675 NW 34th St · Miami, FL 33127

$1,700,000

3 bd · 1.0 ba · 1,141 sqft · MultiFamily public records · 102 Days on market

Built 1928

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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).

• 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
• Cash flow +0.3/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This rare find includes a single-family home with two detached ADUs, making it a prime house-hack opportunity or a smart income-generating investment. Located in a rapidly growing industrial zone within walking distance of Wynwood Norte, this property offers flexibility—live in one unit while renting out the others or leverage the two adjacent lots for future development in a high-demand commercial area. Just minutes from Wynwood, the Design District, Midtown, Miami Beach, and major highways, this property sits at the bustling intersection of Allapattah and Wynwood along the high-traffic NW 7th Avenue Corridor, ensuring maximum exposure and accessibility. With industrial zoning that a

Key facts

• Industrial zoning
• Single family home
• Minutes from wynwood

Tags

• SINGLE FAMILY HOME
• DETACHED ADUS
• INCOME GENERATING INVESTMENT
• HIGH DEMAND COMMERCIAL AREA
• MINUTES FROM WYNWOOD
• INDUSTRIAL ZONING

Property features AI

Finance

• Financial info: Part of a 3-unit community; Total units on the property: 1

Exterior

• Utilities: Public sewer; Cable available
• Home design: Triplex; Single-story; Resale property
• Construction: Block construction; Flat and tile roof
• Exterior features: Front porch

Interior

• Flooring: Tile
• Heating & cooling: Central heating (electric) with separate meters; Central electric air conditioning
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $1.70M.

Deal economics

• At list price, monthly cash flow is $-8k ($-91k/yr) — negative.
• To cash-flow at today's rent, offer at most $361k (78.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $357k (79.0% below list).
• Recommended offer: $357k (79.0% below list) — sets the bar for 1% rule.
• Cap rate 0.9% vs local median 1.9% in Miami — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Santa Clara Elementary School (math 30% / reading 28%, grade F, #1,932 of 2,144 statewide, top 91%, 596 students, 59% FRL); Georgia Jones Ayers Middle School (math 13% / reading 16%, grade F, #568 of 571 statewide, top 100%, 543 students, 68% FRL); Miami Jackson Senior High School (math 13% / reading 22%, grade F, #575 of 667 statewide, top 86%, 1,305 students, 62% FRL) — zoned schools at 63% 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.
• Market conditions: Rents rising (+2.3%/yr); 296 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $12k of loan paydown is wiped out by about $51k 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 102 days — a 9% lower offer ($1.55M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago 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 $1.70M implies a 2329% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• 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 $356,988 (79.0% 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 102 days. Have you received any prior offers? Is the seller open to a 79% concession, seller financing, or rate buy-down credit?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 0.21% ✗
• Cap rate: 0.94%
• Cash-on-cash: -19.11%
• DSCR: 0.15
• GRM: 39.7

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: -56.0%
• Equity multiple: -0.60×
• Total profit: $-761,724
• Equity at exit: $253,476

10-year hold

• IRR: —
• Equity multiple: -1.73×
• Total profit: $-1,298,838
• Equity at exit: $146,985

Cash invested: $476,000 (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 33127

• Home prices YoY: -30.1%
• Rents YoY: 2.3%
• Active inventory: 296
• Price-to-rent: 39.7×

Monthly cashflow live

• Estimated rent: $3,570 medium
• Mortgage (P&I): −$8,915
• Tax from tax record: −$778 /mo · $9,335/yr
• Insurance: −$708
• HOA: −$0
• Vacancy / Maint / Mgmt: −$750
• Net cashflow: $-7,581

Break-even live

Break-even rent $13,166

Max offer price $360,784

Occupancy floor —

Sensitivity live

Price	-10% $-6,619	-5% $-7,100	+0% $-7,581	+5% $-8,062	+10% $-8,543
Rent	-10% $-7,863	-5% $-7,722	+0% $-7,581	+5% $-7,440	+10% $-7,299
Rate	-1.0pp $-6,725	-0.5pp $-7,149	base $-7,581	+0.5pp $-8,022	+1.0pp $-8,470

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: $425,000
• Closing costs: $51,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$18,500	$14.68	4d	13	1.11mi
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$13,925	$5.25	0d	19	1.29mi

Listing history 22 events

1. 2026-06-21
   days on market $1,700,000 Active 102 DOM
2. 2026-06-18
   days on market $1,700,000 Active 99 DOM
3. 2026-06-17
   days on market $1,700,000 Active 98 DOM
4. 2026-06-16
   days on market $1,700,000 Active 97 DOM
5. 2026-06-15
   days on market $1,700,000 Active 96 DOM
6. 2026-06-13
   days on market $1,700,000 Active 94 DOM
7. 2026-06-09
   days on market $1,700,000 Active 90 DOM
8. 2026-06-08
   days on market $1,700,000 Active 89 DOM
9. 2026-06-07
   days on market $1,700,000 Active 88 DOM
10. 2026-06-04
    days on market $1,700,000 Active 85 DOM
11. 2026-06-03
    days on market $1,700,000 Active 84 DOM
12. 2026-06-02
    days on market $1,700,000 Active 83 DOM
13. 2026-06-01
    days on market $1,700,000 Active 82 DOM
14. 2026-05-31
    days on market $1,700,000 Active 81 DOM
15. 2025-01-29
    listed $1,700,000 Active
16. 2025-01-28
    historical
17. 2024-01-28
    listed $1,999,999
18. 2024-01-23
    historical
19. 2021-05-16
    listed $2,500,000
20. 2001-04-16
    soldstatus $70,000
21. 2001-04-16
    soldstatus $70,000
22. 1979-08-01
    soldstatus $38,000

ⓘ 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: $9,335 · $778/mo
• Projected year-2 tax: $14,110 · $1,176/mo
• Expected delta: +$4,775/yr (+$398/mo · 51.2%)

ⓘ 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) · 20% 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: $42,839
• − Mortgage interest: −$95,226
• − Property taxes: −$9,335
• − Insurance: −$8,500
• − Repairs & maintenance: −$3,427
• − Management: −$3,427
• − Depreciation: −$49,455
• Taxable loss: −$126,531
• Est. tax savings @ 24.0%: +$30,367
• After-tax cash flow: $-60,605/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

+4373.7% since first listed

8 events — show timeline

• 2025-01-29 Listed $1,700,000 Beaches MLS
• 2025-01-28 Listing Removed — Beaches MLS
• 2024-01-28 Listed $1,999,999 Beaches MLS
• 2024-01-23 Listing Removed — Beaches MLS
• 2021-05-16 Listed $2,500,000 Beaches MLS
• 2001-04-16 Sold (Public Records) $70,000 Public Records
• 2001-04-16 Sold (Public Records) $70,000 Public Records
• 1979-08-01 Sold (Public Records) $38,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $9,335 · +7.3% YoY. Source: county tax records.