7630 Byron Ave

Miami Beach, FL 33141

$1,575,000B-

6 bd · 6.0 ba · 3,400 sqft · Built 1950 · MultiFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $21,719/mo
• Mortgage (P&I): −$8,259
• Tax + insurance: −$2,842
• HOA: −$0
• Vac / Maint / Mgmt: −$4,561
• Net cashflow: $6,057/mo
• Annual: $72,679/yr
• Cap rate: 11.23%
• Cash-on-cash: 17.64%
• DSCR: 1.78
• 1% rule: 1.38%
• Cash to close: $441,000

Investor read

• This is a 6-bed/6.0-bath multifamily listed at $1.57M.
• At list price, monthly cash flow is $6k ($73k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($22k rent vs $1.57M).
• It's been on market 38 days — a 3% lower offer ($1.53M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.53M (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $11k of loan paydown is wiped out by about $47k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#108 in FL, #1,672 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, health & safety A+; Watch: housing C-, amenities D-, 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: Biscayne Beach Elementary School (math 42% / reading 49%, grade D-, #1,247 of 2,144 statewide, top 59%, 578 students, 63% FRL); Miami Beach Nautilus Middle School (math 46% / reading 58%, grade C+, #217 of 571 statewide, top 40%, 918 students, 44% FRL); Miami Beach Senior High School (math 21% / reading 48%, grade F, #386 of 667 statewide, top 59%, 2,175 students, 40% FRL) — zoned schools average 49% FRL vs 64% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 648 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 5y 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 $765k; list at $1.57M implies a 106% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.4% rent growth), your $441k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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.
• Cap rate 11.2% vs local median 1.5% in Miami Beach — 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.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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.