Updated Duplex with Four-Unit
New
For Sale
$790,000
991 E 20th St, Hialeah, FL 33013
Corner duplex with both units updated and occupied by month-to-month tenants.
Property Size1,586 SF
Days on Market5
Property Features for 991 E 20th St
General Information
Standard status
Active
Size
1,586 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$8,629
Building Details
Building Size
1,586 SF
Year Built
1947
Listing Agency:
Related Services LLC
Listed By:
Edelso Riveron · License #0647321
Source:
Miamibrokersgroup
Added: Sep 22
Changed: Sep 25
Last Checked: Sep 26 at 12:26PM
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 Related Services LLC
Investment Insights
Based on property information with market context.
Built in 1947, this corner duplex at 991 E 20th St in Hialeah, Florida includes two residential units with a combined layout of 4 bedrooms and 2 bathrooms. Both units were updated in 2020, and the property is currently occupied under month-to-month tenancies.
The property has been rezoned to permit up to four units, creating a documented redevelopment option alongside its existing duplex configuration. Showings require advance scheduling, and tenant access should be coordinated rather than conducted independently.
The property has been rezoned to permit up to four units, creating a documented redevelopment option alongside its existing duplex configuration. Showings require advance scheduling, and tenant access should be coordinated rather than conducted independently.
Key Highlights
- Duplex property with 4 bedrooms and 2 bathrooms
- Both units updated in 2020
- Corner location at 991 E 20th St, Hialeah, FL 33013
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
$22,798
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
2.89%
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%
$455,960
$456.0K
Cap Rate 7%
$325,686
$325.7K
Cap Rate 9%
$253,311
$253.3K
Market Conditions
NOI Build-Up for 1,586 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
$35.2K $22.20/SF
− Vacancy
−$2.6K −$1.67/SF
EGI
$32.6K $20.54/SF
− OpEx
−$9.8K −$6.16/SF
NOI
$22.8K $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%
$455,960
Cap Rate 7%
$325,686
Cap Rate 9%
$253,311
Alternative Uses
Best Use
Multifamily LT 5
$325.7K
$285.0K – $380.0K
NOI $22,798 @ 7.0% cap · market cap 2.89%
Second Best
Apartment 5plus
$303.4K
$265.5K – $354.0K
NOI $21,238 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$624.2K
$546.2K – $728.3K
NOI $43,697 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,858
Businesses Nearby
Explore this area
Business Placement
Demographics for 33013, FL
31,068
Population
9,544
Households
3.3
Avg Household Size
48
Median Age
18%
College-Educated
72%
High-School Grad
3.8 sq mi
ZIP Area
8,176
Density / Sq Mi
$57,242
Median Household Income
$32,566
Median Earnings
$1,488
Median Rent
$407,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Corner duplex with both units updated and occupied by month-to-month tenants.
Where is this duplex located?
The property is located at 991 E 20th St Hialeah, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Duplex property with 4 bedrooms and 2 bathrooms; Both units updated in 2020; Corner location at 991 E 20th St, Hialeah, FL 33013
