2316-2318 NW 98th St · West Little River, FL 33147

$649,900

5 bd · 3.0 ba · 1,854 sqft · MultiFamily public records · 38 Days on market

Built 2005 Est $619k · at est.

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Why this score? — see what drove the D- 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 +13.3/30.0
• ARV discount +5.3/15.0
• Schools +4.2/10.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• 1% rule +3.5/10.0
• 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: 2 units. confirmed

Listing remarks

EXCELLENT OPPORTUNITY IN THE HEART OF MIAMI! THIS SPACIOUS DUPLEX IS PERFECT FOR INVESTORS OR OWNER-OCCUPANTS LOOKING TO LIVE IN ONE UNIT AND RENT OUT THE OTHER FOR ADDITIONAL INCOME. ONE UNIT FEATURES 3BED AND 2BATH, WHILE THE SECOND UNIT OFFERS 2BED 1BATH, BOTH WITH SPACIOUS LAYOUTS AND COMFORTABLE LIVING AREAS. RECENTLY UPDATED WITH A BRAND-NEW ROOF, FRESH EXTERIOR PAINT. PLENTY OF PARKING AND NIZE SIZE YARD. WHETHER YOU ARE LOOKING FOR STRONG INVESTMENT OR A VERSATILE MULTI-FAMILY HOME, THIS IS A MUST SEE! DONT MISS OUT ON THIS INCREDIBLE OPPORTUNITY. CALL LA TODAY TO SCHEDULE YOUR SHOWING.

Key facts

• Recently updated
• Brand new roof
• Spacious duplex

Tags

• SPACIOUS DUPLEX
• RECENTLY UPDATED
• BRAND NEW ROOF
• FRESH EXTERIOR PAINT
• PLENTY OF PARKING
• NICE SIZE YARD

Property features AI

Finance

• Financial info: Two units currently leased; Unit rents: one 2-bed at $1,900 and another 2-bed at $1,900 (two total 2-bed units); 3-bed unit at $2,780; Rent includes sewer

Exterior

• Parking: Total of 4 parking spaces; Other parking
• Utilities: Public water; Public sewer; Cable not available
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Resale property
• Exterior features: Less than quarter acre lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Two 2-bedroom units; One 3-bedroom unit
• Flooring: Tile
• Bathrooms: Two 1-bath units; One 2-bath unit
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $-3 ($-35/yr) — negative. Per door: $-1/mo.
• To cash-flow at today's rent, offer at most $649k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $552k (15.0% below list).
• Recommended offer: $552k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.8% in West Little River — 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 79/100 on livability (#152 in FL, #2,286 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, employment D-.
• 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: Miami Shores Elementary School (math 39% / reading 55%, grade D-, #1,191 of 2,144 statewide, top 57%, 559 students, 59% FRL); Madison Middle School (math 21% / reading 24%, grade F, #546 of 571 statewide, top 96%, 403 students, 69% FRL); Miami Central Senior High School (math 16% / reading 20%, grade F, #570 of 667 statewide, top 86%, 1,398 students, 74% FRL) — zoned schools at 67% FRL track the district average.
• Zoned-school proficiency averages 29% at this address vs 50% district-wide (-20 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 soft (-0.7%/yr); 230 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $5,524/mo this rent would consume 131% of the median local household income ($51k/yr) (locally 2419% 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 $4k of loan paydown is wiped out by about $19k 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 38 days — a 3% lower offer ($630k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $552,400 (15.0% 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 38 days. Have you received any prior offers? Is the seller open to a 15% 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. 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. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.29%
• Cash-on-cash: -0.02%
• DSCR: 1.00
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $619,236
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2283 NW 86th Ter	0.72mi	4/4.0 (-1)	1,947 (+5%)	12mo	$650,000	$334	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.33×
• Total profit: $-121,677
• Equity at exit: $96,902

10-year hold

• IRR: -20.3%
• Equity multiple: 0.07×
• Total profit: $-168,726
• Equity at exit: $56,191

Cash invested: $181,972 (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 33147

• Home prices YoY: -30.9%
• Rents YoY: -0.7%
• Active inventory: 230
• Price-to-rent: 19.6×

Monthly cashflow live

• Estimated rent: $5,524 medium
• Mortgage (P&I): −$3,408
• Tax from tax record: −$688 /mo · $8,255/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,160
• Net cashflow: $-3

Break-even live

Break-even rent $5,528

Max offer price $649,391

Occupancy floor 95%

Sensitivity live

Price	-10% $365	-5% $181	+0% $-3	+5% $-187	+10% $-371
Rent	-10% $-439	-5% $-221	+0% $-3	+5% $215	+10% $434
Rate	-1.0pp $324	-0.5pp $162	base $-3	+0.5pp $-171	+1.0pp $-343

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$5,524
Total (2 units)			$5,524

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: $162,475
• Closing costs: $19,497
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $649,900 Active 38 DOM
2. 2026-06-18
   days on market $649,900 Active 35 DOM
3. 2026-06-17
   days on market $649,900 Active 34 DOM
4. 2026-06-16
   days on market $649,900 Active 33 DOM
5. 2026-06-15
   days on market $649,900 Active 32 DOM
6. 2026-06-13
   days on market $649,900 Active 30 DOM
7. 2026-06-09
   days on market $649,900 Active 26 DOM
8. 2026-06-08
   days on market $649,900 Active 25 DOM
9. 2026-06-07
   days on market $649,900 Active 24 DOM
10. 2026-06-04
    days on market $649,900 Active 21 DOM
11. 2026-06-03
    days on market $649,900 Active 20 DOM
12. 2026-06-02
    days on market $649,900 Active 19 DOM
13. 2026-06-01
    days on market $649,900 Active 18 DOM
14. 2026-05-31
    days on market $649,900 Active 17 DOM
15. 2026-05-14
    listed $649,900 Active

ⓘ 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: $8,255 · $688/mo
• Projected year-2 tax: $8,255 · $688/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 7 d/yr ≥105°F today · 27 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: $66,288
• − Mortgage interest: −$36,405
• − Property taxes: −$8,255
• − Insurance: −$3,250
• − Repairs & maintenance: −$5,303
• − Management: −$5,303
• − Depreciation: −$18,906
• Taxable loss: −$11,133
• Est. tax savings @ 24.0%: +$2,672
• After-tax cash flow: $2,637/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 — West Little River

• Score: 79/100
• State rank: #152
• US rank: #2286

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Little River, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 81,393
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 50,419
• Household income: $50,704
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 2419.0

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 (52%)
• Race & ethnicity: Hispanic / Latino 52% Black 46% Two or more races 22% White 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 24% Dominican 4%
• Common ancestry: Hispanic 5%
• Foreign-born: 39% · Canada, Jamaica, Dominican Republic
• Languages at home: 45% English-only · Spanish 50% French/Haitian/Cajun 5%

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: ▼ -286.84%
• Current HPI: 642.2677
• Rent YoY: ▼ -0.71%
• 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

1 event — show timeline

• 2026-05-14 Listed $649,900 MARMLS

Property tax history

+6.7%/yr

Latest (2025): $8,255 · +7.7% YoY. Source: county tax records.