821 SW 11th St · Miami, FL 33129

$738,000

4 bd · 2.0 ba · 1,938 sqft · MultiFamily public records · 18 Days on market

Built 1947 Est $1316k · 44% under

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Why this score? — see what drove the B- 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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.2/10.0
• Appreciation +4.4/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

$4,450.00 RENTAL INCOME PRODUCING DUPLEX. GREAT PAYING TENANTS. ONE 2 BEDS+DEN (AS ROOM 3) / 1 BATH UNIT IN SECTION 8 (7/30/25lease begin$2,500/m) 1 BEDS+ DEN (AS ROOM 2) /1 BATH UNIT ($1,950 m/m) . SUPERB LOCATION . NEAR BRICKELL. 2023 NEWER ROOF ALL PAID OFF. USE SHOWING ASSIST. WED & FRI between 11-12 noon SHOWINGS ONLY. 48 hrs Advance notice. TENANT OCCUPIED. SEPARATE METERS TENANTS PAY ELECTRICAL. SERIOUS BUYERS ONLY. NO LOW BALLERS. DONT WASTE TIME. All offers must have PROOF OF FUNDS/SOLID PRE APPROVAL. Thanks

Key facts

• Newer roof
• 3 parking spots
• Built 1947

Tags

• RENTAL INCOME PRODUCING DUPLEX
• NEWER ROOF

Property features AI

Finance

• Financial info: Rent includes water, sewer, and trash collection; Unit rents listed: one unit at $1,950 and one unit at $2,500 (both units are leased)

Exterior

• Parking: Three parking spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable not available
• Home design: Single-story building; Block construction; Spanish tile roof; Effective year built
• Construction: Block construction; Spanish tile roof; Single-story
• Exterior features: Fenced yard; Patio

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: Two-bedroom units (each unit has 2 bedrooms)
• Flooring: Hardwood; Tile; Wood
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Central air; Ceiling fans; Electric cooling
• Interior features: Hardwood, tile, and wood flooring; Family room; Patio/porch; Smoke detector; Circuit breaker
• Laundry & utility: Electric meter

🏷️ Possibly a rental listed for sale. The $738,000 price doesn't fit this home's estimated sale value (~$1,315,902) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $738k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $665/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $738k).
• Recommended offer: $727k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 (+2.2%/yr); 234 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $8,243/mo this rent would consume 87% of the median local household income ($113k/yr) (locally 655% 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 (-1.2%/yr); year-one equity from $5k of loan paydown is wiped out by about $9k 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.
• At projected returns (-1.2% appreciation + 2.2% rent growth), your $207k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($727k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $52k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $738k implies a 677% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $726,930 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $1,315,902
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
444 SW 26th Rd	0.44mi	4/3.0	1,812 (-6%)	11mo	$1,230,000	$679	55

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

Projected returns pro-forma

-1.16% appreciation · 2.23% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.09×
• Total profit: $17,772
• Equity at exit: $172,611

10-year hold

• IRR: 8.1%
• Equity multiple: 1.75×
• Total profit: $154,437
• Equity at exit: $176,581

Cash invested: $206,640 (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 33129

• Home prices YoY: -0.3%
• Rents YoY: 2.2%
• Active inventory: 234
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $8,243 medium
• Mortgage (P&I): −$3,870
• Tax from tax record: −$1,004 /mo · $12,053/yr
• Insurance: −$308
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,731
• Net cashflow: $1,330

Break-even live

Break-even rent $6,560

Max offer price $738,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$4,026
1× unit	1	1	$4,217
Total (2 units)			$8,243

