259 NE 56th St · Miami, FL 33137

$699,999

3 bd · 3.0 ba · 1,511 sqft · SingleFamily public records · 9 Days on market

Built 1946 Est $1179k · 41% under

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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 +16.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• 1% rule +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Exceptional investment opportunity in the vibrant Little Haiti neighborhood of Miami. This fully updated duplex features two income producing units. A spacious 3 bedroom, 3 bath unit and a well appointed 1 bedroom, 1 bath unit. Both units are currently leased, providing immediate cash flow for investors. Utilities are included in the rent, offering convenience for tenants. The property has been thoughtfully renovated, making it a turnkey addition to any portfolio. Located in a rapidly developing area with strong rental demand, this is an opportunity you don’t want to miss.

Key facts

• Strong rental demand
• Fully updated duplex
• 2 parking spots

Tags

• FULLY UPDATED DUPLEX
• INCOME PRODUCING UNITS
• THOUGHTFULLY RENOVATED
• STRONG RENTAL DEMAND

Property features AI

Finance

• Financial info: 3-bedroom unit rents for $2,495 (unit is leased); 1-bedroom unit rents for $1,450 (unit is leased)

Exterior

• Parking: 2 parking spaces total; Each unit includes a parking space
• Utilities: Public sewer; Cable available; Electricity included with rent; Water included with rent; Sewer included with rent; Trash collection included with rent
• Home design: Single-story property; Block construction; Resale property
• Construction: Block construction
• Exterior features: Less than quarter acre lot

Interior

• Bedrooms: One unit with 3 bedrooms (unit leased); One unit with 1 bedroom (unit leased)
• Bathrooms: Three full bathrooms in the 3-bedroom unit; One full bathroom in the 1-bedroom unit
• Interior features: Less than quarter acre lot

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $700k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $595k (15.0% below list).
• Recommended offer: $595k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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 rising (+2.7%/yr); 757 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($5k loan paydown + $2k appreciation (0.3% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.3% appreciation + 2.7% rent growth), your $196k cash investment doubles in ~10 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $252k; list at $700k implies a 177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $595,293 (15.0% below list)

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $1,178,580
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5917 NE 5th Ave	0.39mi	3/1.0	1,666 (+10%)	3mo	$1,300,000	$780	54
231 NE 45th St	0.69mi	3/2.0	1,538 (+2%)	9mo	$1,200,000	$780	54
5 NW 60th Ter	0.47mi	3/2.0	1,358 (-10%)	15mo	$410,000	$302	45
91 NW 51st St	0.54mi	3/3.5	1,732 (+15%)	11mo	$860,000	$497	39

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

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.08×
• Total profit: $15,070
• Equity at exit: $212,827

10-year hold

• IRR: 6.6%
• Equity multiple: 1.74×
• Total profit: $144,179
• Equity at exit: $263,594

Cash invested: $196,000 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 757
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $5,953 medium
• Mortgage (P&I): −$3,671
• Tax from tax record: −$294 /mo · $3,526/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,250
• Net cashflow: $446

Break-even live

Break-even rent $5,388

Max offer price $699,999

Occupancy floor 88%

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$13,753	$5.18	2d	19	1.26mi

Listing history 7 events

1. 2026-06-18
   days on market $699,999 Active 9 DOM
2. 2026-06-17
   days on market $699,999 Active 8 DOM
3. 2026-06-16
   days on market $699,999 Active 7 DOM
4. 2026-06-15
   days on market $699,999 Active 6 DOM
5. 2026-06-13
   days on market $699,999 Active 4 DOM
6. 2026-06-10
   remarks 579-char remark
7. 2026-06-10
   listed $699,999 Active 1 DOM

ⓘ 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: $3,526 · $294/mo
• Projected year-2 tax: $5,810 · $484/mo
• Expected delta: +$2,284/yr (+$190/mo · 64.8%)

ⓘ 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 ≥103°F today · 30 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: $71,435
• − Mortgage interest: −$39,211
• − Property taxes: −$3,526
• − Insurance: −$3,500
• − Repairs & maintenance: −$5,715
• − Management: −$5,715
• − Depreciation: −$20,364
• Taxable loss: −$6,595
• Est. tax savings @ 24.0%: +$1,583
• After-tax cash flow: $6,940/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): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 3106.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% Other Indo-European 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: ▲ 0.27%
• Current HPI: 385.1514
• Rent YoY: ▲ 2.73%
• 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

+2700.0% since first listed

8 events — show timeline

• 2026-06-08 Listed $699,999 MARMLS
• 2026-06-08 Listed $699,999 Beaches MLS
• 2026-05-02 Rental Removed $2,695 TENANTCLOUD
• 2026-03-31 Listed for Rent $2,695 TENANTCLOUD
• 2026-01-25 Rental Removed $1,450 RENTSPREE
• 2025-11-09 Listed for Rent $1,450 RENTSPREE
• 2017-08-28 Sold (Public Records) $252,500 Public Records
• 1978-04-01 Sold (Public Records) $25,000 Public Records

Property tax history

+12.0%/yr

Latest (2025): $3,526 · +2.8% YoY. Source: county tax records.