180 NW 59th St · Miami, FL 33127

$1,300,000

6 bd · 5.0 ba · 2,837 sqft · MultiFamily public records · 286 Days on market

Built 1926

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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 +23.6/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• 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 (5+ Unit). Listing-text estimate: 5 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

Fully occupied Five unit CBS construction building in the heart of Little Haiti with T-5-R zoning, off NW 2nd Ave. Separate electric meters, one water meter. Long term tenants paying below market rents, this is a great value add opportunity. Financial summary attached to the listing.

Key facts

• Spacious front yards
• Zoned t-5-r
• Spacious back yards

Tags

• PERMITTED ELECTRICAL UPGRADES
• PERMITTED PLUMBING UPGRADES
• ZONED T-5-R
• SEPARATE ELECTRIC METERS
• SPACIOUS FRONT YARDS
• SPACIOUS BACK YARDS

Property features AI

Finance

• Other: Zoning: 4600; Lot is less than a quarter acre
• Financial info: Property contains multiple rental units with current rents by unit type: 4 units (1 bed) at $1,200; 3 units (1 bed) at $1,400; 2 units (2 bed) at $1,700; 1 unit (2 bed) at $1,250.; Rent includes water
• HOA & community: No HOA details provided

Exterior

• Parking: On-street parking
• Security: No security details provided
• Utilities: Public water; Public sewer; Cable available
• Home design: One-story building; Flat tar-and-gravel roof; Block and stucco construction; Effective year built
• Construction: Block construction; Stucco exterior; Flat tar/gravel roof
• Exterior features: Fenced yard; Outdoor lighting; Open patio; Porch

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Multiple 1-bedroom and 2-bedroom units (see unit breakdown)
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: All units have full bathrooms
• Heating & cooling: Electric heating; Wall furnace; Ceiling fans; Electric cooling; Wall/window air conditioning units
• Interior features: Metal single-hung windows
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/2.0-bath units multifamily listed at $1.30M.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $491/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.30M).
• Recommended offer: $1.14M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 rising (+2.3%/yr); 295 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $13,769/mo this rent would consume 401% 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 $9k of loan paydown is wiped out by about $39k 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 286 days — a 12% lower offer ($1.14M) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 8y 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 $805k; list at $1.30M implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,144,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 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 1926 — 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: 1.06% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.10%
• DSCR: 1.36
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-64,554
• Equity at exit: $193,834

10-year hold

• IRR: 4.0%
• Equity multiple: 1.28×
• Total profit: $103,496
• Equity at exit: $112,400

Cash invested: $364,000 (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: 295
• Price-to-rent: 39.3×

Monthly cashflow live

• Estimated rent: $13,769 medium
• Mortgage (P&I): −$6,817
• Tax from tax record: −$1,063 /mo · $12,751/yr
• Insurance: −$542
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,891
• Net cashflow: $2,456

Break-even live

Break-even rent $10,660

Max offer price $1,300,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 5× units	3	2	$13,770
Total (5 units)			$13,769

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: $325,000
• Closing costs: $39,000
• 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	24d	1	0.69mi
4675 NE 2nd Ave Miami, FL	5.0	3.0	2248	$27,500	$12.23	3d	1	0.87mi
4675 NE 2nd Ave Miami, FL	5.0	3.0	2248	$27,500	$12.23	3d	1	0.87mi

Listing history 49 events

1. 2026-06-18
   days on market $1,300,000 Active 286 DOM
2. 2026-06-17
   days on market $1,300,000 Active 285 DOM
3. 2026-06-16
   days on market $1,300,000 Active 284 DOM
4. 2026-06-15
   days on market $1,300,000 Active 283 DOM
5. 2026-06-13
   days on market $1,300,000 Active 281 DOM
6. 2026-06-09
   days on market $1,300,000 Active 277 DOM
7. 2026-06-08
   days on market $1,300,000 Active 276 DOM
8. 2026-06-08
   days on market $1,300,000 Active 275 DOM
9. 2026-06-04
   days on market $1,300,000 Active 272 DOM
10. 2026-06-03
    days on market $1,300,000 Active 271 DOM
11. 2026-06-02
    days on market $1,300,000 Active 270 DOM
12. 2026-06-01
    days on market $1,300,000 Active 269 DOM
13. 2026-05-31
    days on market $1,300,000 Active 268 DOM
14. 2025-09-05
    listed $1,300,000 Active
15. 2022-11-02
    soldstatus $805,000
16. 2022-10-28
    soldstatus $805,000 Closed 284-char remark

    Show marketing remark (284 chars)

    Fully occupied Five unit CBS construction building in the heart of Little Haiti with T-5-R zoning, off NW 2nd Ave. Separate electric meters, one water meter. Long term tenants paying below market rents, this is a great value add opportunity. Financial summary attached to the listing.

17. 2022-10-28
    soldstatus $805,000 Closed 284-char remark

    Show marketing remark (284 chars)

    Fully occupied Five unit CBS construction building in the heart of Little Haiti with T-5-R zoning, off NW 2nd Ave. Separate electric meters, one water meter. Long term tenants paying below market rents, this is a great value add opportunity. Financial summary attached to the listing.

18. 2022-09-19
    historical Active Under Contract 284-char remark

    Show marketing remark (284 chars)

    Fully occupied Five unit CBS construction building in the heart of Little Haiti with T-5-R zoning, off NW 2nd Ave. Separate electric meters, one water meter. Long term tenants paying below market rents, this is a great value add opportunity. Financial summary attached to the listing.

