6322 NE 1st Pl · Miami, FL 33138

$580,000

2 bd · 2.0 ba · 1,296 sqft · MultiFamily public records · 58 Days on market

Built 1954 Est $394k · 47% over

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Why this score? — see what drove the D 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 +18.7/30.0
• DSCR +5.9/10.0
• 1% rule +4.6/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Income-producing duplex featuring two units, each a 1 bed/1 bath. Both units have stylish laminate floors and gleaming stainless steel appliances. Modern fixtures elevate the interiors, ensuring a contemporary feel. The property offers a spacious, shared backyard, perfect for relaxing or entertaining. Ideal for investors or owner-occupants looking to offset costs with rental income. A rare opportunity—don’t miss out!

Key facts

• 4 parking spots
• Built 1954
• Listed 57 days

Tags

• INCOME PRODUCING DUPLEX
• STYLISH LAMINATE FLOORS
• STAINLESS STEEL APPLIANCES
• SPACIOUS SHARED BACKYARD

Property features AI

Exterior

• Parking: Total of 4 parking spaces; Open parking
• Utilities: Public sewer; Cable not available
• Home design: Single-story building; Resale property; Shingle roof; Block construction
• Construction: Block construction; Shingle roof
• Exterior features: Less than quarter acre lot

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: Two 1-bedroom units (each unit listed as 1 bedroom)
• Flooring: Laminate
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Central heating; Central air
• Interior features: Laminate flooring; Central air conditioning; Central heating
• Laundry & utility: Open parking listed within unit description (parking noted as Open Parking)

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $580k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive. Per door: $289/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 $555k (4.3% below list).
• Recommended offer: $555k (4.3% below list) — sets the bar for 1% rule.
• 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 flat; 369 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $5,551/mo this rent would consume 89% of the median local household income ($75k/yr) (locally 2049% 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 $4k of loan paydown is wiped out by about $17k 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.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($563k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 10y ago; this cycle's ask has dropped $70k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $365k; list at $580k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $555,100 (4.3% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 4% 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 1954 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.96% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.27%
• DSCR: 1.19
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $393,984
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 NE 68th St	0.21mi	3/2.0 (+1)	1,320 (+2%)	13mo	$401,000	$304	71

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.56×
• Total profit: $-71,752
• Equity at exit: $86,480

10-year hold

• IRR: -7.9%
• Equity multiple: 0.56×
• Total profit: $-71,761
• Equity at exit: $50,148

Cash invested: $162,400 (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 33138

• Rents YoY: 0.3%
• Active inventory: 369
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $5,551 medium
• Mortgage (P&I): −$3,042
• Tax from tax record: −$524 /mo · $6,291/yr
• Insurance: −$242
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,166
• Net cashflow: $578

Break-even live

Break-even rent $4,820

Max offer price $580,000

Occupancy floor 85%

Sensitivity live

Price	-10% $906	-5% $742	+0% $578	+5% $414	+10% $249
Rent	-10% $139	-5% $358	+0% $578	+5% $797	+10% $1,016
Rate	-1.0pp $870	-0.5pp $725	base $578	+0.5pp $427	+1.0pp $275

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$5,550
Total (2 units)			$5,551

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: $145,000
• Closing costs: $17,400
• Reserves months: —
• Total cash needed: —

