Corner-Lot Duplex with Tile
For Sale
$749,000
990 W 56th Street, Hialeah, FL 33012
Features two driveways, a large patio, and an additional room with private exterior access.
Property Size1,787 SF
Days on Market12
Property Features for 990 W 56th Street
General Information
Standard status
Active
Size
1,787 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,314
Amenities
patio
Building Details
Building Size
1,787 SF
Year Built
1958
Listing Agency:
Florida Realty of Miami Corp
(786) 663-7609
Listed By:
Claudia Wong · License #3148127
(786) 663-7609
Source:
Silverleafrealtygroup
Added: Aug 7
Changed: Aug 18
Last Checked: Aug 18 at 7:57AM
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 Florida Realty of Miami Corp
Investment Insights
Based on property information with market context.
Built in 1958, this duplex occupies a corner lot and includes generous living areas, a newer tile roof, and a front driveway supplemented by separate side access. An additional room with an independent exterior entrance adds flexibility to the layout, while the large patio provides outdoor space.
The property is located at 990 W 56th Street in Hialeah, directly across from Palm Springs Middle School. Shopping, dining, major roadways, and everyday services are nearby, supporting convenient access to daily necessities and surrounding destinations.
The property is located at 990 W 56th Street in Hialeah, directly across from Palm Springs Middle School. Shopping, dining, major roadways, and everyday services are nearby, supporting convenient access to daily necessities and surrounding destinations.
Key Highlights
- Corner‑lot duplex built in 1958
- Newer tile roof
- Front driveway plus an additional side driveway
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
$25,687
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
3.43%
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%
$513,740
$513.7K
Cap Rate 7%
$366,957
$367.0K
Cap Rate 9%
$285,411
$285.4K
Market Conditions
NOI Build-Up for 1,787 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
$39.7K $22.20/SF
− Vacancy
−$3.0K −$1.67/SF
EGI
$36.7K $20.54/SF
− OpEx
−$11.0K −$6.16/SF
NOI
$25.7K $14.37/SF
Area
Hialeah, FL
Vacancy
7.50%
Lease Rate
$22.20 /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%
$513,740
Cap Rate 7%
$366,957
Cap Rate 9%
$285,411
Alternative Uses
Best Use
Multifamily LT 5
$367.0K
$321.1K – $428.1K
NOI $25,687 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$341.9K
$299.1K – $398.8K
NOI $23,930 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$703.4K
$615.4K – $820.6K
NOI $49,235 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,774
Businesses Nearby
Explore this area
Business Placement
Demographics for 33012, FL
70,260
Population
25,923
Households
2.7
Avg Household Size
48
Median Age
18%
College-Educated
72%
High-School Grad
5.9 sq mi
ZIP Area
11,908
Density / Sq Mi
$45,818
Median Household Income
$32,039
Median Earnings
$1,562
Median Rent
$355,600
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 - Features two driveways, a large patio, and an additional room with private exterior access.
Where is this duplex located?
The property is located at 990 W 56th Street Hialeah, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Corner‑lot duplex built in 1958; Newer tile roof; Front driveway plus an additional side driveway
