295 NE 55th St

Miami, FL 33137

$925,000A-

None bd · 2.0 ba · 2,432 sqft · Built 1925 · MultiFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $18,500/mo
• Mortgage (P&I): −$4,851
• Tax + insurance: −$1,259
• HOA: −$0
• Vac / Maint / Mgmt: −$3,885
• Net cashflow: $8,505/mo
• Annual: $102,064/yr
• Cap rate: 17.33%
• Cash-on-cash: 39.41%
• DSCR: 2.75
• 1% rule: 2.00%
• Cash to close: $259,000

Investor read

• This is a ?-bed/2.0-bath multifamily listed at $925k.
• At list price, monthly cash flow is $9k ($102k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $925k).
• It's been on market 15 days — a 2% lower offer ($911k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $911k (1.5% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($6k loan paydown + $3k appreciation (0.3% local appreciation)).
• 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: Toussaint L'Ouverture Elementary (math 27% / reading 37%, grade F, #1,797 of 2,144 statewide, top 86%, 337 students, 75% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% 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 24% at this address vs 50% district-wide (-26 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.7%/yr); 757 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $200k; list at $925k implies a 362% gain — meaningful room to come down on a strong offer.
• At projected returns (0.3% appreciation + 2.7% rent growth), your $259k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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.

Questions for listing agent

• Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.