2378 NW 60th St · Brownsville, FL 33142

$1,050,000

2 bd · 1.0 ba · 824 sqft · MultiFamily public records · 99 Days on market

Built 1940

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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 +8.0/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• DSCR +2.1/10.0
• 1% rule +1.7/10.0
• 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 MLS

CASH COW, LARGE 4-PLEX CENTRALLY LOCATED IN AN OPPORTUNITY ZONE. CAP RATE 8.8 %, FULLY RENTED. Two detached buildings: front one 3BD|1BA, and back building has 3 units of 2BD|1BA. Gross monthly rent $4,541. New roof, title throughout all units, freshly painted, 12 security camera system, solar lamps in the common areas, 4 parking spaces, 3 out of the 4 units are rented via SECTION8. CLOSE PROXIMITY TO, Allapattah, Buena Vista, Lemon City, Little River, MIA. PLEASE DO NOT DISTURB TENANTS.

Key facts

• Turnkey asset
• New exterior paint
• 4 parking spots

Tags

• FULLY RENTED PROPERTY
• NEW EXTERIOR PAINT
• DEDICATED PARKING SPACES
• TURNKEY ASSET

Property features AI

Finance

• Other: Rent for some units includes water, sewer, and trash collection
• Financial info: Unit rents reported: $1,550; $1,700; $1,700; $2,600; Some units are leased and at least one unit is month-to-month

Exterior

• Parking: Total of 4 parking spaces (on-street)
• Utilities: Public sewer; Cable not available; Water and sewer included in some rents; Trash collection included in some rents
• Home design: Two-story building; Resale property; Shingle roof; Block construction
• Construction: Block construction; Shingle roof
• Exterior features: Less than quarter acre lot; On-street parking available

Interior

• Kitchen: Some units include a kitchen; Range; Microwave; Refrigerator
• Bedrooms: Four 1-bedroom units; Three 3-bedroom units; Two 2-bedroom units; One 3-bedroom unit (separate unit type)
• Flooring: Tile
• Bathrooms: Units feature one full bathroom each
• Heating & cooling: Electric cooling; Wall furnace heating
• Interior features: Blinds on windows; Tile flooring
• Laundry & utility: Electric meter (separate electric metering for at least one unit)

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 3×2bd/1.0ba units multifamily listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative. Per door: $-267/mo.
• To cash-flow at today's rent, offer at most $862k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $708k (32.6% below list).
• Recommended offer: $708k (32.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#246 in FL, #3,900 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, schools A; Watch: amenities F, employment 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 (-0.4%/yr); 265 active listings in the ZIP; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $7,077/mo this rent would consume 214% of the median local household income ($40k/yr) (locally 5748% 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 $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.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($956k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $465k; list at $1.05M implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $707,700 (32.6% 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. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 A-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. 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?
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: 0.67% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.36%
• DSCR: 0.81
• GRM: 12.4

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: -26.8%
• Equity multiple: 0.12×
• Total profit: $-259,106
• Equity at exit: $156,558

10-year hold

• IRR: -37.2%
• Equity multiple: -0.34×
• Total profit: $-394,346
• Equity at exit: $90,785

Cash invested: $294,000 (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 33142

• Home prices YoY: -15.1%
• Rents YoY: -0.4%
• Active inventory: 265
• Price-to-rent: 45.6×

Monthly cashflow live

• Estimated rent: $7,077 medium
• Mortgage (P&I): −$5,506
• Tax from tax record: −$714 /mo · $8,569/yr
• Insurance: −$438
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,486
• Net cashflow: $-1,067

Break-even live

Break-even rent $8,428

Max offer price $861,504

Occupancy floor —

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,921
▸ 3× units	2	1	$5,157
Total (4 units)			$7,077

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: $262,500
• Closing costs: $31,500
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $1,050,000 Active 99 DOM
2. 2026-06-17
   days on market $1,050,000 Active 98 DOM
3. 2026-06-16
   days on market $1,050,000 Active 97 DOM
4. 2026-06-15
   days on market $1,050,000 Active 96 DOM
5. 2026-06-13
   days on market $1,050,000 Active 94 DOM
6. 2026-06-09
   days on market $1,050,000 Active 90 DOM
7. 2026-06-08
   days on market $1,050,000 Active 89 DOM
8. 2026-06-07
   days on market $1,050,000 Active 88 DOM
9. 2026-06-04
   days on market $1,050,000 Active 85 DOM
10. 2026-06-03
    days on market $1,050,000 Active 84 DOM
11. 2026-06-02
    days on market $1,050,000 Active 83 DOM
12. 2026-06-01
    days on market $1,050,000 Active 82 DOM
13. 2026-05-31
    days on market $1,050,000 Active 81 DOM
14. 2026-03-08
    listed $1,050,000 Active
15. 2024-08-21
    historical $1,800
16. 2024-07-21
    listed $1,800
17. 2022-01-27
    historical
18. 2021-11-30
    price $680,000
19. 2021-11-03
    listed $695,000 Active
20. 2021-01-21
    soldstatus $465,000
21. 2021-01-08
    soldstatus $465,000 Closed 492-char remark

    Show marketing remark (492 chars)

    CASH COW, LARGE 4-PLEX CENTRALLY LOCATED IN AN OPPORTUNITY ZONE. CAP RATE 8.8 %, FULLY RENTED. Two detached buildings: front one 3BD|1BA, and back building has 3 units of 2BD|1BA. Gross monthly rent $4,541. New roof, title throughout all units, freshly painted, 12 security camera system, solar lamps in the common areas, 4 parking spaces, 3 out of the 4 units are rented via SECTION8. CLOSE PROXIMITY TO, Allapattah, Buena Vista, Lemon City, Little River, MIA. PLEASE DO NOT DISTURB TENANTS.