19. 2022-09-19
    historical Active Under Contract 284-char remark

    Show marketing remark (284 chars)

    Fully occupied Five unit CBS construction building in the heart of Little Haiti with T-5-R zoning, off NW 2nd Ave. Separate electric meters, one water meter. Long term tenants paying below market rents, this is a great value add opportunity. Financial summary attached to the listing.

20. 2022-08-12
    listed $855,000 Active 284-char remark

    Show marketing remark (284 chars)

    Fully occupied Five unit CBS construction building in the heart of Little Haiti with T-5-R zoning, off NW 2nd Ave. Separate electric meters, one water meter. Long term tenants paying below market rents, this is a great value add opportunity. Financial summary attached to the listing.

21. 2022-08-12
    listed $855,000 Active 284-char remark

    Show marketing remark (284 chars)

    Fully occupied Five unit CBS construction building in the heart of Little Haiti with T-5-R zoning, off NW 2nd Ave. Separate electric meters, one water meter. Long term tenants paying below market rents, this is a great value add opportunity. Financial summary attached to the listing.

22. 2022-05-27
    historical
23. 2022-05-10
    listed $950,000 Active
24. 2021-02-11
    status Pending
25. 2021-02-11
    historical
26. 2021-01-29
    status Active
27. 2021-01-14
    historical Active Under Contract
28. 2020-08-31
    listed $600,000 Active
29. 2020-02-22
    historical
30. 2020-02-22
    historical
31. 2019-09-03
    listed $650,000 Active
32. 2019-09-03
    listed $650,000 Active
33. 2019-08-26
    historical
34. 2019-02-14
    historical
35. 2019-01-08
    listed $700,000 Active
36. 2019-01-08
    listed $700,000
37. 2018-10-02
    historical
38. 2018-08-07
    listed $555,000 Active
39. 2016-12-28
    soldstatus $362,000
40. 2013-08-12
    soldstatus $149,000 Sold
41. 2013-07-25
    soldstatus $116,000
42. 2011-09-13
    soldstatus $100,000
43. 2011-09-12
    soldstatus $50,000
44. 2006-04-01
    soldstatus $290,000
45. 2004-07-20
    soldstatus $164,000
46. 2002-09-10
    soldstatus $119,000
47. 2002-06-21
    soldstatus $90,000
48. 2002-06-06
    soldstatus $45,000
49. 1986-09-01
    soldstatus $32,300

ⓘ 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: $12,751 · $1,063/mo
• Projected year-2 tax: $12,751 · $1,063/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 · 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: $165,228
• − Mortgage interest: −$72,820
• − Property taxes: −$12,751
• − Insurance: −$6,500
• − Repairs & maintenance: −$13,218
• − Management: −$13,218
• − Depreciation: −$37,818
• Taxable income: $8,902
• Est. tax owed @ 24.0%: −$2,136
• After-tax cash flow: $27,334/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

+3924.8% since first listed

36 events — show timeline

• 2025-09-05 Listed $1,300,000 MARMLS
• 2022-11-02 Sold (Public Records) $805,000 Public Records
• 2022-10-28 Sold (MLS) $805,000 MARMLS
• 2022-10-28 Sold (MLS) $805,000 MARMLS
• 2022-09-19 Contingent — MARMLS
• 2022-09-19 Contingent — MARMLS
• 2022-08-12 Listed $855,000 MARMLS
• 2022-08-12 Listed $855,000 MARMLS
• 2022-05-27 Listing Removed — MARMLS
• 2022-05-10 Listed $950,000 MARMLS
• 2021-02-11 Pending — MARMLS
• 2021-02-11 Listing Removed — MARMLS
• 2021-01-29 Relisted — MARMLS
• 2021-01-14 Contingent — MARMLS
• 2020-08-31 Listed $600,000 MARMLS
• 2020-02-22 Listing Removed — MARMLS
• 2020-02-22 Listing Removed — MARMLS
• 2019-09-03 Listed $650,000 MARMLS
• 2019-09-03 Listed $650,000 MARMLS
• 2019-08-26 Listing Removed — MARMLS
• 2019-02-14 Listing Removed — MARMLS
• 2019-01-08 Listed $700,000 MARMLS
• 2019-01-08 Listed $700,000 MARMLS
• 2018-10-02 Listing Removed — MARMLS
• 2018-08-07 Listed $555,000 MARMLS
• 2016-12-28 Sold (Public Records) $362,000 Public Records
• 2013-08-12 Sold (MLS) $149,000 MARMLS
• 2013-07-25 Sold (Public Records) $116,000 Public Records
• 2011-09-13 Sold (Public Records) $100,000 Public Records
• 2011-09-12 Sold (Public Records) $50,000 Public Records
• 2006-04-01 Sold (Public Records) $290,000 Public Records
• 2004-07-20 Sold (Public Records) $164,000 Public Records
• 2002-09-10 Sold (Public Records) $119,000 Public Records
• 2002-06-21 Sold (Public Records) $90,000 Public Records
• 2002-06-06 Sold (Public Records) $45,000 Public Records
• 1986-09-01 Sold (Public Records) $32,300 Public Records

Property tax history

+12.8%/yr

Latest (2025): $12,751 · +0.2% YoY. Source: county tax records.