1171 NE 182nd St

North Miami Beach, FL 33162

$545,000F

3 bd · 1.0 ba · 1,254 sqft · Built 1956 · SingleFamily · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,053/mo
• Mortgage (P&I): −$2,858
• Tax + insurance: −$331
• HOA: −$0
• Vac / Maint / Mgmt: −$851
• Net cashflow: $13/mo
• Annual: $152/yr
• Cap rate: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• 1% rule: 0.74%
• Cash to close: $152,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $545k.
• At list price, monthly cash flow is $13 ($152/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $405k (25.6% below list).
• It's been on market 54 days — a 3% lower offer ($529k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $405k (25.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#71 in FL, #1,177 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D+, crime 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: Ojus Elementary School (math 56% / reading 59%, grade C+, #764 of 2,144 statewide, top 36%, 776 students, 63% FRL); John F. Kennedy Middle School (math 47% / reading 55%, grade C, #237 of 571 statewide, top 43%, 1,074 students, 67% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL) — zoned schools at 65% FRL track the district average.
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-1.6%/yr); 287 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $80k; list at $545k implies a 581% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 5.2% in North Miami Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $4,053/mo this rent would consume 80% of the median local household income ($61k/yr) (locally 2509% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.