440 SW 5th Ave · Miami, FL 33130

$3,650,000

18 bd · 324.0 ba · 12,825 sqft · MultiFamily public records · 577 Days on market

Built 1925 Good condition $285/sqft · 19% below area Est $4.5M · 19% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.4/5.0
• Schools +2.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 18 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

FAB. 18 UNIT OLD SPANISH STYLE BUILDING, MINUTES FROM DOWN TOWN MIAMI AND WITHIN WALKING DISTANCE FROM BRICKELL. BUILDING. WAS TOTALLY RENOVATED IN 2010. ROOF WAS REDONE IN 2006 AND AGAIN IN 2020. SEVERAL OF THE AC UNITS AND APPLIANCES HAVE BEEN REPLACED SINCE . GREAT RENTAL INCOME PLUS $3600 IN LAUNDRY RECEIPTS. PLEASE TO NOT DISTURBED TENANT. 50 YEAR PLUS RE-CERTIFICATION COMPLETED IN JULY 2025 . WILL SHOW AFTER A SIGNED LETTER OF INTENT OR CONTRACT. SEE ATTACHMENT FOR MORE INFO.

Key facts

• 9 parking spots
• Built 1925
• Listed 576 days

What this means for you Summary

Snapshot

• This is a 18 × 1-bed/1.0-bath units multifamily listed at $3.65M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $24k ($287k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($63k rent vs $3.65M).
• Recommended offer: $3.21M (12.0% below list) — sets the bar for market timing.

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.
• Zoned schools: Riverside Elementary School (math 23% / reading 23%, grade F, #2,070 of 2,144 statewide, top 97%, 993 students, 56% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 61% FRL track the district average.
• Zoned-school proficiency averages 20% at this address vs 50% district-wide (-29 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 1038 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $25k of loan paydown is wiped out by about $65k 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 (-1.8% appreciation + 0.0% rent growth), your $1.02M cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 577 days — a 12% lower offer ($3.21M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $300k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.55M; list at $3.65M implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,212,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 577 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.73% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.58%
• DSCR: 2.27
• GRM: 4.8

CMA / ARV

• ARV (median comp): $4,500,000
• List price: $3,650,000
• Delta: -18.89%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-1.79% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 1.92×
• Total profit: $936,456
• Equity at exit: $744,711

10-year hold

• IRR: 26.0%
• Equity multiple: 3.19×
• Total profit: $2,236,525
• Equity at exit: $670,923

Cash invested: $1,022,000 (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 33130

• Home prices YoY: -0.5%
• Rents YoY: -0.5%
• Active inventory: 1038
• Price-to-rent: 86.6×

Monthly cashflow live

• Estimated rent: $63,249 medium
• Mortgage (P&I): −$19,141
• Tax from tax record: −$4,960 /mo · $59,523/yr
• Insurance: −$1,521
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$13,282
• Net cashflow: $23,918

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

Units	Beds	Baths	Est. rent
▸ 18× units	1	1	$63,252
Total (18 units)			$63,249

Break-even live

Break-even rent $32,973

Max offer price $3,650,000

Occupancy floor 57%

Sensitivity live

Price	-10% $25,984	-5% $24,951	+0% $23,918	+5% $22,885	+10% $21,852
Rent	-10% $18,921	-5% $21,420	+0% $23,918	+5% $26,416	+10% $28,915
Rate	-1.0pp $25,756	-0.5pp $24,846	base $23,918	+0.5pp $22,972	+1.0pp $22,010

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: $912,500
• Closing costs: $109,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
245 SW 6th Ave Apt C9 Miami, FL	2.0	1.0	1000	$17,450	$17.45	51d	1	0.16mi
235 SW 6th Ave Miami, FL	2.0	1.0	1000	$17,450	$17.45	24d	1	0.17mi
481 Brickell Ave Unit 1520375P Miami, FL	1.0	1.0	—	$19,125	—	165d	1	0.82mi
300 Biscayne Boulevard Way Unit 5105W Miami, FL	2.0	3.5	1552	$25,000	$16.11	10d	1	0.97mi
300 Biscayne Boulevard Way Unit 5105W Miami, FL	2.0	3.5	1552	$25,000	$16.11	31d	1	0.97mi
300 Biscayne Boulevard Way Apt 5105 Miami, FL	2.0	3.0	1552	$25,000	$16.11	0d	1	0.97mi
300 Biscayne Boulevard Way Unit 2609W Miami, FL	2.0	2.5	1437	$20,000	$13.92	83d	1	0.97mi
300 Biscayne Boulevard Way Unit 3109W Miami, FL	2.0	2.5	1437	$20,000	$13.92	107d	1	0.97mi
300 Biscayne Boulevard Way #2306 Miami, FL	2.0	2.5	1600	$17,500	$10.94	131d	1	0.97mi
601 NE 1st Ave Unit 1227496P Miami, FL	3.0	1.0–3.0	904	$10,326	$11.42	1d	4	1.07mi
159 NE 6th St Unit 1032222P Miami, FL	3.0	1.0–3.0	796	$7,662	$9.63	56d	4	1.07mi
888 Biscayne Blvd #5701 Miami, FL	2.0	2.0	1959	$22,000	$11.23	10d	1	1.24mi
888 Biscayne Blvd #5701 Miami, FL	2.0	2.0	1959	$19,900	$10.16	13d	1	1.24mi

