an owner-occupant arrangement. The 6,850-square-foot lot and established residential improvements provide a practical foundation for future updates, subject to applicable requirements.
The property is located near Downtown Homestead, shopping, restaurants, schools, parks, and major transportation routes. Its existing two-unit configuration supports rental use, multigenerational living, or an owner-occupant arrangement. The 6,850-square-foot lot and established residential improvements provide a practical foundation for future updates, subject to applicable requirements.
Key Highlights
- Two separate residential units with four bedrooms and two full bathrooms
- Built in 1984 with concrete‑block construction
- Separate utility meters 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
$35,307
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
7.68%
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%
$706,140
$706.1K
Cap Rate 7%
$504,386
$504.4K
Cap Rate 9%
$392,300
$392.3K
Market Conditions
NOI Build-Up for 2,118 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
$53.4K $25.20/SF
− Vacancy
−$2.9K −$1.39/SF
EGI
$50.4K $23.81/SF
− OpEx
−$15.1K −$7.14/SF
NOI
$35.3K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$706,140
Cap Rate 7%
$504,386
Cap Rate 9%
$392,300
Alternative Uses
Best Use
Multifamily LT 5
$504.4K
$441.3K – $588.5K
NOI $35,307 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$465.3K
$407.2K – $542.9K
NOI $32,573 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$1.07M
$940.2K – $1.25M
NOI $75,219 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 33030, FL
36,776
Population
11,217
Households
3.3
Avg Household Size
33
Median Age
15%
College-Educated
61%
High-School Grad
17.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$43,231
Median Household Income
$28,214
Median Earnings
$1,307
Median Rent
$382,200
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 - One-story concrete-block property with four bedrooms, two bathrooms, and fenced outdoor space.
Where is this duplex located?
The property is located at 963 NE 5th Ave Homestead, FL.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Two separate residential units with four bedrooms and two full bathrooms; Built in 1984 with concrete‑block construction; Separate utility meters for each unit
