149 NW 17th Pl · Miami, FL 33125

$820,000

12 bd · 6.0 ba · 1,880 sqft · MultiFamily · 36 Days on market

Built 1961 Good condition

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• 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: 3 units. confirmed

Listing remarks

Phenomenal Triplex Opportunity in Prime Miami location! Exceptional income-producing property featuring three spacious 2BD/1BA units with 1,890 SF of living area on a 7,500 SF lot. Each unit offers private entrances, separate backyards, assigned parking, and excellent rental appeal. Upgrades include a 2024 roof, impact doors/shutters, remodeled kitchens and bathrooms, and a 2023 A/C compressor in the rear unit. Unit 1 includes W/ D hookups; Units 2 & 3 feature a washer/dryer. Separate electric meters plus a covered indoor patio add convenience. Centrally located near Downtown Miami, Brickell, major highways, and Loan Depot Park. Below-market rents offer excellent upside potential f

Key facts

• Separate backyards
• 2024 roof
• Private entrances

Tags

• TRIPLEX OPPORTUNITY
• INCOME PRODUCING PROPERTY
• PRIVATE ENTRANCES
• SEPARATE BACKYARDS
• ASSIGNED PARKING
• 2024 ROOF

Property features AI

Finance

• Financial info: One unit shows an actual rent of $2,100 and is leased; Other units listed as renting but showing $0 actual rent in data
• HOA & community: On-site laundry facilities

Exterior

• Parking: Total of 3 parking spaces
• Security: Security/high-impact doors
• Utilities: Public sewer; Cable not available
• Home design: Single-story building; Resale property
• Construction: Block construction; Shingle siding; Shingle roof; Built previously (resale)
• Exterior features: Fenced yard; Exterior lighting; Porch; Patio; Security/high-impact doors

Interior

• Kitchen: Kitchen in each unit; Microwave; Range; Refrigerator
• Bedrooms: Multiple 2-bedroom units (each unit listed with 2 bedrooms)
• Flooring: Concrete; Ceramic tile; Tile
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Smoke detectors; Patio/porch access; Laundry room in building; Open porch and patio
• Laundry & utility: Washer and dryer present in some units; Washer/Dryer hookups available; Laundry facilities in the community

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $820k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $4k ($46k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $820k).
• Recommended offer: $795k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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.
• Market conditions: Rents soft (-1.4%/yr); 239 active listings in the ZIP; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $12,050/mo this rent would consume 321% of the median local household income ($45k/yr) (locally 5223% 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 $6k of loan paydown is wiped out by about $25k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $230k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($795k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $795,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% 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 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.47% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.14%
• DSCR: 1.90
• GRM: 5.7

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: 8.9%
• Equity multiple: 1.34×
• Total profit: $77,371
• Equity at exit: $122,265

10-year hold

• IRR: 15.4%
• Equity multiple: 2.08×
• Total profit: $247,602
• Equity at exit: $70,899

Cash invested: $229,600 (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: 239
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $12,050 medium
• Mortgage (P&I): −$4,300
• Tax est. 1.5%: −$1,025 /mo · $12,300/yr
• Insurance: −$342
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,530
• Net cashflow: $3,853

Break-even live

Break-even rent $7,173

Max offer price $820,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$12,051
Total (3 units)			$12,050

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: $205,000
• Closing costs: $24,600
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $820,000 Active 36 DOM
2. 2026-06-17
   days on market $820,000 Active 35 DOM
3. 2026-06-16
   days on market $820,000 Active 34 DOM
4. 2026-06-15
   days on market $820,000 Active 33 DOM
5. 2026-06-13
   days on market $820,000 Active 31 DOM
6. 2026-06-09
   days on market $820,000 Active 27 DOM
7. 2026-06-08
   days on market $820,000 Active 26 DOM
8. 2026-06-07
   days on market $820,000 Active 25 DOM
9. 2026-06-04
   days on market $820,000 Active 22 DOM
10. 2026-06-03
    days on market $820,000 Active 21 DOM
11. 2026-06-02
    days on market $820,000 Active 20 DOM
12. 2026-06-01
    days on market $820,000 Active 19 DOM
13. 2026-05-31
    days on market $820,000 Active 18 DOM
14. 2026-05-13
    listed $820,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 30 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: $144,600
• − Mortgage interest: −$45,933
• − Property taxes: −$12,300
• − Insurance: −$4,100
• − Repairs & maintenance: −$11,568
• − Management: −$11,568
• − Depreciation: −$23,855
• Taxable income: $35,277
• Est. tax owed @ 24.0%: −$8,466
• After-tax cash flow: $37,766/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 · 14 photos

Good 75/100 Cosmetic rehab

This property is in good condition with minimal repairs needed. Painting the exterior walls, cleaning the gutters, and trimming the landscaping can significantly increase its value.

Value-add opportunities

• Both Paint the exterior walls — Painting the exterior walls can improve the curb appeal and increase the property's value.
• Both Clean the gutters — Clean gutters can prevent water damage and improve the property's value.
• Both Trim the landscaping — Trimming the landscaping can improve the curb appeal and increase the property's value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior walls — Painting the exterior walls can improve the curb appeal and increase the property's value. ↑
• Both Clean the gutters — Clean gutters can prevent water damage and improve the property's value. ↑
• Both Trim the landscaping — Trimming the landscaping can improve the curb appeal and increase the property's value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-13 Listed $820,000 MARMLS