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    Property profile & analytics

    581 113Th St Miami, FL 33168

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5928372
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 581 113Th St

    Year built
    1958
    Property type
    Small apartment buildings

    Description

    This meticulously renovated 1958-built duplex in desirable Miami Shores, Florida, presents a fantastic investment opportunity. Located at 581 NW 113th St, Miami Shores, FL 33168, this single-story property offers two identical units, each boasting two bedrooms and one bathroom. The units are in excellent condition, reflecting recent renovations. A significant advantage is the substantial backyard, enhanced by a privacy fence, offering residents a peaceful retreat. The property's income-generating potential is undeniable, making it an attractive proposition for investors seeking a strong return. The asking price is $630,000. Situated in Miami-Dade County, this duplex benefits from its location in the sought-after Miami Shores community. The property's excellent condition, combined with its desirable features and location, makes it a compelling investment opportunity. The seller is motivated to finalize a sale, suggesting a potential for negotiation. This turnkey property requires minimal effort to begin generating immediate income. The property's single-story design is also a notable feature. This duplex represents a rare chance to acquire a well-maintained, income-producing asset in a prime Miami Shores location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2079269
    Latitude
    25.8785546

    Comparable in this City

    • $849,999
      1,966 SF

      POWERS ACRES

      Multifamily properties • 1,966 SF
      511 133Rd Rd, North Miami, FL 33168
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    • $599,000

      Miami Duplex: Prime Location

      Completely remodeled, spacious duplex near Miami Shores.
      722 108Th St, Miami, FL 33168
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    • $640,000

      Oversized Duplex with Large Lot

      Duplex with strong rental upside in a prime Miami location.
      1006 NW 112Th Ter, Miami, FL 33168
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    • $749,000

      North Miami Remodeled Duplex

      Remodeled duplex in North Miami with immediate rental income.
      740-742 135Th St, Miami, FL 33168
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    • $639,000

      Updated Duplex Near Miami Shores

      Updated duplex near Miami Shores and El Portal.
      534 NW 113Th St, Miami, FL 33168
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    • $720,000

      Miami Duplex in Central Location

      Corner duplex in central Miami with month-to-month tenants.
      1090 NW 112Th St, Miami, FL 33168
      View Details

    Similar Nearby for Sale

    • $849,999
      1,966 SF

      POWERS ACRES

      Multifamily properties • 1,966 SF
      511 133Rd Rd, North Miami, FL 33168
      View Details
    • $599,000

      Miami Duplex: Prime Location

      Completely remodeled, spacious duplex near Miami Shores.
      722 108Th St, Miami, FL 33168
      View Details
    • $749,000

      North Miami Remodeled Duplex

      Remodeled duplex in North Miami with immediate rental income.
      740-742 135Th St, Miami, FL 33168
      View Details
    • $515,000

      Updated Duplex-Style Property

      Updated duplex with impact windows, new floors, and modern amenities.
      781 NW 108Th St, Miami, FL 33168
      View Details
    • $639,000

      Updated Duplex Near Miami Shores

      Updated duplex near Miami Shores and El Portal.
      534 NW 113Th St, Miami, FL 33168
      View Details
    • $720,000

      Miami Duplex in Central Location

      Corner duplex in central Miami with month-to-month tenants.
      1090 NW 112Th St, Miami, FL 33168
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo

      North Miami Apartment For Rent

      Apartment for rent in North Miami with utilities included.
      511 NW 133Rd St, Miami, FL 33168
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    • $1,700 /Mo

      Efficiency Apartment in North Miami

      Centrally located efficiency apartment near public transportation in North Miami.
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    • $1,600 /Mo

      Furnished Apartment Near Barry University

      Fully furnished 1BD/1BA apartment with utilities included in central North Miami.
      14615 N Miami Ave, Miami, FL 33168
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    • $2,500 /Mo

      Modern Remodeled Apartment with Utilities

      Remodeled 2/1 apartment with included utilities and modern amenities.
      115 NW 118Th St, Miami, FL 33168
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    • $1,800 /Mo

      Cozy 2BR Apartment For Rent

      Two-bedroom apartment with in-unit laundry and central A/C.
      921 NW 110Th St, Miami, FL 33168
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    • $2,000 /Mo

      Cozy Apartment with Modern Amenities

      Two-bedroom apartment featuring in-unit laundry and central A/C.
      923 NW 110Th St, Miami, FL 33168
      View Details
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    581 113Th St
    Miami, FL 33168
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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