1005 NE 145th St · North Miami, FL 33161

$390,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 58 Days on market

Built 1952 7,740 sqft lot Est $524k · 26% under

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Why this score? — see what drove the B- 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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.6/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

LOCATION, LOCATION, LOCATION. THE CHEAPEST HOUSE IN THE POINCIANNA MANOR SUBDIVISION. FIX AND FLIP, FIRST TIME HOME BUY OR SMALL INVESTORS, ALL ARE WELCOMED

Key facts

• 7,740 sq ft lot
• Parking
• Built 1952

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story; Faces south; Resale property
• Construction: Block construction; Flat roof
• Exterior features: Less than quarter acre lot

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Hardwood; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First floor entry; Bedroom on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $390k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $390k).
• Recommended offer: $378k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.1% in North 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, employment D.
• 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 (-0.7%/yr); 338 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,515/mo this rent would consume 93% of the median local household income ($58k/yr) (locally 3226% 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 $3k of loan paydown is wiped out by about $12k 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 58 days — a 3% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $35k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $265k; 47% 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 1952 — 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $378,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $524,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1221 NE 147th St	0.30mi	2/1.0 (-1)	897 (-10%)	24mo	$470,000	$524	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.46×
• Total profit: $-58,996
• Equity at exit: $58,150

10-year hold

• IRR: -15.2%
• Equity multiple: 0.28×
• Total profit: $-78,842
• Equity at exit: $33,720

Cash invested: $109,200 (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 33161

• Rents YoY: -0.7%
• Active inventory: 338
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $4,515 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$666 /mo · $7,992/yr
• Insurance: −$162
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$948
• Net cashflow: $267

Break-even live

Break-even rent $4,178

Max offer price $390,000

Occupancy floor 89%

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-01
   status Pending
2. 2026-04-10
   status Active
3. 2026-03-25
   status Pending
4. 2026-03-22
   price $390,000
5. 2026-02-25
   price $420,000
6. 2026-02-17
   listed $425,000 Active
7. 2025-08-08
   historical
8. 2025-04-16
   listed $385,000 Active
9. 2024-03-22
   historical
10. 2024-03-10
    listed $420,000 Active
11. 2012-03-29
    listed $105,000
12. 2006-03-27
    soldstatus $265,000
13. 2005-03-09
    listed $270,000
14. 2003-09-13
    soldstatus $124,900
15. 1995-09-29
    soldstatus $67,000
16. 1980-10-01
    soldstatus $55,000

ⓘ 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: $7,992 · $666/mo
• Projected year-2 tax: $7,992 · $666/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 · 51% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,183
• − Mortgage interest: −$21,846
• − Property taxes: −$7,992
• − Insurance: −$7,069
• − Repairs & maintenance: −$4,335
• − Management: −$4,335
• − Depreciation: −$11,345
• Taxable loss: −$2,738
• Est. tax savings @ 24.0%: +$657
• After-tax cash flow: $3,859/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 — North Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% Other Indo-European 2%

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: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• 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

+609.1% since first listed

16 events — show timeline

• 2026-05-01 Pending — MARMLS
• 2026-04-10 Relisted — MARMLS
• 2026-03-25 Pending — MARMLS
• 2026-03-22 Price Changed $390,000 MARMLS
• 2026-02-25 Price Changed $420,000 MARMLS
• 2026-02-17 Listed $425,000 MARMLS
• 2025-08-08 Listing Removed — MARMLS
• 2025-04-16 Listed $385,000 MARMLS
• 2024-03-22 Listing Removed — MARMLS
• 2024-03-10 Listed $420,000 MARMLS
• 2012-03-29 Listed $105,000 MARMLS
• 2006-03-27 Sold (Public Records) $265,000 Public Records
• 2005-03-09 Listed $270,000 MARMLS
• 2003-09-13 Sold (Public Records) $124,900 Public Records
• 1995-09-29 Sold (Public Records) $67,000 Public Records
• 1980-10-01 Sold (Public Records) $55,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $7,992 · +68.9% YoY. Source: county tax records.