1346 NW 6th St · Miami, FL 33125

$1,400,000

5 bd · 5.0 ba · 2,888 sqft · MultiFamily public records · 263 Days on market

Built 1948

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 (5+ Unit). Listing-text estimate: 8 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 MLS

Five Units located steps from Marlins Stadium. Zoning T-5 L. Fully rented and generating $7,200/monthly. See current Economics attached. All units are same size and layout and each one has its own patio. New Roof 2021.

Key facts

• Back yard
• Parking space
• Open area

Tags

• OPEN AREA
• BACK YARD
• PARKING SPACE

Property features AI

Finance

• Other: Rent includes gardener, hot water, pest control, sewer, trash collection and water
• Financial info: Actual rent reported: $8,350 (unit(s) leased)

Exterior

• Parking: 5 parking spaces (total)
• Utilities: Cable available; Public sewer
• Home design: Single-story building; Resale property
• Construction: Block construction; Shingle roof
• Exterior features: Less than quarter-acre lot

Interior

• Kitchen: Range; Microwave; Refrigerator; Kitchen(s) included in units; Other equipment/appliances
• Bedrooms: 5 bedrooms (total units combined)
• Flooring: Tile floors
• Bathrooms: 5 full bathrooms (total units combined)
• Heating & cooling: Wall/window air conditioning units
• Interior features: Blinds; Jalousie windows
• Laundry & utility: Washer/dryer details not provided

What this means for you Summary

Snapshot

• This is a 8 × 3-bed/3.1-bath units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $14k ($167k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($30k rent vs $1.40M).
• Recommended offer: $1.23M (12.0% below list) — sets the bar for market timing.
• Cap rate 18.6% 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; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $30,179/mo this rent would consume 805% 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 $10k of loan paydown is wiped out by about $42k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $392k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 263 days — a 12% lower offer ($1.23M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $400k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.10M; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1948 — 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,232,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 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 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 2.16% ✓
• Cap rate: 18.61%
• Cash-on-cash: 44.00%
• DSCR: 2.96
• GRM: 3.9

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: 36.0%
• Equity multiple: 2.46×
• Total profit: $573,628
• Equity at exit: $208,745

10-year hold

• IRR: 41.1%
• Equity multiple: 4.33×
• Total profit: $1,303,984
• Equity at exit: $121,046

Cash invested: $392,000 (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 33125

• Rents YoY: -1.4%
• Active inventory: 239
• Price-to-rent: 30.9×

Monthly cashflow live

• Estimated rent: $30,179 medium
• Mortgage (P&I): −$7,342
• Tax from tax record: −$1,542 /mo · $18,504/yr
• Insurance: −$583
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,338
• Net cashflow: $13,948

Break-even live

Break-even rent $12,524

Max offer price $1,400,000

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 8× units	3	3.1	$30,176
Total (8 units)			$30,179

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: $350,000
• Closing costs: $42,000
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $1,400,000 Active 263 DOM
2. 2026-06-17
   days on market $1,400,000 Active 262 DOM
3. 2026-06-16
   days on market $1,400,000 Active 261 DOM
4. 2026-06-15
   days on market $1,400,000 Active 260 DOM
5. 2026-06-13
   days on market $1,400,000 Active 258 DOM
6. 2026-06-09
   days on market $1,400,000 Active 254 DOM
7. 2026-06-08
   days on market $1,400,000 Active 253 DOM
8. 2026-06-08
   days on market $1,400,000 Active 252 DOM
9. 2026-06-04
   days on market $1,400,000 Active 249 DOM
10. 2026-06-03
    days on market $1,400,000 Active 248 DOM
11. 2026-06-02
    days on market $1,400,000 Active 247 DOM
12. 2026-06-01
    days on market $1,400,000 Active 246 DOM
13. 2026-05-31
    days on market $1,400,000 Active 245 DOM
14. 2026-01-28
    price $1,400,000
15. 2025-09-30
    status Active
16. 2025-08-24
    listed $1,800,000 Active
17. 2022-09-07
    soldstatus $1,100,000
18. 2022-09-01
    soldstatus $1,100,000 Closed 218-char remark

    Show marketing remark (218 chars)

    Five Units located steps from Marlins Stadium. Zoning T-5 L. Fully rented and generating $7,200/monthly. See current Economics attached. All units are same size and layout and each one has its own patio. New Roof 2021.

