984 SW 6th St · Miami, FL 33130

$985,000

4 bd · 4.0 ba · 2,012 sqft · MultiFamily public records · 170 Days on market

Built 1947 Est $1366k · 28% 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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• Schools +4.2/10.0
• Appreciation +4.1/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

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

Listing remarks MLS

Opportunity to purchase investment property with great income potential close to Calle Ocho. The first floor unit has been updated and shows very well. The second floor unit needs some kitchen appliances and bathroom updates. Large fenced backyard, genero us parking, convenient location and much more make this duplex a great investment. Easy to show through Listing Agent.

Key facts

• Two-family residence
• Multi-family housing
• 2 parking spots

Tags

• ZONED T4-R MULTIFAMILY
• MULTI-FAMILY HOUSING
• TWO-FAMILY RESIDENCE
• ANCILLARY DWELLING UNITS
• IMMEDIATE RENTAL INCOME

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: Actual rent listed for units at $1,725; Unit rents shown as month-to-month
• HOA & community: No HOA details provided

Exterior

• Parking: Two total parking spaces; Designated parking spaces for units
• Security: No security details provided
• Utilities: Cable available
• Home design: Single-story building; Block construction; Effective year built
• Construction: Block construction
• Exterior features: Less than a quarter acre lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two 1-bedroom efficiency units; One 2-bedroom unit
• Flooring: No flooring details provided
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Wall furnace heating
• Interior features: Month-to-month units available
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $985k.

Deal economics

• At list price, monthly cash flow is $-48 ($-580/yr) — negative. Per door: $-24/mo.
• To cash-flow at today's rent, offer at most $976k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $825k (16.2% below list).
• Recommended offer: $825k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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 (-0.5%/yr); 642 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $8,251/mo this rent would consume 162% of the median local household income ($61k/yr) (locally 5231% 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 (-1.8%/yr); year-one equity from $7k of loan paydown is wiped out by about $18k 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 170 days — a 12% lower offer ($867k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $180k; list at $985k implies a 447% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $825,100 (16.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.84% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $1,366,148
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
444 SW 26th Rd	0.72mi	4/3.0	1,812 (-10%)	11mo	$1,230,000	$679	37

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

Projected returns pro-forma

-1.79% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.51×
• Total profit: $-136,038
• Equity at exit: $200,970

10-year hold

• IRR: -8.7%
• Equity multiple: 0.38×
• Total profit: $-170,112
• Equity at exit: $181,057

Cash invested: $275,800 (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 33130

• Home prices YoY: -0.5%
• Rents YoY: -0.5%
• Active inventory: 642
• Price-to-rent: 19.9×

Monthly cashflow live

• Estimated rent: $8,251 medium
• Mortgage (P&I): −$5,165
• Tax from tax record: −$991 /mo · $11,889/yr
• Insurance: −$410
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,733
• Net cashflow: $-48

Break-even live

Break-even rent $8,312

Max offer price $976,461

Occupancy floor 96%

Sensitivity live

Price	-10% $509	-5% $230	+0% $-48	+5% $-327	+10% $-606
Rent	-10% $-700	-5% $-374	+0% $-48	+5% $278	+10% $603
Rate	-1.0pp $448	-0.5pp $202	base $-48	+0.5pp $-304	+1.0pp $-563

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$8,252
Total (2 units)			$8,251

