7641 NW 2nd Ct · Miami, FL 33150

$675,000

5 bd · 3.0 ba · 2,064 sqft · MultiFamily public records · 74 Days on market

Built 1972

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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 +13.1/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• 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: 3 units. confirmed

Listing remarks

This income-producing property is ideal for investors or buyers looking to live in one unit and rent the other. Strong rental demand in the area with great potential for steady cash flow. Centrally located near major roads, shopping centers, and local amenities. A must-see property with endless potential!

Key facts

• Strong rental demand
• Shopping centers
• Centrally located

Tags

• INCOME PRODUCING PROPERTY
• STRONG RENTAL DEMAND
• CENTRALLY LOCATED
• MAJOR ROADS
• SHOPPING CENTERS
• LOCAL AMENITIES

Property features AI

Finance

• Financial info: Annual tax amount listed (not included per instructions)

Exterior

• Parking: 2 parking spaces
• Utilities: Public sewer; Cable not available
• Home design: Single-story property; Resale home; Shingle roof; Block construction
• Construction: Block construction; Shingle roof; One story
• Exterior features: Interior lot; Less than quarter acre

Interior

• Bedrooms: Total of 5 bedrooms
• Flooring: Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $675k.

Deal economics

• At list price, monthly cash flow is $-23 ($-279/yr) — negative. Per door: $-8/mo.
• To cash-flow at today's rent, offer at most $671k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $586k (13.2% below list).
• Recommended offer: $586k (13.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 1.9% in Miami — 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 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: Jesse J. Mccrary Jr. Elementary School (math 31% / reading 30%, grade F, #1,862 of 2,144 statewide, top 88%, 376 students, 72% FRL); Horace Mann Middle School (math 23% / reading 31%, grade F, #497 of 571 statewide, top 88%, 528 students, 76% FRL); Miami Edison Senior High School (math 19% / reading 15%, grade F, #597 of 667 statewide, top 90%, 623 students, 72% FRL).
• Zoned-school proficiency averages 25% at this address vs 50% district-wide (-25 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 soft (-0.8%/yr); 184 active listings in the ZIP; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $5,859/mo this rent would consume 172% of the median local household income ($41k/yr) (locally 2384% 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 $20k 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 74 days — a 6% lower offer ($634k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $675k implies a 923% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $585,900 (13.2% 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 74 days. Have you received any prior offers? Is the seller open to a 13% 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 1972 — 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: 0.87% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 9.6

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: -20.0%
• Equity multiple: 0.32×
• Total profit: $-127,951
• Equity at exit: $100,645

10-year hold

• IRR: -21.2%
• Equity multiple: 0.05×
• Total profit: $-179,357
• Equity at exit: $58,362

Cash invested: $189,000 (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 33150

• Rents YoY: -0.8%
• Active inventory: 184
• Price-to-rent: 28.8×

Monthly cashflow live

• Estimated rent: $5,859 medium
• Mortgage (P&I): −$3,540
• Tax from tax record: −$831 /mo · $9,970/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,230
• Net cashflow: $-23

Break-even live

Break-even rent $5,888

Max offer price $670,888

Occupancy floor 95%

Sensitivity live

Price	-10% $359	-5% $168	+0% $-23	+5% $-214	+10% $-405
Rent	-10% $-486	-5% $-255	+0% $-23	+5% $208	+10% $440
Rate	-1.0pp $317	-0.5pp $148	base $-23	+0.5pp $-198	+1.0pp $-376

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$5,859
Total (3 units)			$5,859

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $675,000 Active 74 DOM
2. 2026-06-21
   days on market $675,000 Active 73 DOM
3. 2026-06-18
   days on market $675,000 Active 70 DOM
4. 2026-06-17
   days on market $675,000 Active 69 DOM
5. 2026-06-16
   days on market $675,000 Active 68 DOM
6. 2026-06-15
   days on market $675,000 Active 67 DOM
7. 2026-06-13
   days on market $675,000 Active 65 DOM
8. 2026-06-09
   days on market $675,000 Active 61 DOM
9. 2026-06-08
   days on market $675,000 Active 60 DOM
10. 2026-06-07
    days on market $675,000 Active 59 DOM
11. 2026-06-04
    days on market $675,000 Active 56 DOM
12. 2026-06-03
    days on market $675,000 Active 55 DOM
13. 2026-06-02
    days on market $675,000 Active 54 DOM
14. 2026-06-01
    days on market $675,000 Active 53 DOM
15. 2026-05-31
    days on market $675,000 Active 52 DOM
16. 2026-04-13
    price $675,000
17. 2026-04-09
    listed $565,000 Active
18. 1989-04-27
    soldstatus $66,000

ⓘ 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: $9,970 · $831/mo
• Projected year-2 tax: $9,970 · $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 5/10 Major FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 30 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: $70,308
• − Mortgage interest: −$37,810
• − Property taxes: −$9,970
• − Insurance: −$3,375
• − Repairs & maintenance: −$5,625
• − Management: −$5,625
• − Depreciation: −$19,636
• Taxable loss: −$11,733
• Est. tax savings @ 24.0%: +$2,816
• After-tax cash flow: $2,537/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): 30,974
• Household income: $40,873
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 2384.0

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 (63%)
• Race & ethnicity: Black 63% Hispanic / Latino 30% Two or more races 13% White 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 7% Dominican 2%
• Common ancestry: Hispanic 27%
• Foreign-born: 42% · Canada, Jamaica
• Languages at home: 42% English-only · Spanish 30% French/Haitian/Cajun 27% Other Indo-European 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: ▼ -359.01%
• Current HPI: 552.392
• Rent YoY: ▼ -0.78%
• 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

+922.7% since first listed

3 events — show timeline

• 2026-04-13 Price Changed $675,000 MARMLS
• 2026-04-09 Listed $565,000 MARMLS
• 1989-04-27 Sold (Public Records) $66,000 Public Records

Property tax history

+11.5%/yr

Latest (2025): $9,970 · +108.1% YoY. Source: county tax records.