Property features AI

Finance

• Other: Zoning code: 3900
• Financial info: Total actual rent reported: $338,440Operating expenses reported: $87,259

Exterior

• Parking: 9 parking spaces totalOn-street parking
• Utilities: Public sewerCable not availableWater included in rentTrash collection included in rent
• Home design: 3 storiesBlock constructionResale property
• Construction: Block construction
• Exterior features: Less than quarter-acre lotOn-street parking available

Interior

• Bedrooms: 18 one-bedroom units
• Flooring: Tile
• Bathrooms: 18 full bathrooms
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Tile flooring

Listing history 50 events

1. 2026-10-29
   days on market $3,650,000 Active 577 DOM
2. 2026-10-27
   days on market $3,650,000 Active 575 DOM
3. 2026-10-26
   days on market $3,650,000 Active 574 DOM
4. 2026-10-26
   days on market $3,650,000 Active 573 DOM
5. 2026-10-24
   days on market $3,650,000 Active 572 DOM
6. 2026-10-23
   days on market $3,650,000 Active 571 DOM
7. 2026-10-22
   days on market $3,650,000 Active 570 DOM
8. 2026-10-21
   days on market $3,650,000 Active 569 DOM
9. 2026-10-20
   days on market $3,650,000 Active 568 DOM
10. 2026-10-19
    days on market $3,650,000 Active 567 DOM
11. 2026-10-18
    days on market $3,650,000 Active 566 DOM
12. 2026-10-17
    days on market $3,650,000 Active 565 DOM
13. 2026-10-16
    days on market $3,650,000 Active 564 DOM
14. 2026-10-15
    days on market $3,650,000 Active 563 DOM
15. 2026-10-14
    days on market $3,650,000 Active 562 DOM
16. 2026-10-13
    days on market $3,650,000 Active 561 DOM
17. 2026-10-12
    days on market $3,650,000 Active 560 DOM
18. 2026-10-11
    days on market $3,650,000 Active 559 DOM
19. 2026-10-10
    days on market $3,650,000 Active 558 DOM
20. 2026-10-09
    days on market $3,650,000 Active 557 DOM
21. 2026-10-09
    days on market $3,650,000 Active 556 DOM
22. 2026-10-06
    days on market $3,650,000 Active 554 DOM
23. 2026-10-05
    price $3,650,000 Active 553 DOM
24. 2026-10-05
    days on market $3,700,000 Active 553 DOM
25. 2026-10-04
    days on market $3,700,000 Active 552 DOM
26. 2026-10-04
    days on market $3,700,000 Active 551 DOM
27. 2026-10-03
    days on market $3,700,000 Active 550 DOM
28. 2026-09-30
    days on market $3,700,000 Active 548 DOM
29. 2026-09-29
    days on market $3,700,000 Active 547 DOM
30. 2026-09-28
    days on market $3,700,000 Active 546 DOM
31. 2026-09-27
    days on market $3,700,000 Active 545 DOM
32. 2026-09-22
    days on market $3,700,000 Active 540 DOM
33. 2026-09-20
    days on market $3,700,000 Active 538 DOM
34. 2026-09-18
    days on market $3,700,000 Active 536 DOM
35. 2026-09-17
    days on market $3,700,000 Active 535 DOM
36. 2026-09-16
    days on market $3,700,000 Active 534 DOM
37. 2026-09-15
    days on market $3,700,000 Active 533 DOM
38. 2026-09-13
    days on market $3,700,000 Active 531 DOM
39. 2026-09-12
    days on market $3,700,000 Active 530 DOM
40. 2026-09-11
    days on market $3,700,000 Active 529 DOM
41. 2026-09-06
    days on market $3,700,000 Active 523 DOM
42. 2026-09-04
    days on market $3,700,000 Active 522 DOM
43. 2026-08-31
    days on market $3,700,000 Active 518 DOM
44. 2026-08-29
    days on market $3,700,000 Active 516 DOM
45. 2026-08-28
    days on market $3,700,000 Active 515 DOM
46. 2026-08-27
    days on market $3,700,000 Active 514 DOM
47. 2026-08-26
    days on market $3,700,000 Active 513 DOM
48. 2026-08-25
    days on market $3,700,000 Active 512 DOM
49. 2026-08-23
    days on market $3,700,000 Active 510 DOM
50. 2026-08-21
    days on market $3,700,000 Active 508 DOM

