15207 NE 8th Ave · Golden Glades, FL 33162

$700,000

1 bd · 1.0 ba · 878 sqft · MultiFamily public records · 103 Days on market

Built 2026 0.39 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Cash flow +2.9/30.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

THE SKY IS THE LIMIT! SO MUCH POTENTIAL ON THIS VERY LARGE PARCEL. ALL INFORMATION IS ACCURATE BUT SUBJECT TO BUYER VERIFICATION.

Key facts

• Oversized lot
• 0.39 acre lot
• 4 parking spots

Tags

• BUILD READY RESIDENTIAL LOT
• APPROVED ARCHITECTURAL PLANS
• OVERSIZED LOT

Property features AI

Exterior

• Parking: Carport with 4 covered spaces
• Home design: Single-story; Under construction; Faces northeast; Fixer condition
• Construction: Aluminum siding
• Exterior features: No notable exterior features listed; Lot less than one acre

Interior

• Bathrooms: 4 full bathrooms
• Interior features: First floor entry; Other interior features

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $-2k ($-28k/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (58.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $336k (52.1% below list).
• Recommended offer: $294k (58.0% below list) — sets the bar for cash-flow.
• Cap rate 2.4% vs local median 3.6% in Golden Glades — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 74/100 on livability (#281 in FL, #4,513 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B+, health & safety B+; 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.
• Zoned schools: Oak Grove Elementary School (math 29% / reading 36%, grade F, #1,787 of 2,144 statewide, top 84%, 472 students, 80% FRL); John F. Kennedy Middle School (math 47% / reading 55%, grade C, #237 of 571 statewide, top 43%, 1,074 students, 67% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL).
• Zoned-school proficiency averages 34% at this address vs 50% district-wide (-16 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.6%/yr); 287 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,356/mo this rent would consume 66% of the median local household income ($61k/yr) (locally 2509% 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 103 days — a 9% lower offer ($637k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $50k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $525k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $294,098 (58.0% 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. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 58% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.48% ✗
• Cap rate: 2.35%
• Cash-on-cash: -14.07%
• DSCR: 0.37
• GRM: 17.4

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: -46.2%
• Equity multiple: -0.37×
• Total profit: $-269,490
• Equity at exit: $104,372

10-year hold

• IRR: —
• Equity multiple: -1.35×
• Total profit: $-460,634
• Equity at exit: $60,523

Cash invested: $196,000 (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 33162

• Rents YoY: -1.6%
• Active inventory: 287
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $3,356 medium
• Mortgage (P&I): −$3,671
• Tax from tax record: −$987 /mo · $11,839/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$705
• Net cashflow: $-2,298

Break-even live

Break-even rent $6,265

Max offer price $294,098

Occupancy floor —

Sensitivity live

Price	-10% $-1,901	-5% $-2,100	+0% $-2,298	+5% $-2,496	+10% $-2,694
Rent	-10% $-2,563	-5% $-2,430	+0% $-2,298	+5% $-2,165	+10% $-2,033
Rate	-1.0pp $-1,945	-0.5pp $-2,120	base $-2,298	+0.5pp $-2,479	+1.0pp $-2,664

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $700,000 Active 103 DOM
2. 2026-06-18
   days on market $700,000 Active 100 DOM
3. 2026-06-17
   days on market $700,000 Active 99 DOM
4. 2026-06-16
   days on market $700,000 Active 98 DOM
5. 2026-06-15
   days on market $700,000 Active 97 DOM
6. 2026-06-13
   days on market $700,000 Active 95 DOM
7. 2026-06-09
   days on market $700,000 Active 91 DOM
8. 2026-06-08
   days on market $700,000 Active 90 DOM
9. 2026-06-07
   days on market $700,000 Active 89 DOM
10. 2026-06-04
    days on market $700,000 Active 86 DOM
11. 2026-06-03
    days on market $700,000 Active 85 DOM
12. 2026-06-02
    days on market $700,000 Active 84 DOM
13. 2026-06-01
    days on market $700,000 Active 83 DOM
14. 2026-05-31
    days on market $700,000 Active 82 DOM
15. 2026-05-06
    price $700,000 129-char remark

    Show marketing remark (129 chars)

    THE SKY IS THE LIMIT! SO MUCH POTENTIAL ON THIS VERY LARGE PARCEL. ALL INFORMATION IS ACCURATE BUT SUBJECT TO BUYER VERIFICATION.

