767 SW 2nd St · Miami, FL 33130

$1,250,000

4 bd · 2.0 ba · 2,055 sqft · MultiFamily public records · 124 Days on market

Built 1924

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Why this score? — see what drove the D- 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).

• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• Schools +4.2/10.0
• Appreciation +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 1% rule +2.1/10.0
• DSCR +1.3/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent investment opportunity in the heart of Miami 33130! This well-located two-story multifamily offers strong income potential in one of Miami’s most desirable rental areas. Fully leased, the building sits in a prime location just minutes from Brickell, Downtown Miami, and major highways, making it highly attractive for renters seeking convenience and accessibility. Close to shopping, dining, public transportation, and entertainment, this property is perfectly positioned for consistent occupancy. Whether you’re looking to expand your portfolio or secure a solid income-producing asset, this centrally located multifamily is a rare opportunity in a high-demand area.

Key facts

• Close to dining
• Prime location
• Close to shopping

Tags

• TWO-STORY MULTIFAMILY
• STRONG INCOME POTENTIAL
• PRIME LOCATION
• CLOSE TO SHOPPING
• CLOSE TO DINING
• CLOSE TO PUBLIC TRANSPORTATION

Property features AI

Finance

• HOA & community: Monthly association fee

Exterior

• Parking: 4 parking spaces
• Utilities: Public sewer; Cable not available
• Home design: 2-story property; Effective year built listed
• Construction: Block construction; Concrete roof
• Exterior features: Less than quarter acre lot

Interior

• Flooring: Laminate
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $1.25M.

Deal economics

• At list price, monthly cash flow is $-2k ($-26k/yr) — negative.
• To cash-flow at today's rent, offer at most $863k (31.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $882k (29.4% below list).
• Recommended offer: $863k (31.0% below list) — sets the bar for cash-flow.
• Cap rate 4.6% 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 (-0.5%/yr); 642 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $8,820/mo this rent would consume 173% of the median local household income ($61k/yr) (locally 5231% 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 (-1.8%/yr); year-one equity from $9k of loan paydown is wiped out by about $22k 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 124 days — a 12% lower offer ($1.10M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $85k; list at $1.25M implies a 1371% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $863,100 (31.0% 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. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
8. 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?
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: 0.71% ✗
• Cap rate: 4.60%
• Cash-on-cash: -6.05%
• DSCR: 0.73
• GRM: 11.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.79% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.13×
• Total profit: $-302,902
• Equity at exit: $255,038

10-year hold

• IRR: -21.3%
• Equity multiple: -0.38×
• Total profit: $-483,245
• Equity at exit: $229,768

Cash invested: $350,000 (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 33130

• Home prices YoY: -0.5%
• Rents YoY: -0.5%
• Active inventory: 642
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $8,820 medium
• Mortgage (P&I): −$6,555
• Tax from tax record: −$1,655 /mo · $19,865/yr
• Insurance: −$521
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,852
• Net cashflow: $-2,190

Break-even live

Break-even rent $11,592

Max offer price $863,100

Occupancy floor —

Sensitivity live

Price	-10% $-1,483	-5% $-1,836	+0% $-2,190	+5% $-2,544	+10% $-2,898
Rent	-10% $-2,887	-5% $-2,539	+0% $-2,190	+5% $-1,842	+10% $-1,493
Rate	-1.0pp $-1,561	-0.5pp $-1,872	base $-2,190	+0.5pp $-2,514	+1.0pp $-2,844

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$8,820
Total (2 units)			$8,820

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: $312,500
• Closing costs: $37,500
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 SW 3rd St #12 Miami, FL	3.0	3.5	2418	$18,000	$7.44	5d	1	0.74mi
1000 Brickell Plz Miami, FL	3.0–6.0	3.5–5.5	3486	$31,333	$8.99	25d	2	1.04mi
1000 Brickell Plz Miami, FL	3.0–6.0	3.5–5.5	3692	$29,867	$8.09	12d	2	1.04mi
1000 Brickell Plz Miami, FL	3.0–6.0	4.5–5.5	3795	$28,667	$7.55	4d	2	1.04mi
200 Biscayne Boulevard Way #5001 Miami, FL	3.0	3.5	2457	$20,000	$8.14	25d	1	1.12mi
300 Biscayne Boulevard Way Unit 1902E Miami, FL	3.0	3.5	2220	$18,000	$8.11	4d	1	1.22mi
300 Biscayne Boulevard Way Unit 4502E Miami, FL	3.0	3.5	2220	$25,000	$11.26	21d	1	1.22mi
300 Biscayne Boulevard Way #2306 Miami, FL	3.0	3.0	1600	$19,000	$11.88	13d	1	1.22mi
300 Biscayne Boulevard Way Unit 2802E Miami, FL	3.0	3.5	2220	$21,000	$9.46	25d	1	1.22mi
300 Biscayne Boulevard Way Unit 4007W Miami, FL	3.0	3.0	2126	$19,000	$8.94	25d	1	1.22mi
1040 Biscayne Blvd Miami, FL	3.0	3.5	2581	$19,500	$7.56	25d	1	1.35mi
1100 Biscayne Blvd #6104 Miami, FL	3.0	2.5	2731	$18,000	$6.59	25d	1	1.39mi

Listing history 16 events

1. 2026-06-21
   days on market $1,250,000 Active 124 DOM
2. 2026-06-18
   days on market $1,250,000 Active 121 DOM
3. 2026-06-17
   days on market $1,250,000 Active 120 DOM
4. 2026-06-16
   days on market $1,250,000 Active 119 DOM
5. 2026-06-15
   days on market $1,250,000 Active 118 DOM
6. 2026-06-13
   days on market $1,250,000 Active 116 DOM
7. 2026-06-09
   days on market $1,250,000 Active 112 DOM
8. 2026-06-08
   days on market $1,250,000 Active 111 DOM
9. 2026-06-07
   days on market $1,250,000 Active 110 DOM
10. 2026-06-04
    days on market $1,250,000 Active 107 DOM
11. 2026-06-03
    days on market $1,250,000 Active 106 DOM
12. 2026-06-02
    days on market $1,250,000 Active 105 DOM
13. 2026-06-01
    days on market $1,250,000 Active 104 DOM
14. 2026-05-31
    days on market $1,250,000 Active 103 DOM
15. 2026-02-17
    listed $1,250,000 Active
16. 1986-08-01
    soldstatus $85,000

ⓘ 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: $19,865 · $1,655/mo
• Projected year-2 tax: $19,865 · $1,655/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 · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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: $105,840
• − Mortgage interest: −$70,019
• − Property taxes: −$19,865
• − Insurance: −$11,368
• − Repairs & maintenance: −$8,467
• − Management: −$8,467
• − Depreciation: −$36,364
• Taxable loss: −$48,711
• Est. tax savings @ 24.0%: +$11,691
• After-tax cash flow: $-14,591/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): 34,964
• Household income: $61,009
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 5231.0

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 (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 44% White 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 24% Dominican 4%
• Common ancestry: Romanian 2% Estonian 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, Guatemala
• Languages at home: 23% English-only · Spanish 70% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -1.79%
• Current HPI: 344.7752
• Rent YoY: ▼ -0.53%
• 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

+1370.6% since first listed

2 events — show timeline

• 2026-02-17 Listed $1,250,000 MARMLS
• 1986-08-01 Sold (Public Records) $85,000 Public Records

Property tax history

+16.2%/yr

Latest (2025): $19,865 · +13.0% YoY. Source: county tax records.