8111 NE 1st Ave · Miami, FL 33138

$650,000

3 bd · 1.0 ba · 1,536 sqft · MultiFamily public records · 152 Days on market

Built 1921 7,250 sqft lot

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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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.5/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• 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

Income-producing duplex located in the heart of Miami. The property consists of a main residence with 5 bedrooms and 2 bathrooms, and a detached unit with 2 bedroom and 1 bathroom. Both units are tenant occupied on month-to-month leases. No HOA. Property requires repairs and general TLC. Roof on the main house may need replacement. Buyer to verify condition, zoning, and use. Ideal opportunity for investors or owner-occupants.

Key facts

• Tenant occupied
• General tlc
• No hoa

Tags

• INCOME-PRODUCING DUPLEX
• TENANT OCCUPIED
• NO HOA
• REQUIRES REPAIRS
• GENERAL TLC

Property features AI

Finance

• Other: No land lease
• Financial info: Duplex with 2 total units; Two units in the community; Tenants pay cable TV, electricity, sewer and water; Pets allowed with no restrictions

Exterior

• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Sewer available; Water available; Two separate water meters
• Home design: Duplex; One story; Resale property; Building faces west
• Construction: CBS and wood frame construction; Other roof type; Built on a foundation (public records listed building area 2,176–2,216)
• Exterior features: Open patio; Patio; Fenced yard; Sidewalks; Irregular lot shape; City street frontage (west of US-1); Not waterfront

Interior

• Flooring: Tile
• Bathrooms: 3 bathrooms total
• Heating & cooling: Window/wall heating; Ceiling fans; Wall/window cooling units
• Interior features: Tile flooring; Blinds and drapes on windows

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $535/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $650k).
• Recommended offer: $572k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 flat; 368 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $6,819/mo this rent would consume 109% of the median local household income ($75k/yr) (locally 2049% 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 $20k 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 152 days — a 12% lower offer ($572k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $75k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $650k implies a 465% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $572,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 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 1921 — 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: 1.05% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.05%
• DSCR: 1.31
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $408,576
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
351 NE 82nd St	0.32mi	4/2.0 (+1)	1,596 (+4%)	23mo	$425,000	$266	51

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 · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.70×
• Total profit: $-55,029
• Equity at exit: $96,917

10-year hold

• IRR: -2.7%
• Equity multiple: 0.84×
• Total profit: $-29,597
• Equity at exit: $56,200

Cash invested: $182,000 (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 33138

• Rents YoY: 0.3%
• Active inventory: 368
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $6,819 medium
• Mortgage (P&I): −$3,409
• Tax from tax record: −$638 /mo · $7,650/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,432
• Net cashflow: $1,070

Break-even live

Break-even rent $5,465

Max offer price $650,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,438	-5% $1,254	+0% $1,070	+5% $886	+10% $702
Rent	-10% $531	-5% $801	+0% $1,070	+5% $1,339	+10% $1,609
Rate	-1.0pp $1,397	-0.5pp $1,235	base $1,070	+0.5pp $902	+1.0pp $730

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,818
Total (2 units)			$6,819

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $650,000 Active 152 DOM
2. 2026-06-17
   days on market $650,000 Active 151 DOM
3. 2026-06-16
   days on market $650,000 Active 150 DOM
4. 2026-06-15
   days on market $650,000 Active 149 DOM
5. 2026-06-13
   pricedays on market $650,000 Active 147 DOM
6. 2026-06-09
   days on market $688,000 Active 143 DOM
7. 2026-06-08
   days on market $688,000 Active 142 DOM
8. 2026-06-07
   days on market $688,000 Active 141 DOM
9. 2026-06-04
   days on market $688,000 Active 138 DOM
10. 2026-06-03
    days on market $688,000 Active 137 DOM
11. 2026-06-02
    days on market $688,000 Active 136 DOM
12. 2026-06-01
    days on market $688,000 Active 135 DOM
13. 2026-05-31
    days on market $688,000 Active 134 DOM
14. 2026-04-22
    price $688,000
15. 2026-04-10
    price $689,000
16. 2026-02-11
    price $699,000
17. 2026-01-16
    listed $725,000 Active
18. 2015-04-24
    soldstatus $115,000
19. 2015-03-31
    soldstatus $92,500
20. 2015-03-15
    historical
21. 2014-10-23
    price $120,000
22. 2014-03-25
    listed $172,000 Active
23. 2005-03-28
    soldstatus $110,100
24. 2005-03-28
    soldstatus $135,000
25. 1999-08-19
    soldstatus $35,000
26. 1999-08-18
    soldstatus $75,000
27. 1980-05-01
    soldstatus $33,900

ⓘ 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: $7,650 · $638/mo
• Projected year-2 tax: $7,650 · $638/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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 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: $81,828
• − Mortgage interest: −$36,410
• − Property taxes: −$7,650
• − Insurance: −$3,250
• − Repairs & maintenance: −$6,546
• − Management: −$6,546
• − Depreciation: −$18,909
• Taxable income: $2,516
• Est. tax owed @ 24.0%: −$604
• After-tax cash flow: $12,236/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): 28,980
• Household income: $75,051
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 2049.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% White 29% Black 29% Two or more races 21% Asian 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 11% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 16% Estonian 2% Lithuanian 2%
• Foreign-born: 41% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 39% French/Haitian/Cajun 19% Other Indo-European 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: ▼ -890.01%
• Current HPI: 551.4791
• Rent YoY: ▲ 0.33%
• 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

+1929.5% since first listed

14 events — show timeline

• 2026-04-22 Price Changed $688,000 Beaches MLS
• 2026-04-10 Price Changed $689,000 Beaches MLS
• 2026-02-11 Price Changed $699,000 Beaches MLS
• 2026-01-16 Listed $725,000 Beaches MLS
• 2015-04-24 Sold (Public Records) $115,000 Public Records
• 2015-03-31 Sold (Public Records) $92,500 Public Records
• 2015-03-15 Listing Removed — MARMLS
• 2014-10-23 Price Changed $120,000 MARMLS
• 2014-03-25 Listed $172,000 MARMLS
• 2005-03-28 Sold (Public Records) $135,000 Public Records
• 2005-03-28 Sold (Public Records) $110,100 Public Records
• 1999-08-19 Sold (Public Records) $35,000 Public Records
• 1999-08-18 Sold (Public Records) $75,000 Public Records
• 1980-05-01 Sold (Public Records) $33,900 Public Records

Property tax history

+5.5%/yr

Latest (2025): $7,650 · +3.8% YoY. Source: county tax records.