2190 SW 14th Ter · Miami, FL 33145

$1,650,000

4 bd · 6.0 ba · 3,290 sqft · MultiFamily public records · 35 Days on market

Built 1957

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

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 MLS

Great investment property in highly sought after Shenandoah/Little Havana area! 6 unit corner lot with 2 studios and 4 one-bedroom units. On premise parking with washer and dryer in building.

Key facts

• New tile flooring
• Fully renovated
• Perimeter fencing

Tags

• FULLY RENOVATED
• HURRICANE RATED IMPACT WINDOWS
• INDIVIDUAL MINI SPLIT HVAC
• NEW ELECTRICAL
• PERIMETER FENCING
• NEW TILE FLOORING

Property features AI

Finance

• Financial info: Total actual rent: $132,000; Operating expenses: $44,830; Individual unit rents reported (examples): $1,650 for 450-area unit; $1,925 for 600-area unit; Rent includes sewer, trash collection, and water

Exterior

• Parking: Six parking spaces
• Utilities: Public sewer; Cable available
• Home design: 2-story building; Resale property; Shingle roof; Block construction
• Construction: Built with block construction; Shingle roof
• Exterior features: Less than quarter acre lot

Interior

• Kitchen: Microwave included in units; Range included in units; Refrigerator included in units
• Bedrooms: Four 1-bedroom units (600 area); Two studio/efficiency units (450 area)
• Flooring: Tile
• Bathrooms: Each unit includes one full bathroom
• Heating & cooling: Wall furnace heating; Electric cooling with zoned system
• Interior features: Tile flooring
• Laundry & utility: Window coverings included in some units

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 4×1bd/1ba units multifamily listed at $1.65M.

Deal economics

• At list price, monthly cash flow is $5k ($54k/yr) — positive. Per door: $753/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.65M).
• Recommended offer: $1.60M (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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); 225 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $19,287/mo this rent would consume 313% of the median local household income ($74k/yr) (locally 1517% 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 $11k of loan paydown is wiped out by about $50k 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 + 2.7% rent growth), your $462k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($1.60M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $670k; list at $1.65M implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — 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 $1,600,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 1.17% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $14,914
• Equity at exit: $246,020

10-year hold

• IRR: 10.2%
• Equity multiple: 1.78×
• Total profit: $361,521
• Equity at exit: $142,662

Cash invested: $462,000 (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 33145

• Rents YoY: 2.7%
• Active inventory: 225
• Price-to-rent: 38.1×

Monthly cashflow live

• Estimated rent: $19,287 medium
• Mortgage (P&I): −$8,653
• Tax from tax record: −$1,380 /mo · $16,563/yr
• Insurance: −$688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,050
• Net cashflow: $4,516

Break-even live

Break-even rent $13,570

Max offer price $1,650,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$7,220
▸ 4× units	1	1	$12,068
Total (6 units)			$19,287

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: $412,500
• Closing costs: $49,500
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 SW 27th Ave Unit 1272101P Miami, FL	1.0–5.0	1.0–4.0	1716	$15,843	$9.23	7d	3	0.59mi
1651 SW 13th Ave Miami, FL	5.0	5.5	4496	$22,500	$5.00	24d	1	0.88mi
1951 Secoffee St Miami, FL	4.0	4.0	3750	$18,000	$4.80	17d	1	1.13mi
1951 Secoffee St Miami, FL	4.0	4.0	3750	$18,000	$4.80	10d	1	1.13mi
1701 Espanola Dr Miami, FL	5.0	6.0	4253	$30,000	$7.05	24d	1	1.19mi
1701 Espanola Dr Unit SFH Miami, FL	5.0	6.0	4253	$30,000	$7.05	15d	1	1.19mi
79 Shore Dr W Unit SFH Miami, FL	4.0	4.5	3718	$22,000	$5.92	24d	1	1.21mi
79 Shore Dr W Miami, FL	4.0	4.5	3715	$21,997	$5.92	24d	1	1.21mi
79 Shore Dr W Miami, FL	4.0	4.5	3715	$21,997	$5.92	20d	1	1.21mi
79 Shore Dr W Miami, FL	4.0	5.0	3718	$22,000	$5.92	17d	1	1.21mi
290 Shore Dr E #290 Miami, FL	4.0	4.0	2314	$18,500	$7.99	10d	1	1.35mi
2805 Freeman St Miami, FL	5.0	5.5	3852	$60,000	$15.58	24d	1	1.37mi
301 Shore Dr E Unit 301 Miami, FL	4.0	5.0	3821	$22,000	$5.76	14d	1	1.39mi
1785 Fairhaven Pl Miami, FL	4.0	5.5	4710	$35,000	$7.43	24d	1	1.49mi