ⓘ 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: $59,523 · $4,960/mo
• Projected year-2 tax: $59,523 · $4,960/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 7/10 Severe FEMA zone AE · 95% 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: $758,988
• − Mortgage interest: −$204,457
• − Property taxes: −$59,523
• − Insurance: −$23,368
• − Repairs & maintenance: −$60,719
• − Management: −$60,719
• − Depreciation: −$106,182
• Taxable income: $244,020
• Est. tax owed @ 24.0%: −$58,565
• After-tax cash flow: $228,452/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.

Condition & rehab AI · 9 photos

Good 80/100 Cosmetic rehab Est. rehab $64,125–$192,375 screening

This multi-family building is in good condition with a good roof and interior. It has a good curb appeal and is located in a prime location. The property has been renovated in 2010 and several AC units and appliances have been replaced since then. The property is move-in ready and has a good rental income potential.

Components & finishes AI

Roof flat membrane · good Flooring tile

Deferred maintenance Est. $2,000–$8,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Minor Windows (windows) — No visible signs of damage or wear on the windows.
• Minor Electrical (electrical) — No visible signs of damage or wear on the electrical components.
• Minor Plumbing (plumbing) — No visible signs of damage or wear on the plumbing.

Value-add opportunities

• Both Paint the exterior walls — Painting the exterior walls can improve the curb appeal and increase the property's resale and rental value. ↑
• Both Replace any damaged tiles — Replacing damaged tiles can improve the appearance of the interior and increase the property's resale and rental value. ↑
• Both Replace any worn-out appliances — Replacing worn-out appliances can improve the functionality of the property and increase its rental value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 20/100

Zoned Schools

Elementary Riverside Elementary School F FL #2,070/2,144 Nat'l #31,702/41,679 Middle Jose De Diego Middle School F FL #549/571 Nat'l #11,208/14,009 High Booker T. Washington Senior High F FL #604/667 Nat'l #15,239/17,239

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

B Composite livability gradescore 78/100

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 · 3,126,439 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 34,964
• Household income: $61,009
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 44% White 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 24% Dominican 4%
• Languages at home: 23% English-only · Spanish 70% Other Indo-European 2% Russian/Polish/Slavic 1%

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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: ▼ -1.79%
• Current HPI: 344.7752
• Rent YoY: ▼ -0.53%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: Zoning code: 3900
• Financial info: Total actual rent reported: $338,440Operating expenses reported: $87,259

Exterior

• Parking: 9 parking spaces totalOn-street parking
• Utilities: Public sewerCable not availableWater included in rentTrash collection included in rent
• Home design: 3 storiesBlock constructionResale property
• Construction: Block construction
• Exterior features: Less than quarter-acre lotOn-street parking available

Interior

• Bedrooms: 18 one-bedroom units
• Flooring: Tile
• Bathrooms: 18 full bathrooms
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Tile flooring

Price history

+1079.7% since first listed

14 events — show timeline

• 2026-05-01 Price Changed $3,775,000 MARMLS
• 2025-11-17 Price Changed $3,849,000 MARMLS
• 2025-11-10 Relisted — MARMLS
• 2025-09-03 Pending — MARMLS
• 2025-04-16 Relisted — MARMLS
• 2024-05-24 Listing Removed — MARMLS
• 2024-05-08 Relisted — MARMLS
• 2023-10-31 Pending — MARMLS
• 2023-10-31 Listing Removed — MARMLS
• 2023-08-23 Listed $3,950,000 MARMLS
• 2012-11-21 Sold (Public Records) $1,550,000 Public Records
• 1999-12-27 Sold (Public Records) $330,000 Public Records
• 1995-04-24 Sold (Public Records) $355,000 Public Records
• 1994-08-01 Sold (Public Records) $320,000 Public Records

Property tax history

+11.8%/yr

Latest (2025): $59,523 · +12.2% YoY. Source: county tax records.