2110 NW 24th St · Miami, FL 33142

$895,000

5 bd · 5.0 ba · 2,450 sqft · MultiFamily public records · 56 Days on market

Built 1956

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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 +16.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 1% rule +4.6/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent investment opportunity in Miami. This 5-unit multifamily property is 100% occupied, offering stable cash flow and strong rental demand. All units are 1 bed / 1 bath, ideal for the local rental market. The property has recently completed its 40-year recertification, reducing immediate capital expenditures for the new owner. Current rents present upside potential, allowing for increased income and improved returns. Centrally located with easy access to major highways, public transportation, and employment centers. This property is also available as part of a 10-unit portfolio (2100 & 2110 NW 24 ST) and can be purchased individually or together for greater investment scale. CAL

Key facts

• Strong rental demand
• Stable cash flow
• Multifamily property

Tags

• INVESTMENT OPPORTUNITY
• MULTIFAMILY PROPERTY
• 100 PERCENT OCCUPIED
• STABLE CASH FLOW
• STRONG RENTAL DEMAND
• EASY ACCESS TO MAJOR HIGHWAYS

Property features AI

Finance

• Financial info: Five units total; Units are unfurnished; Typical unit area about 500; Typical actual rent reported at $1,300; At least one unit listed as leased

Exterior

• Parking: Five parking spaces
• Utilities: Public sewer; Cable not available
• Home design: Single-story property
• Construction: Block construction; Concrete roof
• Exterior features: Less than quarter acre lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: One-bedroom units (unit level specified for unit info)
• Bathrooms: One full bathroom per unit
• Heating & cooling: Wall/window air conditioning units
• Interior features: Family room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/1-bath units multifamily listed at $895k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive. Per door: $30/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $862k (3.7% below list).
• Recommended offer: $862k (3.7% 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 soft (-0.4%/yr); 265 active listings in the ZIP; 1 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).
• At $8,616/mo this rent would consume 261% of the median local household income ($40k/yr) (locally 5748% 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 $6k of loan paydown is wiped out by about $27k 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 56 days — a 3% lower offer ($868k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $125k; list at $895k implies a 616% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $861,600 (3.7% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 4% 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 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
10. 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.
11. 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.
12. 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: 0.96% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.76%
• DSCR: 1.12
• GRM: 8.7

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: -18.8%
• Equity multiple: 0.36×
• Total profit: $-160,355
• Equity at exit: $133,447

10-year hold

• IRR: -19.7%
• Equity multiple: 0.11×
• Total profit: $-223,272
• Equity at exit: $77,383

Cash invested: $250,600 (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 33142

• Home prices YoY: -15.1%
• Rents YoY: -0.4%
• Active inventory: 265
• Price-to-rent: 43.3×

Monthly cashflow live

• Estimated rent: $8,616 medium
• Mortgage (P&I): −$4,693
• Tax from tax record: −$1,164 /mo · $13,974/yr
• Insurance: −$373
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,809
• Net cashflow: $149

Break-even live

Break-even rent $8,427

Max offer price $895,000

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$8,615
Total (5 units)			$8,616

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: $223,750
• Closing costs: $26,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2951 NW 13th St Unit 1399868P Miami, FL	4.0–8.0	3.5–6.0	3745	$14,816	$3.96	7d	2	1.23mi

Listing history 16 events

1. 2026-06-18
   days on market $895,000 Active 56 DOM
2. 2026-06-17
   days on market $895,000 Active 55 DOM
3. 2026-06-16
   days on market $895,000 Active 54 DOM
4. 2026-06-15
   days on market $895,000 Active 53 DOM
5. 2026-06-13
   days on market $895,000 Active 51 DOM
6. 2026-06-09
   days on market $895,000 Active 47 DOM
7. 2026-06-08
   days on market $895,000 Active 46 DOM
8. 2026-06-07
   days on market $895,000 Active 45 DOM
9. 2026-06-04
   days on market $895,000 Active 42 DOM
10. 2026-06-03
    days on market $895,000 Active 41 DOM
11. 2026-06-02
    days on market $895,000 Active 40 DOM
12. 2026-06-01
    days on market $895,000 Active 39 DOM
13. 2026-05-31
    days on market $895,000 Active 38 DOM
14. 2026-04-23
    listed $895,000 Active
15. 1991-06-03
    soldstatus $125,000
16. 1977-07-01
    soldstatus $100,000

ⓘ 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: $13,974 · $1,164/mo
• Projected year-2 tax: $13,974 · $1,164/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 4/10 Moderate FEMA zone AE · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 💨 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: $103,392
• − Mortgage interest: −$50,134
• − Property taxes: −$13,974
• − Insurance: −$9,594
• − Repairs & maintenance: −$8,271
• − Management: −$8,271
• − Depreciation: −$26,036
• Taxable loss: −$12,888
• Est. tax savings @ 24.0%: +$3,093
• After-tax cash flow: $4,884/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): 58,908
• Household income: $39,608
• Rent vs Own: 70.8% rent · 29.2% own
• Severe rent burden: 5748.0

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 (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 36% Black 28% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 24% Dominican 7%
• Common ancestry: Hispanic 2%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 64% French/Haitian/Cajun 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: ▼ -102.31%
• Current HPI: 574.9225
• Rent YoY: ▼ -0.41%
• 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

+795.0% since first listed

3 events — show timeline

• 2026-04-23 Listed $895,000 MARMLS
• 1991-06-03 Sold (Public Records) $125,000 Public Records
• 1977-07-01 Sold (Public Records) $100,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $13,974 · +1.2% YoY. Source: county tax records.