Duplex with Remodeled Rear
971 79th Ter, Miami Beach, FL 33141
For Sale
$950,000
Two residences each offer a den, with on-site parking and a private yard serving the rear unit.
Property Size1,966 SF
Price / SF$483.21
Days on Market307
Property Features for 971 79th Ter
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
South Pointe Drive Realty Inc
Listed By:
Pedro Saavedra · License FL #3144484
(786) 290-6075
Source:
Debuirerealty
Added: Jan 13
Changed: Nov 10
Last Checked: Nov 14 at 1:38PM
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 South Pointe Drive Realty Inc
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Investment Insights
Based on property information with market context.
Built in 1947, this duplex contains two units, each configured with 2 bedrooms, 1 bathroom, and a den. The property totals 1,966 square feet and includes on-site parking. A private yard belongs to the rear unit, which has also undergone remodeling. Recent building upgrades include a new roof and A/C system.
Key Highlights
- Two units, each with 2 bedrooms, 1 bathroom, and a den
- 1,966 square feet; built in 1947
- Rear residence has been remodeled and includes a private yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,508
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,160
$610.2K
Cap Rate 7%
$435,829
$435.8K
Cap Rate 9%
$338,978
$339.0K
Market Conditions
NOI Build-Up for 1,966 SF
Gross rent
$59.5K $30.24/SF
− Vacancy
−$4.0K −$2.03/SF
EGI
$55.5K $28.21/SF
− OpEx
−$25.0K −$12.70/SF
NOI
$30.5K $15.52/SF
Area
Miami-Dade County, FL
Vacancy
6.70%
Lease Rate
$30.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,160
Cap Rate 7%
$435,829
Cap Rate 9%
$338,978
Alternative Uses
Best Use
Apartment 5plus
$435.8K
$381.4K – $508.5K
NOI $30,508 @ 7.0% cap · market cap 3.21%
Second Best
Multifamily LT 5
$329.7K
$288.5K – $384.7K
NOI $23,082 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$1.07M
$939.4K – $1.25M
NOI $75,151 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,084
Businesses Nearby
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Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Miami-Dade County, FL
Properties on Market for Duplexes in Miami-Dade County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences each offer a den, with on-site parking and a private yard serving the rear unit.
Where is this duplex located?
The property is located at 971 79th Ter Miami Beach, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms, 1 bathroom, and a den; 1,966 square feet; built in 1947; Rear residence has been remodeled and includes a private yard
