1376 NW 35th St · Miami, FL 33142

$1,519,900

8 bd · 5.0 ba · 3,386 sqft · MultiFamily public records · 288 Days on market

Built 1925

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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 +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 11 units. estimate disagrees with records

Listing remarks

This residential income property in the heart of Miami is a fantastic investment opportunity! Featuring 4 units, with two upstairs units fully renovated and two downstairs units ready for your custom renovation, this property offers versatility and potential. Each apartment boasts 2 bedrooms and 1 bathroom, complete with modern impact windows, a new roof, and separate electric meters for efficient utility management. Currently, all 4 units are rented, providing immediate income with room to increase value through the unfinished downstairs units. The seller has thoughtfully shared the first three pictures as future projections to showcase the incredible vision and potential of what the front

Key facts

• Fully renovated
• Custom renovation
• Prime location

Tags

• FULLY RENOVATED
• CUSTOM RENOVATION
• MODERN IMPACT WINDOWS
• NEW ROOF
• SEPARATE ELECTRIC METERS
• PRIME LOCATION

Property features AI

Finance

• Other: Zoning code: 5700
• Financial info: Property has 4 units; Actual total rent reported: $9,400 (unit-level/month-to-month); Units are unfurnished

Exterior

• Parking: 3 parking spaces (total)
• Utilities: Public sewer; Cable available; Water service included in rent; Sewer service included in rent
• Home design: 2 stories; Block construction
• Construction: Block construction; Resale property
• Exterior features: Less than quarter acre lot; On-street parking available

Interior

• Kitchen: Microwave included
• Bedrooms: Total of 8 bedrooms (across units)
• Flooring: Laminate; Vinyl
• Bathrooms: 4 full bathrooms (across units)
• Heating & cooling: Central air conditioning
• Interior features: Laminate flooring; Vinyl flooring; Central air conditioning

What this means for you Summary

Snapshot

• This is a 11 × 3-bed/1.5-bath units multifamily listed at $1.52M.

Deal economics

• At list price, monthly cash flow is $8k ($93k/yr) — positive. Per door: $702/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $1.52M).
• Recommended offer: $1.34M (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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 soft (-0.4%/yr); 265 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 $22,623/mo this rent would consume 685% of the median local household income ($40k/yr) (locally 5748% 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 $46k 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 + 0.0% rent growth), your $426k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 288 days — a 12% lower offer ($1.34M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y ago; this cycle's ask is 13% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $790k; list at $1.52M implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,337,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 288 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 1925 — 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: 1.49% ✓
• Cap rate: 12.39%
• Cash-on-cash: 21.78%
• DSCR: 1.97
• GRM: 5.6

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: 11.0%
• Equity multiple: 1.42×
• Total profit: $179,487
• Equity at exit: $226,622

10-year hold

• IRR: 17.6%
• Equity multiple: 2.25×
• Total profit: $534,040
• Equity at exit: $131,413

Cash invested: $425,572 (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 33142

• Home prices YoY: -15.1%
• Rents YoY: -0.4%
• Active inventory: 265
• Price-to-rent: 61.6×

Monthly cashflow live

• Estimated rent: $22,623 medium
• Mortgage (P&I): −$7,971
• Tax from tax record: −$1,544 /mo · $18,531/yr
• Insurance: −$633
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,751
• Net cashflow: $7,724

Break-even live

Break-even rent $12,846

Max offer price $1,519,900

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
▸ 11× units	3	1.5	$22,627
Total (11 units)			$22,623

