2825 SW 3rd Ave · Miami, FL 33129

$2,050,000

6 bd · 6.0 ba · 2,280 sqft · MultiFamily public records · 108 Days on market

Built 1951

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +4.4/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Cash flow +0.3/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

The property consists of a 2,280 SF building situated on a 6,250 SF lot in the Brickell Estates subdivision. Originally built in 1951 with improvements added in 1990. It features six studio/1-bath units, all currently occupied with strong rental demand driven by the prime location. The municipal zoning is T6-8-O and the PA zone is 6100 (Commercial-Neighborhood), offering potential for future redevelopment under Miami 21 code. The property is 100% occupied by six tenants generating $9,725 per month in gross rental income. The unit mix consists entirely of studio/1-bath apartments averaging $1,621/month, which remains competitive for the Brickell/Coral Way corridor. Recent lease-ups in mid-2

Key facts

• Strong rental demand
• Gross rental income
• 100% occupied

Tags

• BRICKELL ESTATES SUBDIVISION
• STRONG RENTAL DEMAND
• 100% OCCUPIED
• SIX TENANTS
• GROSS RENTAL INCOME

Property features AI

Finance

• Financial info: Rent includes hot water, sewer, trash collection and water

Exterior

• Parking: 6 parking spaces
• Utilities: Public sewer; Cable available
• Home design: Single-story; Flat roof; Block construction
• Construction: Block construction; Flat roof; Resale property
• Exterior features: Less than quarter acre lot

Interior

• Heating & cooling: Central heating; Central air conditioning
• Interior features: Central heating; Central air conditioning; Cable available

What this means for you Summary

Snapshot

• This is a 6-bed/6.0-bath multifamily listed at $2.05M.

Deal economics

• At list price, monthly cash flow is $-9k ($-109k/yr) — negative.
• To cash-flow at today's rent, offer at most $588k (71.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $626k (69.5% below list).
• Recommended offer: $588k (71.3% below list) — sets the bar for cash-flow.
• Cap rate 1.0% vs local median 1.9% in Miami — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Market conditions: Rents rising (+2.2%/yr); 234 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $6,256/mo this rent would consume 66% of the median local household income ($113k/yr) (locally 655% 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 (-1.2%/yr); year-one equity from $14k of loan paydown is wiped out by about $24k 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 108 days — a 9% lower offer ($1.87M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $250k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $674k; list at $2.05M implies a 204% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — 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 $587,654 (71.3% 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 108 days. Have you received any prior offers? Is the seller open to a 71% concession, seller financing, or rate buy-down credit?
3. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.31% ✗
• Cap rate: 0.96%
• Cash-on-cash: -19.05%
• DSCR: 0.15
• GRM: 27.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.16% appreciation · 2.23% rent growth · sell at horizon

5-year hold

• IRR: -32.8%
• Equity multiple: -0.31×
• Total profit: $-753,866
• Equity at exit: $479,475

10-year hold

• IRR: -28.6%
• Equity multiple: -1.21×
• Total profit: $-1,270,799
• Equity at exit: $490,502

Cash invested: $574,000 (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 33129

• Home prices YoY: -0.3%
• Rents YoY: 2.2%
• Active inventory: 234
• Price-to-rent: 27.3×

Monthly cashflow live

• Estimated rent: $6,256 medium
• Mortgage (P&I): −$10,750
• Tax from tax record: −$2,449 /mo · $29,383/yr
• Insurance: −$854
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,314
• Net cashflow: $-9,111

Break-even live

Break-even rent $17,789

Max offer price $587,654

Occupancy floor —

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: $512,500
• Closing costs: $61,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Brickell Plz Miami, FL	3.0–6.0	3.5–5.5	3486	$50,000	$14.34	24d	2	1.29mi
1000 Brickell Plz Miami, FL	3.0–6.0	3.5–5.5	3692	$50,000	$13.54	10d	2	1.29mi
1000 Brickell Plz Miami, FL	3.0–6.0	4.5–5.5	3795	$50,000	$13.17	2d	2	1.29mi

Listing history 22 events

1. 2026-06-18
   days on market $2,050,000 Active 108 DOM
2. 2026-06-17
   days on market $2,050,000 Active 107 DOM
3. 2026-06-16
   days on market $2,050,000 Active 106 DOM
4. 2026-06-15
   days on market $2,050,000 Active 105 DOM
5. 2026-06-13
   days on market $2,050,000 Active 103 DOM
6. 2026-06-09
   days on market $2,050,000 Active 99 DOM
7. 2026-06-08
   days on market $2,050,000 Active 98 DOM
8. 2026-06-07
   days on market $2,050,000 Active 97 DOM
9. 2026-06-04
   days on market $2,050,000 Active 94 DOM
10. 2026-06-03
    days on market $2,050,000 Active 93 DOM
11. 2026-06-02
    days on market $2,050,000 Active 92 DOM
12. 2026-06-01
    days on market $2,050,000 Active 91 DOM
13. 2026-05-31
    days on market $2,050,000 Active 90 DOM
14. 2026-04-16
    price $2,050,000
15. 2026-03-02
    listed $2,300,000 Active
16. 2025-08-14
    historical
17. 2025-08-13
    listed $2,350,000 Active
18. 2025-01-17
    historical $1,645
19. 2025-01-03
    listed $1,645
20. 2022-12-11
    historical
21. 2004-09-10
    soldstatus $674,200
22. 1976-01-01
    soldstatus $21,500

ⓘ 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: $29,383 · $2,449/mo
• Projected year-2 tax: $29,383 · $2,449/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 · 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: $75,072
• − Mortgage interest: −$114,832
• − Property taxes: −$29,383
• − Insurance: −$10,250
• − Repairs & maintenance: −$6,006
• − Management: −$6,006
• − Depreciation: −$59,636
• Taxable loss: −$151,040
• Est. tax savings @ 24.0%: +$36,250
• After-tax cash flow: $-73,081/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): 14,702
• Household income: $113,367
• Rent vs Own: 53.2% rent · 46.8% own
• Severe rent burden: 655.0

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 (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 48% White 19% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 25% Dominican 2% Salvadoran 3%
• Common ancestry: Lithuanian 3% Estonian 3% Italian 1%
• Foreign-born: 58% · Canada, Jamaica, Dominican Republic
• Languages at home: 15% English-only · Spanish 73% Other Indo-European 5% French/Haitian/Cajun 4%

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: ▼ -1.16%
• Current HPI: 366.9874
• Rent YoY: ▲ 2.23%
• 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

+9434.9% since first listed

9 events — show timeline

• 2026-04-16 Price Changed $2,050,000 MARMLS
• 2026-03-02 Listed $2,300,000 MARMLS
• 2025-08-14 Listing Removed — MARMLS
• 2025-08-13 Listed $2,350,000 MARMLS
• 2025-01-17 Rental Removed $1,645 MARMLS
• 2025-01-03 Listed for Rent $1,645 MARMLS
• 2022-12-11 Rental Removed — RENT.
• 2004-09-10 Sold (Public Records) $674,200 Public Records
• 1976-01-01 Sold (Public Records) $21,500 Public Records

Property tax history

+8.7%/yr

Latest (2025): $29,383 · +13.5% YoY. Source: county tax records.