440 SW 5th Ave · Miami, FL 33130

$3,775,000

18 bd · 5832.0 ba · 12,825 sqft · MultiFamily public records · 444 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Appreciation +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

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 443 days

Property features AI

Finance

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

Exterior

• Parking: 9 parking spaces total; On-street parking
• Utilities: Public sewer; Cable not available; Water included in rent; Trash collection included in rent
• Home design: 3 stories; Block construction; Resale property
• Construction: Block construction
• Exterior features: Less than quarter-acre lot; On-street parking available

Interior

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

What this means for you Summary

Snapshot

• This is a 18 × 1-bed/?-bath units multifamily listed at $3.77M.

Deal economics

• At list price, monthly cash flow is $32k ($380k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($74k rent vs $3.77M).
• Recommended offer: $3.32M (12.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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 soft (-0.5%/yr); 639 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $73,907/mo this rent would consume 1454% of the median local household income ($61k/yr) (locally 5231% 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 (-1.8%/yr); year-one equity from $26k of loan paydown is wiped out by about $68k 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 $1.06M cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 444 days — a 12% lower offer ($3.32M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $1.55M; list at $3.77M implies a 144% 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 $3,322,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 444 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: 1.96% ✓
• Cap rate: 16.48%
• Cash-on-cash: 36.39%
• DSCR: 2.62
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 30.5%
• Equity multiple: 2.31×
• Total profit: $1,382,681
• Equity at exit: $770,215

10-year hold

• IRR: 34.4%
• Equity multiple: 3.97×
• Total profit: $3,142,956
• Equity at exit: $693,899

Cash invested: $1,057,000 (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: 639
• Price-to-rent: 76.6×

Monthly cashflow live

• Estimated rent: $73,907 medium
• Mortgage (P&I): −$19,797
• Tax from tax record: −$4,960 /mo · $59,523/yr
• Insurance: −$1,573
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$15,520
• Net cashflow: $31,630

Break-even live

Break-even rent $33,869

Max offer price $3,775,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 18× units	1	—	$73,908
Total (18 units)			$73,907

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: $943,750
• Closing costs: $113,250
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $3,775,000 Active 444 DOM
2. 2026-06-17
   days on market $3,775,000 Active 443 DOM
3. 2026-06-16
   days on market $3,775,000 Active 442 DOM
4. 2026-06-15
   days on market $3,775,000 Active 441 DOM
5. 2026-06-13
   days on market $3,775,000 Active 439 DOM
6. 2026-06-09
   days on market $3,775,000 Active 435 DOM
7. 2026-06-08
   days on market $3,775,000 Active 434 DOM
8. 2026-06-08
   days on market $3,775,000 Active 433 DOM
9. 2026-06-04
   days on market $3,775,000 Active 430 DOM
10. 2026-06-03
    days on market $3,775,000 Active 429 DOM
11. 2026-06-02
    days on market $3,775,000 Active 428 DOM
12. 2026-06-01
    days on market $3,775,000 Active 427 DOM
13. 2026-05-31
    days on market $3,775,000 Active 426 DOM
14. 2026-05-01
    price $3,775,000
15. 2025-11-17
    price $3,849,000
16. 2025-11-10
    status Active
17. 2025-09-03
    status Pending
18. 2025-04-16
    status Active
19. 2024-05-24
    historical
20. 2024-05-08
    status Active Under Contract
21. 2023-10-31
    status Pending
22. 2023-10-31
    historical
23. 2023-08-23
    listed $3,950,000 Active
24. 2012-11-21
    soldstatus $1,550,000
25. 1999-12-27
    soldstatus $330,000
26. 1995-04-24
    soldstatus $355,000
27. 1994-08-01
    soldstatus $320,000

ⓘ 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: $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: $886,884
• − Mortgage interest: −$211,459
• − Property taxes: −$59,523
• − Insurance: −$23,994
• − Repairs & maintenance: −$70,951
• − Management: −$70,951
• − Depreciation: −$109,818
• Taxable income: $340,189
• Est. tax owed @ 24.0%: −$81,645
• After-tax cash flow: $297,918/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): 34,964
• Household income: $61,009
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 5231.0

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 (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%
• Common ancestry: Romanian 2% Estonian 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, Guatemala
• Languages at home: 23% English-only · Spanish 70% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -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

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

+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.