161 NE 117th St · North Miami, FL 33161

$839,000

4 bd · 2.0 ba · 2,138 sqft · MultiFamily public records · 93 Days on market

Built 1966

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Why this score? — see what drove the C 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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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

Investment Opportunity – NEW ROOF, NEW FLOORS, NEW KITCHENS, NEW BATHROOMS Duplex for Sale This centrally located duplex offers 3-bedroom + two bedroom, 1-Efficiency units with great value-add potential. Both units are just renovated, perfect for investors seeking upside. NEW ROOF, NEW FLOORS, NEW KITCHENS, NEW BATHROOMS

Key facts

• New floors
• New kitchens
• New bathrooms

Tags

• NEW ROOF
• NEW FLOORS
• NEW KITCHENS
• NEW BATHROOMS

Property features AI

Finance

• Other: Zoning description: 5700
• Financial info: Some units are leased; Unit rents noted: studios $1,500; 2-bedrooms $2,000; 3-bedroom $2,500
• HOA & community: No HOA information provided

Exterior

• Parking: Total of 5 parking spaces (open parking)
• Security: No security features provided
• Utilities: Public sewer; Water included in rent for some units; Cable available
• Home design: Single-story building
• Construction: Brick and block construction; Shingle roof; Year built: Unknown
• Exterior features: Open parking; Less than quarter acre lot

Interior

• Kitchen: No specific kitchen appliances listed
• Bedrooms: Two 2-bedroom units; One 3-bedroom unit; Three efficiency (studio) units
• Flooring: Tile
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Individual air conditioning units in units
• Interior features: Tile flooring; Cable available
• Laundry & utility: No laundry/utility details provided

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $839k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $874/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $839k).
• Recommended offer: $763k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.1% in North 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, employment D.
• 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 (-0.7%/yr); 338 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $9,083/mo this rent would consume 187% of the median local household income ($58k/yr) (locally 3226% 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 $6k of loan paydown is wiped out by about $25k 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 93 days — a 9% lower offer ($763k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $60k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $515k; list at $839k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $763,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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 1966 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.08% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.93%
• DSCR: 1.40
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.78×
• Total profit: $-51,358
• Equity at exit: $125,098

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-4,636
• Equity at exit: $72,541

Cash invested: $234,920 (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 33161

• Rents YoY: -0.7%
• Active inventory: 338
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $9,083 medium
• Mortgage (P&I): −$4,400
• Tax from tax record: −$679 /mo · $8,143/yr
• Insurance: −$350
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,907
• Net cashflow: $1,748

Break-even live

Break-even rent $6,871

Max offer price $839,000

Occupancy floor 76%

Sensitivity live

Price	-10% $2,223	-5% $1,985	+0% $1,748	+5% $1,510	+10% $1,273
Rent	-10% $1,030	-5% $1,389	+0% $1,748	+5% $2,106	+10% $2,465
Rate	-1.0pp $2,170	-0.5pp $1,961	base $1,748	+0.5pp $1,530	+1.0pp $1,309

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$9,082
Total (2 units)			$9,083

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: $209,750
• Closing costs: $25,170
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $839,000 Active 93 DOM
2. 2026-06-17
   days on market $839,000 Active 92 DOM
3. 2026-06-16
   days on market $839,000 Active 91 DOM
4. 2026-06-15
   days on market $839,000 Active 90 DOM
5. 2026-06-13
   days on market $839,000 Active 88 DOM
6. 2026-06-09
   pricedays on market $839,000 Active 84 DOM
7. 2026-06-08
   days on market $849,000 Active 83 DOM
8. 2026-06-07
   days on market $849,000 Active 82 DOM
9. 2026-06-04
   days on market $849,000 Active 79 DOM
10. 2026-06-03
    days on market $849,000 Active 78 DOM
11. 2026-06-02
    days on market $849,000 Active 77 DOM
12. 2026-06-01
    days on market $849,000 Active 76 DOM
13. 2026-05-31
    days on market $849,000 Active 75 DOM
14. 2026-05-20
    price $849,000
15. 2026-05-06
    price $869,000
16. 2026-03-17
    listed $899,000 Active
17. 2025-06-27
    historical
18. 2025-06-03
    listed $890,000 Active
19. 2025-05-09
    historical $2,500
20. 2025-04-11
    listed $2,500
21. 2024-11-27
    soldstatus $515,000
22. 2003-12-31
    soldstatus $175,000
23. 2003-09-03
    soldstatus $151,000
24. 1999-04-27
    soldstatus $114,000

ⓘ 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: $8,143 · $679/mo
• Projected year-2 tax: $8,143 · $679/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 ≥104°F today · 28 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $108,996
• − Mortgage interest: −$46,997
• − Property taxes: −$8,143
• − Insurance: −$4,195
• − Repairs & maintenance: −$8,720
• − Management: −$8,720
• − Depreciation: −$24,407
• Taxable income: $7,814
• Est. tax owed @ 24.0%: −$1,875
• After-tax cash flow: $19,096/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 — North Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

Amenities A+ Commute A+ Cost of living A- Crime B- Employment D Housing A Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% Other Indo-European 2%

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: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• 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

+644.7% since first listed

11 events — show timeline

• 2026-05-20 Price Changed $849,000 MARMLS
• 2026-05-06 Price Changed $869,000 MARMLS
• 2026-03-17 Listed $899,000 MARMLS
• 2025-06-27 Listing Removed — MARMLS
• 2025-06-03 Listed $890,000 MARMLS
• 2025-05-09 Rental Removed $2,500 LISTANZA
• 2025-04-11 Listed for Rent $2,500 LISTANZA
• 2024-11-27 Sold (Public Records) $515,000 Public Records
• 2003-12-31 Sold (Public Records) $175,000 Public Records
• 2003-09-03 Sold (Public Records) $151,000 Public Records
• 1999-04-27 Sold (Public Records) $114,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $8,143 · +95.8% YoY. Source: county tax records.