15803 NW 47th Ave · Miami Gardens, FL 33054

$749,900

6 bd · 3.0 ba · 1,743 sqft · MultiFamily public records · 46 Days on market

Built 1991

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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 +12.7/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• DSCR +3.8/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• 1% rule +3.0/10.0
• 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: 3 units. confirmed

Listing remarks MLS

----SHORT SALE APPROVAL--- BEWARE: NON COOPERATIVE PERSONS. NEED 24 HR. APPT.

Key facts

• Brand new roof
• Multi-family
• Zoned 2-9 units

Tags

• MULTI-FAMILY
• 3 UNITS
• LONG-TERM RENTAL OPPORTUNITIES
• BRAND NEW ROOF
• ZONED 2-9 UNITS
• SEWER LINE

Property features AI

Finance

• Other: Zoning code: 5700
• Financial info: Units are month-to-month; Listed actual rent recorded as nominal ($1) — rental details available; Rent includes water

Exterior

• Parking: Total of 6 parking spaces (open parking)
• Utilities: Public water; Septic tank sewer; Cable not available
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Resale property
• Exterior features: Open parking

Interior

• Kitchen: Kitchen in 3-bedroom unit
• Bedrooms: Three 1-bedroom efficiency units; One 3-bedroom unit
• Flooring: Tile
• Bathrooms: Each unit includes one full bathroom
• Heating & cooling: Central heating; Electric cooling (individual units have air conditioning)
• Interior features: Tile flooring
• Laundry & utility: Water included in rent (for rental units)

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $-149 ($-2k/yr) — negative. Per door: $-50/mo.
• To cash-flow at today's rent, offer at most $724k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $598k (20.2% below list).
• Recommended offer: $598k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.1% in Miami Gardens — 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 72/100 on livability (#338 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D+, crime 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.
• Market conditions: Rents rising fast (+4.9%/yr); 141 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $5,983/mo this rent would consume 157% of the median local household income ($46k/yr) (locally 1811% 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 $22k 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 46 days — a 3% lower offer ($727k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $72k; list at $750k implies a 940% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $598,300 (20.2% 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 46 days. Have you received any prior offers? Is the seller open to a 20% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is D 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.47%
• DSCR: 0.98
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.86% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.43×
• Total profit: $-119,687
• Equity at exit: $111,813

10-year hold

• IRR: -4.6%
• Equity multiple: 0.68×
• Total profit: $-68,212
• Equity at exit: $64,838

Cash invested: $209,972 (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 33054

• Home prices YoY: -15.9%
• Rents YoY: 4.9%
• Active inventory: 141
• Price-to-rent: 31.3×

Monthly cashflow live

• Estimated rent: $5,983 medium
• Mortgage (P&I): −$3,933
• Tax from tax record: −$564 /mo · $6,767/yr
• Insurance: −$312
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,256
• Net cashflow: $-149

Break-even live

Break-even rent $6,171

Max offer price $723,616

Occupancy floor 97%

Sensitivity live

Price	-10% $276	-5% $63	+0% $-149	+5% $-361	+10% $-573
Rent	-10% $-621	-5% $-385	+0% $-149	+5% $88	+10% $324
Rate	-1.0pp $229	-0.5pp $42	base $-149	+0.5pp $-343	+1.0pp $-541

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,982
Total (3 units)			$5,983

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: $187,475
• Closing costs: $22,497
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $749,900 Active 46 DOM
2. 2026-06-18
   days on market $749,900 Active 43 DOM
3. 2026-06-17
   days on market $749,900 Active 42 DOM
4. 2026-06-16
   days on market $749,900 Active 41 DOM
5. 2026-06-15
   days on market $749,900 Active 40 DOM
6. 2026-06-13
   days on market $749,900 Active 38 DOM
7. 2026-06-09
   days on market $749,900 Active 34 DOM
8. 2026-06-08
   days on market $749,900 Active 33 DOM
9. 2026-06-07
   days on market $749,900 Active 32 DOM
10. 2026-06-04
    days on market $749,900 Active 29 DOM
11. 2026-06-03
    days on market $749,900 Active 28 DOM
12. 2026-06-02
    days on market $749,900 Active 27 DOM
13. 2026-06-01
    days on market $749,900 Active 26 DOM
14. 2026-05-31
    days on market $749,900 Active 25 DOM
15. 2026-05-06
    historical
16. 2026-05-06
    listed $749,900 Active
17. 2025-05-22
    listed $750,000 Active
18. 2011-07-22
    soldstatus $72,100 77-char remark

    Show marketing remark (77 chars)

    ----SHORT SALE APPROVAL--- BEWARE: NON COOPERATIVE PERSONS. NEED 24 HR. APPT.

19. 2011-07-22
    soldstatus $72,100

    Show marketing remark (77 chars)

    ----SHORT SALE APPROVAL--- BEWARE: NON COOPERATIVE PERSONS. NEED 24 HR. APPT.

20. 2011-04-11
    listed $72,100 77-char remark

    Show marketing remark (77 chars)

    ----SHORT SALE APPROVAL--- BEWARE: NON COOPERATIVE PERSONS. NEED 24 HR. APPT.

21. 1987-05-01
    soldstatus $16,000
22. 1983-12-01
    soldstatus $11,200

ⓘ 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: $6,767 · $564/mo
• Projected year-2 tax: $6,767 · $564/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 7/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $71,796
• − Mortgage interest: −$42,006
• − Property taxes: −$6,767
• − Insurance: −$4,547
• − Repairs & maintenance: −$5,744
• − Management: −$5,744
• − Depreciation: −$21,815
• Taxable loss: −$14,826
• Est. tax savings @ 24.0%: +$3,558
• After-tax cash flow: $1,773/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 Gardens

• Score: 72/100
• State rank: #338
• US rank: #5854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami Gardens, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 81,592
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 31,055
• Household income: $45,710
• Rent vs Own: 51.6% rent · 48.4% own
• Severe rent burden: 1811.0

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: Majority Black (51%)
• Race & ethnicity: Black 51% Hispanic / Latino 44% Two or more races 29% White 3%
• Hispanic origin (detail): Puerto Rican 2% Cuban 27% Dominican 3%
• Common ancestry: Hispanic 5%
• Foreign-born: 36% · Canada, Jamaica, Vietnam
• Languages at home: 52% English-only · Spanish 42% French/Haitian/Cajun 5% Chinese 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: ▼ -129.05%
• Current HPI: 681.4827
• Rent YoY: ▲ 4.86%
• 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

+6595.5% since first listed

8 events — show timeline

• 2026-05-06 Listed $749,900 MARMLS
• 2026-05-06 Listing Removed — MARMLS
• 2025-05-22 Listed $750,000 MARMLS
• 2011-07-22 Sold (MLS) $72,100 MARMLS
• 2011-07-22 Sold (Public Records) $72,100 Public Records
• 2011-04-11 Listed $72,100 MARMLS
• 1987-05-01 Sold (Public Records) $16,000 Public Records
• 1983-12-01 Sold (Public Records) $11,200 Public Records

Property tax history

+6.3%/yr

Latest (2025): $6,767 · +14.4% YoY. Source: county tax records.