580-590 NW 58th St · Miami, FL 33127

$740,000

3 bd · 2.0 ba · 1,047 sqft · MultiFamily public records · 306 Days on market

Built 2008 ↓ 6% since listing

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Why this score? — see what drove the F 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 +7.9/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0
• 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 MLS

Turnkey solution for passive investors located in a booming area with an actual cap rate of 8.03% and a pro forma cap rate of 8.44%. 2008 built duplex completely renovated in 2023 and located within an opportunity zone. Easy to manage. One home is currently leased to Section 8 while the other is leased to a long term tenant. Renovations include: All new wood cabinets w/ quartz countertops & stainless-steel appliances and updated luxury vinyl plank flooring. Unique feature of this duplex is the buildings are detached homes appealing to single family renters which tend to pay a premium when compared to traditional duplexes. Low maintenance, impressive finishes & headache free easy to manage. Proximity to Design District, Wynwood and Edgewater has fueled the gentrification of neighborhood.

Key facts

• Fully renovated
• High-end finishes
• Detached units

Tags

• FULLY RENOVATED
• DETACHED UNITS
• HIGH-END FINISHES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $740k.

Deal economics

• At list price, monthly cash flow is $-778 ($-9k/yr) — negative. Per door: $-389/mo.
• To cash-flow at today's rent, offer at most $603k (18.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $547k (26.1% below list).
• Recommended offer: $547k (26.1% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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: Toussaint L'Ouverture Elementary (math 27% / reading 37%, grade F, #1,797 of 2,144 statewide, top 86%, 337 students, 75% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Miami Edison Senior High School (math 19% / reading 15%, grade F, #597 of 667 statewide, top 90%, 623 students, 72% FRL).
• Zoned-school proficiency averages 24% at this address vs 50% district-wide (-26 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 rising (+2.3%/yr); 296 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 $5,466/mo this rent would consume 159% of the median local household income ($41k/yr) (locally 2523% 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 $5k of loan paydown is wiped out by about $22k 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 306 days — a 12% lower offer ($651k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $250k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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 $546,600 (26.1% 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 306 days. Have you received any prior offers? Is the seller open to a 26% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
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: 0.74% ✗
• Cap rate: 5.03%
• Cash-on-cash: -4.51%
• DSCR: 0.80
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.26% rent growth · sell at horizon

5-year hold

• IRR: -24.7%
• Equity multiple: 0.16×
• Total profit: $-173,451
• Equity at exit: $110,336

10-year hold

• IRR: -22.7%
• Equity multiple: -0.11×
• Total profit: $-230,910
• Equity at exit: $63,982

Cash invested: $207,200 (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 33127

• Home prices YoY: -30.1%
• Rents YoY: 2.3%
• Active inventory: 296
• Price-to-rent: 22.6×

Monthly cashflow live

• Estimated rent: $5,466 medium
• Mortgage (P&I): −$3,881
• Tax from tax record: −$907 /mo · $10,890/yr
• Insurance: −$308
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,148
• Net cashflow: $-778

Break-even live

Break-even rent $6,451

Max offer price $602,509

Occupancy floor —

Sensitivity live

Price	-10% $-359	-5% $-569	+0% $-778	+5% $-988	+10% $-1,197
Rent	-10% $-1,210	-5% $-994	+0% $-778	+5% $-562	+10% $-346
Rate	-1.0pp $-406	-0.5pp $-590	base $-778	+0.5pp $-970	+1.0pp $-1,165

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$5,466
Total (2 units)			$5,466

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: $185,000
• Closing costs: $22,200
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-04-13
   status Pending
2. 2026-04-08
   price $740,000
3. 2026-04-03
   price $749,000
4. 2026-04-02
   price $400,000
5. 2026-04-02
   status Active
6. 2026-03-05
   historical
7. 2026-03-04
   price $794,900
8. 2026-03-02
   price $774,900
9. 2026-02-17
   status Active
10. 2026-02-16
    price $784,900
11. 2026-02-06
    price $779,900
12. 2026-01-02
    price $775,900
13. 2026-01-02
    price $786,900
14. 2025-12-16
    price $784,900
15. 2025-12-10
    status Active
16. 2025-11-28
    historical
17. 2025-11-06
    price $814,900
18. 2025-10-30
    price $794,900
19. 2025-09-02
    price $784,900
20. 2025-08-28
    price $818,000
21. 2025-08-22
    price $813,000
22. 2025-07-16
    price $810,000
23. 2025-06-26
    status Active
24. 2025-06-09
    historical
25. 2025-06-02
    price $799,999
26. 2025-06-02
    price $848,000
27. 2025-05-28
    price $849,000
28. 2025-05-13
    price $849,900
29. 2025-05-11
    price $897,100
30. 2025-04-15
    price $897,143
31. 2025-04-15
    listed $989,500 Active
32. 2023-11-21
    soldstatus $784,900
33. 2023-11-20
    soldstatus $784,900 Closed 809-char remark

    Show marketing remark (809 chars)

    Turnkey solution for passive investors located in a booming area with an actual cap rate of 8.03% and a pro forma cap rate of 8.44%. 2008 built duplex completely renovated in 2023 and located within an opportunity zone. Easy to manage. One home is currently leased to Section 8 while the other is leased to a long term tenant. Renovations include: All new wood cabinets w/ quartz countertops & stainless-steel appliances and updated luxury vinyl plank flooring. Unique feature of this duplex is the buildings are detached homes appealing to single family renters which tend to pay a premium when compared to traditional duplexes. Low maintenance, impressive finishes & headache free easy to manage. Proximity to Design District, Wynwood and Edgewater has fueled the gentrification of neighborhood.

