1958 NE 172nd St · North Miami Beach, FL 33162

$1,079,000

5 bd · 4.0 ba · 2,142 sqft · MultiFamily public records · 278 Days on market

Built 1958

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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 +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 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

This fully renovated 4-unit multifamily property in North Miami Beach—just minutes from Aventura Mall and Greynolds Park—offers a prime turnkey investment with strong, stable cash flow. Featuring three 1-bedroom units and one 2-bedroom unit, all leased long-term at $1,650–$2,350 per month, the property generates over $88,140 in gross scheduled income annually, with additional upside potential through Section 8 (1/1 rents up to ~$1,950). Upgrades include new kitchens, bathrooms, flooring, plumbing, mini-split A/C systems, and hurricane impact windows. With high rental demand, limited local inventory, and comparable sales supporting long-term appreciation, this is a rare opp

Key facts

• Fully renovated
• New kitchens
• New plumbing

Tags

• FULLY RENOVATED
• NEW KITCHENS
• NEW BATHROOMS
• NEW FLOORING
• NEW PLUMBING
• MINI-SPLIT A/C SYSTEMS

Property features AI

Finance

• Financial info: Units show as leased with listed actual rents: one 2-bed at $2,350 and three 1-beds at $1,650 each; Rent includes water, sewer and trash for tenants

Exterior

• Parking: On-street parking for each unit
• Utilities: Public sewer; Cable available; Water service included for rented units; Sewer included for rented units; Trash collection included for rented units
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Resale property
• Exterior features: Less than quarter-acre lot; On-street parking

Interior

• Bedrooms: One 2-bedroom unit (leased); Three 1-bedroom units (each leased)
• Flooring: Vinyl
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Wall furnace heating; Wall/window cooling units
• Interior features: Impact glass windows; Vinyl flooring

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/4.0-bath units multifamily listed at $1.08M.

Deal economics

• At list price, monthly cash flow is $6k ($75k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.08M).
• Recommended offer: $950k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 82/100 on livability (#71 in FL, #1,177 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D+, crime 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.
• Zoned schools: Greynolds Park Elementary School (math 39% / reading 40%, grade F, #1,513 of 2,144 statewide, top 73%, 527 students, 74% FRL); John F. Kennedy Middle School (math 47% / reading 55%, grade C, #237 of 571 statewide, top 43%, 1,074 students, 67% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL).
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-13 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.6%/yr); 287 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $32k 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 $302k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 278 days — a 12% lower offer ($950k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $850k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $949,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 278 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.57% ✓
• Cap rate: 13.22%
• Cash-on-cash: 24.75%
• DSCR: 2.10
• GRM: 5.3

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: 14.8%
• Equity multiple: 1.57×
• Total profit: $172,376
• Equity at exit: $160,882

10-year hold

• IRR: 21.2%
• Equity multiple: 2.55×
• Total profit: $469,370
• Equity at exit: $93,292

Cash invested: $302,120 (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 33162

• Rents YoY: -1.6%
• Active inventory: 287
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $16,955 medium
• Mortgage (P&I): −$5,658
• Tax from tax record: −$1,056 /mo · $12,670/yr
• Insurance: −$450
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,561
• Net cashflow: $6,231

Break-even live

Break-even rent $9,068

Max offer price $1,079,000

Occupancy floor 58%

Sensitivity live

Price	-10% $6,841	-5% $6,536	+0% $6,231	+5% $5,925	+10% $5,620
Rent	-10% $4,891	-5% $5,561	+0% $6,231	+5% $6,900	+10% $7,570
Rate	-1.0pp $6,774	-0.5pp $6,505	base $6,231	+0.5pp $5,951	+1.0pp $5,667

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	4	$16,956
Total (4 units)			$16,955

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: $269,750
• Closing costs: $32,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 NE 165th St North Miami Beach, FL	4.0	2.5	2971	$26,500	$8.92	24d	1	1.31mi
3200 NE 165th St North Miami Beach, FL	4.0	2.5	2971	$26,500	$8.92	5d	1	1.31mi

Listing history 19 events

1. 2025-11-17
   price $1,079,000
2. 2025-11-13
   price $960,000
3. 2025-10-21
   price $1,079,000
4. 2025-08-19
   listed $1,100,000 Active
5. 2025-08-12
   historical $1,595
6. 2025-07-14
   listed $1,595
7. 2025-07-01
   historical $1,700
8. 2025-06-03
   listed $1,700
9. 2025-05-10
   historical $2,195
10. 2025-04-25
    price $2,195
11. 2025-04-14
    listed $2,250
12. 2024-09-09
    historical $1,695
13. 2024-09-07
    listed $1,695
14. 2023-09-06
    soldstatus $850,000
15. 2022-10-12
    soldstatus $688,500
16. 2005-01-03
    soldstatus $320,000
17. 2002-02-26
    soldstatus $185,000
18. 2000-03-06
    soldstatus $115,000
19. 1987-04-01
    soldstatus $116,250

ⓘ 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: $12,670 · $1,056/mo
• Projected year-2 tax: $12,670 · $1,056/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 28 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $203,460
• − Mortgage interest: −$60,441
• − Property taxes: −$12,670
• − Insurance: −$5,395
• − Repairs & maintenance: −$16,277
• − Management: −$16,277
• − Depreciation: −$31,389
• Taxable income: $61,012
• Est. tax owed @ 24.0%: −$14,643
• After-tax cash flow: $60,125/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 — North Miami Beach

• Score: 82/100
• State rank: #71
• US rank: #1177

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami Beach, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 90,324
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 46,606
• Household income: $60,692
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 2509.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 53% Hispanic / Latino 30% Two or more races 15% White 12% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 3%
• Common ancestry: Hispanic 31% Romanian 1% Scotch-Irish 1%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · French/Haitian/Cajun 35% Spanish 30% Other Indo-European 2%

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: ▼ -445.57%
• Current HPI: 596.6178
• Rent YoY: ▼ -1.59%
• 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

+828.2% since first listed

19 events — show timeline

• 2025-11-17 Price Changed $1,079,000 MARMLS
• 2025-11-13 Price Changed $960,000 MARMLS
• 2025-10-21 Price Changed $1,079,000 MARMLS
• 2025-08-19 Listed $1,100,000 MARMLS
• 2025-08-12 Rental Removed $1,595 RENTALBEAST
• 2025-07-14 Listed for Rent $1,595 RENTALBEAST
• 2025-07-01 Rental Removed $1,700 RENTALBEAST
• 2025-06-03 Listed for Rent $1,700 RENTALBEAST
• 2025-05-10 Rental Removed $2,195 RENTALBEAST
• 2025-04-25 Price Changed $2,195 RENTALBEAST
• 2025-04-14 Listed for Rent $2,250 RENTALBEAST
• 2024-09-09 Rental Removed $1,695 RENTALBEAST
• 2024-09-07 Listed for Rent $1,695 RENTALBEAST
• 2023-09-06 Sold (Public Records) $850,000 Public Records
• 2022-10-12 Sold (Public Records) $688,500 Public Records
• 2005-01-03 Sold (Public Records) $320,000 Public Records
• 2002-02-26 Sold (Public Records) $185,000 Public Records
• 2000-03-06 Sold (Public Records) $115,000 Public Records
• 1987-04-01 Sold (Public Records) $116,250 Public Records

Property tax history

+10.2%/yr

Latest (2025): $12,670 · +5.4% YoY. Source: county tax records.