36 Phoenetia Ave · Coral Gables, FL 33134

$2,650,000

3 bd · 3.0 ba · 1,980 sqft · MultiFamily public records · 309 Days on market

Built 1926

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Why this score? — see what drove the D- 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 +10.7/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• DSCR +3.1/10.0
• 1% rule +2.8/10.0
• Rent growth +2.7/5.0
• 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: 6 units. estimate disagrees with records

Listing remarks

Rare Investment Opportunity, Welcome to Casa Coral, the only legal STR in Coral Gables with a conditional use permit for Bed & Breakfast. An exceptional opportunity to acquire a beautifully maintained Spanish-style Villa in the heart of prestigious Coral Gables. 36 Phoenetia is a charming & fully operational 6 unit boutique property that offers investors, owner operators, STR operators, or Hospitality groups seeking a unique footprint in the Gables a rare combination of character, stability & upside potential. Operating successfully for the past 4 years, the property has built a strong reputation w consistent repeat travelers & steady bookings, delivering a reliable

Key facts

• Turnkey property
• En suite baths
• Mini-split ac

Tags

• SPANISH-STYLE VILLA
• TURNKEY PROPERTY
• EN SUITE BATHS
• MINI-SPLIT AC
• KITCHENETTES
• GENEROUS OUTDOOR SPACE

Property features AI

Finance

• Other: Zoning code listed as 3801; Lot size described as less than a quarter acre
• Financial info: Reported actual total rent: $12,000/month (for the property/units)
• HOA & community: Community laundry facilities

Exterior

• Parking: On-street parking
• Security: No security features provided
• Utilities: Cable available; Public sewer
• Home design: 2-story building; Multifamily property with six units; Resale property; Barrel roof
• Construction: Block construction
• Exterior features: Balcony; Porch; Open patio

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Six bedrooms (across units)
• Flooring: Concrete flooring; Hardwood flooring; Wood flooring
• Bathrooms: Six full bathrooms (across units)
• Heating & cooling: Wall furnace heating; Wall/window air-conditioning units
• Interior features: Concrete and hardwood wood flooring
• Laundry & utility: On-site laundry facilities (community laundry)

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/1.5-bath units multifamily listed at $2.65M.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative. Per door: $-209/mo.
• To cash-flow at today's rent, offer at most $2.43M (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.08M (21.6% below list).
• Recommended offer: $2.08M (21.6% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 0.6% in Coral Gables — 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 84/100 on livability (#31 in FL, #646 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: 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 flat; 304 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).
• At $20,767/mo this rent would consume 250% of the median local household income ($100k/yr) (locally 1812% 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 $18k of loan paydown is wiped out by about $80k 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 309 days — a 12% lower offer ($2.33M) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 10y 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.
• Current owner paid $1.60M; list at $2.65M implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,076,700 (21.6% 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 309 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-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?
9. 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?
10. 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.
11. 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.
12. 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: 0.78% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.03%
• DSCR: 0.91
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: -21.9%
• Equity multiple: 0.26×
• Total profit: $-552,027
• Equity at exit: $395,124

10-year hold

• IRR: -21.6%
• Equity multiple: -0.01×
• Total profit: $-751,573
• Equity at exit: $229,124

Cash invested: $742,000 (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 33134

• Rents YoY: 0.9%
• Active inventory: 304
• Price-to-rent: 63.8×

Monthly cashflow live

• Estimated rent: $20,767 medium
• Mortgage (P&I): −$13,897
• Tax from tax record: −$2,660 /mo · $31,921/yr
• Insurance: −$1,104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,361
• Net cashflow: $-1,255

Break-even live

Break-even rent $22,356

Max offer price $2,428,262

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	1.5	$20,766
Total (6 units)			$20,767

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: $662,500
• Closing costs: $79,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2601 Salzedo St Coral Gables, FL	2.0–3.0	2.5–4.5	2236	$25,000	$11.18	3d	78	0.99mi
1710 SW 27th Ave Unit 1272101P Miami, FL	1.0–5.0	1.0–4.0	1716	$11,847	$6.90	8d	3	1.14mi

