541 NE 62nd St #13 · Miami, FL
Flood risk 4/10 · Minor
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.14%
- Est. flood insurance / yr
- $507 – $1,088
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $947 – $1,759
Heat risk 10/10 · Severe
- Hot days now (above 103°F)
- 7 days/yr
- Hot days in 30 yrs
- 29 days/yr
Wind risk 10/10 · Severe
- Chance of severe wind over 30 yrs
- 99.0%
Air-quality risk 2/10 · Minimal
- Unhealthy air days now
- 1 days/yr
- Unhealthy air days in 30 yrs
- 1 days/yr
Risk factors via First Street. Map © Google.
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 +14.7/15.0
- Cash flow +11.4/30.0
- 1% rule +6.4/10.0
- Condition / age +4.0/5.0
- Livability +3.9/5.0
- DSCR +3.3/10.0
- Schools +3.0/10.0
- Rent growth +2.6/5.0
- Appreciation +0.0/10.0
$214,900
541 NE 62nd St #13 · Miami, FL 33138
1 bd · 1.0 ba · 613 sqft · Condo
· 120 Days on market
Built 1947
$351/sqft
· 16% below area
Est $256k · 16% under
$525/mo HOA · 21% of rent
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks MLS
Spacious corner unit condo. Stainless steal appliances, central AC, no carpet, 2 large closets inside master bedroom. Close to parks and shops. Walk to Starbucks to get your morning coffee. Investor friendly, unit is rented unit Feb. 2021.
Key facts
- Custom cabinetry
- Quartz countertops
- Open-concept kitchen
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 1-bed/1.0-bath condo listed at $215k. Condition is rated good.
Deal economics
- At list price, monthly cash flow is $-73 ($-880/yr) — negative.
- To cash-flow at today's rent, offer at most $204k (4.9% below list).
- Meets the 1% rule at list price ($2k rent vs $215k).
- Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
- Cap rate 5.9% vs local median 1.4% 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: Morningside K-8 Academy (math 38% / reading 52%, grade D-, #1,271 of 2,144 statewide, top 60%, 415 students, 69% FRL); Horace Mann Middle School (math 23% / reading 31%, grade F, #497 of 571 statewide, top 88%, 528 students, 76% FRL); Miami Edison Senior High School (math 19% / reading 15%, grade F, #597 of 667 statewide, top 90%, 623 students, 72% FRL).
- Zoned-school proficiency averages 30% at this address vs 50% district-wide (-20 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 flat; 478 active listings in the ZIP; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 120 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
- 5 sale attempts since 8y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
- Current owner paid $134k; list at $215k implies a 60% gain — meaningful room to come down on a strong offer.
Risks & watch-outs
- Watch-outs: HOA is 21% of rent; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
- Climate carrying-cost: 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
$195,559
(9.0% below list)
Questions for the listing agent
- 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?
- It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
- Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
- Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- 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?
- 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?
- 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.
- 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.
- 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
- 1.14% ✓
- Cap rate
- 5.88%
- Cash-on-cash
- -1.46%
- DSCR
- 0.93
- GRM
- 7.3
CMA / ARV
- ARV (median comp)
- $255,751
- List price
- $214,900
- Delta
- -15.97%
- Verdict
- UNDERPRICED
- Comps
- 14 within 1.0 mi
Show comp detail 10 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 652 NE 63rd St #305 | 0.15mi | 1/1.0 | 716 (+17%) | 24mo | $300,000 | $419 | 49 |
| 652 NE 63rd St #105 | 0.15mi | 1/1.0 | 716 (+17%) | 29mo | $285,000 | $398 | 48 |
| 680 NE 64th St Unit A306 | 0.21mi | 1/1.0 | 723 (+18%) | 29mo | $277,000 | $383 | 45 |
| 7795 NE Bayshore Ct #501 | 1.16mi | 1/1.0 | 653 (+6%) | 11mo | $110,000 | $168 | 45 |
| 7845 NE Bayshore Ct #9 | 1.20mi | 1/1.0 | 631 (+3%) | 27mo | $215,000 | $341 | 40 |
| 7801 NE 4th Ct #312 | 0.94mi | 1/1.0 | 746 (+22%) | 4mo | $130,000 | $174 | 37 |
| 4250 Biscayne Blvd #1111 | 1.26mi | 1/1.0 | 648 (+6%) | 29mo | $390,000 | $602 | 36 |
| 71 NW 76th St #18 | 1.12mi | 1/1.0 | 568 (-7%) | 28mo | $137,000 | $241 | 33 |
| — | 0.94mi | 1/1.5 | 746 (+22%) | 11mo | $195,000 | $261 | 29 |
| 7801 NE 4th Ct #103 | 0.94mi | 1/1.5 | 746 (+22%) | 16mo | $185,000 | $248 | 25 |
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 · 0.33% rent growth · sell at horizon
5-year hold
- IRR
- -22.7%
- Equity multiple
- 0.24×
- Total profit
- $-45,550
- Equity at exit
- $32,042
10-year hold
- IRR
- -30.6%
- Equity multiple
- -0.15×
- Total profit
- $-69,173
- Equity at exit
- $18,581
Cash invested: $60,172 (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.
