1680 NW 22nd Ct · Miami, FL 33125

$1,100,000

5 bd · 3.0 ba · 3,264 sqft · MultiFamily public records · 68 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).

• Cash flow +15.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +4.2/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Income-producing duplex currently configured as a triplex in the Allapattah area. Property features approximately 3,200 sq. ft. of living space on a 7,000 sq. ft. fully fenced lot with parking for 6+ vehicles. Unit mix consists of two 1-bedroom/1-bath units and one 4-bedroom/3-bath unit. Property has been updated with a new roof, impact windows and doors, updated kitchens and bathrooms, and new plumbing. Includes two electric meters and one water meter, connected to sewer. Strong in-place rental income exceeding $10,000/month with potential for additional upside. Flexible layout allows for multiple rental strategies. Opportunity to explore adding an additional unit (buyer to verify with mun

Key facts

• 6 parking spots
• Built 1924
• Listed 68 days

Property features AI

Finance

• Other: Property marketed with a virtual tour
• Financial info: Current rents reported by unit: $2,425; $2,150; $6,000 (unit-level actual rents provided); Some tenant utilities included: electricity, gas, hot water, cable TV, gardener

Exterior

• Parking: Total of 6 parking spaces; Carport parking for units
• Utilities: Public water; Public sewer; Cable available
• Home design: Two-story building; Mixed flat and tile roofing
• Construction: Concrete block construction; Effective year built reported
• Exterior features: Less than quarter-acre lot

Interior

• Kitchen: Kitchens included in units
• Bedrooms: Three 1-bedroom units; One 4-bedroom unit (hotel-room type)
• Bathrooms: Three 1-bath units; One unit with 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans; Electric cooling components
• Interior features: Month-to-month leases available for units; Furnished units
• Laundry & utility: Utilities for some units include electricity and hot water

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $-13 ($-152/yr) — negative. Per door: $-6/mo.
• To cash-flow at today's rent, offer at most $1.10M (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $996k (9.4% below list).
• Recommended offer: $996k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Zoned schools: Comstock Elementary School (math 30% / reading 33%, grade F, #1,841 of 2,144 statewide, top 86%, 573 students, 64% FRL); Brownsville Middle School (math 13% / reading 19%, grade F, #565 of 571 statewide, top 99%, 487 students, 71% FRL); Miami Jackson Senior High School (math 13% / reading 22%, grade F, #575 of 667 statewide, top 86%, 1,305 students, 62% FRL) — zoned schools at 66% FRL track the district average.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 soft (-1.4%/yr); 241 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 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 $8k of loan paydown is wiped out by about $33k 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 68 days — a 6% lower offer ($1.03M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $100k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $950k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 4→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $996,200 (9.4% 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 68 days. Have you received any prior offers? Is the seller open to a 9% 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 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 0.91% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 9.2

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: -19.9%
• Equity multiple: 0.32×
• Total profit: $-207,924
• Equity at exit: $164,014

10-year hold

• IRR: -21.5%
• Equity multiple: 0.05×
• Total profit: $-293,607
• Equity at exit: $95,108

Cash invested: $308,000 (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 33125

• Rents YoY: -1.4%
• Active inventory: 241
• Price-to-rent: 18.4×

Monthly cashflow live

• Estimated rent: $9,962 medium
• Mortgage (P&I): −$5,769
• Tax from tax record: −$1,229 /mo · $14,751/yr
• Insurance: −$458
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,092
• Net cashflow: $-13

Break-even live

Break-even rent $9,978

Max offer price $1,097,768

Occupancy floor 95%

Sensitivity live

Price	-10% $610	-5% $299	+0% $-13	+5% $-324	+10% $-635
Rent	-10% $-800	-5% $-406	+0% $-13	+5% $381	+10% $774
Rate	-1.0pp $541	-0.5pp $267	base $-13	+0.5pp $-298	+1.0pp $-588

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$9,962
Total (2 units)			$9,962

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2951 NW 13th St Unit 1399868P Miami, FL	4.0–8.0	3.5–6.0	3745	$14,816	$3.96	9d	2	0.79mi

