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Updated about 8 years ago,

User Stats

23
Posts
9
Votes
Daniel Detoni
  • Professional
  • Miami, FL
9
Votes |
23
Posts

Miami Little Havana Duplex

Daniel Detoni
  • Professional
  • Miami, FL
Posted

Dear all,

I came across an off market for a duplex deal in Little Havana, Miami. The Little Havana is considered an up and coming area plus the duplex seems to be in a good location, near to the 836, Flagler, 95 and 8 minutes near Biscayne- Brickell. The net cap is 8.53 per year. Taking in consideration it is Little Havana, what is your opinion about the deal?

Duplex in Little Havana number:

Both units are rented:

Unit 1 for $900 per month

Unit 2 for $850 per month

- Asking price: $190,000

- Rent roll: $900 + $800 = $1,700 per month

- Property Tax: $2,700 per year

- Insurance: $1,500 per year

- NOI: $16,200 per year

- Net Cap: $8.53% per year

According to my research, there is not much properties with this CAP in the area, The area is changing, there is a new 2 story building next door, and the area seems to be growing fast into a safe and family oriented neighborhood. Property is well maintained but would need some improvement to raise the rent value.

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