Active competition Active MLS
- For sale now
- 4 active · 1 under contract
- Median asking
- $254,500 ($402/sqft)
- Median days on market
- 64 d
- This list price
- 50% of active listings are priced below it
- ARV vs active asking
- +3.7% vs current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 33138
- Rents YoY
- 0.3%
- Active inventory
- 478
- Price-to-rent
- 7.3×
Monthly cashflow live
↻
- Estimated rent
- $2,452 medium interval (Pro) →
- Mortgage (P&I)
- −$1,127
- Tax est. 1.5%
- −$269 /mo · $3,224/yr
- Insurance
- −$90
- HOA
- −$525
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$515
- Net cashflow
- $-73
Break-even live
Break-even rent
$2,544
Max offer price
$204,287
Occupancy floor
98%
Sensitivity live
| Price | -10% $75 | -5% $1 | +0% $-73 | +5% $-148 | +10% $-222 |
|---|---|---|---|---|---|
| Rent | -10% $-267 | -5% $-170 | +0% $-73 | +5% $23 | +10% $120 |
| Rate | -1.0pp $35 | -0.5pp $-19 | base $-73 | +0.5pp $-129 | +1.0pp $-186 |
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
- $53,725
- Closing costs
- $6,447
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Property features AI
Finance
- Financial info
- Pets allowed with restrictions
- HOA & community
- Monthly association fee of $525Association covers management, common areas, insurance, legal/accounting, grounds maintenance, structure maintenance, reserve fund, roof, and trashCommunity of 16 units
Exterior
- Parking
- On-street parking
- Security
- Phone entryCommunity fenced
- Utilities
- Electric serviceCentral air conditioningElectric heatingElectric water heater
- Home design
- 2 storiesEntry on level 2Faces southAttached propertyUpdated/remodeled
- Construction
- Block constructionResale property
- Exterior features
- BalconyOpen balconyFenceExterior lightingComplex fencedPhone entry
Interior
- Kitchen
- DishwasherElectric rangeMicrowaveIcemakerRefrigeratorKitchen islandKitchen/dining combo
- Bedrooms
- Bedroom on main level
- Bathrooms
- 1 full bathroom
- Heating & cooling
- Central heating (electric)Central air conditioning (electric)
- Interior features
- BlindsBuilt-in featuresSecond floor entryKitchen islandKitchen/dining comboLiving/dining room
- Laundry & utility
- WasherDryerElectric water heater
HOA detail $525/mo · $6,300/yr condo
- Assessments
- None detected in remarks — confirm with the listing agent.
Listing history 50 events
-
2026-08-08days on market $214,900 Active 120 DOM
-
2026-08-06days on market $214,900 Active 118 DOM
-
2026-08-05days on market $214,900 Active 117 DOM
-
2026-08-04days on market $214,900 Active 116 DOM
-
2026-08-03days on market $214,900 Active 115 DOM
-
2026-07-31days on market $214,900 Active 112 DOM
-
2026-07-28days on market $214,900 Active 109 DOM
-
2026-07-24days on market $214,900 Active 105 DOM
-
2026-07-23pricedays on market $214,900 Active 104 DOM
-
2026-07-22days on market $220,000 Active 103 DOM
-
2026-07-20days on market $220,000 Active 101 DOM
-
2026-07-18days on market $220,000 Active 99 DOM
-
2026-07-16days on market $220,000 Active 97 DOM
-
2026-07-15days on market $220,000 Active 96 DOM
-
2026-07-13days on market $220,000 Active 94 DOM
-
2026-07-13days on market $220,000 Active 93 DOM
-
2026-07-11days on market $220,000 Active 92 DOM
-
2026-07-10days on market $220,000 Active 91 DOM
-
2026-07-09days on market $220,000 Active 90 DOM
-
2026-07-07days on market $220,000 Active 88 DOM
-
2026-07-06days on market $220,000 Active 87 DOM
-
2026-07-06days on market $220,000 Active 86 DOM
-
2026-07-05days on market $220,000 Active 85 DOM
-
2026-07-03days on market $220,000 Active 84 DOM
-
2026-07-02days on market $220,000 Active 83 DOM
-
2026-07-01days on market $220,000 Active 82 DOM
-
2026-06-30days on market $220,000 Active 81 DOM
-
2026-06-29days on market $220,000 Active 80 DOM
-
2026-06-28days on market $220,000 Active 79 DOM
-
2026-06-27days on market $220,000 Active 78 DOM
-
2026-06-26days on market $220,000 Active 77 DOM
-
2026-06-24days on market $220,000 Active 75 DOM
-
2026-06-22days on market $220,000 Active 73 DOM
-
2026-06-21days on market $220,000 Active 72 DOM
-
2026-06-18days on market $220,000 Active 69 DOM
-
2026-06-18price $220,000 Active 68 DOM
-
2026-06-17days on market $230,000 Active 68 DOM
-
2026-06-16days on market $230,000 Active 67 DOM
-
2026-06-15days on market $230,000 Active 66 DOM
-
2026-06-13days on market $230,000 Active 64 DOM
-
2026-06-09days on market $230,000 Active 60 DOM
-
2026-06-08days on market $230,000 Active 59 DOM
-
2026-06-07days on market $230,000 Active 58 DOM
-
2026-06-04days on market $230,000 Active 55 DOM
-
2026-06-03days on market $230,000 Active 54 DOM
-
2026-06-02days on market $230,000 Active 53 DOM
-
2026-06-01days on market $230,000 Active 52 DOM
-
2026-05-31days on market $230,000 Active 51 DOM
-
2026-05-04status Active
-
2026-04-08$230,000 Active
ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot
backfill from property_details.listing_events for pre-trigger history.
