569 SW 4th St

Miami, FL 33130

$1,325,000B-

6 bd · 4.0 ba · 3,238 sqft · Built 1987 · MultiFamily · Pending · 372 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $15,521/mo
• Mortgage (P&I): −$6,948
• Tax + insurance: −$2,417
• HOA: −$0
• Vac / Maint / Mgmt: −$3,259
• Net cashflow: $2,896/mo
• Annual: $34,756/yr
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• 1% rule: 1.17%
• Cash to close: $371,000

Investor read

• This is a 2×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $1.32M.
• At list price, monthly cash flow is $3k ($35k/yr) — positive. Per door: $724/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.32M).
• It's been on market 372 days — a 12% lower offer ($1.17M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.17M (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.8%/yr); year-one equity from $9k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• 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: Riverside Elementary School (math 23% / reading 23%, grade F, #2,070 of 2,144 statewide, top 97%, 993 students, 56% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 61% FRL track the district average.
• Zoned-school proficiency averages 20% at this address vs 50% district-wide (-29 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents soft (-0.5%/yr); 645 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 8y ago; this cycle's ask has dropped $175k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.3% 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.
• At $15,521/mo this rent would consume 305% of the median local household income ($61k/yr) (locally 5231% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 372 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?