19. 2022-08-10
    historical Active Under Contract 218-char remark

    Show marketing remark (218 chars)

    Five Units located steps from Marlins Stadium. Zoning T-5 L. Fully rented and generating $7,200/monthly. See current Economics attached. All units are same size and layout and each one has its own patio. New Roof 2021.

20. 2022-06-08
    listed $1,190,000 Active 218-char remark

    Show marketing remark (218 chars)

    Five Units located steps from Marlins Stadium. Zoning T-5 L. Fully rented and generating $7,200/monthly. See current Economics attached. All units are same size and layout and each one has its own patio. New Roof 2021.

21. 2020-12-08
    soldstatus $652,000
22. 2020-11-16
    soldstatus $652,000 Closed 241-char remark

    Show marketing remark (241 chars)

    Five units building fully legal (individual electric meters), located literally a step from Marlins Stadium. Zoning T-5. Fully rented and generating $5,825 per month. Tenants with annual leases. All units are same size, similar layout 1/1's.

23. 2020-10-15
    historical Active Under Contract 241-char remark

    Show marketing remark (241 chars)

    Five units building fully legal (individual electric meters), located literally a step from Marlins Stadium. Zoning T-5. Fully rented and generating $5,825 per month. Tenants with annual leases. All units are same size, similar layout 1/1's.

24. 2020-09-30
    price $650,000 241-char remark

    Show marketing remark (241 chars)

    Five units building fully legal (individual electric meters), located literally a step from Marlins Stadium. Zoning T-5. Fully rented and generating $5,825 per month. Tenants with annual leases. All units are same size, similar layout 1/1's.

25. 2020-09-30
    listed $65,000 Active 241-char remark

    Show marketing remark (241 chars)

    Five units building fully legal (individual electric meters), located literally a step from Marlins Stadium. Zoning T-5. Fully rented and generating $5,825 per month. Tenants with annual leases. All units are same size, similar layout 1/1's.

26. 2017-03-03
    historical
27. 2016-12-12
    listed $550,000 Active
28. 2001-12-26
    soldstatus $260,000
29. 2000-09-21
    soldstatus $185,000
30. 1996-07-18
    soldstatus $130,000

ⓘ 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: $18,504 · $1,542/mo
• Projected year-2 tax: $18,504 · $1,542/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 8/10 Severe FEMA zone AE · 78% 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: $362,148
• − Mortgage interest: −$78,422
• − Property taxes: −$18,504
• − Insurance: −$12,118
• − Repairs & maintenance: −$28,972
• − Management: −$28,972
• − Depreciation: −$40,727
• Taxable income: $154,433
• Est. tax owed @ 24.0%: −$37,064
• After-tax cash flow: $130,309/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

+976.9% since first listed

17 events — show timeline

• 2026-01-28 Price Changed $1,400,000 MARMLS
• 2025-09-30 Relisted — MARMLS
• 2025-08-24 Listed $1,800,000 MARMLS
• 2022-09-07 Sold (Public Records) $1,100,000 Public Records
• 2022-09-01 Sold (MLS) $1,100,000 MARMLS
• 2022-08-10 Contingent — MARMLS
• 2022-06-08 Listed $1,190,000 MARMLS
• 2020-12-08 Sold (Public Records) $652,000 Public Records
• 2020-11-16 Sold (MLS) $652,000 MARMLS
• 2020-10-15 Contingent — MARMLS
• 2020-09-30 Price Changed $650,000 MARMLS
• 2020-09-30 Listed $65,000 MARMLS
• 2017-03-03 Listing Removed — MARMLS
• 2016-12-12 Listed $550,000 MARMLS
• 2001-12-26 Sold (Public Records) $260,000 Public Records
• 2000-09-21 Sold (Public Records) $185,000 Public Records
• 1996-07-18 Sold (Public Records) $130,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $18,504 · +3.0% YoY. Source: county tax records.