26 NW 24th Ct · Miami, FL 33125

$715,000

3 bd · 2.0 ba · 2,172 sqft · MultiFamily public records · 7 Days on market

Built 1925

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Investor Special — Quadruplex w/ Immediate Income! Rare opportunity to own a 4-unit income-producing property in Miami's highly sought-after 33125 zip code. Property features a spacious 3BD/2BA main house in front plus 3 rear income-producing units currently generating $2,100/month gross rental income. Unit breakdown: 1/1 with full kitchen rented at $800/mo · 1/1 with kitchenette rented at $650/mo · 1/1 studio-style unit rented at $650/mo. Rents are well below market value — significant upside potential for savvy investor to increase cash flow immediately upon renovation. Main house is owner-occupied and delivered vacant at closing — perfect for owner-occupan

Key facts

• Spacious main house
• 6 parking spots
• Built 1925

Tags

• INCOME PRODUCING PROPERTY
• SPACIOUS MAIN HOUSE
• PUBLIC TRANSIT ACCESS
• STEPS FROM LITTLE HAVANA

Property features AI

Finance

• Other: Annual tax information not included per instructions
• Financial info: Rent includes electricity, hot water, and cable TV for tenants; Actual rents reported: three units at $650 each, two other units at $650 and $800 respectively (units indicated as leased)
• HOA & community: No HOA information provided

Exterior

• Parking: On-street parking for multiple units; One unit includes a dedicated parking space; Property lists a total of 6 parking spaces
• Security: No security details provided
• Utilities: Cable available; Public sewer
• Home design: Single-story building; Resale property; Shingle roof; Block construction
• Construction: Block construction; Shingle roof
• Exterior features: Less than quarter acre lot; On-street parking available; one designated parking space noted; Total of 6 parking spaces indicated for the property

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Five 1-bedroom units (three efficiency-style units and two efficiency-style units; one unit has a designated parking space)
• Flooring: Concrete flooring; Ceramic tile flooring
• Bathrooms: Each unit has one full bathroom (total of five 1-bath units)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Concrete and ceramic tile flooring
• Laundry & utility: No laundry or utility room details provided

What this means for you Summary

Snapshot

• This is a 1×3bd/2.0ba + 3×1bd/1.0ba units multifamily listed at $715k.

Deal economics

• At list price, monthly cash flow is $6k ($76k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $715k).
• Cap rate 16.9% vs local median 1.9% in Miami — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, cost of living F.
• Miami-Dade (suburban): math 45% / reading 54% proficiency, ranked #40 of 73 in FL (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.4%/yr); 241 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $13,493/mo this rent would consume 360% of the median local household income ($45k/yr) (locally 5223% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $200k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $715,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.89% ✓
• Cap rate: 16.90%
• Cash-on-cash: 37.88%
• DSCR: 2.69
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 30.6%
• Equity multiple: 2.23×
• Total profit: $246,972
• Equity at exit: $106,609

10-year hold

• IRR: 36.2%
• Equity multiple: 3.90×
• Total profit: $579,903
• Equity at exit: $61,820

Cash invested: $200,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33125

• Rents YoY: -1.4%
• Active inventory: 241
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $13,493 medium
• Mortgage (P&I): −$3,750
• Tax from tax record: −$292 /mo · $3,501/yr
• Insurance: −$298
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,834
• Net cashflow: $6,320

Break-even live

Break-even rent $5,493

Max offer price $715,000

Occupancy floor 48%

Sensitivity live

Price	-10% $6,725	-5% $6,523	+0% $6,320	+5% $6,118	+10% $5,916
Rent	-10% $5,254	-5% $5,787	+0% $6,320	+5% $6,853	+10% $7,386
Rate	-1.0pp $6,680	-0.5pp $6,502	base $6,320	+0.5pp $6,135	+1.0pp $5,947

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	2	$3,892
▸ 3× units	1	1	$9,600
Total (4 units)			$13,493

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $178,750
• Closing costs: $21,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2951 NW 13th St Unit 1399868P Miami, FL	4.0–8.0	3.5–6.0	3745	$11,962	$3.19	9d	2	0.98mi
1710 SW 27th Ave Unit 1272101P Miami, FL	1.0–5.0	1.0–4.0	1716	$11,847	$6.90	9d	3	1.20mi

Listing history 6 events

1. 2026-06-21
   days on market $715,000 Active 7 DOM
2. 2026-06-18
   days on market $715,000 Active 4 DOM
3. 2026-06-17
   days on market $715,000 Active 3 DOM
4. 2026-06-16
   days on market $715,000 Active 2 DOM
5. 2026-06-15
   remarks 667-char remark
6. 2026-06-15
   listed $715,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $3,501 · $292/mo
• Projected year-2 tax: $5,934 · $495/mo
• Expected delta: +$2,434/yr (+$203/mo · 69.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 5 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $161,916
• − Mortgage interest: −$40,051
• − Property taxes: −$3,501
• − Insurance: −$3,575
• − Repairs & maintenance: −$12,953
• − Management: −$12,953
• − Depreciation: −$20,800
• Taxable income: $68,082
• Est. tax owed @ 24.0%: −$16,340
• After-tax cash flow: $59,504/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Miami-Dade
• NCES district ID: 1200390
• Math proficiency: 45% ▼ -16.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $43,928
• Composite: 41.76/100
• National rank: #3397
• State rank: #40 of 73 in FL

Livability — Miami

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment C- Housing B- Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 56,897
• Household income: $44,979
• Rent vs Own: 74.0% rent · 26.0% own
• Severe rent burden: 5223.0

Population outlook (Miami-Dade County) Hauer SSP2

• Today (2025): 3,126,439 people
• By 2030: 3,325,765 · +6.4%
• By 2040: 3,697,561 · +18.3%
• By 2050: 4,012,134 · +28.3%
• By 2075: 4,605,612 · +47.3%
• By 2100: 4,866,598 · +55.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 52% White 4% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 46% Dominican 3% Salvadoran 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 68% · Canada, Jamaica, Dominican Republic
• Languages at home: 9% English-only · Spanish 90%

Political lean MEDSL · Miami-Dade

• 2024 margin: R (+11.4) · D 43.9% · R 55.4%
• 2008→2024 swing: -27.6pp toward R · 2008: 16.1pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: D+7.3 2016: D+29.6 2012: D+23.7 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -402.98%
• Current HPI: 476.1631
• Rent YoY: ▼ -1.39%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

1 event — show timeline

• 2026-06-14 Listed $715,000 MARMLS

Property tax history

+0.3%/yr

Latest (2025): $3,501 · +3.5% YoY. Source: county tax records.