525 NE 132nd Ter · North Miami, FL 33161

$705,000

4 bd · 2.0 ba · 2,168 sqft · MultiFamily public records · 18 Days on market

Built 1959

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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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.9/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• 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

Charming Duplex with 2-bedrooms, 1-bath and Florida room in North Miami. This light-filled home offers an inviting floor plan with tile floors, an ample space big kitchen, and a spacious living area. Outside, you’ll find a beautiful private patio perfect for entertaining, plus a large driveway with room for up to six cars. Located on a quiet street near NE 135th St and NE 6th Ave, you’ll enjoy quick access to shops, restaurants, major highways, and local parks while still having a peaceful neighborhood feel. Freshly painted and move-in ready, this residence features ample closet space, washer/dryer connections. Barry University, grocery stores, and public transit are all within

Key facts

• Quiet street
• Large driveway
• Public transit

Tags

• FLORIDA ROOM
• PRIVATE PATIO
• LARGE DRIVEWAY
• QUIET STREET
• QUICK ACCESS TO SHOPS
• PUBLIC TRANSIT

Property features AI

Finance

• Financial info: Current actual rent: $4,900 (for the listed unit type); Rent includes gardener

Exterior

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

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: Two 2-bedroom units
• Flooring: Tile
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Double-hung and metal windows; Tile flooring
• Laundry & utility: Hot water included with rent

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $705k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $629/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $705k).
• Recommended offer: $694k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.1% in North 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, 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.
• Market conditions: Rents soft (-0.7%/yr); 338 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $7,691/mo this rent would consume 158% of the median local household income ($58k/yr) (locally 3226% 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 $5k of loan paydown is wiped out by about $21k 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 18 days — a 2% lower offer ($694k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 6y ago 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 $375k; list at $705k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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 $694,425 (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 1959 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.65%
• DSCR: 1.34
• GRM: 7.6

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: -8.0%
• Equity multiple: 0.71×
• Total profit: $-56,532
• Equity at exit: $105,118

10-year hold

• IRR: -2.9%
• Equity multiple: 0.83×
• Total profit: $-32,772
• Equity at exit: $60,956

Cash invested: $197,400 (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 33161

• Rents YoY: -0.7%
• Active inventory: 338
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $7,691 medium
• Mortgage (P&I): −$3,697
• Tax from tax record: −$826 /mo · $9,916/yr
• Insurance: −$294
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,615
• Net cashflow: $1,259

Break-even live

Break-even rent $6,098

Max offer price $705,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$7,690
Total (2 units)			$7,691

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: $176,250
• Closing costs: $21,150
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $705,000 Active 18 DOM
2. 2026-06-17
   days on market $705,000 Active 17 DOM
3. 2026-06-16
   days on market $705,000 Active 16 DOM
4. 2026-06-15
   days on market $705,000 Active 15 DOM
5. 2026-06-13
   days on market $705,000 Active 13 DOM
6. 2026-06-09
   days on market $705,000 Active 9 DOM
7. 2026-06-08
   days on market $705,000 Active 8 DOM
8. 2026-06-07
   days on market $705,000 Active 7 DOM
9. 2026-06-04
   days on market $705,000 Active 4 DOM
10. 2026-06-03
    days on market $705,000 Active 3 DOM
11. 2026-06-02
    days on market $705,000 Active 2 DOM
12. 2026-06-01
    remarks 687-char remark
13. 2026-06-01
    listed $705,000 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: $9,916 · $826/mo
• Projected year-2 tax: $9,916 · $826/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 X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $92,292
• − Mortgage interest: −$39,491
• − Property taxes: −$9,916
• − Insurance: −$3,525
• − Repairs & maintenance: −$7,383
• − Management: −$7,383
• − Depreciation: −$20,509
• Taxable income: $4,084
• Est. tax owed @ 24.0%: −$980
• After-tax cash flow: $14,124/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 — North Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

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 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% Other Indo-European 2%

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: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• 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

+66.9% since first listed

23 events — show timeline

• 2026-05-19 Listed $705,000 MARMLS
• 2026-03-25 Listed for Rent $2,550 LISTANZA
• 2026-03-14 Rental Removed $2,550 LISTANZA
• 2026-01-01 Listed for Rent $2,550 LISTANZA
• 2025-12-21 Rental Removed $2,550 LISTANZA
• 2025-12-18 Listed for Rent $2,550 LISTANZA
• 2025-12-12 Rental Removed $2,550 LISTANZA
• 2025-12-11 Listed for Rent $2,550 LISTANZA
• 2025-08-05 Rental Removed $2,700 MARMLS
• 2025-07-16 Listing Removed — MARMLS
• 2025-05-31 Price Changed $2,700 MARMLS
• 2025-05-21 Price Changed $2,900 MARMLS
• 2025-04-30 Listed for Rent $3,200 MARMLS
• 2025-04-30 Price Changed $725,000 MARMLS
• 2025-04-30 Relisted — MARMLS
• 2025-04-17 Rental Removed $3,200 MARMLS
• 2025-03-24 Price Changed $750,000 MARMLS
• 2025-03-18 Listed for Rent $3,200 MARMLS
• 2025-03-06 Listed $800,000 MARMLS
• 2021-04-14 Sold (Public Records) $375,000 Public Records
• 2020-08-19 Listing Removed — MARMLS
• 2020-08-04 Price Changed $399,000 MARMLS
• 2020-07-13 Listed $422,500 MARMLS

Property tax history

+12.0%/yr

Latest (2025): $9,916 · +6.7% YoY. Source: county tax records.