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: $184,500
• Closing costs: $22,140
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 SW 3rd St #12 Miami, FL	3.0	3.5	2418	$18,000	$7.44	4d	1	0.94mi
1000 Brickell Plz Miami, FL	3.0–6.0	3.5–5.5	3692	$29,867	$8.09	10d	2	0.96mi
1000 Brickell Plz Miami, FL	3.0–6.0	3.5–5.5	3486	$31,333	$8.99	24d	2	0.96mi
1000 Brickell Plz Miami, FL	3.0–6.0	4.5–5.5	3795	$28,667	$7.55	2d	2	0.96mi
175 SE 25th Rd #3403 Miami, FL	3.0	3.5	1946	$21,000	$10.79	14d	1	1.03mi
175 SE 25th Rd Unit 3104 Miami, FL	3.0	3.5	1946	$25,000	$12.85	7d	1	1.04mi
175 SE 25th Rd Unit 3104 Miami, FL	3.0	3.5	1946	$25,000	$12.85	24d	1	1.04mi
175 SE 25th Rd Apt 602 Miami, FL	3.0	3.5	2105	$20,000	$9.50	24d	1	1.04mi
175 SE 25th Rd Unit 1904 Miami, FL	3.0	3.5	1946	$18,900	$9.71	16d	1	1.04mi
290 Shore Dr E #290 Miami, FL	4.0	4.0	2314	$18,500	$7.99	10d	1	1.24mi
200 Biscayne Boulevard Way #5001 Miami, FL	3.0	3.5	2457	$20,000	$8.14	24d	1	1.29mi
300 Biscayne Boulevard Way Unit 4502E Miami, FL	3.0	3.5	2220	$25,000	$11.26	20d	1	1.38mi
300 Biscayne Boulevard Way #2306 Miami, FL	3.0	3.0	1600	$19,000	$11.88	11d	1	1.38mi
300 Biscayne Boulevard Way Unit 4007W Miami, FL	3.0	3.0	2126	$19,000	$8.94	24d	1	1.38mi
300 Biscayne Boulevard Way Unit 2802E Miami, FL	3.0	3.5	2220	$21,000	$9.46	24d	1	1.38mi
300 Biscayne Boulevard Way Unit 1902E Miami, FL	3.0	3.5	2220	$18,000	$8.11	2d	1	1.38mi

Listing history 8 events

1. 2026-05-04
   status Pending
2. 2026-04-28
   price $738,000
3. 2026-04-27
   status Active
4. 2026-04-13
   status Pending
5. 2026-04-02
   listed $790,000 Active
6. 1990-08-16
   soldstatus $95,000
7. 1986-03-01
   soldstatus $60,000
8. 1978-09-01
   soldstatus $50,000

ⓘ 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: $12,053 · $1,004/mo
• Projected year-2 tax: $12,053 · $1,004/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 3/10 Moderate FEMA zone X (unshaded) · 13% 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: $98,916
• − Mortgage interest: −$41,339
• − Property taxes: −$12,053
• − Insurance: −$3,690
• − Repairs & maintenance: −$7,913
• − Management: −$7,913
• − Depreciation: −$21,469
• Taxable income: $4,538
• Est. tax owed @ 24.0%: −$1,089
• After-tax cash flow: $14,870/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): 14,702
• Household income: $113,367
• Rent vs Own: 53.2% rent · 46.8% own
• Severe rent burden: 655.0

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 (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 48% White 19% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 25% Dominican 2% Salvadoran 3%
• Common ancestry: Lithuanian 3% Estonian 3% Italian 1%
• Foreign-born: 58% · Canada, Jamaica, Dominican Republic
• Languages at home: 15% English-only · Spanish 73% Other Indo-European 5% French/Haitian/Cajun 4%

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: ▼ -1.16%
• Current HPI: 366.9874
• Rent YoY: ▲ 2.23%
• 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

+1376.0% since first listed

8 events — show timeline

• 2026-05-04 Pending — MARMLS
• 2026-04-28 Price Changed $738,000 MARMLS
• 2026-04-27 Relisted — MARMLS
• 2026-04-13 Pending — MARMLS
• 2026-04-02 Listed $790,000 MARMLS
• 1990-08-16 Sold (Public Records) $95,000 Public Records
• 1986-03-01 Sold (Public Records) $60,000 Public Records
• 1978-09-01 Sold (Public Records) $50,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $12,053 · +1.4% YoY. Source: county tax records.