428 NE 82nd St Unit 5E · Miami, FL 33138

$150,000

1 bd · 1.0 ba · 476 sqft · Condo public records · 133 Days on market

Built 1945 $347/mo HOA · 14% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 1-bedroom, 1-bathroom unit presents an excellent opportunity for investors. Located in the Little River area, it offers a functional layout within 476 Sq. Ft. Private community garden, off-street parking. Centrally located near Ironside, Citadel, shops, and dining, with easy access to Biscayne Blvd and public transportation. Great investment opportunity.

Key facts

• Off-street parking
• $347 HOA
• Garage

Tags

• PRIVATE COMMUNITY GARDEN
• OFF-STREET PARKING
• EASY ACCESS TO BISCAYNE BLVD

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with conditions; restrictions may apply
• HOA & community: Monthly association fee of $347; HOA covers association management, insurance, pest control, roof, sewer, trash and water

Exterior

• Parking: Detached garage with 1 space; One covered parking space
• Security: Smoke detector(s)
• Utilities: Has heating and cooling
• Home design: 2-story residence; Resale property; Stucco exterior; Entry located on level 2
• Construction: Stucco construction
• Exterior features: Smoke detectors installed; Property is attached

Interior

• Bedrooms: At least one bedroom on the main level
• Flooring: Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Wall/window air conditioning units
• Interior features: Second-floor entry; Bedroom on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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 flat; 369 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 40% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 133 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $6k; list at $150k implies a 2208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1945 — 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 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 1945 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.68% ✓
• Cap rate: 12.16%
• Cash-on-cash: 20.95%
• DSCR: 1.93
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.74×
• Total profit: $-10,920
• Equity at exit: $22,365

10-year hold

• IRR: -3.6%
• Equity multiple: 0.80×
• Total profit: $-8,219
• Equity at exit: $12,969

Cash invested: $42,000 (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 33138

• Rents YoY: 0.3%
• Active inventory: 369
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,519 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$61 /mo · $731/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$347
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $307

Break-even live

Break-even rent $2,131

Max offer price $150,000

Occupancy floor 83%

Sensitivity live

Price	-10% $392	-5% $349	+0% $307	+5% $264	+10% $222
Rent	-10% $108	-5% $207	+0% $307	+5% $406	+10% $506
Rate	-1.0pp $382	-0.5pp $345	base $307	+0.5pp $268	+1.0pp $228

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $347 · $4,164/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $150,000 Active 133 DOM
2. 2026-06-18
   days on market $150,000 Active 130 DOM
3. 2026-06-17
   days on market $150,000 Active 129 DOM
4. 2026-06-16
   days on market $150,000 Active 128 DOM
5. 2026-06-15
   days on market $150,000 Active 127 DOM
6. 2026-06-13
   days on market $150,000 Active 125 DOM
7. 2026-06-09
   days on market $150,000 Active 121 DOM
8. 2026-06-08
   days on market $150,000 Active 120 DOM
9. 2026-06-07
   days on market $150,000 Active 119 DOM
10. 2026-06-04
    days on market $150,000 Active 116 DOM
11. 2026-06-03
    days on market $150,000 Active 115 DOM
12. 2026-06-02
    days on market $150,000 Active 114 DOM
13. 2026-06-01
    days on market $150,000 Active 113 DOM
14. 2026-05-31
    days on market $150,000 Active 112 DOM
15. 2026-03-25
    price $150,000
16. 2026-02-08
    listed $210,000 Active
17. 1976-11-01
    soldstatus $6,500
18. 1975-10-01
    soldstatus $16,900

ⓘ 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: $731 · $61/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$514/yr (+$43/mo · 70.4%)

ⓘ 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 · 97% 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: $30,234
• − Mortgage interest: −$8,402
• − Property taxes: −$731
• − Insurance: −$5,868
• − Repairs & maintenance: −$2,419
• − Management: −$2,419
• − HOA: −$4,164
• − Depreciation: −$4,364
• Taxable income: $1,867
• Est. tax owed @ 24.0%: −$448
• After-tax cash flow: $3,234/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): 28,980
• Household income: $75,051
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 2049.0

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: 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
▸Technology Manufacturing	1	$35B

Price history

+787.6% since first listed

4 events — show timeline

• 2026-03-25 Price Changed $150,000 MARMLS
• 2026-02-08 Listed $210,000 MARMLS
• 1976-11-01 Sold (Public Records) $6,500 Public Records
• 1975-10-01 Sold (Public Records) $16,900 Public Records

Property tax history

+2.1%/yr

Latest (2025): $731 · +5.7% YoY. Source: county tax records.