11515 NE 12th Ave · Biscayne Park, FL 33161

$880,000

6 bd · 2.0 ba · 2,331 sqft · MultiFamily public records · 142 Days on market

Built 1960

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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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.7/10.0
• 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 MLS

Luxury modern duplex with 6 bedrooms , 2 bath 3/1 each unit in a strategic location. One-of-a-kind basement that could be converted in an extra unit if wanted. Big 8,428 sf lot with 2,569 sq/ft of construction. The property has 2 houses with 3 bedrooms and 1 bathroom each. Renovated throughout with impact windows, Central A/C, and new electricity Open kitchen with bar, family room, and private yard (beautiful fruit trees). 3 blocks from Biscayne Park, Miami Shores, and very close to the Biscayne corridor and Whole Foods. This is a dream opportunity to live in a house and rent the other one for $3500 aprox or purchase as an income property with a conservative income of $7000 a month and huge growth potential.

Key facts

• Private yard
• Family room
• Central a c

Tags

• ONE OF A KIND BASEMENT
• IMPACT WINDOWS
• CENTRAL A C
• PRIVATE YARD
• OPEN KITCHEN
• FAMILY ROOM

Property features AI

Finance

• Other: Zoning description: 5700
• Financial info: Two income units: one unit reporting $2,800/month rent and another reporting $3,100/month rent; Both units listed as leased

Exterior

• Parking: Total of 3 parking spaces; On-street parking
• Utilities: Septic tank sewer; Cable not available; Water included with rent (per rental information)
• Home design: Single-story building
• Construction: Brick and block construction; Flat and tile roofing; Year built: Unknown
• Exterior features: Less than quarter-acre lot; On-street parking

Interior

• Bedrooms: Two 3-bedroom units (each unit listed as 3 bedrooms)
• Flooring: Ceramic tile
• Bathrooms: Two units with 1 full bathroom each
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Ceramic tile flooring; Central electric heating; Central electric cooling
• Laundry & utility: Shared laundry room (unit description lists Laundry Room)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $880k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $728/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $880k).
• Recommended offer: $774k (12.0% 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); 338 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $9,427/mo this rent would consume 194% 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 $6k of loan paydown is wiped out by about $26k 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 142 days — a 12% lower offer ($774k) is reasonable based on typical stale-listing flexibility.
• 9 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 $740k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $774,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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 1960 — 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. 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.
9. 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.
10. 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: 1.07% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.09%
• DSCR: 1.32
• GRM: 7.8

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: -8.8%
• Equity multiple: 0.69×
• Total profit: $-77,365
• Equity at exit: $131,211

10-year hold

• IRR: -3.8%
• Equity multiple: 0.78×
• Total profit: $-54,323
• Equity at exit: $76,086

Cash invested: $246,400 (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: 338
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $9,427 medium
• Mortgage (P&I): −$4,615
• Tax from tax record: −$1,009 /mo · $12,111/yr
• Insurance: −$367
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,980
• Net cashflow: $1,457

Break-even live

Break-even rent $7,583

Max offer price $880,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,955	-5% $1,706	+0% $1,457	+5% $1,208	+10% $958
Rent	-10% $712	-5% $1,084	+0% $1,457	+5% $1,829	+10% $2,201
Rate	-1.0pp $1,900	-0.5pp $1,680	base $1,457	+0.5pp $1,229	+1.0pp $997

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$9,426
Total (2 units)			$9,427

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: $220,000
• Closing costs: $26,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1209 NE 96th St #1209 Miami Shores, FL	5.0	4.0	3143	$21,000	$6.68	11d	1	1.21mi

Listing history 40 events

1. 2026-06-18
   days on market $880,000 Active 142 DOM
2. 2026-06-17
   days on market $880,000 Active 141 DOM
3. 2026-06-16
   days on market $880,000 Active 140 DOM
4. 2026-06-15
   days on market $880,000 Active 139 DOM
5. 2026-06-13
   days on market $880,000 Active 137 DOM
6. 2026-06-09
   days on market $880,000 Active 133 DOM
7. 2026-06-08
   days on market $880,000 Active 132 DOM
8. 2026-06-07
   days on market $880,000 Active 131 DOM
9. 2026-06-04
   days on market $880,000 Active 128 DOM
10. 2026-06-03
    days on market $880,000 Active 127 DOM
11. 2026-06-02
    days on market $880,000 Active 126 DOM
12. 2026-06-01
    days on market $880,000 Active 125 DOM
13. 2026-05-31
    days on market $880,000 Active 124 DOM
14. 2026-01-27
    listed $880,000 Active
15. 2025-10-31
    historical
16. 2025-04-21
    price $880,000
17. 2025-01-14
    price $900,000
18. 2024-12-10
    price $875,000
19. 2024-10-27
    listed $900,000 Active
20. 2023-11-30
    historical $3,300
21. 2023-11-13
    soldstatus $740,000
22. 2023-11-10
    listed $3,300
23. 2023-11-01
    soldstatus $740,000 Closed 719-char remark

    Show marketing remark (719 chars)

    Luxury modern duplex with 6 bedrooms , 2 bath 3/1 each unit in a strategic location. One-of-a-kind basement that could be converted in an extra unit if wanted. Big 8,428 sf lot with 2,569 sq/ft of construction. The property has 2 houses with 3 bedrooms and 1 bathroom each. Renovated throughout with impact windows, Central A/C, and new electricity Open kitchen with bar, family room, and private yard (beautiful fruit trees). 3 blocks from Biscayne Park, Miami Shores, and very close to the Biscayne corridor and Whole Foods. This is a dream opportunity to live in a house and rent the other one for $3500 aprox or purchase as an income property with a conservative income of $7000 a month and huge growth potential.