Climate risk First Street
- Flood 4/10 Moderate FEMA zone X (unshaded) · 14% 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
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $29,419
- − Mortgage interest
- −$12,038
- − Property taxes
- −$3,224
- − Insurance
- −$1,074
- − Repairs & maintenance
- −$2,354
- − Management
- −$2,354
- − HOA
- −$6,300
- − Depreciation
- −$6,252
- Taxable loss
- −$4,175
combined federal + state — saved on this device
- Est. tax savings @ 24.0%
- +$1,002
- After-tax cash flow
- $122/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.
Condition & rehab AI · 12 photos
80/100
Cosmetic rehab
Est. rehab $3,065–$9,195 screening
This fully renovated and move-in-ready condo in the heart of Miami's MiMo District offers a sleek, contemporary aesthetic with modern finishes and a prime location.
Value-add opportunities
- Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑
- Both Painting exterior walls — Fresh paint can make the property look more appealing and increase its value. ↑
- Both Upgrading window treatments — Modern window treatments can improve the aesthetic and energy efficiency of the home. ↑
ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
F
Composite school gradezoned avg 30/100
Zoned Schools
Elementary
Morningside K-8 Academy
D-
FL #1,271/2,144
Nat'l #15,897/41,679
Middle
Horace Mann Middle School
F
FL #497/571
Nat'l #9,793/14,009
High
Miami Edison Senior High School
F
FL #597/667
Nat'l #15,029/17,239
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
B
Composite livability gradescore 78/100
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 · 3,126,439 people
- City population
- 827,308
- Metro
- Miami-Fort Lauderdale-Pompano Beach, FL
- Population (ZIP)
- 28,980
- Household income
- $75,051
- Rent vs Own
- Severe rent burden
- 16% of renters
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
- Highly diverse neighborhood (Simpson 0.70)
- Race & ethnicity
- Hispanic / Latino 36% White 29% Black 29% Two or more races 21% Asian 1%
- Hispanic origin (detail)
- Puerto Rican 3% Cuban 11% Dominican 2% Salvadoran 3%
- Common ancestry
- Hispanic 16% Estonian 2% Lithuanian 2%
- Foreign-born
- 41% · Canada, Jamaica, Dominican Republic
- Languages at home
- 36% English-only · Spanish 39% French/Haitian/Cajun 19% 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
- ▼ -890.01%
- Current HPI
- 551.4791
- Rent YoY
- ▲ 0.33%
- 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 |
|
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| Technology Manufacturing | 1 | $35B |
|
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Price history
+22.9% since first listed13 events — show timeline
- 2026-06-17 Price Changed $220,000 MARMLS
- 2026-05-04 Relisted — MARMLS
- 2026-04-08 Listed $230,000 MARMLS
- 2021-03-15 Sold (MLS) $134,000 MARMLS
- 2021-02-08 Pending — MARMLS
- 2020-08-14 Listed $138,000 MARMLS
- 2020-08-12 Listing Removed — MARMLS
- 2020-03-10 Listed $153,000 MARMLS
- 2019-06-10 Listing Removed — MARMLS
- 2018-10-09 Price Changed $160,000 MARMLS
- 2018-09-24 Listed $169,000 MARMLS
- 2009-06-30 Sold (MLS) $39,500 MARMLS
- 2007-02-13 Sold (MLS) $179,000 MARMLS
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…