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: $246,250
• Closing costs: $29,550
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 SW 3rd St #12 Miami, FL	3.0	3.5	2418	$18,000	$7.44	6d	1	1.00mi
1000 Brickell Plz Miami, FL	3.0–6.0	3.5–5.5	3486	$31,333	$8.99	25d	2	1.17mi
1000 Brickell Plz Miami, FL	3.0–6.0	4.5–5.5	3795	$28,667	$7.55	4d	2	1.17mi
1000 Brickell Plz Miami, FL	3.0–6.0	3.5–5.5	3692	$29,867	$8.09	12d	2	1.17mi
200 Biscayne Boulevard Way #5001 Miami, FL	3.0	3.5	2457	$20,000	$8.14	25d	1	1.38mi
175 SE 25th Rd #3403 Miami, FL	3.0	3.5	1946	$21,000	$10.79	16d	1	1.42mi
175 SE 25th Rd Unit 3302 Miami, FL	4.0	4.5	2752	$37,000	$13.44	25d	1	1.43mi
175 SE 25th Rd Unit 3104 Miami, FL	3.0	3.5	1946	$25,000	$12.85	25d	1	1.43mi
175 SE 25th Rd Apt 602 Miami, FL	3.0	3.5	2105	$20,000	$9.50	25d	1	1.43mi
175 SE 25th Rd Unit 1904 Miami, FL	3.0	3.5	1946	$18,900	$9.71	18d	1	1.43mi
175 SE 25th Rd Unit 3104 Miami, FL	3.0	3.5	1946	$25,000	$12.85	9d	1	1.43mi
300 Biscayne Boulevard Way Unit 4502E Miami, FL	3.0	3.5	2220	$25,000	$11.26	22d	1	1.48mi
300 Biscayne Boulevard Way #2306 Miami, FL	3.0	3.0	1600	$19,000	$11.88	13d	1	1.48mi
300 Biscayne Boulevard Way Unit 4007W Miami, FL	3.0	3.0	2126	$19,000	$8.94	25d	1	1.48mi
300 Biscayne Boulevard Way Unit 2802E Miami, FL	3.0	3.5	2220	$21,000	$9.46	25d	1	1.48mi
300 Biscayne Boulevard Way Unit 1902E Miami, FL	3.0	3.5	2220	$18,000	$8.11	4d	1	1.48mi
300 Biscayne Boulevard Way Unit 4007W Miami, FL	3.0	2.5	1957	$21,000	$10.73	0d	1	1.48mi

Listing history 20 events

1. 2026-06-21
   days on market $985,000 Active 170 DOM
2. 2026-06-18
   days on market $985,000 Active 167 DOM
3. 2026-06-17
   days on market $985,000 Active 166 DOM
4. 2026-06-16
   days on market $985,000 Active 165 DOM
5. 2026-06-15
   days on market $985,000 Active 164 DOM
6. 2026-06-13
   days on market $985,000 Active 162 DOM
7. 2026-06-09
   days on market $985,000 Active 158 DOM
8. 2026-06-08
   days on market $985,000 Active 157 DOM
9. 2026-06-07
   days on market $985,000 Active 156 DOM
10. 2026-06-04
    days on market $985,000 Active 153 DOM
11. 2026-06-03
    days on market $985,000 Active 152 DOM
12. 2026-06-02
    days on market $985,000 Active 151 DOM
13. 2026-06-01
    days on market $985,000 Active 150 DOM
14. 2026-05-31
    days on market $985,000 Active 149 DOM
15. 2025-12-25
    listed $985,000 Active
16. 2017-05-18
    historical
17. 2016-02-26
    listed $500,000
18. 2013-01-31
    soldstatus $180,000
19. 2013-01-30
    soldstatus $180,000 374-char remark

    Show marketing remark (374 chars)

    Opportunity to purchase investment property with great income potential close to Calle Ocho. The first floor unit has been updated and shows very well. The second floor unit needs some kitchen appliances and bathroom updates. Large fenced backyard, genero us parking, convenient location and much more make this duplex a great investment. Easy to show through Listing Agent.

20. 1976-11-01
    soldstatus $47,000

ⓘ 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: $11,889 · $991/mo
• Projected year-2 tax: $11,889 · $991/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 31 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: $99,012
• − Mortgage interest: −$55,175
• − Property taxes: −$11,889
• − Insurance: −$4,925
• − Repairs & maintenance: −$7,921
• − Management: −$7,921
• − Depreciation: −$28,655
• Taxable loss: −$17,474
• Est. tax savings @ 24.0%: +$4,194
• After-tax cash flow: $3,614/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): 34,964
• Household income: $61,009
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 5231.0

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 (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 44% White 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 24% Dominican 4%
• Common ancestry: Romanian 2% Estonian 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, Guatemala
• Languages at home: 23% English-only · Spanish 70% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -1.79%
• Current HPI: 344.7752
• Rent YoY: ▼ -0.53%
• 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

+1995.7% since first listed

6 events — show timeline

• 2025-12-25 Listed $985,000 MARMLS
• 2017-05-18 Listing Removed — MARMLS
• 2016-02-26 Listed $500,000 MARMLS
• 2013-01-31 Sold (Public Records) $180,000 Public Records
• 2013-01-30 Sold (MLS) $180,000 MARMLS
• 1976-11-01 Sold (Public Records) $47,000 Public Records

Property tax history

+17.0%/yr

Latest (2025): $11,889 · +10.0% YoY. Source: county tax records.