220 NW 11th Ter · Miami, FL 33136

$2,350,000

23 bd · 12.0 ba · 6,234 sqft · MultiFamily public records · 35 Days on market

Built 1960

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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 +27.9/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Appreciation +2.9/10.0
• 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: 12 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

a 12-unit multifamily property located in the Overtown neighborhood of Miami, Florida. The property consists of eleven two-bedroom/one-bathroom units and one one-bedroom/one-bathroom unit across approximately 6,234 square feet of rentable area on a 7,500 SF lot zoned T6-8-O, permitting up to 8 stories of development. The property is currently 83.3% occupied with in-place rents averaging $1,600 per month. The property's T6-8-O zoning supports future redevelopment at up to 8 stories, providing optionality for long-term investors seeking density in Miami's urban core. The generous lot size of 7,500 square feet on a corner parcel further enhances the redevelopment potential of this site.

Key facts

• Multifamily property
• Corner parcel
• Zoned t6-8-o

Tags

• MULTIFAMILY PROPERTY
• ZONED T6-8-O
• 8 STORIES OF DEVELOPMENT
• GENEROUS LOT SIZE
• CORNER PARCEL
• REDEVELOPMENT POTENTIAL

Property features AI

Finance

• Other: Zoning: 6100; Annual tax information available (tax year 2025)
• Financial info: Rent includes gardener, hot water, and trash collection

Exterior

• Parking: Space for 4 vehicles
• Utilities: Cable available; Public sewer
• Home design: 3-story building; Resale property; Facing information not provided
• Construction: Block construction; Flat and tile roof
• Exterior features: Less than quarter acre lot

Interior

• Flooring: Vinyl
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Vinyl flooring; Central heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 11×2bd/1ba + 1×1bd/1ba units multifamily listed at $2.35M.

Deal economics

• At list price, monthly cash flow is $7k ($87k/yr) — positive. Per door: $601/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($28k rent vs $2.35M).
• Recommended offer: $2.28M (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (-0.2%/yr); 56 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 $28,409/mo this rent would consume 760% of the median local household income ($45k/yr) (locally 2267% 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 $16k of loan paydown is wiped out by about $70k 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 35 days — a 3% lower offer ($2.28M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $1.90M; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,279,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.21% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.15%
• DSCR: 1.59
• GRM: 6.9

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-4,976
• Equity at exit: $350,393

10-year hold

• IRR: 6.2%
• Equity multiple: 1.40×
• Total profit: $264,526
• Equity at exit: $203,185

Cash invested: $658,000 (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 33136

• Home prices YoY: -1.1%
• Rents YoY: -0.2%
• Active inventory: 56
• Price-to-rent: 81.7×

Monthly cashflow live

• Estimated rent: $28,409 medium
• Mortgage (P&I): −$12,324
• Tax from tax record: −$1,929 /mo · $23,152/yr
• Insurance: −$979
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,966
• Net cashflow: $7,211

Break-even live

Break-even rent $19,281

Max offer price $2,350,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 11× units	2	1	$26,367
1× unit	1	1	$2,041
Total (12 units)			$28,409

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: $587,500
• Closing costs: $70,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $2,350,000 Active 35 DOM
2. 2026-06-17
   days on market $2,350,000 Active 34 DOM
3. 2026-06-16
   days on market $2,350,000 Active 33 DOM
4. 2026-06-15
   days on market $2,350,000 Active 32 DOM
5. 2026-06-13
   days on market $2,350,000 Active 30 DOM
6. 2026-06-09
   days on market $2,350,000 Active 26 DOM
7. 2026-06-08
   days on market $2,350,000 Active 25 DOM
8. 2026-06-07
   days on market $2,350,000 Active 24 DOM
9. 2026-06-04
   days on market $2,350,000 Active 21 DOM
10. 2026-06-03
    days on market $2,350,000 Active 20 DOM
11. 2026-06-02
    days on market $2,350,000 Active 19 DOM
12. 2026-06-01
    days on market $2,350,000 Active 18 DOM
13. 2026-05-31
    days on market $2,350,000 Active 17 DOM
14. 2026-05-14
    listed $2,350,000 Active
15. 2015-09-21
    soldstatus $1,900,000

ⓘ 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: $23,152 · $1,929/mo
• Projected year-2 tax: $23,152 · $1,929/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 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 · 25 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: $340,908
• − Mortgage interest: −$131,637
• − Property taxes: −$23,152
• − Insurance: −$11,750
• − Repairs & maintenance: −$27,273
• − Management: −$27,273
• − Depreciation: −$68,364
• Taxable income: $51,461
• Est. tax owed @ 24.0%: −$12,351
• After-tax cash flow: $74,181/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): 16,545
• Household income: $44,843
• Rent vs Own: 89.3% rent · 10.7% own
• Severe rent burden: 2267.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 54% Black 32% Two or more races 27% White 8% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 20% Dominican 1% Salvadoran 4%
• Common ancestry: Hispanic 2% Russian 1%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 43% English-only · Spanish 50% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -4.24%
• Current HPI: 369.8981
• Rent YoY: ▼ -0.25%
• 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

+23.7% since first listed

2 events — show timeline

• 2026-05-14 Listed $2,350,000 MARMLS
• 2015-09-21 Sold (Public Records) $1,900,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $23,152 · +13.3% YoY. Source: county tax records.