None · Miami, FL 33138

$760,000

3 bd · 3.0 ba · 1,811 sqft · MultiFamily public records · 289 Days on market

Built 1960

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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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.5/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• 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 MLS

Great income producing property in exellent condition

Key facts

• Historic neighbor
• Design district
• New roof

Tags

• NEW ROOF
• HURRICANE IMPACT WINDOWS
• HISTORIC NEIGHBOR
• DESIGN DISTRICT

Property features AI

Finance

• Other: Property contains multiple furnished units: an efficiency (1 unit, 1 bath, ~1000 area), a 1-bedroom (1 unit, 1 bath, ~1500 area), and a 2-bedroom (1 unit, 2 baths)
• Financial info: Rental units listed as month-to-month; Water included in rent for units
• HOA & community: No HOA information provided

Exterior

• Parking: Five total parking spaces; Parking spaces associated with individual units
• Security: No security features provided
• Utilities: Public sewer; Cable available
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Effective year built (details not specified)
• Exterior features: Less than quarter acre lot

Interior

• Kitchen: Units include standard kitchen with parking space and air conditioning noted in unit descriptions
• Bedrooms: One furnished 1-bedroom unit (month-to-month)
• Flooring: Tile
• Bathrooms: One full bathroom in each unit (units include 1, 1, and 2 full baths respectively)
• Heating & cooling: Central heating; Central air conditioning; Individual air conditioning unit listed for some units
• Interior features: Tile flooring
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/4.0-bath units multifamily listed at $760k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $528/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 $721k (5.1% below list).
• Recommended offer: $669k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 flat; 368 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $7,210/mo this rent would consume 115% of the median local household income ($75k/yr) (locally 2049% 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 $5k of loan paydown is wiped out by about $23k 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 289 days — a 12% lower offer ($669k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $190k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $760k implies a 2071% 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $668,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 289 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 1960 — 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. 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.
10. 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.
11. 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: 0.95% ✗
• Cap rate: 7.96%
• Cash-on-cash: 5.95%
• DSCR: 1.26
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.65×
• Total profit: $-75,088
• Equity at exit: $113,318

10-year hold

• IRR: -4.3%
• Equity multiple: 0.75×
• Total profit: $-53,330
• Equity at exit: $65,711

Cash invested: $212,800 (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 33138

• Rents YoY: 0.3%
• Active inventory: 368
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $7,210 medium
• Mortgage (P&I): −$3,986
• Tax from tax record: −$339 /mo · $4,064/yr
• Insurance: −$317
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,514
• Net cashflow: $1,055

Break-even live

Break-even rent $5,874

Max offer price $760,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	4	$7,210
Total (2 units)			$7,210

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: $190,000
• Closing costs: $22,800
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $760,000 Active 289 DOM
2. 2026-06-17
   days on market $760,000 Active 288 DOM
3. 2026-06-16
   days on market $760,000 Active 287 DOM
4. 2026-06-15
   days on market $760,000 Active 286 DOM
5. 2026-06-13
   days on market $760,000 Active 284 DOM
6. 2026-06-09
   days on market $760,000 Active 280 DOM
7. 2026-06-08
   days on market $760,000 Active 279 DOM
8. 2026-06-08
   pricedays on market $760,000 Active 278 DOM
9. 2026-06-04
   days on market $850,000 Active 275 DOM
10. 2026-06-03
    days on market $850,000 Active 274 DOM
11. 2026-06-02
    days on market $850,000 Active 273 DOM
12. 2026-06-01
    days on market $850,000 Active 272 DOM
13. 2026-05-31
    days on market $850,000 Active 271 DOM
14. 2026-01-19
    price $850,000
15. 2025-12-05
    price $900,000
16. 2025-09-02
    listed $950,000 Active
17. 2013-04-11
    soldstatus $35,000
18. 2013-02-22
    soldstatus $35,000 53-char remark

    Show marketing remark (53 chars)

    Great income producing property in exellent condition

19. 2012-07-10
    listed $40,000 53-char remark

    Show marketing remark (53 chars)

    Great income producing property in exellent condition

20. 1997-01-22
    soldstatus $62,000
21. 1985-01-01
    soldstatus $54,000
22. 1981-06-01
    soldstatus $45,000

ⓘ 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: $4,064 · $339/mo
• Projected year-2 tax: $6,308 · $526/mo
• Expected delta: +$2,244/yr (+$187/mo · 55.2%)

ⓘ 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 ≥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: $86,520
• − Mortgage interest: −$42,572
• − Property taxes: −$4,064
• − Insurance: −$3,800
• − Repairs & maintenance: −$6,922
• − Management: −$6,922
• − Depreciation: −$22,109
• Taxable income: $132
• Est. tax owed @ 24.0%: −$32
• After-tax cash flow: $12,629/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): 28,980
• Household income: $75,051
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 2049.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% White 29% Black 29% Two or more races 21% Asian 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 11% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 16% Estonian 2% Lithuanian 2%
• Foreign-born: 41% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 39% French/Haitian/Cajun 19% Other Indo-European 4%

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: ▼ -890.01%
• Current HPI: 551.4791
• Rent YoY: ▲ 0.33%
• 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

+1788.9% since first listed

9 events — show timeline

• 2026-01-19 Price Changed $850,000 MARMLS
• 2025-12-05 Price Changed $900,000 MARMLS
• 2025-09-02 Listed $950,000 MARMLS
• 2013-04-11 Sold (Public Records) $35,000 Public Records
• 2013-02-22 Sold (MLS) $35,000 Beaches MLS
• 2012-07-10 Listed $40,000 Beaches MLS
• 1997-01-22 Sold (Public Records) $62,000 Public Records
• 1985-01-01 Sold (Public Records) $54,000 Public Records
• 1981-06-01 Sold (Public Records) $45,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $4,064 · +6.0% YoY. Source: county tax records.