2775 NW 57th St

Brownsville, FL 33142

$749,900D+

2 bd · 2.0 ba · 601 sqft · Built 1947 · MultiFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,822/mo
• Mortgage (P&I): −$3,933
• Tax + insurance: −$770
• HOA: −$0
• Vac / Maint / Mgmt: −$1,433
• Net cashflow: $687/mo
• Annual: $8,246/yr
• Cap rate: 7.39%
• Cash-on-cash: 3.93%
• DSCR: 1.17
• 1% rule: 0.91%
• Cash to close: $209,972

Investor read

• This is a 4 × 2-bed/2.5-bath units multifamily listed at $750k.
• At list price, monthly cash flow is $687 ($8k/yr) — positive. Per door: $172/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 $682k (9.0% below list).
• It's been on market 38 days — a 3% lower offer ($727k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $682k (9.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#246 in FL, #3,900 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety B+; Watch: amenities F, employment 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: Earlington Heights Elementary School (math 52% / reading 37%, grade F, #1,288 of 2,144 statewide, top 62%, 340 students, 76% FRL); Miami Springs Middle School (math 21% / reading 25%, grade F, #542 of 571 statewide, top 95%, 640 students, 74% FRL); Miami Springs Senior High School (math 17% / reading 37%, grade F, #478 of 667 statewide, top 73%, 998 students, 70% FRL).
• Zoned-school proficiency averages 32% at this address vs 50% district-wide (-18 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-0.4%/yr); 271 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).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $415k; list at $750k implies a 81% gain — meaningful room to come down on a strong offer.
• 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.
• At $6,822/mo this rent would consume 207% 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.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1947 — 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.
• Schools are A-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?
• 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.