22. 2020-12-02
    historical Active Under Contract 492-char remark

    Show marketing remark (492 chars)

    CASH COW, LARGE 4-PLEX CENTRALLY LOCATED IN AN OPPORTUNITY ZONE. CAP RATE 8.8 %, FULLY RENTED. Two detached buildings: front one 3BD|1BA, and back building has 3 units of 2BD|1BA. Gross monthly rent $4,541. New roof, title throughout all units, freshly painted, 12 security camera system, solar lamps in the common areas, 4 parking spaces, 3 out of the 4 units are rented via SECTION8. CLOSE PROXIMITY TO, Allapattah, Buena Vista, Lemon City, Little River, MIA. PLEASE DO NOT DISTURB TENANTS.

23. 2020-11-02
    listed $490,000 Active 492-char remark

    Show marketing remark (492 chars)

    CASH COW, LARGE 4-PLEX CENTRALLY LOCATED IN AN OPPORTUNITY ZONE. CAP RATE 8.8 %, FULLY RENTED. Two detached buildings: front one 3BD|1BA, and back building has 3 units of 2BD|1BA. Gross monthly rent $4,541. New roof, title throughout all units, freshly painted, 12 security camera system, solar lamps in the common areas, 4 parking spaces, 3 out of the 4 units are rented via SECTION8. CLOSE PROXIMITY TO, Allapattah, Buena Vista, Lemon City, Little River, MIA. PLEASE DO NOT DISTURB TENANTS.

24. 2011-04-14
    soldstatus $114,000
25. 2011-04-07
    soldstatus $114,000
26. 2009-12-03
    soldstatus $32,000
27. 2009-12-02
    soldstatus $32,000
28. 2007-02-18
    soldstatus $345,000
29. 2004-11-24
    soldstatus $260,000
30. 1987-06-15
    soldstatus $8,200
31. 1981-12-01
    soldstatus $90,000
32. 1981-06-01
    soldstatus $20,000

ⓘ 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: $8,569 · $714/mo
• Projected year-2 tax: $8,715 · $726/mo
• Expected delta: +$146/yr (+$12/mo · 1.7%)

ⓘ 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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $84,924
• − Mortgage interest: −$58,816
• − Property taxes: −$8,569
• − Insurance: −$5,250
• − Repairs & maintenance: −$6,794
• − Management: −$6,794
• − Depreciation: −$30,545
• Taxable loss: −$31,844
• Est. tax savings @ 24.0%: +$7,643
• After-tax cash flow: $-5,162/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 — Brownsville

• Score: 75/100
• State rank: #246
• US rank: #3900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brownsville, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 58,908
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 58,908
• Household income: $39,608
• Rent vs Own: 70.8% rent · 29.2% own
• Severe rent burden: 5748.0

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 (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 36% Black 28% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 24% Dominican 7%
• Common ancestry: Hispanic 2%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 64% French/Haitian/Cajun 1%

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: ▼ -102.31%
• Current HPI: 574.9225
• Rent YoY: ▼ -0.41%
• 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

+5150.0% since first listed

19 events — show timeline

• 2026-03-08 Listed $1,050,000 MARMLS
• 2024-08-21 Rental Removed $1,800 RENT.
• 2024-07-21 Listed for Rent $1,800 RENT.
• 2022-01-27 Listing Removed — MARMLS
• 2021-11-30 Price Changed $680,000 MARMLS
• 2021-11-03 Listed $695,000 MARMLS
• 2021-01-21 Sold (Public Records) $465,000 Public Records
• 2021-01-08 Sold (MLS) $465,000 MARMLS
• 2020-12-02 Contingent — MARMLS
• 2020-11-02 Listed $490,000 MARMLS
• 2011-04-14 Sold (Public Records) $114,000 Public Records
• 2011-04-07 Sold (MLS) $114,000 MARMLS
• 2009-12-03 Sold (MLS) $32,000 MARMLS
• 2009-12-02 Sold (Public Records) $32,000 Public Records
• 2007-02-18 Sold (Public Records) $345,000 Public Records
• 2004-11-24 Sold (Public Records) $260,000 Public Records
• 1987-06-15 Sold (Public Records) $8,200 Public Records
• 1981-12-01 Sold (Public Records) $90,000 Public Records
• 1981-06-01 Sold (Public Records) $20,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $8,569 · +11.5% YoY. Source: county tax records.