Duplex With Two Private
For Sale
$499,000
Pending
1262 - 1264, Miami, FL 33142
Four-bedroom duplex with tile floors, central AC, laundry room, and two private yards, each served by separate utilities.
Property Size1,874 SF
Days on Market153
Property Features for 1262 - 1264
General Information
Standard status
Pending
Size
1,874 SF
Property subtype
Multi-Family
Zoning
T3-0
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Amenities
Laundry Room
Private Yards
Private Storage Areas
3
Building Details
Year Built
1959
Listing Agency:
Lexico Realty Inc
(954) 328-6498
Listed By:
Alejandro Patino · License #A12023395
(954) 328-6498
Source:
Xome
Added: Mar 14
Changed: Aug 12
Last Checked: Aug 11 at 4:46AM
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 Lexico Realty Inc
Investment Insights
Based on property information with market context.
This 4-bedroom, 2-bath duplex is set up as two separate residences. Each unit offers tiled flooring and a modern kitchen, and the property includes central A/C plus a laundry room. Both units have separate electric and water meters, with water heaters in each unit, and there are two private storage areas (one per residence). Outdoor space is divided into two private yards, enclosed with an aluminum modular fence.
Unit 1262 is configured with 2 bedrooms and 1 bathroom. Unit 1264 also has 2 bedrooms and 1 bathroom, with a private entrance and dedicated parking.
The property is listed under T3-0 zoning and provides ample on-site parking. The seller also notes convenient highway access and an approximate 15-minute commute to many major Miami destinations, with the home described as being near the Design District and minutes to Downtown, Buena Vista, and Miami Beach.
Unit 1262 is configured with 2 bedrooms and 1 bathroom. Unit 1264 also has 2 bedrooms and 1 bathroom, with a private entrance and dedicated parking.
The property is listed under T3-0 zoning and provides ample on-site parking. The seller also notes convenient highway access and an approximate 15-minute commute to many major Miami destinations, with the home described as being near the Design District and minutes to Downtown, Buena Vista, and Miami Beach.
Key Highlights
- 4‑bedroom, 2‑bath duplex built in 1959 with two 2‑bedroom/1‑bath units (1262 and 1264).
- Each unit has separate electric and water meters, plus its own water heater.
- Central AC, tile floors, and a laundry room included.
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
$37,584
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
7.53%
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%
$751,680
$751.7K
Cap Rate 7%
$536,914
$536.9K
Cap Rate 9%
$417,600
$417.6K
Market Conditions
NOI Build-Up for 1,874 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
$57.3K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$53.7K $28.65/SF
− OpEx
−$16.1K −$8.60/SF
NOI
$37.6K $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%
$751,680
Cap Rate 7%
$536,914
Cap Rate 9%
$417,600
Alternative Uses
Best Use
Multifamily LT 5
$536.9K
$469.8K – $626.4K
NOI $37,584 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$494.6K
$432.7K – $577.0K
NOI $34,619 @ 7.0% cap · market cap 6.94%
Theoretical Best
Specialty Retail
$1.26M
$1.11M – $1.48M
NOI $88,547 @ 7.0% cap · market cap 17.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
13,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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 - Four-bedroom duplex with tile floors, central AC, laundry room, and two private yards, each served by separate utilities.
Where is this duplex located?
The property is located at 1262 - 1264 Miami, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 4‑bedroom, 2‑bath duplex built in 1959 with two 2‑bedroom/1‑bath units (1262 and 1264).; Each unit has separate electric and water meters, plus its own water heater.; Central AC, tile floors, and a laundry room included.
