Two-Unit Corner-Lot
For Sale
$650,000
Miami, FL 33147, Miami, FL 33147
Residential Income, Miami, FL
Property Size1,917 SF
Price / SF$339.07
Days on Market175
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Parking
8
Security features
Security
Window features
Drapes
Patio and Porch features
Porch
Exterior features
Fence, Fruit Trees, Outdoor Grill, Porch, Storm/Security Shutters
Fencing
Fenced
Subdivision
EAST GULFAIR
Lot features
< 1/4 Acre
Directions
GPS
Standard status
Active
APN
30-31-03-013-0690
Size
1,917 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
EAST GULFAIR PB 42-47 LOT 1 LESS E150FT BLK 6 LOT SIZE 160.000 X 110 OR 16598-3020 1194 4 COC 22354-2613 05 2004 4
Tax Annual Amount
5283
Legal Description
EAST GULFAIR PB 42-47 LOT 1 LESS E150FT BLK 6 LOT SIZE 160.000 X 110 OR 16598-3020 1194 4 COC 22354-2613 05 2004 4
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
washer/dryer hookup
Building Details
Year built
1952
Floors in Building
1
Flooring type
Laminate, Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Oneida Evans · License #0648170
(786) 859-2621
Added: Mar 2
Changed: Aug 19
Last Checked: Aug 24 at 4:06AM
MLS# A11888593
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,917 square feet and was constructed in 1952 with block construction. The property includes two bedrooms and two bathrooms, along with laminate and tile flooring. Central heating and central air conditioning are complemented by ceiling fans.
Positioned on a corner lot in Miami, the property has a fenced exterior with a porch, fruit trees, an outdoor grill, and storm/security shutters. Public water and a septic tank serve the site. Each unit has its own electrical meter, while washer and dryer hookups are provided for both units.
Positioned on a corner lot in Miami, the property has a fenced exterior with a porch, fruit trees, an outdoor grill, and storm/security shutters. Public water and a septic tank serve the site. Each unit has its own electrical meter, while washer and dryer hookups are provided for both units.
Key Highlights
- Two‑unit duplex with 1,917 square feet
- Separate electrical meters for each unit
- Washer and dryer hookups in both units
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
$38,446
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
5.91%
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%
$768,920
$768.9K
Cap Rate 7%
$549,229
$549.2K
Cap Rate 9%
$427,178
$427.2K
Market Conditions
NOI Build-Up for 1,917 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
$58.7K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$54.9K $28.65/SF
− OpEx
−$16.5K −$8.60/SF
NOI
$38.4K $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%
$768,920
Cap Rate 7%
$549,229
Cap Rate 9%
$427,178
Alternative Uses
Best Use
Multifamily LT 5
$549.2K
$480.6K – $640.8K
NOI $38,446 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$505.9K
$442.7K – $590.2K
NOI $35,414 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,579 @ 7.0% cap · market cap 13.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate electrical meters and laundry hookups serve the two-unit residential property.
Where is this duplex located?
The property is located at Miami, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,917 square feet; Separate electrical meters for each unit; Washer and dryer hookups in both units
