1185 NE 111th St · Biscayne Park, FL 33161

$999,000

16 bd · 12.0 ba · 3,136 sqft · MultiFamily · 41 Days on market

Built 2022 ↓ 15% since listing

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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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• 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: 2 units. confirmed

Listing remarks

This new construction duplex is sure to be a great investment! These spacious units can be rented for over $4,000 each! On Airbnb, this property can generate up to nearly $13,000 per month! Biscayne Park is becoming a very sought after and growing neighborhood, with everything around it growing very quickly. Do not miss this chance to own a cash cow in a rapidly appreciating neighborhood. Each unit has 4 spacious bedrooms and 3 full baths, stainless steel appliances, large living area, and massive private backyards.

Key facts

• Spacious units
• 4 parking spots
• Built 2022

Tags

• NEW CONSTRUCTION DUPLEX
• SPACIOUS UNITS
• MASSIVE PRIVATE BACKYARDS

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $999k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $709/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $999k).
• Recommended offer: $969k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#208 in FL, #3,222 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities 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); 341 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $10,533/mo this rent would consume 217% of the median local household income ($58k/yr) (locally 3226% 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 $7k of loan paydown is wiped out by about $30k 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 41 days — a 3% lower offer ($969k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask is 30173% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $969,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.05% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.08%
• DSCR: 1.27
• GRM: 7.9

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: -10.3%
• Equity multiple: 0.63×
• Total profit: $-102,327
• Equity at exit: $148,954

10-year hold

• IRR: -5.9%
• Equity multiple: 0.67×
• Total profit: $-91,525
• Equity at exit: $86,375

Cash invested: $279,720 (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 33161

• Rents YoY: -0.7%
• Active inventory: 341
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $10,533 medium
• Mortgage (P&I): −$5,239
• Tax est. 1.5%: −$1,249 /mo · $14,985/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,212
• Net cashflow: $1,417

Break-even live

Break-even rent $8,739

Max offer price $999,000

Occupancy floor 82%

Sensitivity live

Price	-10% $2,108	-5% $1,762	+0% $1,417	+5% $1,072	+10% $727
Rent	-10% $585	-5% $1,001	+0% $1,417	+5% $1,833	+10% $2,249
Rate	-1.0pp $1,920	-0.5pp $1,671	base $1,417	+0.5pp $1,158	+1.0pp $895

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$10,532
Total (2 units)			$10,533

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-22
   price $3,150
2. 2026-05-07
   listed $3,300
3. 2026-04-01
   status Pending
4. 2026-02-22
   price $999,000
5. 2026-02-19
   listed $979,000 Active
6. 2025-02-24
   historical $3,990
7. 2025-02-22
   listed $3,990
8. 2025-02-21
   historical $3,990
9. 2025-01-21
   listed $3,990
10. 2024-07-03
    historical $3,990
11. 2024-06-12
    listed $3,990
12. 2022-03-24
    price $3,700

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 27 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: $126,396
• − Mortgage interest: −$55,960
• − Property taxes: −$14,985
• − Insurance: −$4,995
• − Repairs & maintenance: −$10,112
• − Management: −$10,112
• − Depreciation: −$29,062
• Taxable income: $1,171
• Est. tax owed @ 24.0%: −$281
• After-tax cash flow: $16,725/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 — Biscayne Park

• Score: 77/100
• State rank: #208
• US rank: #3222

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

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 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% 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: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• 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

-14.9% since first listed

12 events — show timeline

• 2026-05-22 Price Changed $3,150 GFLMLS
• 2026-05-07 Listed for Rent $3,300 GFLMLS
• 2026-04-01 Pending — MARMLS
• 2026-02-22 Price Changed $999,000 MARMLS
• 2026-02-19 Listed $979,000 MARMLS
• 2025-02-24 Rental Removed $3,990 RENTALBEAST
• 2025-02-22 Listed for Rent $3,990 RENTALBEAST
• 2025-02-21 Rental Removed $3,990 TURBOTENANT
• 2025-01-21 Listed for Rent $3,990 TURBOTENANT
• 2024-07-03 Rental Removed $3,990 TURBOTENANT
• 2024-06-12 Listed for Rent $3,990 TURBOTENANT
• 2022-03-24 Price Changed $3,700 RENT.