Listing history 20 events

1. 2026-06-17
   days on market $1,650,000 Active 35 DOM
2. 2026-06-16
   days on market $1,650,000 Active 34 DOM
3. 2026-06-15
   days on market $1,650,000 Active 33 DOM
4. 2026-06-13
   days on market $1,650,000 Active 31 DOM
5. 2026-06-09
   days on market $1,650,000 Active 27 DOM
6. 2026-06-08
   days on market $1,650,000 Active 26 DOM
7. 2026-06-07
   days on market $1,650,000 Active 25 DOM
8. 2026-06-04
   days on market $1,650,000 Active 22 DOM
9. 2026-06-03
   days on market $1,650,000 Active 21 DOM
10. 2026-06-02
    days on market $1,650,000 Active 20 DOM
11. 2026-06-01
    days on market $1,650,000 Active 19 DOM
12. 2026-05-31
    days on market $1,650,000 Active 18 DOM
13. 2026-05-13
    listed $1,650,000 Active
14. 2018-12-28
    soldstatus $670,000
15. 2018-12-18
    soldstatus $670,000 Sold 191-char remark

    Show marketing remark (191 chars)

    Great investment property in highly sought after Shenandoah/Little Havana area! 6 unit corner lot with 2 studios and 4 one-bedroom units. On premise parking with washer and dryer in building.

16. 2018-11-13
    status Pending 191-char remark

    Show marketing remark (191 chars)

    Great investment property in highly sought after Shenandoah/Little Havana area! 6 unit corner lot with 2 studios and 4 one-bedroom units. On premise parking with washer and dryer in building.

17. 2018-11-01
    listed $750,000 Active 191-char remark

    Show marketing remark (191 chars)

    Great investment property in highly sought after Shenandoah/Little Havana area! 6 unit corner lot with 2 studios and 4 one-bedroom units. On premise parking with washer and dryer in building.

18. 2008-01-14
    soldstatus $545,000
19. 1990-08-02
    soldstatus $145,000
20. 1979-04-01
    soldstatus $85,000

ⓘ 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: $16,563 · $1,380/mo
• Projected year-2 tax: $16,563 · $1,380/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 ≥104°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: $231,444
• − Mortgage interest: −$92,426
• − Property taxes: −$16,563
• − Insurance: −$8,250
• − Repairs & maintenance: −$18,516
• − Management: −$18,516
• − Depreciation: −$48,000
• Taxable income: $29,174
• Est. tax owed @ 24.0%: −$7,002
• After-tax cash flow: $47,193/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): 29,761
• Household income: $73,995
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1517.0

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 (79%)
• Race & ethnicity: Hispanic / Latino 79% Two or more races 51% White 16% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 41% Dominican 2% Salvadoran 2%
• Common ancestry: Estonian 2% Scotch-Irish 1% Italian 1%
• Foreign-born: 59% · Canada, Jamaica, Dominican Republic
• Languages at home: 13% English-only · Spanish 83% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -657.80%
• Current HPI: 485.4573
• 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

+1841.2% since first listed

8 events — show timeline

• 2026-05-13 Listed $1,650,000 MARMLS
• 2018-12-28 Sold (Public Records) $670,000 Public Records
• 2018-12-18 Sold (MLS) $670,000 MARMLS
• 2018-11-13 Pending — MARMLS
• 2018-11-01 Listed $750,000 MARMLS
• 2008-01-14 Sold (Public Records) $545,000 Public Records
• 1990-08-02 Sold (Public Records) $145,000 Public Records
• 1979-04-01 Sold (Public Records) $85,000 Public Records

Property tax history

+11.5%/yr

Latest (2025): $16,563 · +3.2% YoY. Source: county tax records.