10040 NW 8th Ave · Pinewood, FL 33150

$619,999

3 bd · 2.0 ba · 1,111 sqft · MultiFamily public records · 10 Days on market

Built 1949

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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 +10.4/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• 1% rule +3.4/10.0
• DSCR +3.0/10.0
• 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: 3 units. confirmed

Listing remarks MLS

Triplex ready for sale! Primary land use is up to 9 units. Home currently being used a triplex. Front home is a 2/1, attached to this home is a 1/1 apartment and the back home is a 2/1.

Key facts

• Cashflowing property
• 5 parking spots
• Built 1949

Tags

• INVESTMENT OPPORTUNITY
• INCOME PRODUCING PROPERTY
• IMMEDIATE RENTAL INCOME
• CASHFLOWING PROPERTY

Property features AI

Finance

• Other: Zoning description: 5700
• Financial info: Rents: One unit at $1,150; two units at $2,100 each; All units are month-to-month
• HOA & community: HOA/community details not provided

Exterior

• Parking: Open parking with 5 total parking spaces
• Security: Security details not provided
• Utilities: Cable available; Public sewer
• Home design: Single-story building
• Construction: Block construction; Composition/Shingle roof; Effective year built
• Exterior features: Open parking (total 5 parking spaces); Florida room (in one unit); Patio/porch (in one unit); Less than quarter acre lot

Interior

• Kitchen: Kitchens included in units
• Bedrooms: One 1-bedroom unit (month-to-month); Two 2-bedroom units (each month-to-month)
• Flooring: Tile
• Bathrooms: Three full bathrooms (one in each unit)
• Heating & cooling: Central heating and cooling; Wall furnace; Wall/window cooling units
• Interior features: Tile flooring
• Laundry & utility: Laundry/utility details not provided

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $620k.

Deal economics

• At list price, monthly cash flow is $-329 ($-4k/yr) — negative. Per door: $-110/mo.
• To cash-flow at today's rent, offer at most $562k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $522k (15.8% below list).
• Recommended offer: $522k (15.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#124 in FL, #1,871 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, cost of living A; Watch: employment D, amenities 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 (-0.8%/yr); 180 active listings in the ZIP; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $5,219/mo this rent would consume 153% of the median local household income ($41k/yr) (locally 2384% 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 $19k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 11y 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 $394k; list at $620k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $521,900 (15.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.27%
• DSCR: 0.90
• GRM: 9.9

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: -23.6%
• Equity multiple: 0.21×
• Total profit: $-136,516
• Equity at exit: $92,444

10-year hold

• IRR: -30.3%
• Equity multiple: -0.18×
• Total profit: $-204,205
• Equity at exit: $53,606

Cash invested: $173,600 (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 33150

• Rents YoY: -0.8%
• Active inventory: 180
• Price-to-rent: 28.5×

Monthly cashflow live

• Estimated rent: $5,219 medium
• Mortgage (P&I): −$3,251
• Tax from tax record: −$942 /mo · $11,305/yr
• Insurance: −$258
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,096
• Net cashflow: $-329

Break-even live

Break-even rent $5,635

Max offer price $561,931

Occupancy floor —

Sensitivity live

Price	-10% $22	-5% $-153	+0% $-329	+5% $-504	+10% $-680
Rent	-10% $-741	-5% $-535	+0% $-329	+5% $-123	+10% $84
Rate	-1.0pp $-16	-0.5pp $-171	base $-329	+0.5pp $-489	+1.0pp $-653

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,624
1× unit	1	1	$1,595
Total (3 units)			$5,219

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: $155,000
• Closing costs: $18,600
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $619,999 Active 10 DOM
2. 2026-06-18
   days on market $619,999 Active 7 DOM
3. 2026-06-17
   days on market $619,999 Active 6 DOM
4. 2026-06-16
   days on market $619,999 Active 5 DOM
5. 2026-06-15
   days on market $619,999 Active 4 DOM
6. 2026-06-13
   remarks 537-char remark
7. 2026-06-13
   listed $619,999 Active 2 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: $11,305 · $942/mo
• Projected year-2 tax: $11,305 · $942/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) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 29 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: $62,628
• − Mortgage interest: −$34,730
• − Property taxes: −$11,305
• − Insurance: −$3,100
• − Repairs & maintenance: −$5,010
• − Management: −$5,010
• − Depreciation: −$18,036
• Taxable loss: −$14,563
• Est. tax savings @ 24.0%: +$3,495
• After-tax cash flow: $-449/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 — Pinewood

• Score: 80/100
• State rank: #124
• US rank: #1871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pinewood, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 30,974
• Household income: $40,873
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 2384.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% Hispanic / Latino 30% Two or more races 13% White 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 7% Dominican 2%
• Common ancestry: Hispanic 27%
• Foreign-born: 42% · Canada, Jamaica
• Languages at home: 42% English-only · Spanish 30% French/Haitian/Cajun 27% Other Indo-European 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: ▼ -359.01%
• Current HPI: 552.392
• Rent YoY: ▼ -0.78%
• 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

+1450.0% since first listed

37 events — show timeline

• 2026-06-10 Listed $619,999 MARMLS
• 2025-10-31 Listing Removed — MARMLS
• 2025-07-31 Price Changed $635,000 MARMLS
• 2025-07-16 Relisted — MARMLS
• 2025-07-16 Pending — MARMLS
• 2025-04-24 Listed $650,000 MARMLS
• 2023-05-10 Sold (Public Records) $393,750 Public Records
• 2023-04-21 Sold (MLS) $525,000 MARMLS
• 2023-03-24 Pending — MARMLS
• 2023-02-22 Relisted — MARMLS
• 2023-02-10 Contingent — MARMLS
• 2023-01-17 Price Changed $499,900 MARMLS
• 2023-01-13 Price Changed $550,000 MARMLS
• 2023-01-01 Relisted — MARMLS
• 2022-07-21 Price Changed $575,000 MARMLS
• 2022-07-20 Relisted — MARMLS
• 2022-04-07 Relisted — MARMLS
• 2022-03-17 Pending — MARMLS
• 2022-02-28 Listed $505,000 MARMLS
• 2021-05-20 Sold (Public Records) $349,000 Public Records
• 2021-04-30 Sold (MLS) $349,000 MARMLS
• 2021-03-25 Pending — MARMLS
• 2021-03-23 Listed $349,000 MARMLS
• 2016-06-07 Listing Removed — MARMLS
• 2016-06-06 Listed $199,000 MARMLS
• 2016-03-01 Sold (Public Records) $84,000 Public Records
• 2016-01-29 Sold (MLS) $53,232 MARMLS
• 2016-01-25 Pending — MARMLS
• 2016-01-12 Price Changed $59,900 MARMLS
• 2016-01-07 Relisted — MARMLS
• 2015-12-08 Pending — MARMLS
• 2015-11-10 Relisted — MARMLS
• 2015-10-26 Pending — MARMLS
• 2015-09-03 Listed $63,000 MARMLS
• 1987-01-01 Sold (Public Records) $45,500 Public Records
• 1986-12-01 Sold (Public Records) $45,500 Public Records
• 1982-01-01 Sold (Public Records) $40,000 Public Records

Property tax history

+19.7%/yr

Latest (2025): $11,305 · +5.2% YoY. Source: county tax records.