170 NE 48th St · Miami, FL 33137

$995,000

4 bd · 2.0 ba · 1,170 sqft · MultiFamily public records · 61 Days on market

Built 1952

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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 +11.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• DSCR +3.2/10.0
• Rent growth +3.2/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Remarkable duplex in Buena Vista neighborhood. Zoned R3. Steps away from Design District shopping and dining. Wonderful location close to Midtown, Design District & Wynwood Arts District. Building has two mirror image 1 Bd/1 Bath units with separate elec tric meters, central A/C's, and updated windows. Large 5900 S. F. lot with avocado & papaya trees. Currently occupied by long-term tenants.

Key facts

• Prime location
• Built 1952
• Listed 61 days

Tags

• INCOME PRODUCING DUPLEX
• BUENA VISTA NEIGHBORHOOD
• PRIME LOCATION
• INVESTMENT OPPORTUNITY
• REDEVELOPMENT OPPORTUNITY

Property features AI

Finance

• Other: Property is a multi-unit building with a total of 3 units
• Financial info: Units appear to be rented month-to-month; Reported rents: two units at approximately $1,875 and $1,750

Exterior

• Parking: On-street parking
• Security: No security details provided
• Utilities: Cable available; Public sewer
• Home design: Single-story building
• Construction: Block construction; Concrete roof; Effective year built (not a specific year provided)
• Exterior features: Less than quarter acre lot; On-street parking

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Three 1-bedroom units (each listed as 1 bedroom)
• Flooring: Tile
• Bathrooms: Three full bathrooms (each unit has 1 full bath)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile flooring
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $995k.

Deal economics

• At list price, monthly cash flow is $-426 ($-5k/yr) — negative. Per door: $-213/mo.
• To cash-flow at today's rent, offer at most $920k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $764k (23.2% below list).
• Recommended offer: $764k (23.2% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Toussaint L'Ouverture Elementary (math 27% / reading 37%, grade F, #1,797 of 2,144 statewide, top 86%, 337 students, 75% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 68% FRL track the district average.
• Zoned-school proficiency averages 23% at this address vs 50% district-wide (-26 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 rising (+2.7%/yr); 758 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).

Forward outlook

• In year one you build about $10k of equity ($7k loan paydown + $3k appreciation (0.3% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($935k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $55k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $330k; list at $995k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• 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 $764,200 (23.2% 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 61 days. Have you received any prior offers? Is the seller open to a 23% 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 1952 — 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 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.77% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.84%
• DSCR: 0.92
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.84×
• Total profit: $-45,689
• Equity at exit: $302,518

10-year hold

• IRR: 2.0%
• Equity multiple: 1.22×
• Total profit: $61,377
• Equity at exit: $374,680

Cash invested: $278,600 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 758
• Price-to-rent: 21.7×

Monthly cashflow live

• Estimated rent: $7,642 medium
• Mortgage (P&I): −$5,218
• Tax from tax record: −$831 /mo · $9,973/yr
• Insurance: −$415
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,605
• Net cashflow: $-426

Break-even live

Break-even rent $8,182

Max offer price $919,672

Occupancy floor —

Sensitivity live

Price	-10% $137	-5% $-145	+0% $-426	+5% $-708	+10% $-990
Rent	-10% $-1,030	-5% $-728	+0% $-426	+5% $-125	+10% $177
Rate	-1.0pp $75	-0.5pp $-173	base $-426	+0.5pp $-684	+1.0pp $-947

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$7,642
Total (2 units)			$7,642

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: $248,750
• Closing costs: $29,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$18,997	$7.16	0d	19	0.76mi
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$18,500	$14.68	3d	13	1.01mi

Listing history 36 events

1. 2026-06-21
   days on market $995,000 Active 61 DOM
2. 2026-06-18
   days on market $995,000 Active 58 DOM
3. 2026-06-18
   price $995,000 Active 57 DOM
4. 2026-06-17
   days on market $1,050,000 Active 57 DOM
5. 2026-06-16
   days on market $1,050,000 Active 56 DOM
6. 2026-06-15
   days on market $1,050,000 Active 55 DOM
7. 2026-06-13
   days on market $1,050,000 Active 53 DOM
8. 2026-06-09
   days on market $1,050,000 Active 49 DOM
9. 2026-06-08
   days on market $1,050,000 Active 48 DOM
10. 2026-06-07
    days on market $1,050,000 Active 47 DOM
11. 2026-06-04
    days on market $1,050,000 Active 44 DOM
12. 2026-06-03
    days on market $1,050,000 Active 43 DOM
13. 2026-06-02
    days on market $1,050,000 Active 42 DOM
14. 2026-06-01
    days on market $1,050,000 Active 41 DOM
15. 2026-05-31
    days on market $1,050,000 Active 40 DOM
16. 2026-04-17
    listed $1,050,000 Active
17. 2014-01-14
    soldstatus $330,000 Sold 406-char remark

    Show marketing remark (406 chars)

    Remarkable duplex in Buena Vista neighborhood. Zoned R3. Steps away from Design District shopping and dining. Wonderful location close to Midtown, Design District & Wynwood Arts District. Building has two mirror image 1 Bd/1 Bath units with separate elec tric meters, central A/C's, and updated windows. Large 5900 S. F. lot with avocado & papaya trees. Currently occupied by long-term tenants.

