5743 NW 3rd Ave · Miami, FL 33127

$1,200,000

6 bd · 3.0 ba · 2,572 sqft · MultiFamily public records · 111 Days on market

Built 1970 Est $1469k · 18% under

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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 +18.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• 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: 4 units. confirmed

Listing remarks

Great investment income property. Minucipal zone as T3O and Primary Land Use 0803 MULTIFAMILY 2-9 UNITS: MULTIFAMILY 3 OR MORE UNITS. All four units are leased. Three bedrooms, two bathrooms, and a studio.

Key facts

• 2 parking spots
• Built 1970
• Listed 110 days

Property features AI

Exterior

• Parking: Total of 2 parking spaces (plus on-street parking for units)
• Utilities: Cable available; Public sewer; Water included in rent for some units
• Home design: Single-story building; New construction
• Construction: Flat roof; Year built: Unknown; New construction
• Exterior features: Quarter- to half-acre lot; On-street parking available

Interior

• Bedrooms: Multiple units with 2-bedroom units (several units are 2-bedroom); Also includes efficiency units
• Flooring: Tile
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Wall furnace heating; Wall/window cooling units
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2.5-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $300/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 $1.11M (7.1% below list).
• Recommended offer: $1.09M (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 rising (+2.3%/yr); 296 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $11,147/mo this rent would consume 324% of the median local household income ($41k/yr) (locally 2523% 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 $8k of loan paydown is wiped out by about $36k 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 111 days — a 9% lower offer ($1.09M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y 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 $242k; list at $1.20M implies a 395% 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 $1,092,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% 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 1970 — 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: 0.93% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.28%
• DSCR: 1.19
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $1,468,612
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 NE 48th St	0.71mi	6/4.0	2,224 (-14%)	6mo	$1,270,000	$571	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.26% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-126,556
• Equity at exit: $178,924

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-46,179
• Equity at exit: $103,754

Cash invested: $336,000 (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 33127

• Home prices YoY: -30.1%
• Rents YoY: 2.3%
• Active inventory: 296
• Price-to-rent: 35.9×

Monthly cashflow live

• Estimated rent: $11,147 medium
• Mortgage (P&I): −$6,293
• Tax from tax record: −$814 /mo · $9,766/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,341
• Net cashflow: $1,199

Break-even live

Break-even rent $9,629

Max offer price $1,200,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,879	-5% $1,539	+0% $1,199	+5% $860	+10% $520
Rent	-10% $319	-5% $759	+0% $1,199	+5% $1,640	+10% $2,080
Rate	-1.0pp $1,804	-0.5pp $1,505	base $1,199	+0.5pp $888	+1.0pp $572

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2.5	$11,148
Total (4 units)			$11,147

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 NE 49th St Unit A Miami, FL	5.0	5.0	3193	$27,500	$8.61	25d	1	0.76mi
4675 NE 2nd Ave Miami, FL	5.0	3.0	2248	$27,500	$12.23	4d	1	0.94mi
4675 NE 2nd Ave Miami, FL	5.0	3.0	2248	$27,500	$12.23	3d	1	0.94mi

Listing history 31 events

1. 2026-06-21
   days on market $1,200,000 Active 111 DOM
2. 2026-06-18
   days on market $1,200,000 Active 108 DOM
3. 2026-06-17
   days on market $1,200,000 Active 107 DOM
4. 2026-06-16
   days on market $1,200,000 Active 106 DOM
5. 2026-06-15
   days on market $1,200,000 Active 105 DOM
6. 2026-06-13
   days on market $1,200,000 Active 103 DOM
7. 2026-06-09
   days on market $1,200,000 Active 99 DOM
8. 2026-06-08
   days on market $1,200,000 Active 98 DOM
9. 2026-06-07
   days on market $1,200,000 Active 97 DOM
10. 2026-06-04
    days on market $1,200,000 Active 94 DOM
11. 2026-06-03
    days on market $1,200,000 Active 93 DOM
12. 2026-06-02
    days on market $1,200,000 Active 92 DOM
13. 2026-06-01
    days on market $1,200,000 Active 91 DOM
14. 2026-05-31
    days on market $1,200,000 Active 90 DOM
15. 2026-03-02
    listed $1,200,000 Active
16. 2026-02-28
    historical
17. 2026-02-13
    status Active
18. 2026-02-12
    historical
19. 2026-01-12
    listed $1,200,000 Active
20. 2025-12-31
    historical
21. 2025-07-15
    listed $1,200,000 Active
22. 2025-07-01
    historical
23. 2024-12-05
    listed $1,200,000 Active
24. 2015-09-25
    soldstatus $242,500
25. 2015-09-24
    soldstatus $242,500
26. 2015-09-24
    listed $250,000
27. 2015-09-23
    historical
28. 2015-08-25
    listed $250,000 Active
29. 2003-04-11
    soldstatus $150,000
30. 1998-10-20
    soldstatus $93,000
31. 1991-07-26
    soldstatus $81,500

ⓘ 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: $9,766 · $814/mo
• Projected year-2 tax: $9,960 · $830/mo
• Expected delta: +$194/yr (+$16/mo · 2.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $133,764
• − Mortgage interest: −$67,219
• − Property taxes: −$9,766
• − Insurance: −$6,000
• − Repairs & maintenance: −$10,701
• − Management: −$10,701
• − Depreciation: −$34,909
• Taxable loss: −$5,532
• Est. tax savings @ 24.0%: +$1,328
• After-tax cash flow: $15,720/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): 26,786
• Household income: $41,230
• Rent vs Own: 73.1% rent · 26.9% own
• Severe rent burden: 2523.0

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: Majority Hispanic (55%)
• Race & ethnicity: Hispanic / Latino 55% Black 39% Two or more races 30% White 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 9% Dominican 5%
• Common ancestry: Hispanic 11%
• Foreign-born: 43% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 53% French/Haitian/Cajun 12%

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: ▼ -293.00%
• Current HPI: 680.1845
• Rent YoY: ▲ 2.26%
• 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

+1372.4% since first listed

17 events — show timeline

• 2026-03-02 Listed $1,200,000 MARMLS
• 2026-02-28 Listing Removed — MARMLS
• 2026-02-13 Relisted — MARMLS
• 2026-02-12 Listing Removed — MARMLS
• 2026-01-12 Listed $1,200,000 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-07-15 Listed $1,200,000 MARMLS
• 2025-07-01 Listing Removed — MARMLS
• 2024-12-05 Listed $1,200,000 MARMLS
• 2015-09-25 Sold (Public Records) $242,500 Public Records
• 2015-09-24 Sold (MLS) $242,500 MARMLS
• 2015-09-24 Listed $250,000 MARMLS
• 2015-09-23 Listing Removed — MARMLS
• 2015-08-25 Listed $250,000 MARMLS
• 2003-04-11 Sold (Public Records) $150,000 Public Records
• 1998-10-20 Sold (Public Records) $93,000 Public Records
• 1991-07-26 Sold (Public Records) $81,500 Public Records

Property tax history

+8.2%/yr

Latest (2025): $9,766 · +0.7% YoY. Source: county tax records.