1220-1222 NE 110th Ter · Miami Shores, FL 33161

$749,000

2 bd · 2.0 ba · 1,696 sqft · MultiFamily public records · 125 Days on market

Built 1954

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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 +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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

Rare opportunity to own a fully legal 3-unit triplex in a highly desirable Miami location near Biscayne Blvd, offered at $749,000 — approximately $250K per unit. This income-producing property features two 2/1 units and one fully renovated efficiency. One 2/1 is currently vacant and was previously renting for $1,850/month until September 2025 and is now actively marketed at $1,850. The second 2/1 is rented month-to-month at $1,750/month, and the renovated efficiency is leased at $1,395/month through August 31, 2026 with option to renew. The property is cash flowing from day one with strong in-place income and additional upside potential. If the two 2/1 units are renovated, there is a

Key facts

• Fully legal triplex
• 6 parking spots
• Built 1954

Tags

• FULLY LEGAL TRIPLEX
• HIGHLY DESIRABLE LOCATION
• FULLY RENOVATED EFFICIENCY
• CASH FLOWING PROPERTY
• STRONG IN-PLACE INCOME
• ADDITIONAL UPSIDE POTENTIAL

Property features AI

Finance

• Other: Unfurnished units
• Financial info: Property contains multiple rental units (mix of 2-bed units and efficiencies) with current rents reported (examples: $1,850; $1,750; $1,495); Some units are month-to-month; at least one unit is leased

Exterior

• Parking: Six parking spaces; Designated parking spaces for units
• Utilities: Cable available; Septic tank sewer
• Home design: Single-story building; Block construction
• Construction: Block construction; Effective year built
• Exterior features: Less than quarter-acre lot; Parking spaces available (total 6)

Interior

• Kitchen: Kitchens included in units
• Bedrooms: Multiple units with 2 bedrooms each (some units are efficiencies)
• Flooring: Tile
• Bathrooms: Full bathrooms in each unit
• Heating & cooling: Central heating; Central electric cooling (central air)
• Interior features: Tile flooring
• Laundry & utility: Individual unit utilities

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $749k.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $749k).
• Recommended offer: $659k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#130 in FL, #1,936 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: crime D, amenities 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 (-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 $11,221/mo this rent would consume 231% 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 $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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $210k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($659k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $70k; list at $749k implies a 970% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $659,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% 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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 A-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 D 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. 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.
10. 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.
11. 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: 1.50% ✓
• Cap rate: 12.56%
• Cash-on-cash: 22.38%
• DSCR: 2.00
• GRM: 5.6

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: 11.8%
• Equity multiple: 1.45×
• Total profit: $94,919
• Equity at exit: $111,678

10-year hold

• IRR: 18.3%
• Equity multiple: 2.32×
• Total profit: $276,508
• Equity at exit: $64,760

Cash invested: $209,720 (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: 15.7×

Monthly cashflow live

• Estimated rent: $11,221 medium
• Mortgage (P&I): −$3,928
• Tax from tax record: −$713 /mo · $8,555/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,356
• Net cashflow: $3,912

Break-even live

Break-even rent $6,269

Max offer price $749,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$7,966
1× unit	1	1	$3,255
Total (3 units)			$11,221

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: $187,250
• Closing costs: $22,470
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $749,000 Active 125 DOM
2. 2026-06-17
   days on market $749,000 Active 124 DOM
3. 2026-06-16
   days on market $749,000 Active 123 DOM
4. 2026-06-15
   days on market $749,000 Active 122 DOM
5. 2026-06-13
   days on market $749,000 Active 120 DOM
6. 2026-06-09
   days on market $749,000 Active 116 DOM
7. 2026-06-08
   days on market $749,000 Active 115 DOM
8. 2026-06-07
   days on market $749,000 Active 114 DOM
9. 2026-06-04
   days on market $749,000 Active 111 DOM
10. 2026-06-03
    days on market $749,000 Active 110 DOM
11. 2026-06-02
    days on market $749,000 Active 109 DOM
12. 2026-06-01
    days on market $749,000 Active 108 DOM
13. 2026-05-31
    days on market $749,000 Active 107 DOM
14. 2026-02-13
    listed $749,000 Active
15. 2025-07-30
    historical $1,395
16. 2025-06-06
    price $1,395
17. 2025-06-05
    listed $1,300
18. 1991-09-13
    soldstatus $70,000
19. 1979-02-01
    soldstatus $60,000
20. 1978-02-01
    soldstatus $48,000

ⓘ 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: $8,555 · $713/mo
• Projected year-2 tax: $8,555 · $713/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 5/10 Major FEMA zone X (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 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: $134,652
• − Mortgage interest: −$41,956
• − Property taxes: −$8,555
• − Insurance: −$3,745
• − Repairs & maintenance: −$10,772
• − Management: −$10,772
• − Depreciation: −$21,789
• Taxable income: $37,063
• Est. tax owed @ 24.0%: −$8,895
• After-tax cash flow: $38,046/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 Shores

• Score: 80/100
• State rank: #130
• US rank: #1936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami-Dade County · 2,697,751 people
• 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

+1460.4% since first listed

7 events — show timeline

• 2026-02-13 Listed $749,000 MARMLS
• 2025-07-30 Rental Removed $1,395 MARMLS
• 2025-06-06 Price Changed $1,395 MARMLS
• 2025-06-05 Listed for Rent $1,300 MARMLS
• 1991-09-13 Sold (Public Records) $70,000 Public Records
• 1979-02-01 Sold (Public Records) $60,000 Public Records
• 1978-02-01 Sold (Public Records) $48,000 Public Records

Property tax history

+17.4%/yr

Latest (2025): $8,555 · +4.3% YoY. Source: county tax records.