21 NE 53 St · Miami, FL 33137

$850,000

2 bd · 1.0 ba · 843 sqft · MultiFamily public records · 74 Days on market

Built 1935

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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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Owner interested in a business opportunity/partnership for redevelopment. Currently triplex in NE Buenavista next to the Miami Jewish Health Medical Center, Upper Buena Vista outdoor shopping Mall and a short walk from Miami Design District and Wynwood. The property consists of 2 buildings that features a 2/1 on front cottage and 2 loft style units on the first floor and second floor of back structure. Independent FPL meters and ample parking area. This property has a multi-family use and a T-4 zoning. A short drive to Midtown Miami and MiMo district.

Key facts

• 2 buildings
• Ample parking area
• Triplex

Tags

• TRIPLEX
• 2 BUILDINGS
• MINI SPLIT A/C UNITS
• INDEPENDENT FPL METERS
• AMPLE PARKING AREA
• NEW ROOF

Property features AI

Exterior

• Parking: 4 parking spaces total; Open parking
• Utilities: Cable available; Public sewer
• Home design: 2-story building; Raised foundation
• Construction: Block, frame, and stucco construction; Shingle roof; Resale property (existing construction)
• Exterior features: Less than quarter acre lot

Interior

• Bedrooms: 2-bedroom unit (one unit)
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air
• Interior features: Ceramic tile and vinyl flooring; Central air conditioning

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $785/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $850k).
• Recommended offer: $799k (6.0% below list) — sets the bar for market timing.

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.
• Zoned schools: Toussaint L'Ouverture Elementary (math 27% / reading 37%, grade F, #1,797 of 2,144 statewide, top 86%, 337 students, 75% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 68% FRL track the district average.
• Zoned-school proficiency averages 23% at this address vs 50% district-wide (-26 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.7%/yr); 758 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($6k loan paydown + $2k appreciation (0.3% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.3% appreciation + 2.7% rent growth), your $238k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($799k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $281k; list at $850k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $799,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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 1935 — 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: 1.18% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.88%
• DSCR: 1.53
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.56×
• Total profit: $133,355
• Equity at exit: $258,433

10-year hold

• IRR: 15.8%
• Equity multiple: 2.77×
• Total profit: $422,118
• Equity at exit: $320,078

Cash invested: $238,000 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 758
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $10,069 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$787 /mo · $9,444/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,114
• Net cashflow: $2,356

Break-even live

Break-even rent $7,087

Max offer price $850,000

Occupancy floor 72%

Sensitivity live

Price	-10% $2,837	-5% $2,596	+0% $2,356	+5% $2,115	+10% $1,875
Rent	-10% $1,560	-5% $1,958	+0% $2,356	+5% $2,754	+10% $3,151
Rate	-1.0pp $2,784	-0.5pp $2,572	base $2,356	+0.5pp $2,136	+1.0pp $1,911

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$10,068
Total (3 units)			$10,069

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$8,846	$3.33	0d	19	1.21mi
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$13,305	$10.56	3d	13	1.45mi

Listing history 36 events

1. 2026-06-21
   days on market $850,000 Active 74 DOM
2. 2026-06-18
   days on market $850,000 Active 71 DOM
3. 2026-06-17
   days on market $850,000 Active 70 DOM
4. 2026-06-16
   days on market $850,000 Active 69 DOM
5. 2026-06-15
   days on market $850,000 Active 68 DOM
6. 2026-06-13
   days on market $850,000 Active 66 DOM
7. 2026-06-09
   days on market $850,000 Active 62 DOM
8. 2026-06-08
   days on market $850,000 Active 61 DOM
9. 2026-06-07
   days on market $850,000 Active 60 DOM
10. 2026-06-04
    days on market $850,000 Active 57 DOM
11. 2026-06-03
    days on market $850,000 Active 56 DOM
12. 2026-06-02
    days on market $850,000 Active 55 DOM
13. 2026-06-01
    days on market $850,000 Active 54 DOM
14. 2026-05-31
    days on market $850,000 Active 53 DOM
15. 2026-04-08
    listed $850,000 Active
16. 2023-10-27
    historical
17. 2023-10-27
    status Active
18. 2023-08-31
    status Active
19. 2023-06-11
    status Active
20. 2023-05-31
    status Active
21. 2023-04-30
    status Active
22. 2022-10-04
    listed $750,000 Active
23. 2022-09-30
    historical
24. 2022-03-10
    listed $650,000 Active
25. 2021-02-25
    soldstatus $281,250
26. 2020-12-31
    historical
27. 2020-12-11
    price $399,000
28. 2020-07-24
    listed $419,000 Active
29. 2017-08-01
    historical
30. 2016-09-16
    price $350,000
31. 2016-09-15
    listed $325,000 Active
32. 2012-09-26
    soldstatus $60,000
33. 2012-08-13
    soldstatus $47,000
34. 2011-11-27
    listed $90,000
35. 1989-02-15
    soldstatus $32,000
36. 1981-04-01
    soldstatus $20,000

ⓘ 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: $9,444 · $787/mo
• Projected year-2 tax: $9,444 · $787/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 ≥103°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $120,828
• − Mortgage interest: −$47,613
• − Property taxes: −$9,444
• − Insurance: −$4,250
• − Repairs & maintenance: −$9,666
• − Management: −$9,666
• − Depreciation: −$24,727
• Taxable income: $15,461
• Est. tax owed @ 24.0%: −$3,711
• After-tax cash flow: $24,559/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): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 3106.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% Other Indo-European 5%

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: ▲ 0.27%
• Current HPI: 385.1514
• Rent YoY: ▲ 2.73%
• 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

+4150.0% since first listed

22 events — show timeline

• 2026-04-08 Listed $850,000 MARMLS
• 2023-10-27 Listing Removed — MARMLS
• 2023-10-27 Relisted — MARMLS
• 2023-08-31 Relisted — MARMLS
• 2023-06-11 Relisted — MARMLS
• 2023-05-31 Relisted — MARMLS
• 2023-04-30 Relisted — MARMLS
• 2022-10-04 Listed $750,000 MARMLS
• 2022-09-30 Listing Removed — MARMLS
• 2022-03-10 Listed $650,000 MARMLS
• 2021-02-25 Sold (Public Records) $281,250 Public Records
• 2020-12-31 Listing Removed — MARMLS
• 2020-12-11 Price Changed $399,000 MARMLS
• 2020-07-24 Listed $419,000 MARMLS
• 2017-08-01 Listing Removed — MARMLS
• 2016-09-16 Price Changed $350,000 MARMLS
• 2016-09-15 Listed $325,000 MARMLS
• 2012-09-26 Sold (Public Records) $60,000 Public Records
• 2012-08-13 Sold (Public Records) $47,000 Public Records
• 2011-11-27 Listed $90,000 MARMLS
• 1989-02-15 Sold (Public Records) $32,000 Public Records
• 1981-04-01 Sold (Public Records) $20,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $9,444 · +8.8% YoY. Source: county tax records.