1701 SW 21st St · Miami, FL 33145

$827,000

4 bd · 2.0 ba · 1,899 sqft · MultiFamily public records · 314 Days on market

Built 1954

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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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• 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

Exceptional opportunity to own a meticulously maintained, corner-lot duplex in the highly sought-after Shenandoah neighborhood. Perfect for a savvy investor looking for a high-performing asset or an owner-occupant looking to live in one side while collecting passive income from the other. Each bright and spacious 2-bedroom, 1-bathroom unit features: A versatile spare room / den (perfect for a home office or guest room) Beautiful hardwood floors and an open, airy layout Generous bedroom sizes with excellent closet space Separate, private fenced yards—perfect for pets or outdoor dining Dedicated parking spaces per unit Property & Financial Highlights: Turnkey income produ

Key facts

• Open layout
• Spare room
• Hardwood floors

Tags

• CORNER-LOT DUPLEX
• SPARE ROOM
• HARDWOOD FLOORS
• OPEN LAYOUT
• PRIVATE FENCED YARDS
• PROPRIETARY PARKING SPACES

Property features AI

Finance

• Financial info: Total actual rent: $61,200 per year; Unit rents: one unit at $2,600/month; two units at $2,500/month (one of those is month-to-month); Some units are leased

Exterior

• Parking: Total of 4 parking spaces; Carport
• Security: Cable available
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Effective year built listed
• Exterior features: Sprinkler system; Less than quarter acre lot; Well irrigation source

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Multiple 2-bedroom units
• Flooring: Hardwood; Wood
• Bathrooms: Multiple units with 1 full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Hardwood or wood floors; Den
• Laundry & utility: Washer; Dryer; Hot water included in rent

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $827k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $827k).
• Recommended offer: $728k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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); 225 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $9,473/mo this rent would consume 154% of the median local household income ($74k/yr) (locally 1517% 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 $6k of loan paydown is wiped out by about $25k 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 314 days — a 12% lower offer ($728k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 32980% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $185k; list at $827k implies a 347% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $727,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 314 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 1954 — 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: 1.15% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.48%
• DSCR: 1.47
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-7,842
• Equity at exit: $123,308

10-year hold

• IRR: 8.5%
• Equity multiple: 1.64×
• Total profit: $148,427
• Equity at exit: $71,504

Cash invested: $231,560 (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 33145

• Rents YoY: 2.7%
• Active inventory: 225
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $9,473 medium
• Mortgage (P&I): −$4,337
• Tax from tax record: −$781 /mo · $9,369/yr
• Insurance: −$345
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,989
• Net cashflow: $2,021

Break-even live

Break-even rent $6,914

Max offer price $827,000

Occupancy floor 74%

Sensitivity live

Price	-10% $2,490	-5% $2,256	+0% $2,021	+5% $1,787	+10% $1,553
Rent	-10% $1,273	-5% $1,647	+0% $2,021	+5% $2,396	+10% $2,770
Rate	-1.0pp $2,438	-0.5pp $2,232	base $2,021	+0.5pp $1,807	+1.0pp $1,589

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$9,472
Total (2 units)			$9,473

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: $206,750
• Closing costs: $24,810
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
290 Shore Dr E #290 Miami, FL	4.0	4.0	2314	$18,500	$7.99	11d	1	0.66mi
1710 SW 27th Ave Unit 1272101P Miami, FL	1.0–5.0	1.0–4.0	1716	$15,843	$9.23	8d	3	1.07mi
175 SE 25th Rd #3403 Miami, FL	3.0	3.5	1946	$21,000	$10.79	16d	1	1.31mi
175 SE 25th Rd Unit 3104 Miami, FL	3.0	3.5	1946	$25,000	$12.85	8d	1	1.32mi
175 SE 25th Rd Unit 1904 Miami, FL	3.0	3.5	1946	$18,900	$9.71	17d	1	1.32mi
175 SE 25th Rd Unit 3104 Miami, FL	3.0	3.5	1946	$25,000	$12.85	25d	1	1.32mi
175 SE 25th Rd Apt 602 Miami, FL	3.0	3.5	2105	$20,000	$9.50	25d	1	1.32mi

Listing history 23 events

1. 2026-06-18
   days on market $827,000 Active 314 DOM
2. 2026-06-17
   days on market $827,000 Active 313 DOM
3. 2026-06-16
   days on market $827,000 Active 312 DOM
4. 2026-06-15
   remarks 689-char remark
5. 2026-06-15
   pricestatusdays on market $827,000 Active 311 DOM
6. 2026-06-13
   days on market $899,000 Active Under Contract 309 DOM
7. 2026-06-09
   days on market $899,000 Active Under Contract 305 DOM
8. 2026-06-08
   days on market $899,000 Active Under Contract 304 DOM
9. 2026-06-08
   days on market $899,000 Active Under Contract 303 DOM
10. 2026-06-04
    days on market $899,000 Active Under Contract 300 DOM
11. 2026-06-03
    days on market $899,000 Active Under Contract 299 DOM
12. 2026-06-02
    days on market $899,000 Active Under Contract 298 DOM
13. 2026-06-01
    days on market $899,000 Active Under Contract 297 DOM
14. 2026-05-31
    days on market $899,000 Active Under Contract 296 DOM
15. 2026-05-01
    historical Active Under Contract
16. 2026-01-08
    price $899,000
17. 2025-09-03
    price $949,000
18. 2025-08-23
    price $2,600
19. 2025-08-22
    listed $2,500
20. 2025-08-08
    listed $979,000 Active
21. 2001-04-26
    soldstatus $185,000
22. 1997-01-21
    soldstatus $158,500
23. 1985-03-01
    soldstatus $90,000

ⓘ 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: $9,369 · $781/mo
• Projected year-2 tax: $9,369 · $781/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 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 · 30 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: $113,676
• − Mortgage interest: −$46,325
• − Property taxes: −$9,369
• − Insurance: −$4,135
• − Repairs & maintenance: −$9,094
• − Management: −$9,094
• − Depreciation: −$24,058
• Taxable income: $11,601
• Est. tax owed @ 24.0%: −$2,784
• After-tax cash flow: $21,473/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): 29,761
• Household income: $73,995
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1517.0

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: Predominantly Hispanic (79%)
• Race & ethnicity: Hispanic / Latino 79% Two or more races 51% White 16% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 41% Dominican 2% Salvadoran 2%
• Common ancestry: Estonian 2% Scotch-Irish 1% Italian 1%
• Foreign-born: 59% · Canada, Jamaica, Dominican Republic
• Languages at home: 13% English-only · Spanish 83% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -657.80%
• Current HPI: 485.4573
• 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

+898.9% since first listed

9 events — show timeline

• 2026-05-01 Contingent — MARMLS
• 2026-01-08 Price Changed $899,000 MARMLS
• 2025-09-03 Price Changed $949,000 MARMLS
• 2025-08-23 Price Changed $2,600 REDFIN
• 2025-08-22 Listed for Rent $2,500 REDFIN
• 2025-08-08 Listed $979,000 MARMLS
• 2001-04-26 Sold (Public Records) $185,000 Public Records
• 1997-01-21 Sold (Public Records) $158,500 Public Records
• 1985-03-01 Sold (Public Records) $90,000 Public Records

Property tax history

+8.1%/yr

Latest (2025): $9,369 · +14.4% YoY. Source: county tax records.