Listing history 41 events

1. 2026-06-21
   days on market $1,100,000 Active 68 DOM
2. 2026-06-18
   days on market $1,100,000 Active 65 DOM
3. 2026-06-17
   days on market $1,100,000 Active 64 DOM
4. 2026-06-16
   days on market $1,100,000 Active 63 DOM
5. 2026-06-15
   days on market $1,100,000 Active 62 DOM
6. 2026-06-13
   days on market $1,100,000 Active 60 DOM
7. 2026-06-09
   days on market $1,100,000 Active 56 DOM
8. 2026-06-08
   days on market $1,100,000 Active 55 DOM
9. 2026-06-07
   days on market $1,100,000 Active 54 DOM
10. 2026-06-04
    days on market $1,100,000 Active 51 DOM
11. 2026-06-03
    days on market $1,100,000 Active 50 DOM
12. 2026-06-02
    days on market $1,100,000 Active 49 DOM
13. 2026-06-01
    days on market $1,100,000 Active 48 DOM
14. 2026-05-31
    days on market $1,100,000 Active 47 DOM
15. 2026-04-28
    price $1,100,000
16. 2026-04-14
    listed $1,200,000 Active
17. 2026-04-14
    historical
18. 2026-02-13
    price $1,200,000
19. 2026-02-12
    listed $110,000 Active
20. 2026-02-12
    historical
21. 2026-01-26
    price $1,185,000
22. 2026-01-11
    price $1,195,000
23. 2026-01-07
    price $1,196,000
24. 2025-12-17
    price $1,197,000
25. 2025-12-12
    price $1,198,000
26. 2025-11-24
    price $1,199,000
27. 2025-09-28
    listed $1,200,000 Active
28. 2025-09-27
    historical
29. 2025-09-26
    status Active
30. 2025-09-25
    listed $1,200,000 Active
31. 2023-08-14
    soldstatus $950,000
32. 2016-04-05
    historical
33. 2015-12-18
    soldstatus $279,000
34. 2015-12-11
    price $299,000
35. 2015-11-16
    listed $309,000 Active
36. 2015-11-09
    soldstatus $188,500
37. 2004-05-07
    soldstatus $220,000
38. 2002-04-12
    soldstatus $138,000
39. 1994-03-03
    soldstatus $75,000
40. 1990-06-07
    soldstatus $78,000
41. 1978-09-01
    soldstatus $18,000

ⓘ 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: $14,751 · $1,229/mo
• Projected year-2 tax: $14,751 · $1,229/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 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 4 d/yr ≥104°F today · 15 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: $119,544
• − Mortgage interest: −$61,617
• − Property taxes: −$14,751
• − Insurance: −$10,618
• − Repairs & maintenance: −$9,564
• − Management: −$9,564
• − Depreciation: −$32,000
• Taxable loss: −$18,569
• Est. tax savings @ 24.0%: +$4,457
• After-tax cash flow: $4,305/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): 56,897
• Household income: $44,979
• Rent vs Own: 74.0% rent · 26.0% own
• Severe rent burden: 5223.0

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 (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 52% White 4% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 46% Dominican 3% Salvadoran 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 68% · Canada, Jamaica, Dominican Republic
• Languages at home: 9% English-only · Spanish 90%

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: ▼ -402.98%
• Current HPI: 476.1631
• Rent YoY: ▼ -1.39%
• 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

+6011.1% since first listed

27 events — show timeline

• 2026-04-28 Price Changed $1,100,000 MARMLS
• 2026-04-14 Listing Removed — MARMLS
• 2026-04-14 Listed $1,200,000 MARMLS
• 2026-02-13 Price Changed $1,200,000 MARMLS
• 2026-02-12 Listing Removed — MARMLS
• 2026-02-12 Listed $110,000 MARMLS
• 2026-01-26 Price Changed $1,185,000 MARMLS
• 2026-01-11 Price Changed $1,195,000 MARMLS
• 2026-01-07 Price Changed $1,196,000 MARMLS
• 2025-12-17 Price Changed $1,197,000 MARMLS
• 2025-12-12 Price Changed $1,198,000 MARMLS
• 2025-11-24 Price Changed $1,199,000 MARMLS
• 2025-09-28 Listed $1,200,000 MARMLS
• 2025-09-27 Listing Removed — MARMLS
• 2025-09-26 Relisted — MARMLS
• 2025-09-25 Listed $1,200,000 MARMLS
• 2023-08-14 Sold (Public Records) $950,000 Public Records
• 2016-04-05 Listing Removed — MARMLS
• 2015-12-18 Sold (Public Records) $279,000 Public Records
• 2015-12-11 Price Changed $299,000 MARMLS
• 2015-11-16 Listed $309,000 MARMLS
• 2015-11-09 Sold (Public Records) $188,500 Public Records
• 2004-05-07 Sold (Public Records) $220,000 Public Records
• 2002-04-12 Sold (Public Records) $138,000 Public Records
• 1994-03-03 Sold (Public Records) $75,000 Public Records
• 1990-06-07 Sold (Public Records) $78,000 Public Records
• 1978-09-01 Sold (Public Records) $18,000 Public Records

Property tax history

+10.0%/yr

Latest (2025): $14,751 · +6.2% YoY. Source: county tax records.