Listing history 50 events

1. 2026-06-18
   days on market $2,650,000 Active 309 DOM
2. 2026-06-17
   days on market $2,650,000 Active 308 DOM
3. 2026-06-16
   days on market $2,650,000 Active 307 DOM
4. 2026-06-15
   days on market $2,650,000 Active 306 DOM
5. 2026-06-13
   days on market $2,650,000 Active 304 DOM
6. 2026-06-09
   days on market $2,650,000 Active 300 DOM
7. 2026-06-08
   days on market $2,650,000 Active 299 DOM
8. 2026-06-08
   days on market $2,650,000 Active 298 DOM
9. 2026-06-04
   days on market $2,650,000 Active 295 DOM
10. 2026-06-03
    days on market $2,650,000 Active 294 DOM
11. 2026-06-02
    days on market $2,650,000 Active 293 DOM
12. 2026-06-01
    days on market $2,650,000 Active 292 DOM
13. 2026-05-31
    days on market $2,650,000 Active 291 DOM
14. 2025-08-13
    listed $2,650,000 Active
15. 2025-08-13
    historical
16. 2025-04-18
    listed $2,650,000 Active
17. 2024-12-28
    listed $2,650,000 Active
18. 2021-10-15
    soldstatus $1,600,000 Closed
19. 2021-09-20
    status Pending
20. 2021-08-26
    price $1,650,000
21. 2021-08-22
    status Active
22. 2021-08-22
    price $1,855,000
23. 2021-07-23
    price $1,885,000
24. 2021-07-12
    price $1,890,000
25. 2021-07-10
    price $2,075,000
26. 2021-06-04
    listed $2,100,000 Active
27. 2020-08-25
    soldstatus $1,280,000
28. 2020-07-27
    historical
29. 2020-04-30
    listed $1,398,000 Active
30. 2018-07-19
    historical
31. 2018-05-12
    historical
32. 2018-05-12
    listed $1,540,000 Active
33. 2018-02-15
    price $1,200,000
34. 2017-11-03
    listed $1,100,000 Active
35. 2017-11-03
    historical
36. 2017-07-08
    price $899,000
37. 2017-06-12
    listed $1,100,000 Active
38. 2017-03-14
    soldstatus $675,000
39. 2017-03-11
    soldstatus $675,000 Sold
40. 2017-03-11
    soldstatus $675,000 Sold
41. 2017-02-10
    price $675,000
42. 2017-02-10
    price $675,000
43. 2017-02-10
    status Pending
44. 2017-02-10
    status Pending
45. 2017-01-03
    listed $710,000 Active
46. 2017-01-02
    listed $710,000 Active
47. 2017-01-01
    historical
48. 2016-10-07
    price $715,000
49. 2016-08-05
    price $790,000
50. 2016-06-21
    price $819,000

ⓘ 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: $31,921 · $2,660/mo
• Projected year-2 tax: $31,921 · $2,660/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 ≥104°F today · 29 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: $249,204
• − Mortgage interest: −$148,441
• − Property taxes: −$31,921
• − Insurance: −$13,250
• − Repairs & maintenance: −$19,936
• − Management: −$19,936
• − Depreciation: −$77,091
• Taxable loss: −$61,372
• Est. tax savings @ 24.0%: +$14,729
• After-tax cash flow: $-333/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 — Coral Gables

• Score: 84/100
• State rank: #31
• US rank: #646

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coral Gables, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 57,226
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 38,174
• Household income: $99,766
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1812.0

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 (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 45% White 21% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 41% Dominican 1% Salvadoran 2%
• Common ancestry: Lithuanian 2% Russian 2% Romanian 1%
• Foreign-born: 55% · Canada, Jamaica, Dominican Republic
• Languages at home: 22% English-only · Spanish 71% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -1014.50%
• Current HPI: 402.6405
• Rent YoY: ▲ 0.92%
• 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

+179.2% since first listed

42 events — show timeline

• 2025-08-13 Listing Removed — MARMLS
• 2025-08-13 Listed $2,650,000 MARMLS
• 2025-04-18 Listed $2,650,000 MARMLS
• 2024-12-28 Listed $2,650,000 MARMLS
• 2021-10-15 Sold (MLS) $1,600,000 MARMLS
• 2021-09-20 Pending — MARMLS
• 2021-08-26 Price Changed $1,650,000 MARMLS
• 2021-08-22 Relisted — MARMLS
• 2021-08-22 Price Changed $1,855,000 MARMLS
• 2021-07-23 Price Changed $1,885,000 MARMLS
• 2021-07-12 Price Changed $1,890,000 MARMLS
• 2021-07-10 Price Changed $2,075,000 MARMLS
• 2021-06-04 Listed $2,100,000 MARMLS
• 2020-08-25 Sold (Public Records) $1,280,000 Public Records
• 2020-07-27 Listing Removed — MARMLS
• 2020-04-30 Listed $1,398,000 MARMLS
• 2018-07-19 Listing Removed — MARMLS
• 2018-05-12 Listed $1,540,000 MARMLS
• 2018-05-12 Listing Removed — MARMLS
• 2018-02-15 Price Changed $1,200,000 MARMLS
• 2017-11-03 Listed $1,100,000 MARMLS
• 2017-11-03 Listing Removed — MARMLS
• 2017-07-08 Price Changed $899,000 MARMLS
• 2017-06-12 Listed $1,100,000 MARMLS
• 2017-03-14 Sold (Public Records) $675,000 Public Records
• 2017-03-11 Sold (MLS) $675,000 MARMLS
• 2017-03-11 Sold (MLS) $675,000 MARMLS
• 2017-02-10 Price Changed $675,000 MARMLS
• 2017-02-10 Price Changed $675,000 MARMLS
• 2017-02-10 Pending — MARMLS
• 2017-02-10 Pending — MARMLS
• 2017-01-03 Listed $710,000 MARMLS
• 2017-01-02 Listed $710,000 MARMLS
• 2017-01-01 Listing Removed — MARMLS
• 2016-10-07 Price Changed $715,000 MARMLS
• 2016-08-05 Price Changed $790,000 MARMLS
• 2016-06-21 Price Changed $819,000 MARMLS
• 2016-05-31 Price Changed $850,000 MARMLS
• 2016-04-14 Price Changed $890,000 MARMLS
• 2016-03-16 Listing Removed — MARMLS
• 2016-02-08 Listed $949,000 MARMLS
• 2016-01-08 Listed $949,000 MARMLS

Property tax history

+14.1%/yr

Latest (2025): $31,921 · +11.8% YoY. Source: county tax records.