34. 2023-10-20
    status Pending 809-char remark

    Show marketing remark (809 chars)

    Turnkey solution for passive investors located in a booming area with an actual cap rate of 8.03% and a pro forma cap rate of 8.44%. 2008 built duplex completely renovated in 2023 and located within an opportunity zone. Easy to manage. One home is currently leased to Section 8 while the other is leased to a long term tenant. Renovations include: All new wood cabinets w/ quartz countertops & stainless-steel appliances and updated luxury vinyl plank flooring. Unique feature of this duplex is the buildings are detached homes appealing to single family renters which tend to pay a premium when compared to traditional duplexes. Low maintenance, impressive finishes & headache free easy to manage. Proximity to Design District, Wynwood and Edgewater has fueled the gentrification of neighborhood.

35. 2023-10-10
    listed $784,900 Active 809-char remark

    Show marketing remark (809 chars)

    Turnkey solution for passive investors located in a booming area with an actual cap rate of 8.03% and a pro forma cap rate of 8.44%. 2008 built duplex completely renovated in 2023 and located within an opportunity zone. Easy to manage. One home is currently leased to Section 8 while the other is leased to a long term tenant. Renovations include: All new wood cabinets w/ quartz countertops & stainless-steel appliances and updated luxury vinyl plank flooring. Unique feature of this duplex is the buildings are detached homes appealing to single family renters which tend to pay a premium when compared to traditional duplexes. Low maintenance, impressive finishes & headache free easy to manage. Proximity to Design District, Wynwood and Edgewater has fueled the gentrification of neighborhood.

ⓘ 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: $10,890 · $907/mo
• Projected year-2 tax: $10,890 · $907/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,592
• − Mortgage interest: −$41,452
• − Property taxes: −$10,890
• − Insurance: −$3,700
• − Repairs & maintenance: −$5,247
• − Management: −$5,247
• − Depreciation: −$21,527
• Taxable loss: −$22,471
• Est. tax savings @ 24.0%: +$5,393
• After-tax cash flow: $-3,947/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): 26,786
• Household income: $41,230
• Rent vs Own: 73.1% rent · 26.9% own
• Severe rent burden: 2523.0

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: Majority Hispanic (55%)
• Race & ethnicity: Hispanic / Latino 55% Black 39% Two or more races 30% White 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 9% Dominican 5%
• Common ancestry: Hispanic 11%
• Foreign-born: 43% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 53% French/Haitian/Cajun 12%

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: ▼ -293.00%
• Current HPI: 680.1845
• Rent YoY: ▲ 2.26%
• 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

-5.7% since first listed

35 events — show timeline

• 2026-04-13 Pending — MARMLS
• 2026-04-08 Price Changed $740,000 MARMLS
• 2026-04-03 Price Changed $749,000 MARMLS
• 2026-04-02 Price Changed $400,000 MARMLS
• 2026-04-02 Relisted — MARMLS
• 2026-03-05 Listing Removed — MARMLS
• 2026-03-04 Price Changed $794,900 MARMLS
• 2026-03-02 Price Changed $774,900 MARMLS
• 2026-02-17 Relisted — MARMLS
• 2026-02-16 Price Changed $784,900 MARMLS
• 2026-02-06 Price Changed $779,900 MARMLS
• 2026-01-02 Price Changed $775,900 MARMLS
• 2026-01-02 Price Changed $786,900 MARMLS
• 2025-12-16 Price Changed $784,900 MARMLS
• 2025-12-10 Relisted — MARMLS
• 2025-11-28 Listing Removed — MARMLS
• 2025-11-06 Price Changed $814,900 MARMLS
• 2025-10-30 Price Changed $794,900 MARMLS
• 2025-09-02 Price Changed $784,900 MARMLS
• 2025-08-28 Price Changed $818,000 MARMLS
• 2025-08-22 Price Changed $813,000 MARMLS
• 2025-07-16 Price Changed $810,000 MARMLS
• 2025-06-26 Relisted — MARMLS
• 2025-06-09 Listing Removed — MARMLS
• 2025-06-02 Price Changed $799,999 MARMLS
• 2025-06-02 Price Changed $848,000 MARMLS
• 2025-05-28 Price Changed $849,000 MARMLS
• 2025-05-13 Price Changed $849,900 MARMLS
• 2025-05-11 Price Changed $897,100 MARMLS
• 2025-04-15 Price Changed $897,143 MARMLS
• 2025-04-15 Listed $989,500 MARMLS
• 2023-11-21 Sold (Public Records) $784,900 Public Records
• 2023-11-20 Sold (MLS) $784,900 MARMLS
• 2023-10-20 Pending — MARMLS
• 2023-10-10 Listed $784,900 MARMLS

Property tax history

+8.6%/yr

Latest (2025): $10,890 · +7.3% YoY. Source: county tax records.