541 NE 62nd St #13 · Miami, FL 33138

$214,900

1 bd · 1.0 ba · 613 sqft · Condo · 147 Days on market

Built 1947 Good condition $351/sqft · 18% below area Est $262k · 18% under $525/mo HOA · 19% of rent

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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 +19.0/30.0
• ARV discount +15.0/15.0
• 1% rule +8.2/10.0
• DSCR +6.0/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

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

• FULLY RENOVATED RESIDENCE
• ELEGANT PORCELAIN FLOORING
• CUSTOM CABINETRY
• OPEN-CONCEPT KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

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 $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 521 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 147 days — a 12% lower offer ($189k) 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: 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 $189,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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.
10. 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.
11. 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: 1.32% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.48%
• DSCR: 1.20
• GRM: 6.3

CMA / ARV

• ARV (median comp): $261,704
• List price: $214,900
• Delta: -17.88%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5573 NE 3rd Ave	0.53mi	1/1.0	544 (-11%)	1mo	$285,000	$524	55
652 NE 63rd St #305	0.15mi	1/1.0	716 (+17%)	25mo	$300,000	$419	48
652 NE 63rd St #105	0.15mi	1/1.0	716 (+17%)	30mo	$285,000	$398	48
70 NW 77th St #9	1.13mi	1/1.0	551 (-10%)	0mo	$120,000	$218	48
680 NE 64th St Unit A306	0.21mi	1/1.0	723 (+18%)	31mo	$277,000	$383	45
7795 NE Bayshore Ct #501	1.16mi	1/1.0	653 (+6%)	13mo	$110,000	$168	43
7845 NE Bayshore Ct #9	1.20mi	1/1.0	631 (+3%)	28mo	$215,000	$341	40
7801 NE 4th Ct #312	0.94mi	1/1.0	746 (+22%)	5mo	$130,000	$174	36
4250 Biscayne Blvd #1111	1.26mi	1/1.0	648 (+6%)	31mo	$390,000	$602	36
71 NW 76th St #18	1.12mi	1/1.0	568 (-7%)	29mo	$137,000	$241	33
—	0.94mi	1/1.5	746 (+22%)	12mo	$195,000	$261	28
7801 NE 4th Ct #103	0.94mi	1/1.5	746 (+22%)	17mo	$185,000	$248	24

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: -13.1%
• Equity multiple: 0.54×
• Total profit: $-27,539
• Equity at exit: $32,042

10-year hold

• IRR: -10.7%
• Equity multiple: 0.45×
• Total profit: $-32,853
• 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.

Methodology + full state rankings →

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: +6.1% 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: 521
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,829 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,224/yr
• Insurance: −$90
• HOA: −$525
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $225

Break-even live

Break-even rent $2,544

Max offer price $214,900

Occupancy floor 87%

Sensitivity live

Price	-10% $373	-5% $299	+0% $225	+5% $151	+10% $76
Rent	-10% $1	-5% $113	+0% $225	+5% $337	+10% $448
Rate	-1.0pp $333	-0.5pp $280	base $225	+0.5pp $169	+1.0pp $113

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: —

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

1. 2026-09-04
   days on market $214,900 Active 147 DOM
2. 2026-08-31
   days on market $214,900 Active 143 DOM
3. 2026-08-29
   days on market $214,900 Active 141 DOM
4. 2026-08-28
   days on market $214,900 Active 140 DOM
5. 2026-08-27
   days on market $214,900 Active 139 DOM
6. 2026-08-26
   days on market $214,900 Active 138 DOM
7. 2026-08-25
   days on market $214,900 Active 137 DOM
8. 2026-08-23
   days on market $214,900 Active 135 DOM
9. 2026-08-22
   days on market $214,900 Active 134 DOM
10. 2026-08-21
    days on market $214,900 Active 133 DOM
11. 2026-08-20
    days on market $214,900 Active 132 DOM
12. 2026-08-19
    days on market $214,900 Active 131 DOM
13. 2026-08-18
    days on market $214,900 Active 130 DOM
14. 2026-08-16
    days on market $214,900 Active 128 DOM
15. 2026-08-15
    days on market $214,900 Active 127 DOM
16. 2026-08-14
    days on market $214,900 Active 126 DOM
17. 2026-08-13
    days on market $214,900 Active 125 DOM
18. 2026-08-12
    days on market $214,900 Active 124 DOM
19. 2026-08-11
    days on market $214,900 Active 123 DOM
20. 2026-08-10
    days on market $214,900 Active 122 DOM
21. 2026-08-09
    days on market $214,900 Active 121 DOM
22. 2026-08-08
    days on market $214,900 Active 120 DOM
23. 2026-08-06
    days on market $214,900 Active 118 DOM
24. 2026-08-05
    days on market $214,900 Active 117 DOM
25. 2026-08-04
    days on market $214,900 Active 116 DOM
26. 2026-08-03
    days on market $214,900 Active 115 DOM
27. 2026-07-31
    days on market $214,900 Active 112 DOM
28. 2026-07-28
    days on market $214,900 Active 109 DOM
29. 2026-07-24
    days on market $214,900 Active 105 DOM
30. 2026-07-23
    pricedays on market $214,900 Active 104 DOM
31. 2026-07-22
    days on market $220,000 Active 103 DOM
32. 2026-07-20
    days on market $220,000 Active 101 DOM
33. 2026-07-18
    days on market $220,000 Active 99 DOM
34. 2026-07-16
    days on market $220,000 Active 97 DOM
35. 2026-07-15
    days on market $220,000 Active 96 DOM
36. 2026-07-13
    days on market $220,000 Active 94 DOM
37. 2026-07-13
    days on market $220,000 Active 93 DOM
38. 2026-07-11
    days on market $220,000 Active 92 DOM
39. 2026-07-10
    days on market $220,000 Active 91 DOM
40. 2026-07-09
    days on market $220,000 Active 90 DOM
41. 2026-07-07
    days on market $220,000 Active 88 DOM
42. 2026-07-06
    days on market $220,000 Active 87 DOM
43. 2026-07-06
    days on market $220,000 Active 86 DOM
44. 2026-07-05
    days on market $220,000 Active 85 DOM
45. 2026-07-03
    days on market $220,000 Active 84 DOM
46. 2026-07-02
    days on market $220,000 Active 83 DOM
47. 2026-07-01
    days on market $220,000 Active 82 DOM
48. 2026-06-30
    days on market $220,000 Active 81 DOM
49. 2026-06-29
    days on market $220,000 Active 80 DOM
50. 2026-06-28
    days on market $220,000 Active 79 DOM

ⓘ 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

Taxation est. · year 1

• Rental income: $33,949
• − Mortgage interest: −$12,038
• − Property taxes: −$3,224
• − Insurance: −$1,074
• − Repairs & maintenance: −$2,716
• − Management: −$2,716
• − HOA: −$6,300
• − Depreciation: −$6,252
• Taxable loss: −$370
• Est. tax savings @ 24.0%: +$89
• After-tax cash flow: $2,787/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

Good 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: 52.2% rent · 47.8% own
• Severe rent burden: 16% of renters

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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%

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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%

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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

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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

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

Price history

+22.9% since first listed

13 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