242 NE 55th Ter · Miami, FL 33137

$1,000,000

4 bd · 2.0 ba · 1,620 sqft · MultiFamily public records · 601 Days on market

Built 1953

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Why this score? — see what drove the C 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 +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Appreciation +5.1/10.0
• 1% rule +4.2/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• 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

Discover a fantastic investment in this well-maintained multifamily property situated in a thriving neighborhood in an opportunity zone. This property boasts multiple spacious units, each featuring modern finishes, ample natural light, ensuring convenience for both tenants and owners. With a strong rental history and low vacancy rates, it’s an ideal addition to any portfolio. Enjoy the benefits of being in a desirable area with close proximity to local amenities, parks, public transport, restaurant, schools and much more!!!Duplex operating as a fourplex.

Key facts

• 4 parking spots
• Built 1953
• Listed 600 days

Property features AI

Finance

• Financial info: Rent includes sewer and trash collection; Multiple leased units with current rents reported (examples: $2,400; $1,500; $1,000)

Exterior

• Parking: Total of 4 parking spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Resale property
• Exterior features: Fenced yard; Exterior lighting

Interior

• Kitchen: Range; Refrigerator; Microwave (in some units)
• Bedrooms: Multiple unit types: 1- and 2-bedroom units (various units across the property)
• Flooring: Tile
• Bathrooms: Combination of full and half baths across units (some units have 1 full bath, others have 2 full baths and some include a half bath)
• Heating & cooling: Electric heating; Air conditioning units
• Interior features: Blinds; Tile flooring; Smoke detectors; Window coverings included
• Laundry & utility: Air conditioning units included

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $1.00M.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $511/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $918k (8.2% below list).
• Recommended offer: $880k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 rising (+2.7%/yr); 757 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• At projected returns (0.3% appreciation + 2.7% rent growth), your $280k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$63k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 601 days — a 12% lower offer ($880k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $300k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $1.00M implies a 2400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $880,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 601 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 0.92% ✗
• Cap rate: 7.52%
• Cash-on-cash: 4.38%
• DSCR: 1.19
• GRM: 9.1

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: 1.16×
• Total profit: $45,912
• Equity at exit: $304,038

10-year hold

• IRR: 8.3%
• Equity multiple: 1.92×
• Total profit: $258,372
• Equity at exit: $376,563

Cash invested: $280,000 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 757
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $9,178 medium
• Mortgage (P&I): −$5,244
• Tax from tax record: −$568 /mo · $6,816/yr
• Insurance: −$417
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,927
• Net cashflow: $1,022

Break-even live

Break-even rent $7,884

Max offer price $1,000,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,588	-5% $1,305	+0% $1,022	+5% $739	+10% $456
Rent	-10% $297	-5% $659	+0% $1,022	+5% $1,384	+10% $1,747
Rate	-1.0pp $1,525	-0.5pp $1,276	base $1,022	+0.5pp $763	+1.0pp $499

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$9,178
Total (2 units)			$9,178

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: $250,000
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4675 NE 2nd Ave Miami, FL	5.0	3.0	2248	$27,500	$12.23	4d	1	0.60mi
4675 NE 2nd Ave Miami, FL	5.0	3.0	2248	$27,500	$12.23	4d	1	0.60mi
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$18,997	$7.16	0d	19	1.26mi

Listing history 32 events

1. 2026-06-18
   days on market $1,000,000 Active 601 DOM
2. 2026-06-17
   days on market $1,000,000 Active 600 DOM
3. 2026-06-16
   days on market $1,000,000 Active 599 DOM
4. 2026-06-15
   days on market $1,000,000 Active 598 DOM
5. 2026-06-13
   days on market $1,000,000 Active 596 DOM
6. 2026-06-09
   days on market $1,000,000 Active 592 DOM
7. 2026-06-08
   days on market $1,000,000 Active 591 DOM
8. 2026-06-08
   days on market $1,000,000 Active 590 DOM
9. 2026-06-04
   days on market $1,000,000 Active 587 DOM
10. 2026-06-03
    days on market $1,000,000 Active 586 DOM
11. 2026-06-02
    days on market $1,000,000 Active 585 DOM
12. 2026-06-01
    days on market $1,000,000 Active 584 DOM
13. 2026-05-31
    days on market $1,000,000 Active 583 DOM
14. 2026-04-10
    price $1,000,000
15. 2026-03-27
    price $1,050,000
16. 2026-03-09
    price $1,100,000
17. 2025-02-03
    price $1,240,000
18. 2024-11-12
    price $1,250,000
19. 2024-10-25
    listed $1,300,000 Active
20. 2015-02-10
    historical
21. 2015-02-04
    listed $165,000 Active
22. 2011-08-09
    soldstatus $40,000
23. 2011-07-17
    listed $89,900
24. 2011-07-06
    soldstatus $40,000
25. 2011-03-21
    soldstatus $40,000
26. 2010-10-20
    listed $40,000
27. 2004-09-10
    soldstatus $175,000
28. 2004-08-06
    soldstatus $117,000
29. 1997-12-01
    soldstatus $108,000
30. 1997-11-01
    soldstatus $108,000
31. 1989-02-07
    soldstatus $57,100
32. 1981-05-01
    soldstatus $58,000

ⓘ 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: $6,816 · $568/mo
• Projected year-2 tax: $8,300 · $692/mo
• Expected delta: +$1,484/yr (+$124/mo · 21.8%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $110,136
• − Mortgage interest: −$56,016
• − Property taxes: −$6,816
• − Insurance: −$5,000
• − Repairs & maintenance: −$8,811
• − Management: −$8,811
• − Depreciation: −$29,091
• Taxable loss: −$4,408
• Est. tax savings @ 24.0%: +$1,058
• After-tax cash flow: $13,320/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

+1624.1% since first listed

19 events — show timeline

• 2026-04-10 Price Changed $1,000,000 MARMLS
• 2026-03-27 Price Changed $1,050,000 MARMLS
• 2026-03-09 Price Changed $1,100,000 MARMLS
• 2025-02-03 Price Changed $1,240,000 MARMLS
• 2024-11-12 Price Changed $1,250,000 MARMLS
• 2024-10-25 Listed $1,300,000 MARMLS
• 2015-02-10 Listing Removed — MARMLS
• 2015-02-04 Listed $165,000 MARMLS
• 2011-08-09 Sold (Public Records) $40,000 Public Records
• 2011-07-17 Listed $89,900 MARMLS
• 2011-07-06 Sold (MLS) $40,000 MARMLS
• 2011-03-21 Sold (Public Records) $40,000 Public Records
• 2010-10-20 Listed $40,000 MARMLS
• 2004-09-10 Sold (Public Records) $175,000 Public Records
• 2004-08-06 Sold (Public Records) $117,000 Public Records
• 1997-12-01 Sold (Public Records) $108,000 Public Records
• 1997-11-01 Sold (Public Records) $108,000 Public Records
• 1989-02-07 Sold (Public Records) $57,100 Public Records
• 1981-05-01 Sold (Public Records) $58,000 Public Records

Property tax history

+9.5%/yr

Latest (2025): $6,816 · +7.3% YoY. Source: county tax records.