929 SW 12th Ave · Miami, FL 33130

$894,000

3 bd · 1.0 ba · 937 sqft · MultiFamily public records · 460 Days on market

Built 1924

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Why this score? — see what drove the C+ 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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +4.2/10.0
• Appreciation +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

2 properties in 1 lot completely separated units, Beautifully renovated with a brand new roof. Front House is rented 2500/month tenant pay for water and elec,the back house is vacant for buyer to move in, but can be rent 2500/month, great location for short terms.

Key facts

• Updated units
• Washer dryer
• Newer roof

Tags

• UPDATED UNITS
• WASHER DRYER
• PARKING FOR 4 CARS
• MATURE MANGO TREES
• IMPACT WINDOWS
• NEWER ROOF

Property features AI

Finance

• Other:
• Financial info: Rental income reported: units leasing at $2,750 and $3,100; Some units currently leased
• HOA & community:

Exterior

• Parking: Total of 4 parking spaces; Assigned parking spaces for units
• Security:
• Utilities: Cable available; Public sewer
• Home design: Single-story building; Flat and shingle roof
• Construction: Block, frame, and stucco construction; Year built: Unknown
• Exterior features: Less than quarter-acre lot

Interior

• Kitchen:
• Bedrooms: Three 3-bedroom unit(s); Three 2-bedroom unit(s)
• Flooring: Laminate; Tile
• Bathrooms: One full bathroom in each unit
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Laminate and tile flooring
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/?-bath units multifamily listed at $894k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $572/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $894k).
• Recommended offer: $787k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 soft (-0.5%/yr); 639 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $10,110/mo this rent would consume 199% 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.

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $6k of loan paydown is wiped out by about $16k 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 460 days — a 12% lower offer ($787k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $55k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $725k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $786,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 460 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 1924 — 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 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. 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: 1.13% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.23%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.79% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-18,767
• Equity at exit: $182,403

10-year hold

• IRR: 2.8%
• Equity multiple: 1.21×
• Total profit: $52,440
• Equity at exit: $164,330

Cash invested: $250,320 (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 33130

• Home prices YoY: -0.5%
• Rents YoY: -0.5%
• Active inventory: 639
• Price-to-rent: 22.1×

Monthly cashflow live

• Estimated rent: $10,110 medium
• Mortgage (P&I): −$4,688
• Tax from tax record: −$1,209 /mo · $14,509/yr
• Insurance: −$372
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,123
• Net cashflow: $1,717

Break-even live

Break-even rent $7,937

Max offer price $894,000

Occupancy floor 78%

Sensitivity live

Price	-10% $2,223	-5% $1,970	+0% $1,717	+5% $1,464	+10% $1,211
Rent	-10% $918	-5% $1,318	+0% $1,717	+5% $2,116	+10% $2,516
Rate	-1.0pp $2,167	-0.5pp $1,944	base $1,717	+0.5pp $1,485	+1.0pp $1,250

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	—	$10,110
Total (3 units)			$10,110

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: $223,500
• Closing costs: $26,820
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $894,000 Active 460 DOM
2. 2026-06-17
   days on market $894,000 Active 459 DOM
3. 2026-06-16
   days on market $894,000 Active 458 DOM
4. 2026-06-15
   days on market $894,000 Active 457 DOM
5. 2026-06-13
   days on market $894,000 Active 455 DOM
6. 2026-06-09
   days on market $894,000 Active 451 DOM
7. 2026-06-08
   days on market $894,000 Active 450 DOM
8. 2026-06-08
   days on market $894,000 Active 449 DOM
9. 2026-06-04
   days on market $894,000 Active 446 DOM
10. 2026-06-03
    days on market $894,000 Active 445 DOM
11. 2026-06-02
    days on market $894,000 Active 444 DOM
12. 2026-06-01
    days on market $894,000 Active 443 DOM
13. 2026-05-31
    days on market $894,000 Active 442 DOM
14. 2026-05-22
    price $894,000
15. 2026-03-03
    price $899,000
16. 2026-01-12
    status Active
17. 2026-01-12
    historical Active Under Contract
18. 2025-03-14
    listed $949,000 Active
19. 2023-03-31
    soldstatus $725,000
20. 2023-03-17
    soldstatus $725,000 264-char remark

    Show marketing remark (264 chars)

    2 properties in 1 lot completely separated units, Beautifully renovated with a brand new roof. Front House is rented 2500/month tenant pay for water and elec,the back house is vacant for buyer to move in, but can be rent 2500/month, great location for short terms.

