6930 NW 15th Ave · Miami, FL 33147

$200,000

6 bd · 4.0 ba · 1,687 sqft · MultiFamily · 20 Days on market

Built 1948 Poor condition ↓ 49% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.3/5.0
• Condition / age +1.0/5.0
• 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

"VACANT LIBERTY CITY DUPLEX – POSSIBLE 8-UNIT DEVELOPMENT SITE Legal duplex in Liberty City. Front unit: 3BR/2BA + office. Rear unit: 1BR/1BA. Approx. 1,687 SF building on 2,500 SF lot. No liens, code fines, or demolition orders. Due diligence documents and contractor estimate available. Property sold AS-IS. Cash only. Buyer assumes expired/open permits. 5-day inspection period. Excellent value-add or redevelopment opportunity. T4-O zoning allows mixed-use development and may qualify for up to 8 units under Live Local (buyer to verify). Offered at $200,000. Property sold AS-IS. Cash buyers only. Buyer to assume any expired/open permits. 5-day inspection period.

Key facts

• Legal duplex
• T4 o zoning
• Built 1948

Tags

• LEGAL DUPLEX
• T4 O ZONING
• MIXED USE DEVELOPMENT

Property features AI

Finance

• Financial info: Multifamily: two units (one 3-bed/2-bath renting for $1,150; one 1-bed/1-bath renting for $500)

Exterior

• Parking: On-street parking available; One unit lists a den
• Utilities: Public sewer; Cable not available
• Home design: Single-story property; Block construction; Effective year built reported
• Construction: Block construction
• Exterior features: Less than quarter acre lot

Interior

• Bedrooms: One unit with 3 bedrooms; One unit with 1 bedroom
• Flooring: Ceramic tile
• Bathrooms: One unit with 2 full bathrooms; One unit with 1 full bathroom
• Interior features: Ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/2.0-bath units multifamily listed at $200k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.7% 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 (-0.7%/yr); 230 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $5,220/mo this rent would consume 124% of the median local household income ($51k/yr) (locally 2419% 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 $1k of loan paydown is wiped out by about $6k 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 (-3.0% appreciation + 0.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,000 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1948 — 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. 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?
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: 2.61% ✓
• Cap rate: 22.74%
• Cash-on-cash: 58.75%
• DSCR: 3.61
• GRM: 3.2

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: 53.9%
• Equity multiple: 3.27×
• Total profit: $126,989
• Equity at exit: $29,821

10-year hold

• IRR: 57.9%
• Equity multiple: 5.94×
• Total profit: $276,627
• Equity at exit: $17,292

Cash invested: $56,000 (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 33147

• Home prices YoY: -30.9%
• Rents YoY: -0.7%
• Active inventory: 230
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $5,220 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,096
• Net cashflow: $2,742

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 42%

Sensitivity live

Price	-10% $2,880	-5% $2,811	+0% $2,742	+5% $2,673	+10% $2,603
Rent	-10% $2,329	-5% $2,535	+0% $2,742	+5% $2,948	+10% $3,154
Rate	-1.0pp $2,842	-0.5pp $2,793	base $2,742	+0.5pp $2,690	+1.0pp $2,637

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	2	$5,220
Total (2 units)			$5,220

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $200,000 Active 20 DOM
2. 2026-06-18
   days on market $200,000 Active 17 DOM
3. 2026-06-17
   days on market $200,000 Active 16 DOM
4. 2026-06-16
   days on market $200,000 Active 15 DOM
5. 2026-06-15
   days on market $200,000 Active 14 DOM
6. 2026-06-13
   days on market $200,000 Active 12 DOM
7. 2026-06-09
   days on market $200,000 Active 8 DOM
8. 2026-06-08
   days on market $200,000 Active 7 DOM
9. 2026-06-07
   days on market $200,000 Active 6 DOM
10. 2026-06-04
    days on market $200,000 Active 3 DOM
11. 2026-06-03
    days on market $200,000 Active 2 DOM
12. 2026-06-02
    remarks 669-char remark
13. 2026-06-02
    listed $200,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $62,640
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$5,011
• − Management: −$5,011
• − Depreciation: −$5,818
• Taxable income: $31,596
• Est. tax owed @ 24.0%: −$7,583
• After-tax cash flow: $25,317/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and renovations to bring it up to a livable condition. Significant structural and exterior work is needed, along with updates to the interior and HVAC systems. Potential buyers should be aware of the extensive work required.