24. 2023-09-21
    status Pending 719-char remark

    Show marketing remark (719 chars)

    Luxury modern duplex with 6 bedrooms , 2 bath 3/1 each unit in a strategic location. One-of-a-kind basement that could be converted in an extra unit if wanted. Big 8,428 sf lot with 2,569 sq/ft of construction. The property has 2 houses with 3 bedrooms and 1 bathroom each. Renovated throughout with impact windows, Central A/C, and new electricity Open kitchen with bar, family room, and private yard (beautiful fruit trees). 3 blocks from Biscayne Park, Miami Shores, and very close to the Biscayne corridor and Whole Foods. This is a dream opportunity to live in a house and rent the other one for $3500 aprox or purchase as an income property with a conservative income of $7000 a month and huge growth potential.

25. 2023-08-18
    listed $800,000 Active 719-char remark

    Show marketing remark (719 chars)

    Luxury modern duplex with 6 bedrooms , 2 bath 3/1 each unit in a strategic location. One-of-a-kind basement that could be converted in an extra unit if wanted. Big 8,428 sf lot with 2,569 sq/ft of construction. The property has 2 houses with 3 bedrooms and 1 bathroom each. Renovated throughout with impact windows, Central A/C, and new electricity Open kitchen with bar, family room, and private yard (beautiful fruit trees). 3 blocks from Biscayne Park, Miami Shores, and very close to the Biscayne corridor and Whole Foods. This is a dream opportunity to live in a house and rent the other one for $3500 aprox or purchase as an income property with a conservative income of $7000 a month and huge growth potential.

26. 2023-07-24
    historical
27. 2023-07-24
    price $830,000
28. 2023-07-23
    listed $815,000 Active
29. 2018-03-14
    soldstatus $409,000
30. 2018-03-05
    soldstatus $409,000 Sold
31. 2018-01-31
    status Pending
32. 2018-01-12
    listed $499,000 Active
33. 2017-12-31
    historical
34. 2017-10-30
    listed $499,000 Active
35. 2017-02-13
    soldstatus $217,000 Sold
36. 2017-01-24
    status Pending
37. 2017-01-12
    status Active
38. 2016-11-10
    status Pending
39. 2016-10-25
    listed $211,000 Active
40. 1981-05-01
    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: $12,111 · $1,009/mo
• Projected year-2 tax: $12,111 · $1,009/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 4/10 Moderate FEMA zone X (unshaded) · 13% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $113,124
• − Mortgage interest: −$49,294
• − Property taxes: −$12,111
• − Insurance: −$4,400
• − Repairs & maintenance: −$9,050
• − Management: −$9,050
• − Depreciation: −$25,600
• Taxable income: $3,620
• Est. tax owed @ 24.0%: −$869
• After-tax cash flow: $16,611/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
• City population: 99,437
• 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

+877.8% since first listed

27 events — show timeline

• 2026-01-27 Listed $880,000 MARMLS
• 2025-10-31 Listing Removed — MARMLS
• 2025-04-21 Price Changed $880,000 MARMLS
• 2025-01-14 Price Changed $900,000 MARMLS
• 2024-12-10 Price Changed $875,000 MARMLS
• 2024-10-27 Listed $900,000 MARMLS
• 2023-11-30 Rental Removed $3,300 APPFOLIO
• 2023-11-13 Sold (Public Records) $740,000 Public Records
• 2023-11-10 Listed for Rent $3,300 APPFOLIO
• 2023-11-01 Sold (MLS) $740,000 MARMLS
• 2023-09-21 Pending — MARMLS
• 2023-08-18 Listed $800,000 MARMLS
• 2023-07-24 Listing Removed — MARMLS
• 2023-07-24 Price Changed $830,000 MARMLS
• 2023-07-23 Listed $815,000 MARMLS
• 2018-03-14 Sold (Public Records) $409,000 Public Records
• 2018-03-05 Sold (MLS) $409,000 MARMLS
• 2018-01-31 Pending — MARMLS
• 2018-01-12 Listed $499,000 MARMLS
• 2017-12-31 Listing Removed — MARMLS
• 2017-10-30 Listed $499,000 MARMLS
• 2017-02-13 Sold (MLS) $217,000 MARMLS
• 2017-01-24 Pending — MARMLS
• 2017-01-12 Relisted — MARMLS
• 2016-11-10 Pending — MARMLS
• 2016-10-25 Listed $211,000 MARMLS
• 1981-05-01 Sold (Public Records) $90,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $12,111 · -0.5% YoY. Source: county tax records.