Listing history 46 events

1. 2026-06-21
   days on market $580,000 Active 58 DOM
2. 2026-06-18
   days on market $580,000 Active 55 DOM
3. 2026-06-17
   days on market $580,000 Active 54 DOM
4. 2026-06-16
   days on market $580,000 Active 53 DOM
5. 2026-06-15
   days on market $580,000 Active 52 DOM
6. 2026-06-13
   days on market $580,000 Active 50 DOM
7. 2026-06-09
   days on market $580,000 Active 46 DOM
8. 2026-06-08
   days on market $580,000 Active 45 DOM
9. 2026-06-07
   pricedays on market $580,000 Active 44 DOM
10. 2026-06-04
    days on market $605,000 Active 41 DOM
11. 2026-06-03
    days on market $605,000 Active 40 DOM
12. 2026-06-02
    days on market $605,000 Active 39 DOM
13. 2026-06-01
    days on market $605,000 Active 38 DOM
14. 2026-05-31
    days on market $605,000 Active 37 DOM
15. 2026-05-11
    price $615,000
16. 2026-04-24
    listed $630,000 Active
17. 2026-04-24
    listed $650,000 Active
18. 2026-04-24
    historical
19. 2026-04-23
    historical
20. 2026-04-08
    price $650,000
21. 2026-03-20
    price $665,000
22. 2026-03-04
    price $680,000
23. 2026-02-18
    listed $700,000 Active
24. 2025-07-10
    soldstatus $365,000
25. 2018-12-31
    soldstatus $233,000
26. 2018-12-19
    soldstatus $233,000 Sold
27. 2018-12-11
    status Backup Contract
28. 2018-12-11
    status Pending
29. 2018-11-19
    price $248,000
30. 2018-11-18
    status Active
31. 2018-11-09
    historical
32. 2018-10-19
    price $288,000
33. 2018-10-06
    listed $320,000 Active
34. 2017-04-01
    historical
35. 2017-03-06
    status Active
36. 2017-03-06
    historical
37. 2017-02-23
    price $200,000
38. 2017-02-23
    status Active
39. 2016-09-17
    historical
40. 2016-09-12
    listed $169,000 Active
41. 2013-05-18
    soldstatus $47,000 Sold
42. 2013-04-12
    status Pending
43. 2005-08-12
    soldstatus $185,000
44. 2002-04-16
    soldstatus $90,000
45. 2001-11-07
    soldstatus $48,300
46. 1990-04-17
    soldstatus $45,500

ⓘ 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: $6,291 · $524/mo
• Projected year-2 tax: $6,291 · $524/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 ≥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: $66,612
• − Mortgage interest: −$32,489
• − Property taxes: −$6,291
• − Insurance: −$2,900
• − Repairs & maintenance: −$5,329
• − Management: −$5,329
• − Depreciation: −$16,873
• Taxable loss: −$2,599
• Est. tax savings @ 24.0%: +$624
• After-tax cash flow: $7,557/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): 28,980
• Household income: $75,051
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 2049.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% White 29% Black 29% Two or more races 21% Asian 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 11% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 16% Estonian 2% Lithuanian 2%
• Foreign-born: 41% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 39% French/Haitian/Cajun 19% Other Indo-European 4%

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: ▼ -890.01%
• Current HPI: 551.4791
• Rent YoY: ▲ 0.33%
• 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

+1251.6% since first listed

32 events — show timeline

• 2026-05-11 Price Changed $615,000 MARMLS
• 2026-04-24 Listing Removed — MARMLS
• 2026-04-24 Listed $650,000 MARMLS
• 2026-04-24 Listed $630,000 MARMLS
• 2026-04-23 Listing Removed — MARMLS
• 2026-04-08 Price Changed $650,000 MARMLS
• 2026-03-20 Price Changed $665,000 MARMLS
• 2026-03-04 Price Changed $680,000 MARMLS
• 2026-02-18 Listed $700,000 MARMLS
• 2025-07-10 Sold (Public Records) $365,000 Public Records
• 2018-12-31 Sold (Public Records) $233,000 Public Records
• 2018-12-19 Sold (MLS) $233,000 MARMLS
• 2018-12-11 Pending — MARMLS
• 2018-12-11 Pending — MARMLS
• 2018-11-19 Price Changed $248,000 MARMLS
• 2018-11-18 Relisted — MARMLS
• 2018-11-09 Listing Removed — MARMLS
• 2018-10-19 Price Changed $288,000 MARMLS
• 2018-10-06 Listed $320,000 MARMLS
• 2017-04-01 Listing Removed — MARMLS
• 2017-03-06 Relisted — MARMLS
• 2017-03-06 Listing Removed — MARMLS
• 2017-02-23 Price Changed $200,000 MARMLS
• 2017-02-23 Relisted — MARMLS
• 2016-09-17 Listing Removed — MARMLS
• 2016-09-12 Listed $169,000 MARMLS
• 2013-05-18 Sold (MLS) $47,000 MARMLS
• 2013-04-12 Pending — MARMLS
• 2005-08-12 Sold (Public Records) $185,000 Public Records
• 2002-04-16 Sold (Public Records) $90,000 Public Records
• 2001-11-07 Sold (Public Records) $48,300 Public Records
• 1990-04-17 Sold (Public Records) $45,500 Public Records

Property tax history

+9.8%/yr

Latest (2025): $6,291 · +5.5% YoY. Source: county tax records.