18. 2013-10-30
    status Pending 406-char remark

    Show marketing remark (406 chars)

    Remarkable duplex in Buena Vista neighborhood. Zoned R3. Steps away from Design District shopping and dining. Wonderful location close to Midtown, Design District & Wynwood Arts District. Building has two mirror image 1 Bd/1 Bath units with separate elec tric meters, central A/C's, and updated windows. Large 5900 S. F. lot with avocado & papaya trees. Currently occupied by long-term tenants.

19. 2013-10-18
    price $359,000 406-char remark

    Show marketing remark (406 chars)

    Remarkable duplex in Buena Vista neighborhood. Zoned R3. Steps away from Design District shopping and dining. Wonderful location close to Midtown, Design District & Wynwood Arts District. Building has two mirror image 1 Bd/1 Bath units with separate elec tric meters, central A/C's, and updated windows. Large 5900 S. F. lot with avocado & papaya trees. Currently occupied by long-term tenants.

20. 2013-08-27
    listed $375,000 Active 406-char remark

    Show marketing remark (406 chars)

    Remarkable duplex in Buena Vista neighborhood. Zoned R3. Steps away from Design District shopping and dining. Wonderful location close to Midtown, Design District & Wynwood Arts District. Building has two mirror image 1 Bd/1 Bath units with separate elec tric meters, central A/C's, and updated windows. Large 5900 S. F. lot with avocado & papaya trees. Currently occupied by long-term tenants.

21. 2013-08-27
    historical

    Show marketing remark (406 chars)

    Remarkable duplex in Buena Vista neighborhood. Zoned R3. Steps away from Design District shopping and dining. Wonderful location close to Midtown, Design District & Wynwood Arts District. Building has two mirror image 1 Bd/1 Bath units with separate elec tric meters, central A/C's, and updated windows. Large 5900 S. F. lot with avocado & papaya trees. Currently occupied by long-term tenants.

22. 2013-08-07
    historical
23. 2013-08-06
    listed $375,000 Active
24. 2013-08-02
    listed $375,000 Active
25. 2006-07-05
    soldstatus $293,000
26. 2006-05-18
    soldstatus $293,000
27. 2006-03-30
    soldstatus $293,000
28. 2005-11-08
    soldstatus $250,000
29. 2005-11-04
    listed $305,000
30. 2005-01-21
    listed $305,000
31. 2003-08-13
    soldstatus $144,000
32. 1999-04-29
    soldstatus $39,000
33. 1993-06-07
    soldstatus $62,500
34. 1990-10-29
    soldstatus $50,700
35. 1984-11-01
    soldstatus $51,000
36. 1984-01-01
    soldstatus $44,000

ⓘ 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: $9,973 · $831/mo
• Projected year-2 tax: $9,973 · $831/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 · 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,704
• − Mortgage interest: −$55,735
• − Property taxes: −$9,973
• − Insurance: −$4,975
• − Repairs & maintenance: −$7,336
• − Management: −$7,336
• − Depreciation: −$28,945
• Taxable loss: −$22,598
• Est. tax savings @ 24.0%: +$5,424
• After-tax cash flow: $307/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): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 3106.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% Other Indo-European 5%

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: ▲ 0.27%
• Current HPI: 385.1514
• 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

+2286.4% since first listed

21 events — show timeline

• 2026-04-17 Listed $1,050,000 MARMLS
• 2014-01-14 Sold (MLS) $330,000 MARMLS
• 2013-10-30 Pending — MARMLS
• 2013-10-18 Price Changed $359,000 MARMLS
• 2013-08-27 Listed $375,000 MARMLS
• 2013-08-27 Listing Removed — MARMLS
• 2013-08-07 Listing Removed — MARMLS
• 2013-08-06 Listed $375,000 MARMLS
• 2013-08-02 Listed $375,000 MARMLS
• 2006-07-05 Sold (MLS) $293,000 MARMLS
• 2006-05-18 Sold (MLS) $293,000 MARMLS
• 2006-03-30 Sold (Public Records) $293,000 Public Records
• 2005-11-08 Sold (Public Records) $250,000 Public Records
• 2005-11-04 Listed $305,000 MARMLS
• 2005-01-21 Listed $305,000 MARMLS
• 2003-08-13 Sold (Public Records) $144,000 Public Records
• 1999-04-29 Sold (Public Records) $39,000 Public Records
• 1993-06-07 Sold (Public Records) $62,500 Public Records
• 1990-10-29 Sold (Public Records) $50,700 Public Records
• 1984-11-01 Sold (Public Records) $51,000 Public Records
• 1984-01-01 Sold (Public Records) $44,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $9,973 · -4.1% YoY. Source: county tax records.