Miami Little Havana Duplex

[Daniel Detoni]

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.

[Jose Martin]

@Daniel Detoni

Buy it immediately lol

Even if your cap is 6% the area is HOT right now and speculators are buying up multi units left and right.