1621 NW 16th St · Miami, FL 33125

$1,495,000

8 bd · 5.0 ba · 3,728 sqft · MultiFamily public records · 139 Days on market

Built 1978

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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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• 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: 5 units. estimate disagrees with records

Listing remarks MLS

Exceptional 5-unit multifamily property, zoned T6-8-R, offering incredible investment potential in a highly sought- after area. The property consists of three 2-bed/1-bath units, one 1-bed/1-bath unit, and a studio, catering to a diverse range of tenants. The T6-8-R zoning allows for high-density residential development, making this property a prime candidate for future redevelopment or expansion. Located in a vibrant neighborhood, the property is close to major transportation hubs, shopping, dining, and entertainment options, ensuring strong demand and high occupancy rates. This is a rare opportunity to acquire a versatile asset with significant upside in a rapidly growing market.

Key facts

• Zoned t6-8-r
• New permitted roof
• 7 parking spots

Tags

• PRIME CENTRAL LOCATION
• NEW PERMITTED ROOF
• ZONED T6-8-R

Property features AI

Finance

• Other: Cable service available
• Financial info: Multiple rental units: several 2-bed/1-bath units and one 1-bed/1-bath unit; Typical listed rents: 2-bedroom units shown at $2,000 each; 1-bedroom unit shown at $1,600; Some units listed as month-to-month; at least one unit noted as leased
• HOA & community: Gardener included in rent for applicable units; Trash collection and sewer included in rent for applicable units; Water included in rent for applicable units

Exterior

• Parking: Parking for 7 vehicles; Designated parking spaces for units
• Security: Smoke detectors in units
• Utilities: Public water; Public sewer
• Home design: 2-story building; Resale property; Shingle roof; Block construction
• Construction: Block construction; Shingle roof
• Exterior features: Exterior lighting; Less than quarter acre lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Multiple units with 2-bedroom units (several units listed); One unit listed as 1-bedroom
• Flooring: Tile
• Bathrooms: Several units with 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds; Tile flooring
• Laundry & utility: Community laundry facilities; Electric meter for each unit

What this means for you Summary

Snapshot

• This is a 3×2bd/1.0ba + 1×1bd/1.0ba + 1×?bd/1.0ba units multifamily listed at $1.50M.

Deal economics

• At list price, monthly cash flow is $5k ($56k/yr) — positive. Per door: $927/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.50M).
• Recommended offer: $1.32M (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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.
• Zoned schools: Paul Laurence Dunbar K-8 Center (math 27% / reading 32%, grade F, #1,896 of 2,144 statewide, top 90%, 336 students, 77% FRL); Citrus Grove Middle School (math 19% / reading 21%, grade F, #558 of 571 statewide, top 98%, 781 students, 66% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 68% FRL track the district average.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 (-1.4%/yr); 241 active listings in the ZIP; 1 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $45k 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.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($1.32M) is reasonable based on typical stale-listing flexibility.
• 3 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 $1.05M; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,315,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 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 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.25% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.52%
• DSCR: 1.65
• GRM: 6.7

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-1,541
• Equity at exit: $222,909

10-year hold

• IRR: 6.2%
• Equity multiple: 1.40×
• Total profit: $167,873
• Equity at exit: $129,260

Cash invested: $418,600 (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: 30.8×

Monthly cashflow live

• Estimated rent: $18,695 medium
• Mortgage (P&I): −$7,840
• Tax from tax record: −$1,243 /mo · $14,910/yr
• Insurance: −$623
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,926
• Net cashflow: $4,637

Break-even live

Break-even rent $12,825

Max offer price $1,495,000

Occupancy floor 70%

Sensitivity live

Price	-10% $5,483	-5% $5,060	+0% $4,637	+5% $4,214	+10% $3,791
Rent	-10% $3,160	-5% $3,899	+0% $4,637	+5% $5,376	+10% $6,114
Rate	-1.0pp $5,390	-0.5pp $5,017	base $4,637	+0.5pp $4,250	+1.0pp $3,856

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$12,129
1× unit	1	1	$3,375
1× unit	0	1	$3,192
Total (5 units)			$18,695

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: $373,750
• Closing costs: $44,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	$23,380	$6.24	9d	2	1.35mi

Listing history 8 events

1. 2026-05-21
   status Pending
2. 2026-01-02
   listed $1,495,000 Active
3. 2025-12-31
   historical
4. 2025-06-06
   listed $1,495,000 Active
5. 2025-03-04
   soldstatus $1,050,000
6. 2025-02-26
   soldstatus $1,050,000 Closed 695-char remark

   Show marketing remark (695 chars)

   Exceptional 5-unit multifamily property, zoned T6-8-R, offering incredible investment potential in a highly sought- after area. The property consists of three 2-bed/1-bath units, one 1-bed/1-bath unit, and a studio, catering to a diverse range of tenants. The T6-8-R zoning allows for high-density residential development, making this property a prime candidate for future redevelopment or expansion. Located in a vibrant neighborhood, the property is close to major transportation hubs, shopping, dining, and entertainment options, ensuring strong demand and high occupancy rates. This is a rare opportunity to acquire a versatile asset with significant upside in a rapidly growing market.

7. 2025-01-31
   status Pending 695-char remark

   Show marketing remark (695 chars)

   Exceptional 5-unit multifamily property, zoned T6-8-R, offering incredible investment potential in a highly sought- after area. The property consists of three 2-bed/1-bath units, one 1-bed/1-bath unit, and a studio, catering to a diverse range of tenants. The T6-8-R zoning allows for high-density residential development, making this property a prime candidate for future redevelopment or expansion. Located in a vibrant neighborhood, the property is close to major transportation hubs, shopping, dining, and entertainment options, ensuring strong demand and high occupancy rates. This is a rare opportunity to acquire a versatile asset with significant upside in a rapidly growing market.

8. 2024-08-26
   listed $1,500,000 Active 695-char remark

   Show marketing remark (695 chars)

   Exceptional 5-unit multifamily property, zoned T6-8-R, offering incredible investment potential in a highly sought- after area. The property consists of three 2-bed/1-bath units, one 1-bed/1-bath unit, and a studio, catering to a diverse range of tenants. The T6-8-R zoning allows for high-density residential development, making this property a prime candidate for future redevelopment or expansion. Located in a vibrant neighborhood, the property is close to major transportation hubs, shopping, dining, and entertainment options, ensuring strong demand and high occupancy rates. This is a rare opportunity to acquire a versatile asset with significant upside in a rapidly growing market.

ⓘ 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: $14,910 · $1,243/mo
• Projected year-2 tax: $14,910 · $1,243/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 6/10 Major FEMA zone AE · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 29 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: $224,340
• − Mortgage interest: −$83,743
• − Property taxes: −$14,910
• − Insurance: −$12,594
• − Repairs & maintenance: −$17,947
• − Management: −$17,947
• − Depreciation: −$43,491
• Taxable income: $33,708
• Est. tax owed @ 24.0%: −$8,090
• After-tax cash flow: $47,556/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

-0.3% since first listed

8 events — show timeline

• 2026-05-21 Pending — MARMLS
• 2026-01-02 Listed $1,495,000 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-06-06 Listed $1,495,000 MARMLS
• 2025-03-04 Sold (Public Records) $1,050,000 Public Records
• 2025-02-26 Sold (MLS) $1,050,000 MARMLS
• 2025-01-31 Pending — MARMLS
• 2024-08-26 Listed $1,500,000 MARMLS

Property tax history

+7.5%/yr

Latest (2025): $14,910 · +14.1% YoY. Source: county tax records.