21. 2023-02-03
    listed $739,000 264-char remark

    Show marketing remark (264 chars)

    2 properties in 1 lot completely separated units, Beautifully renovated with a brand new roof. Front House is rented 2500/month tenant pay for water and elec,the back house is vacant for buyer to move in, but can be rent 2500/month, great location for short terms.

22. 2022-06-01
    soldstatus $460 Closed 369-char remark

    Show marketing remark (369 chars)

    Location! This amazing Little Havana's neighborhood home is an amazing opportunity for a large family or investor. A stones throw away from Little Havana's best restaurants and nightlife. Minutes from Brickell, Coral Gables, and Coconut Grove. Taxes do not reflect homestead exemption. Tenant Occupied and showings are hard to arrange we need at least 48 hours to view.

23. 2022-05-06
    historical Active Under Contract 369-char remark

    Show marketing remark (369 chars)

    Location! This amazing Little Havana's neighborhood home is an amazing opportunity for a large family or investor. A stones throw away from Little Havana's best restaurants and nightlife. Minutes from Brickell, Coral Gables, and Coconut Grove. Taxes do not reflect homestead exemption. Tenant Occupied and showings are hard to arrange we need at least 48 hours to view.

24. 2022-05-04
    listed $500,000 Active 369-char remark

    Show marketing remark (369 chars)

    Location! This amazing Little Havana's neighborhood home is an amazing opportunity for a large family or investor. A stones throw away from Little Havana's best restaurants and nightlife. Minutes from Brickell, Coral Gables, and Coconut Grove. Taxes do not reflect homestead exemption. Tenant Occupied and showings are hard to arrange we need at least 48 hours to view.

25. 2015-04-16
    historical
26. 2014-05-01
    listed $350,000 Active
27. 2002-05-03
    soldstatus $189,000
28. 2000-10-31
    soldstatus $160,000
29. 2000-05-05
    soldstatus $114,200
30. 1994-11-18
    soldstatus $122,000
31. 1994-06-28
    soldstatus $60,500

ⓘ 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: $14,509 · $1,209/mo
• Projected year-2 tax: $14,509 · $1,209/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥103°F today · 32 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: $121,320
• − Mortgage interest: −$50,078
• − Property taxes: −$14,509
• − Insurance: −$4,470
• − Repairs & maintenance: −$9,706
• − Management: −$9,706
• − Depreciation: −$26,007
• Taxable income: $6,844
• Est. tax owed @ 24.0%: −$1,643
• After-tax cash flow: $18,962/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): 34,964
• Household income: $61,009
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 5231.0

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: Predominantly Hispanic (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 44% White 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 24% Dominican 4%
• Common ancestry: Romanian 2% Estonian 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, Guatemala
• Languages at home: 23% English-only · Spanish 70% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -1.79%
• Current HPI: 344.7752
• Rent YoY: ▼ -0.53%
• 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

+1377.7% since first listed

18 events — show timeline

• 2026-05-22 Price Changed $894,000 MARMLS
• 2026-03-03 Price Changed $899,000 MARMLS
• 2026-01-12 Relisted — MARMLS
• 2026-01-12 Contingent — MARMLS
• 2025-03-14 Listed $949,000 MARMLS
• 2023-03-31 Sold (Public Records) $725,000 Public Records
• 2023-03-17 Sold (MLS) $725,000 Beaches MLS
• 2023-02-03 Listed $739,000 Beaches MLS
• 2022-06-01 Sold (MLS) $460 MARMLS
• 2022-05-06 Contingent — MARMLS
• 2022-05-04 Listed $500,000 MARMLS
• 2015-04-16 Listing Removed — MARMLS
• 2014-05-01 Listed $350,000 MARMLS
• 2002-05-03 Sold (Public Records) $189,000 Public Records
• 2000-10-31 Sold (Public Records) $160,000 Public Records
• 2000-05-05 Sold (Public Records) $114,200 Public Records
• 1994-11-18 Sold (Public Records) $122,000 Public Records
• 1994-06-28 Sold (Public Records) $60,500 Public Records

Property tax history

+10.4%/yr

Latest (2025): $14,509 · +11.4% YoY. Source: county tax records.