Repairs flagged

• Major Kitchen cabinets — The cabinets are unfinished and in need of complete replacement.
• Major Bathroom fixtures — The fixtures are outdated and need to be replaced.
• Major Roof repair — The roof shows significant damage and needs to be replaced.
• Major Exterior siding repair — The siding is peeling and needs to be replaced or repaired.
• Major Windows repair — The windows are damaged and need to be replaced.
• Major HVAC and mechanical systems — The systems are outdated and need to be replaced or repaired.

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the property's value.
• Resale Bathroom renovation — Upgraded bathrooms will appeal to potential buyers and increase the property's value.
• Both Exterior siding and roof repair — These repairs will improve the property's curb appeal and increase its value.
• Both HVAC and mechanical systems replacement — Modern systems will improve the property's functionality and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets are unfinished and in need of complete replacement.	Major	$15,000–50,000
Bathroom fixtures · The fixtures are outdated and need to be replaced.	Major	$15,000–50,000
Roof repair · The roof shows significant damage and needs to be replaced.	Major	$15,000–50,000
Exterior siding repair · The siding is peeling and needs to be replaced or repaired.	Major	$15,000–50,000
Windows repair · The windows are damaged and need to be replaced.	Major	$15,000–50,000
HVAC and mechanical systems · The systems are outdated and need to be replaced or repaired.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the property's value. ↑
• Resale Bathroom renovation — Upgraded bathrooms will appeal to potential buyers and increase the property's value. ↑
• Both Exterior siding and roof repair — These repairs will improve the property's curb appeal and increase its value. ↑
• Both HVAC and mechanical systems replacement — Modern systems will improve the property's functionality and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 50,419
• Household income: $50,704
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 2419.0

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 Hispanic (52%)
• Race & ethnicity: Hispanic / Latino 52% Black 46% Two or more races 22% White 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 24% Dominican 4%
• Common ancestry: Hispanic 5%
• Foreign-born: 39% · Canada, Jamaica, Dominican Republic
• Languages at home: 45% English-only · Spanish 50% French/Haitian/Cajun 5%

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: ▼ -286.84%
• Current HPI: 642.2677
• Rent YoY: ▼ -0.71%
• 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

-49.4% since first listed

19 events — show timeline

• 2026-05-29 Listed $200,000 MARMLS
• 2025-07-03 Pending — MARMLS
• 2025-07-03 Listing Removed — MARMLS
• 2025-06-24 Price Changed $230,000 MARMLS
• 2025-06-24 Relisted — MARMLS
• 2025-06-18 Pending — MARMLS
• 2025-05-14 Price Changed $290,000 MARMLS
• 2025-01-28 Relisted — MARMLS
• 2025-01-27 Relisted — MARMLS
• 2025-01-27 Price Changed $350,000 MARMLS
• 2025-01-27 Listing Removed — MARMLS
• 2025-01-20 Listing Removed — MARMLS
• 2024-08-06 Price Changed $379,000 MARMLS
• 2024-07-31 Price Changed $385,000 MARMLS
• 2024-03-06 Price Changed $395,000 MARMLS
• 2024-03-06 Listed $200,000 MARMLS
• 2023-12-29 Listing Removed — MARMLS
• 2023-09-29 Price Changed $420,000 MARMLS
• 2023-09-13 Listed $395,000 MARMLS