None · Miami, FL 33138

$495,000

3 bd · 2.0 ba · 1,052 sqft · MultiFamily public records · 23 Days on market

Built 1949

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• 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: 2 units. confirmed

Listing remarks

Strategic investment opportunity in Miami’s Little River! Duplex 2/2; 1/1 is currently configured as a 3-bedroom, 2-bathroom residence. Located within a designated Opportunity Zone and High Density Mixed-Use T5-O zoning. With key Opportunity Zone tax deferral provisions scheduled through 2026, this property offers timely redevelopment potential, long-term appreciation, and possible capital gains tax deferral advantages for qualifying investors. Currently occupied by an exceptionally reliable tenant with a strong track record of timely payments and responsible lease compliance. Tenant responsible for all utilities, lawn maintenance, trash removal. Ideally positioned in prime Little

Key facts

• Brand new appliances
• Freshly painted
• New a/c

Tags

• DESIGNATED OPPORTUNITY ZONE
• HIGH DENSITY MIXED-USE ZONING
• NEW A/C
• FRESHLY PAINTED
• BRAND NEW APPLIANCES

Property features AI

Finance

• Financial info: Total actual rent: $26,400 annually; Operating expenses: $7,000 annually; Actual rent for efficiency unit: $400/month (unit is leased); Actual rent for 2-bedroom units: $1,800/month (each unit leased)
• HOA & community: On-site laundry facilities

Exterior

• Parking: Total of 4 parking spaces; Individual unit parking spaces
• Security: Smoke detectors in units
• Utilities: Public water; Public sewer; Cable not available
• Home design: Single-story building; Resale property; Shingle and wood roof; Brick and block construction; Zoning: 4600; Lot smaller than a quarter acre
• Construction: Built with brick and block; Shingle and wood roof
• Exterior features: Fenced yard; Open patio; Porch

Interior

• Kitchen: Ranges and refrigerators in some units; Kitchen in units
• Bedrooms: One efficiency unit with 1 bedroom; Three 2-bedroom units
• Flooring: Ceramic tile
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Central air conditioning; Individual air conditioning units in some units
• Interior features: Blinds; Ceramic tile flooring
• Laundry & utility: Washer/dryer hookups in some units; Common laundry facilities

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $495k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $495k).
• Recommended offer: $488k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% 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.
• Market conditions: Rents flat; 368 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $6,578/mo this rent would consume 105% of the median local household income ($75k/yr) (locally 2049% 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 $3k of loan paydown is wiped out by about $15k 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.
• At projected returns (-3.0% appreciation + 0.3% rent growth), your $139k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($488k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $60k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $495k implies a 560% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $487,575 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.33% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.77%
• DSCR: 1.79
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.24×
• Total profit: $33,254
• Equity at exit: $73,806

10-year hold

• IRR: 13.3%
• Equity multiple: 1.94×
• Total profit: $130,072
• Equity at exit: $42,799

Cash invested: $138,600 (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 33138

• Rents YoY: 0.3%
• Active inventory: 368
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $6,578 medium
• Mortgage (P&I): −$2,596
• Tax from tax record: −$342 /mo · $4,100/yr
• Insurance: −$206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,381
• Net cashflow: $2,053

Break-even live

Break-even rent $3,979

Max offer price $495,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,578
Total (2 units)			$6,578

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: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $495,000 Active 23 DOM
2. 2026-06-17
   days on market $495,000 Active 22 DOM
3. 2026-06-16
   days on market $495,000 Active 21 DOM
4. 2026-06-15
   days on market $495,000 Active 20 DOM
5. 2026-06-13
   days on market $495,000 Active 18 DOM
6. 2026-06-09
   days on market $495,000 Active 14 DOM
7. 2026-06-08
   days on market $495,000 Active 13 DOM
8. 2026-06-07
   days on market $495,000 Active 12 DOM
9. 2026-06-04
   days on market $495,000 Active 9 DOM
10. 2026-06-03
    days on market $495,000 Active 8 DOM
11. 2026-06-02
    days on market $495,000 Active 7 DOM
12. 2026-06-02
    price $495,000 Active 6 DOM
13. 2026-06-01
    days on market $555,000 Active 6 DOM
14. 2026-05-31
    days on market $555,000 Active 5 DOM
15. 2026-05-21
    listed $555,000 Active
16. 2016-05-16
    historical
17. 2015-11-23
    listed $190,000 Active
18. 2015-08-07
    historical
19. 2015-07-08
    price $148,000
20. 2015-06-26
    listed $138,000 Active
21. 2015-01-05
    soldstatus $75,000 Sold
22. 2014-12-31
    soldstatus $73,000
23. 2014-08-14
    listed $82,100 Active
24. 2005-03-02
    soldstatus $77,000
25. 2002-07-22
    soldstatus $48,000
26. 1993-10-04
    soldstatus $16,000
27. 1981-06-01
    soldstatus $44,000
28. 1981-04-01
    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: $4,100 · $342/mo
• Projected year-2 tax: $4,108 · $342/mo
• Expected delta: +$9/yr (+$1/mo · 0.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 54% 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: $78,936
• − Mortgage interest: −$27,728
• − Property taxes: −$4,100
• − Insurance: −$2,475
• − Repairs & maintenance: −$6,315
• − Management: −$6,315
• − Depreciation: −$14,400
• Taxable income: $17,604
• Est. tax owed @ 24.0%: −$4,225
• After-tax cash flow: $20,410/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): 28,980
• Household income: $75,051
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 2049.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% White 29% Black 29% Two or more races 21% Asian 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 11% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 16% Estonian 2% Lithuanian 2%
• Foreign-born: 41% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 39% French/Haitian/Cajun 19% Other Indo-European 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: ▼ -890.01%
• Current HPI: 551.4791
• Rent YoY: ▲ 0.33%
• 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

+1161.4% since first listed

14 events — show timeline

• 2026-05-21 Listed $555,000 MARMLS
• 2016-05-16 Listing Removed — MARMLS
• 2015-11-23 Listed $190,000 MARMLS
• 2015-08-07 Listing Removed — MARMLS
• 2015-07-08 Price Changed $148,000 MARMLS
• 2015-06-26 Listed $138,000 MARMLS
• 2015-01-05 Sold (MLS) $75,000 MARMLS
• 2014-12-31 Sold (Public Records) $73,000 Public Records
• 2014-08-14 Listed $82,100 MARMLS
• 2005-03-02 Sold (Public Records) $77,000 Public Records
• 2002-07-22 Sold (Public Records) $48,000 Public Records
• 1993-10-04 Sold (Public Records) $16,000 Public Records
• 1981-06-01 Sold (Public Records) $44,000 Public Records
• 1981-04-01 Sold (Public Records) $44,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $4,100 · +3.8% YoY. Source: county tax records.