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: $379,975
• Closing costs: $45,597
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-05-13
   historical Active Under Contract
2. 2026-05-13
   price $1,519,900
3. 2026-04-15
   price $1,449,900
4. 2026-03-28
   price $1,249,900
5. 2026-03-28
   price $1,149,900
6. 2026-01-08
   price $1,550,000
7. 2025-12-02
   price $1,319,000
8. 2025-11-05
   price $1,339,900
9. 2025-09-04
   price $1,345,000
10. 2025-08-12
    listed $1,350,000 Active
11. 2025-07-01
    historical
12. 2025-06-24
    price $1,400,000
13. 2025-05-29
    price $1,450,000
14. 2025-05-09
    listed $1,500,000 Active
15. 2025-03-18
    historical
16. 2025-02-25
    price $1,650,000
17. 2024-11-21
    price $1,800,000
18. 2024-10-01
    price $1,950,000
19. 2024-09-03
    price $2,000,000
20. 2024-08-29
    listed $1,900,000 Active
21. 2022-11-07
    soldstatus $790,000 Closed
22. 2022-09-09
    status Pending
23. 2022-09-03
    historical Active Under Contract
24. 2022-06-01
    listed $774,000 Active
25. 2022-03-15
    historical
26. 2022-03-11
    status Active
27. 2022-02-26
    historical Active Under Contract
28. 2022-01-25
    status Active
29. 2021-12-10
    historical Active Under Contract
30. 2021-12-04
    price $750,000
31. 2021-11-12
    listed $865,000 Active
32. 2015-04-15
    soldstatus $240,000 Sold
33. 2015-03-12
    soldstatus $240,000
34. 2015-02-27
    status Pending
35. 2014-12-29
    listed $259,000 Active
36. 2010-09-27
    soldstatus $197,000
37. 2008-11-12
    soldstatus $157,500
38. 2006-03-27
    soldstatus $415,000
39. 2002-09-10
    soldstatus $40,000
40. 1981-01-01
    soldstatus $30,000

ⓘ 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: $18,531 · $1,544/mo
• Projected year-2 tax: $18,531 · $1,544/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 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 31 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: $271,476
• − Mortgage interest: −$85,138
• − Property taxes: −$18,531
• − Insurance: −$7,600
• − Repairs & maintenance: −$21,718
• − Management: −$21,718
• − Depreciation: −$44,215
• Taxable income: $72,556
• Est. tax owed @ 24.0%: −$17,413
• After-tax cash flow: $75,276/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): 58,908
• Household income: $39,608
• Rent vs Own: 70.8% rent · 29.2% own
• Severe rent burden: 5748.0

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 (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 36% Black 28% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 24% Dominican 7%
• Common ancestry: Hispanic 2%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 64% French/Haitian/Cajun 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: ▼ -102.31%
• Current HPI: 574.9225
• Rent YoY: ▼ -0.41%
• 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

+4966.3% since first listed

40 events — show timeline

• 2026-05-13 Contingent — MARMLS
• 2026-05-13 Price Changed $1,519,900 MARMLS
• 2026-04-15 Price Changed $1,449,900 MARMLS
• 2026-03-28 Price Changed $1,249,900 MARMLS
• 2026-03-28 Price Changed $1,149,900 MARMLS
• 2026-01-08 Price Changed $1,550,000 MARMLS
• 2025-12-02 Price Changed $1,319,000 MARMLS
• 2025-11-05 Price Changed $1,339,900 MARMLS
• 2025-09-04 Price Changed $1,345,000 MARMLS
• 2025-08-12 Listed $1,350,000 MARMLS
• 2025-07-01 Listing Removed — MARMLS
• 2025-06-24 Price Changed $1,400,000 MARMLS
• 2025-05-29 Price Changed $1,450,000 MARMLS
• 2025-05-09 Listed $1,500,000 MARMLS
• 2025-03-18 Listing Removed — MARMLS
• 2025-02-25 Price Changed $1,650,000 MARMLS
• 2024-11-21 Price Changed $1,800,000 MARMLS
• 2024-10-01 Price Changed $1,950,000 MARMLS
• 2024-09-03 Price Changed $2,000,000 MARMLS
• 2024-08-29 Listed $1,900,000 MARMLS
• 2022-11-07 Sold (MLS) $790,000 MARMLS
• 2022-09-09 Pending — MARMLS
• 2022-09-03 Contingent — MARMLS
• 2022-06-01 Listed $774,000 MARMLS
• 2022-03-15 Listing Removed — MARMLS
• 2022-03-11 Relisted — MARMLS
• 2022-02-26 Contingent — MARMLS
• 2022-01-25 Relisted — MARMLS
• 2021-12-10 Contingent — MARMLS
• 2021-12-04 Price Changed $750,000 MARMLS
• 2021-11-12 Listed $865,000 MARMLS
• 2015-04-15 Sold (MLS) $240,000 MARMLS
• 2015-03-12 Sold (Public Records) $240,000 Public Records
• 2015-02-27 Pending — MARMLS
• 2014-12-29 Listed $259,000 MARMLS
• 2010-09-27 Sold (Public Records) $197,000 Public Records
• 2008-11-12 Sold (MLS) $157,500 MARMLS
• 2006-03-27 Sold (Public Records) $415,000 Public Records
• 2002-09-10 Sold (Public Records) $40,000 Public Records
• 1981-01-01 Sold (Public Records) $30,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $18,531 · +4.1% YoY. Source: county tax records.