2475 NE 137th St · North Miami Beach, FL 33181

$415,000

2 bd · 2.0 ba · 1,360 sqft · SingleFamily public records · 4 Days on market

Built 1984 2,400 sqft lot Est $340k · 22% over

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Why this score? — see what drove the F 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 +13.7/30.0
• Schools +4.2/10.0
• DSCR +4.1/10.0
• Livability +4.1/5.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Fully remodeled in 2025, this North Miami Beach home is move-in ready and packed with major upgrades, including a new roof (2025), new drain field (2025), recently pumped septic system, A/C (2018), and new ductwork (2025). Inside, you'll find luxury vinyl plank flooring, updated bathrooms, fresh paint, and modern finishes throughout. Conveniently located just minutes from Aventura Mall, Sunny Isles Beach, Greynolds Park, top dining, shopping, and major highways, this home offers the perfect combination of updated living and an unbeatable location.

Key facts

• New drain field
• A c
• New ductwork

Tags

• NEW ROOF
• NEW DRAIN FIELD
• RECENTLY PUMPED SEPTIC SYSTEM
• A C
• NEW DUCTWORK
• LUXURY VINYL PLANK FLOORING

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Septic tank
• Home design: Single-story; Block construction; Effective year built
• Construction: Block construction
• Exterior features: No notable exterior features listed; South-facing

Interior

• Kitchen: Dishwasher; Disposal; Microwave
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First floor entry; Vinyl flooring
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $415k.

Deal economics

• At list price, monthly cash flow is $-399 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $345k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $364k (12.3% below list).
• Recommended offer: $345k (17.0% below list) — sets the bar for cash-flow.
• Cap rate 6.4% vs local median 5.2% in North Miami Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: David Lawrence Jr. K-8 Center (math 43% / reading 50%, grade D-, #1,223 of 2,144 statewide, top 57%, 1,282 students, 55% FRL); John F. Kennedy Middle School (math 47% / reading 55%, grade C, #237 of 571 statewide, top 43%, 1,074 students, 67% FRL); Alonzo & Tracy Mourning Senior High School (math 38% / reading 50%, grade F, #244 of 667 statewide, top 37%, 1,597 students, 48% FRL).
• Market conditions: Rents soft (-0.1%/yr); 340 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).
• At $3,639/mo this rent would consume 69% of the median local household income ($63k/yr) (locally 1914% 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 $3k of loan paydown is wiped out by about $12k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 20y 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 $310k; 34% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $344,586 (17.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $340,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2050 NE 140th St #3	0.42mi	2/2.5	1,200 (-12%)	18mo	$300,000	$250	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -27.1%
• Equity multiple: 0.11×
• Total profit: $-102,995
• Equity at exit: $61,878

10-year hold

• IRR: -44.0%
• Equity multiple: -0.40×
• Total profit: $-162,352
• Equity at exit: $35,882

Cash invested: $116,200 (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 33181

• Rents YoY: -0.1%
• Active inventory: 340
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,639 medium
• Mortgage (P&I): −$2,176
• Tax from tax record: −$497 /mo · $5,969/yr
• Insurance: −$173
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$764
• Net cashflow: $-399

Break-even live

Break-even rent $4,143

Max offer price $344,586

Occupancy floor —

Sensitivity live

Price	-10% $-164	-5% $-281	+0% $-399	+5% $-516	+10% $-634
Rent	-10% $-686	-5% $-542	+0% $-399	+5% $-255	+10% $-111
Rate	-1.0pp $-190	-0.5pp $-293	base $-399	+0.5pp $-506	+1.0pp $-616

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: $103,750
• Closing costs: $12,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 NE 135th St #904 North Miami, FL	2.0	2.0	963	$23,509	$24.41	17d	1	0.32mi
2020 NE 135th St North Miami, FL	2.0	2.0	963	$23,509	$24.41	16d	1	0.32mi

Listing history 4 events

1. 2026-06-16
   status $415,000 Pending 4 DOM
2. 2026-06-15
   days on market $415,000 Active 4 DOM
3. 2026-06-13
   remarks 553-char remark
4. 2026-06-13
   listed $415,000 Active 2 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: $5,969 · $497/mo
• Projected year-2 tax: $5,969 · $497/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 27 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: $43,665
• − Mortgage interest: −$23,246
• − Property taxes: −$5,969
• − Insurance: −$7,194
• − Repairs & maintenance: −$3,493
• − Management: −$3,493
• − Depreciation: −$12,073
• Taxable loss: −$11,803
• Est. tax savings @ 24.0%: +$2,833
• After-tax cash flow: $-1,950/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: 99,437
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,848
• Household income: $63,275
• Rent vs Own: 62.4% rent · 37.6% own
• Severe rent burden: 1914.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 44% Black 29% Two or more races 23% White 22% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 8% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 18% Lithuanian 3% Italian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 28% English-only · Spanish 44% French/Haitian/Cajun 18% Other Indo-European 4%

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: ▼ -334.57%
• Current HPI: 341.3285
• Rent YoY: ▼ -0.11%
• 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

+4782.4% since first listed

36 events — show timeline

• 2026-06-06 Listed $415,000 MARMLS
• 2025-11-07 Listing Removed — MARMLS
• 2025-10-31 Relisted — MARMLS
• 2025-10-28 Pending — MARMLS
• 2025-10-14 Relisted — MARMLS
• 2025-10-08 Pending — MARMLS
• 2025-10-06 Price Changed $399,900 MARMLS
• 2025-09-30 Relisted — MARMLS
• 2025-09-15 Pending — MARMLS
• 2025-09-08 Relisted — MARMLS
• 2025-09-05 Pending — MARMLS
• 2025-09-02 Price Changed $409,990 MARMLS
• 2025-08-19 Price Changed $429,000 MARMLS
• 2025-08-04 Price Changed $439,000 MARMLS
• 2025-08-04 Relisted — MARMLS
• 2025-07-27 Pending — MARMLS
• 2025-07-23 Listed $425,000 MARMLS
• 2024-08-29 Listing Removed — MARMLS
• 2024-05-07 Price Changed $450,000 MARMLS
• 2023-04-29 Listed $500,000 MARMLS
• 2022-01-03 Sold (Public Records) $310,000 Public Records
• 2021-12-23 Sold (MLS) $310,000 MARMLS
• 2021-12-06 Contingent — MARMLS
• 2021-10-29 Price Changed $319,000 MARMLS
• 2021-09-26 Listed $339,900 MARMLS
• 2021-07-29 Sold (Public Records) $200,000 Public Records
• 2015-10-02 Listing Removed — MARMLS
• 2014-11-29 Pending — MARMLS
• 2014-11-06 Listed $120,000 MARMLS
• 2013-07-22 Listing Removed — MARMLS
• 2013-07-08 Listed $135,000 MARMLS
• 2007-03-07 Sold (Public Records) $190,000 Public Records
• 2006-11-14 Listed $205,000 MARMLS
• 2003-08-22 Sold (Public Records) $73,000 Public Records
• 2002-04-09 Sold (Public Records) $55,000 Public Records
• 1979-05-01 Sold (Public Records) $8,500 Public Records

Property tax history

+11.0%/yr

Latest (2025): $5,969 · -14.9% YoY. Source: county tax records.