1061 NW 108 Ter · Pinewood, FL 33168

$749,000

4 bd · 2.0 ba · 2,355 sqft · MultiFamily public records · 105 Days on market

Built 1959

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Why this score? — see what drove the C- 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 +19.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Hot incoming Producing Property! This property has been completed renovated and is a turn key property to start receiving rental income. Whether you are looking to live in one unit and house hack, or just have a great income producing property in Miami, this is the property for you. The owner has tastefully completed the renovation with a brand new roof, brand new impat windows, brand new water heaters, completely redone plumbing and completely renovated bathrooms and kitchen. With these renovations you will not have any maintenance and receive top income for your property. Schedule your tour today!  PropertyIntroducing a rare triplex offering in the 33168 corridor — two side

Key facts

• Completed renovated
• Brand new roof
• 6 parking spots

Tags

• COMPLETED RENOVATED
• BRAND NEW ROOF
• BRAND NEW IMPACT WINDOWS
• BRAND NEW WATER HEATERS
• COMPLETELY RENOVATED BATHROOMS
• COMPLETELY RENOVATED KITCHEN

Property features AI

Exterior

• Parking: Total of 6 parking spaces (open parking)
• Utilities: Cable available; Public sewer
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Slab foundation; Effective year built
• Exterior features: Open parking available; Quarter- to half-acre lot

Interior

• Kitchen: Range; Refrigerator; Kitchen in each unit
• Bedrooms: One 1-bedroom unit; Two 2-bedroom units (two separate units)
• Flooring: Vinyl flooring
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Central heating; Central air conditioning; Air conditioning units in units
• Interior features: Impact glass windows; Family room; Smoke detector
• Laundry & utility: Electric meter; Circuit breaker

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.7-bath units multifamily listed at $749k.

Deal economics

• At list price, monthly cash flow is $820 ($10k/yr) — positive. Per door: $273/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $723k (3.4% below list).
• Recommended offer: $682k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#124 in FL, #1,871 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, cost of living A; Watch: employment D, amenities 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: 128 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $7,234/mo this rent would consume 132% of the median local household income ($66k/yr) (locally 450% 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 $5k 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 105 days — a 9% lower offer ($682k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $80k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $450k; list at $749k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $681,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% 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 1959 — 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. 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. 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: 0.97% ✗
• Cap rate: 7.61%
• Cash-on-cash: 4.69%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-69,200
• Equity at exit: $111,678

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $6,742
• Equity at exit: $64,760

Cash invested: $209,720 (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 33168

• Home prices YoY: -33.9%
• Active inventory: 128
• Price-to-rent: 25.9×

Monthly cashflow live

• Estimated rent: $7,234 medium
• Mortgage (P&I): −$3,928
• Tax from tax record: −$655 /mo · $7,858/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,519
• Net cashflow: $820

Break-even live

Break-even rent $6,196

Max offer price $749,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.7	$7,233
Total (3 units)			$7,234

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: $187,250
• Closing costs: $22,470
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $749,000 Active 105 DOM
2. 2026-06-17
   days on market $749,000 Active 104 DOM
3. 2026-06-16
   days on market $749,000 Active 103 DOM
4. 2026-06-15
   days on market $749,000 Active 102 DOM
5. 2026-06-13
   days on market $749,000 Active 100 DOM
6. 2026-06-09
   days on market $749,000 Active 96 DOM
7. 2026-06-08
   days on market $749,000 Active 95 DOM
8. 2026-06-07
   days on market $749,000 Active 94 DOM
9. 2026-06-04
   days on market $749,000 Active 91 DOM
10. 2026-06-03
    days on market $749,000 Active 90 DOM
11. 2026-06-02
    days on market $749,000 Active 89 DOM
12. 2026-06-01
    days on market $749,000 Active 88 DOM
13. 2026-05-31
    days on market $749,000 Active 87 DOM
14. 2026-04-26
    price $749,000
15. 2026-04-21
    status Active
16. 2026-04-21
    price $779,000
17. 2026-03-29
    historical Active Under Contract
18. 2026-03-15
    price $799,000
19. 2026-03-05
    listed $829,000 Active
20. 2026-01-08
    soldstatus $450,000
21. 1979-03-01
    soldstatus $47,000

ⓘ 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: $7,858 · $655/mo
• Projected year-2 tax: $7,858 · $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 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $86,808
• − Mortgage interest: −$41,956
• − Property taxes: −$7,858
• − Insurance: −$3,745
• − Repairs & maintenance: −$6,945
• − Management: −$6,945
• − Depreciation: −$21,789
• Taxable loss: −$2,429
• Est. tax savings @ 24.0%: +$583
• After-tax cash flow: $10,424/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 — Pinewood

• Score: 80/100
• State rank: #124
• US rank: #1871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pinewood, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 23,775
• Household income: $65,777
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 450.0

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 Black (67%)
• Race & ethnicity: Black 67% Hispanic / Latino 26% Two or more races 12% White 4%
• Hispanic origin (detail): Puerto Rican 3% Cuban 6% Dominican 3%
• Common ancestry: Hispanic 43%
• Foreign-born: 48% · Canada, Jamaica, Dominican Republic
• Languages at home: 27% English-only · French/Haitian/Cajun 46% Spanish 26%

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: ▼ -253.88%
• Current HPI: 495.6262
• Rent YoY: —
• 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

+1493.6% since first listed

8 events — show timeline

• 2026-04-26 Price Changed $749,000 MARMLS
• 2026-04-21 Relisted — MARMLS
• 2026-04-21 Price Changed $779,000 MARMLS
• 2026-03-29 Contingent — MARMLS
• 2026-03-15 Price Changed $799,000 MARMLS
• 2026-03-05 Listed $829,000 MARMLS
• 2026-01-08 Sold (Public Records) $450,000 Public Records
• 1979-03-01 Sold (Public Records) $47,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $7,858 · +4.0% YoY. Source: county tax records.