4727 NE 1st Ct · Miami, FL 33137

$2,185,000

2 bd · 1.0 ba · 1,395 sqft · MultiFamily public records · 475 Days on market

Built 1945

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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 +17.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• 1% rule +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Here’s your chance to own an amazing investment property at 4727 NE 1st Court, right in the heart of the vibrant Design District! This property has so much potential—it’s spacious, modern, and surrounded by everything that makes this neighborhood one of Miami’s most exciting spots. Imagine being steps away from trendy boutiques, art galleries, and incredible restaurants while having the opportunity to create something truly special. Whether you’re thinking about renovating, renting, or holding onto it as a long-term investment, this is the kind of property that doesn’t come around often. Don’t miss out—schedule a showing today and see for your

Key facts

• 3 parking spots
• Built 1945
• Listed 474 days

Property features AI

Finance

• Financial info: Multiple rental units with current rents: two 2-bed/1-bath units at $2,500 each and three 3-bed/1-bath units at $4,500 (units are month-to-month)

Exterior

• Parking: Total of 3 parking spaces
• Utilities: Cable available; Public sewer; Water included with some rents
• Home design: Two-story building; Resale property; Barrel roof; Block construction
• Construction: Block construction; Barrel roof
• Exterior features: Less than quarter-acre lot

Interior

• Kitchen: Kitchen in each unit
• Bedrooms: Two-bedroom units (multiple units listed)
• Flooring: Tile
• Bathrooms: Full bathrooms (one full bathroom in each unit)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.2-bath units multifamily listed at $2.19M.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $412/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.86M (15.0% below list).
• Recommended offer: $1.86M (15.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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 (+2.7%/yr); 757 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($15k loan paydown + $6k appreciation (0.3% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.3% appreciation + 2.7% rent growth), your $612k cash investment doubles in ~10 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$137k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 475 days — a 12% lower offer ($1.92M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask is 9% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $60k; list at $2.19M implies a 3542% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $1,858,300 (15.0% below list)

Questions for the listing agent

1. It's been on market 475 days. Have you received any prior offers? Is the seller open to a 15% 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 1945 — 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: 0.85% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.24%
• DSCR: 1.14
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.10×
• Total profit: $63,217
• Equity at exit: $664,324

10-year hold

• IRR: 7.1%
• Equity multiple: 1.79×
• Total profit: $484,524
• Equity at exit: $822,790

Cash invested: $611,800 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 757
• Price-to-rent: 39.2×

Monthly cashflow live

• Estimated rent: $18,583 medium
• Mortgage (P&I): −$11,458
• Tax from tax record: −$662 /mo · $7,942/yr
• Insurance: −$910
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,902
• Net cashflow: $1,650

Break-even live

Break-even rent $16,494

Max offer price $2,185,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1.2	$18,584
Total (4 units)			$18,583

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: $546,250
• Closing costs: $65,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$8,630	$3.25	1d	19	0.76mi
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$13,305	$10.56	1d	13	1.01mi

Listing history 21 events

1. 2026-06-18
   days on market $2,185,000 Active 475 DOM
2. 2026-06-17
   days on market $2,185,000 Active 474 DOM
3. 2026-06-16
   days on market $2,185,000 Active 473 DOM
4. 2026-06-15
   days on market $2,185,000 Active 472 DOM
5. 2026-06-13
   days on market $2,185,000 Active 470 DOM
6. 2026-06-09
   days on market $2,185,000 Active 466 DOM
7. 2026-06-08
   days on market $2,185,000 Active 465 DOM
8. 2026-06-08
   days on market $2,185,000 Active 464 DOM
9. 2026-06-04
   days on market $2,185,000 Active 461 DOM
10. 2026-06-03
    days on market $2,185,000 Active 460 DOM
11. 2026-06-02
    days on market $2,185,000 Active 459 DOM
12. 2026-06-01
    days on market $2,185,000 Active 458 DOM
13. 2026-05-31
    days on market $2,185,000 Active 457 DOM
14. 2025-02-28
    price $2,185,000
15. 2025-02-28
    listed $1,999,000 Active
16. 2016-04-26
    historical
17. 2016-04-26
    status Pending
18. 2016-04-26
    historical
19. 2016-01-04
    listed $699,000 Active
20. 2015-10-18
    listed $699,000 Active
21. 1985-03-01
    soldstatus $60,000

ⓘ 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: $7,942 · $662/mo
• Projected year-2 tax: $18,136 · $1,511/mo
• Expected delta: +$10,194/yr (+$849/mo · 128.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $222,996
• − Mortgage interest: −$122,394
• − Property taxes: −$7,942
• − Insurance: −$10,925
• − Repairs & maintenance: −$17,840
• − Management: −$17,840
• − Depreciation: −$63,564
• Taxable loss: −$17,508
• Est. tax savings @ 24.0%: +$4,202
• After-tax cash flow: $24,001/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): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 3106.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% Other Indo-European 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: ▲ 0.27%
• Current HPI: 385.1514
• Rent YoY: ▲ 2.73%
• 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

+3541.7% since first listed

8 events — show timeline

• 2025-02-28 Price Changed $2,185,000 MARMLS
• 2025-02-28 Listed $1,999,000 MARMLS
• 2016-04-26 Listing Removed — MARMLS
• 2016-04-26 Pending — MARMLS
• 2016-04-26 Listing Removed — MARMLS
• 2016-01-04 Listed $699,000 MARMLS
• 2015-10-18 Listed $699,000 MARMLS
• 1985-03-01 Sold (Public Records) $60,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $7,942 · +1.3% YoY. Source: county tax records.