16. 2026-05-06
    price $700,000

    Show marketing remark (129 chars)

    THE SKY IS THE LIMIT! SO MUCH POTENTIAL ON THIS VERY LARGE PARCEL. ALL INFORMATION IS ACCURATE BUT SUBJECT TO BUYER VERIFICATION.

17. 2026-03-09
    listed $750,000 Active 129-char remark

    Show marketing remark (129 chars)

    THE SKY IS THE LIMIT! SO MUCH POTENTIAL ON THIS VERY LARGE PARCEL. ALL INFORMATION IS ACCURATE BUT SUBJECT TO BUYER VERIFICATION.

18. 2026-03-09
    listed $750,000 Active

    Show marketing remark (129 chars)

    THE SKY IS THE LIMIT! SO MUCH POTENTIAL ON THIS VERY LARGE PARCEL. ALL INFORMATION IS ACCURATE BUT SUBJECT TO BUYER VERIFICATION.

19. 2024-10-21
    soldstatus $525,000
20. 2024-10-04
    soldstatus $525,000 Closed 215-char remark

    Show marketing remark (215 chars)

    THE SKY IS THE LIMIT! SO MUCH POTENTIAL ON THIS VERY LARGE PARCEL. EXISTING BUILDINGS ARE IN CODE VIOLATION AND MUST BE TORN DOWN. ALL INFORMATION CONTAINED HEREIN DEEMED ACCURATE BUT SUBJECT TO BUYER VERIFICATION.

21. 2024-08-22
    status Pending 215-char remark

    Show marketing remark (215 chars)

    THE SKY IS THE LIMIT! SO MUCH POTENTIAL ON THIS VERY LARGE PARCEL. EXISTING BUILDINGS ARE IN CODE VIOLATION AND MUST BE TORN DOWN. ALL INFORMATION CONTAINED HEREIN DEEMED ACCURATE BUT SUBJECT TO BUYER VERIFICATION.

22. 2024-08-01
    listed $450,000 Active 215-char remark

    Show marketing remark (215 chars)

    THE SKY IS THE LIMIT! SO MUCH POTENTIAL ON THIS VERY LARGE PARCEL. EXISTING BUILDINGS ARE IN CODE VIOLATION AND MUST BE TORN DOWN. ALL INFORMATION CONTAINED HEREIN DEEMED ACCURATE BUT SUBJECT TO BUYER VERIFICATION.

23. 1983-09-01
    soldstatus $65,000
24. 1976-11-01
    soldstatus $19,000

ⓘ 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: $11,839 · $987/mo
• Projected year-2 tax: $11,839 · $987/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 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 24 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: $40,274
• − Mortgage interest: −$39,211
• − Property taxes: −$11,839
• − Insurance: −$3,500
• − Repairs & maintenance: −$3,222
• − Management: −$3,222
• − Depreciation: −$20,364
• Taxable loss: −$41,083
• Est. tax savings @ 24.0%: +$9,860
• After-tax cash flow: $-17,713/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 — Golden Glades

• Score: 74/100
• State rank: #281
• US rank: #4513

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Golden Glades, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 90,324
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 46,606
• Household income: $60,692
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 2509.0

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 0.62)
• Race & ethnicity: Black 53% Hispanic / Latino 30% Two or more races 15% White 12% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 3%
• Common ancestry: Hispanic 31% Romanian 1% Scotch-Irish 1%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · French/Haitian/Cajun 35% 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: ▼ -445.57%
• Current HPI: 596.6178
• Rent YoY: ▼ -1.59%
• 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

+3584.2% since first listed

10 events — show timeline

• 2026-05-06 Price Changed $700,000 MARMLS
• 2026-05-06 Price Changed $700,000 MARMLS
• 2026-03-09 Listed $750,000 MARMLS
• 2026-03-09 Listed $750,000 MARMLS
• 2024-10-21 Sold (Public Records) $525,000 Public Records
• 2024-10-04 Sold (MLS) $525,000 Beaches MLS
• 2024-08-22 Pending — Beaches MLS
• 2024-08-01 Listed $450,000 Beaches MLS
• 1983-09-01 Sold (Public Records) $65,000 Public Records
• 1976-11-01 Sold (Public Records) $19,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $11,839 · +2.9% YoY. Source: county tax records.