1436 NW 51st Ter · Miami, FL 33142

$620,000

4 bd · 2.0 ba · 1,548 sqft · MultiFamily public records · 104 Days on market

Built 1926 Est $703k · 12% under

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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 +14.1/30.0
• ARV discount +12.8/15.0
• DSCR +4.3/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• 1% rule +3.1/10.0
• 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: 2 units. confirmed

Listing remarks

Gorgeous and cozy duplex for sale in a Miami desired area, rented month to month, tenants may stay or leave if you are looking to buy a property that help you pay the mortgage and reduce your living cost while growing a good asset. First unit has 2 bedrooms, a studio that may be use as extra bedroom, living-room, full kitchen, and 1 bathroom, while the 2nd unit has 2 bedrooms, living-room, full kitchen and 1 bathroom, independent meters, laundry room and ACs. The roof is fairly new, all windows are impact, full structure was freshly painted. There is also a large driveway with enough area for 3 vehicles and a large lot completely fenced. All kitchen cabinets and toilets are new, and all

Key facts

• Large driveway
• Laundry room
• Fenced

Tags

• INDEPENDENT METERS
• LAUNDRY ROOM
• LARGE DRIVEWAY
• LARGE LOT
• FENCED
• NEW KITCHEN CABINETS

Property features AI

Finance

• Financial info: Property contains multiple rental units (investor/multifamily): two 2-bed units and one 3-bed unit

Exterior

• Parking: Other parking
• Utilities: Cable service not available
• Home design: 2-story building; Resale property
• Exterior features: Lot size is less than a quarter acre

Interior

• Bedrooms: Two 2-bedroom units; One 3-bedroom unit
• Bathrooms: Each unit has 1 full bathroom
• Interior features: Less than quarter acre lot
• Laundry & utility: Shared or in-building laundry room

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $620k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive. Per door: $47/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 $499k (19.5% below list).
• Recommended offer: $499k (19.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 (-0.4%/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 $4,994/mo this rent would consume 151% 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 $4k of loan paydown is wiped out by about $19k 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 104 days — a 9% lower offer ($564k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $200k; list at $620k implies a 210% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — 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 $499,400 (19.5% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 19% 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 1926 — 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. 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?
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: 0.81% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.65%
• DSCR: 1.03
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $702,792
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1846-1848 NW 43rd St	0.65mi	4/2.0	1,512 (-2%)	4mo	$455,000	$301	63
1946 NW 49th St	0.55mi	4/3.0	1,520 (-2%)	18mo	$690,000	$454	52

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.37×
• Total profit: $-109,332
• Equity at exit: $92,444

10-year hold

• IRR: -17.3%
• Equity multiple: 0.17×
• Total profit: $-144,863
• Equity at exit: $53,606

Cash invested: $173,600 (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: 20.7×

Monthly cashflow live

• Estimated rent: $4,994 medium
• Mortgage (P&I): −$3,251
• Tax from tax record: −$342 /mo · $4,104/yr
• Insurance: −$258
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,049
• Net cashflow: $94

Break-even live

Break-even rent $4,876

Max offer price $620,000

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$4,994
Total (2 units)			$4,994

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: $155,000
• Closing costs: $18,600
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $620,000 Active 104 DOM
2. 2026-06-17
   days on market $620,000 Active 103 DOM
3. 2026-06-16
   days on market $620,000 Active 102 DOM
4. 2026-06-15
   days on market $620,000 Active 101 DOM
5. 2026-06-13
   days on market $620,000 Active 99 DOM
6. 2026-06-09
   days on market $620,000 Active 95 DOM
7. 2026-06-08
   days on market $620,000 Active 94 DOM
8. 2026-06-07
   days on market $620,000 Active 93 DOM
9. 2026-06-04
   days on market $620,000 Active 90 DOM
10. 2026-06-03
    days on market $620,000 Active 89 DOM
11. 2026-06-02
    days on market $620,000 Active 88 DOM
12. 2026-06-01
    days on market $620,000 Active 87 DOM
13. 2026-05-31
    days on market $620,000 Active 86 DOM
14. 2026-03-06
    listed $620,000 Active
15. 2024-12-31
    historical
16. 2024-03-13
    listed $595,000 Active
17. 2022-06-27
    historical
18. 2022-04-04
    price $475,000
19. 2022-01-28
    listed $460,000 Active
20. 2005-09-28
    soldstatus $200,000
21. 2000-11-21
    soldstatus $79,000
22. 1988-11-01
    soldstatus $15,200
23. 1981-07-01
    soldstatus $22,500

ⓘ 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: $4,104 · $342/mo
• Projected year-2 tax: $5,146 · $429/mo
• Expected delta: +$1,042/yr (+$87/mo · 25.4%)

ⓘ 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) · 22% 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: $59,928
• − Mortgage interest: −$34,730
• − Property taxes: −$4,104
• − Insurance: −$3,100
• − Repairs & maintenance: −$4,794
• − Management: −$4,794
• − Depreciation: −$18,036
• Taxable loss: −$9,630
• Est. tax savings @ 24.0%: +$2,311
• After-tax cash flow: $3,434/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

+2655.6% since first listed

10 events — show timeline

• 2026-03-06 Listed $620,000 MARMLS
• 2024-12-31 Listing Removed — MARMLS
• 2024-03-13 Listed $595,000 MARMLS
• 2022-06-27 Listing Removed — MARMLS
• 2022-04-04 Price Changed $475,000 MARMLS
• 2022-01-28 Listed $460,000 MARMLS
• 2005-09-28 Sold (Public Records) $200,000 Public Records
• 2000-11-21 Sold (Public Records) $79,000 Public Records
• 1988-11-01 Sold (Public Records) $15,200 Public Records
• 1981-07-01 Sold (Public Records) $22,500 Public Records

Property tax history

+6.4%/yr

Latest (2025): $4,104 · +9.1% YoY. Source: county tax records.