1800 NW 18th Ter · Miami, FL 33125

$819,000

6 bd · 3.0 ba · 2,636 sqft · MultiFamily public records · 15 Days on market

Built 1925

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• 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

Residential Income perfect for investors. Spacious corner lot. This is a legal duplex operating as a triplex. 3 units with 2 bedrooms and 1 bath each. Units are rented with excellent tenants. Washer and dryer inside each unit. Close to everything you need like Hospital, expressways, schools and more. Easy to show.

Key facts

• Washer and dryer
• Close to everything
• Corner lot

Tags

• CORNER LOT
• WASHER AND DRYER
• CLOSE TO EVERYTHING

Property features AI

Finance

• Financial info: Units generate rent: units rented at $2,200; $2,300; and $2,500

Exterior

• Parking: Six parking spaces; Other parking (unspecified type)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story building; Block construction; Resale property
• Construction: Block construction
• Exterior features: Less than quarter-acre lot

Interior

• Bedrooms: Three 2-bedroom units
• Flooring: Tile
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Tile flooring
• Laundry & utility: Each unit has access to a laundry room

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $819k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $749/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $819k).
• Recommended offer: $807k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 (-1.4%/yr); 239 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $9,522/mo this rent would consume 254% of the median local household income ($45k/yr) (locally 5223% 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 $6k of loan paydown is wiped out by about $25k 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 15 days — a 2% lower offer ($807k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $470k; list at $819k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $806,715 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.16% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.07%
• DSCR: 1.45
• GRM: 7.2

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: -7.9%
• Equity multiple: 0.72×
• Total profit: $-64,878
• Equity at exit: $122,116

10-year hold

• IRR: -3.0%
• Equity multiple: 0.83×
• Total profit: $-40,035
• Equity at exit: $70,812

Cash invested: $229,320 (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 33125

• Rents YoY: -1.4%
• Active inventory: 239
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $9,522 medium
• Mortgage (P&I): −$4,295
• Tax from tax record: −$962 /mo · $11,547/yr
• Insurance: −$341
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,000
• Net cashflow: $1,497

Break-even live

Break-even rent $7,627

Max offer price $819,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$9,522
Total (2 units)			$9,522

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: $204,750
• Closing costs: $24,570
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2951 NW 13th St Unit 1399868P Miami, FL	4.0–8.0	3.5–6.0	3745	$17,671	$4.72	7d	2	1.21mi

Listing history 22 events

1. 2026-06-17
   status $819,000 Pending 15 DOM
2. 2026-06-16
   days on market $819,000 Active 15 DOM
3. 2026-06-15
   days on market $819,000 Active 14 DOM
4. 2026-06-13
   days on market $819,000 Active 12 DOM
5. 2026-06-09
   days on market $819,000 Active 8 DOM
6. 2026-06-08
   days on market $819,000 Active 7 DOM
7. 2026-06-07
   days on market $819,000 Active 6 DOM
8. 2026-06-04
   days on market $819,000 Active 3 DOM
9. 2026-06-03
   days on market $819,000 Active 2 DOM
10. 2026-06-02
    remarks 315-char remark
11. 2026-06-02
    remarks 269-char remark
12. 2026-06-02
    pricedays on marketlisting id $819,000 Active 1 DOM
13. 2026-02-01
    status Active
14. 2026-01-30
    status Pending
15. 2025-12-31
    status Active
16. 2025-12-23
    status Pending
17. 2025-12-03
    listed $840,000 Active
18. 2022-08-08
    soldstatus $470,000
19. 2017-04-06
    soldstatus $230,000
20. 2005-08-04
    soldstatus $200,000
21. 1983-11-01
    soldstatus $50,000
22. 1973-08-01
    soldstatus $38,000

ⓘ 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: $11,547 · $962/mo
• Projected year-2 tax: $11,547 · $962/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 6/10 Major FEMA zone AE · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $114,264
• − Mortgage interest: −$45,877
• − Property taxes: −$11,547
• − Insurance: −$9,214
• − Repairs & maintenance: −$9,141
• − Management: −$9,141
• − Depreciation: −$23,825
• Taxable income: $5,519
• Est. tax owed @ 24.0%: −$1,325
• After-tax cash flow: $16,645/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): 56,897
• Household income: $44,979
• Rent vs Own: 74.0% rent · 26.0% own
• Severe rent burden: 5223.0

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: Predominantly Hispanic (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 52% White 4% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 46% Dominican 3% Salvadoran 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 68% · Canada, Jamaica, Dominican Republic
• Languages at home: 9% English-only · Spanish 90%

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: ▼ -402.98%
• Current HPI: 476.1631
• Rent YoY: ▼ -1.39%
• 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

+2110.5% since first listed

10 events — show timeline

• 2026-02-01 Relisted — MARMLS
• 2026-01-30 Pending — MARMLS
• 2025-12-31 Relisted — MARMLS
• 2025-12-23 Pending — MARMLS
• 2025-12-03 Listed $840,000 MARMLS
• 2022-08-08 Sold (Public Records) $470,000 Public Records
• 2017-04-06 Sold (Public Records) $230,000 Public Records
• 2005-08-04 Sold (Public Records) $200,000 Public Records
• 1983-11-01 Sold (Public Records) $50,000 Public Records
• 1973-08-01 Sold (Public Records) $38,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $11,547 · +18.8% YoY. Source: county tax records.