None · North Miami Beach, FL 33162

$678,000

3 bd · 3.0 ba · 1,848 sqft · MultiFamily public records · 9 Days on market

Built 1954

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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 +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

LOCKBOX, CORPORATE OWNED, PRICED TO SELL VERY FAST, >CALL TOLL FREE # FOR SHOWING INSTRUCTIONS> SUBMIT ATTACHED FAR/BAR AS-IS CONTRACT AND SPECIAL ADDENDUMS WILL BE SENT IF OFFER IS APPROVED, SOLD AS IS WHERE IS WITH ALL FAULTS, NO WARRANTIES EXPRESSED OR IMPLIED, SELLERS CHOICE OF ESCROW AGENT-CERTIFIED FUNDS, * * ENTER OFFERS ON OUR WEBSITE * * SUBMIT ATTACHMENTS FOR DISCLOSURES & FURTHER MLS TERMS. EMAIL US * ONLY * IF YOU HAVE​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ QUESTIONS.

Key facts

• Built 1954
• Listed 8 days

Tags

• INCOME PRODUCING TRIPLEX
• SEPARATE ELECTRIC METERS
• MULTIFAMILY ZONING DISTRICT
• STRONG CURRENT INCOME
• FUTURE REDEVELOPMENT POTENTIAL
• INCREASED DENSITY POTENTIAL

Property features AI

Finance

• Financial info: Actual rents reported: $1,490; $1,400; $1,980 (by unit type); Some units are leased

Exterior

• Parking: On-street parking for units
• Utilities: Public sewer; Cable available; Water included with some rents; Trash collection included with some rents
• Home design: Single-story building
• Construction: Block construction; Concrete roof
• Exterior features: Less than quarter-acre lot; On-street parking

Interior

• Kitchen: Range; Refrigerator; Microwave; Other appliances/equipment
• Bedrooms: Three 1-bedroom units (on-street parking); One 2-bedroom unit (on-street parking)
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Wall furnace heating; Wall/window air conditioning units
• Interior features: Smoke detector(s)
• Laundry & utility: Electric meter

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $678k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $678k).
• Cap rate 12.2% vs local median 5.2% in North Miami Beach — 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 82/100 on livability (#71 in FL, #1,177 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D+, crime 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 (-1.6%/yr); 284 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $10,147/mo this rent would consume 201% of the median local household income ($61k/yr) (locally 2509% 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 $5k of loan paydown is wiped out by about $20k 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 $190k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $100k; list at $678k implies a 578% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $678,000

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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.50% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.27%
• DSCR: 1.95
• GRM: 5.6

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: 10.3%
• Equity multiple: 1.39×
• Total profit: $74,807
• Equity at exit: $101,092

10-year hold

• IRR: 16.8%
• Equity multiple: 2.19×
• Total profit: $226,673
• Equity at exit: $58,621

Cash invested: $189,840 (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 33162

• Rents YoY: -1.6%
• Active inventory: 284
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $10,147 medium
• Mortgage (P&I): −$3,556
• Tax from tax record: −$814 /mo · $9,765/yr
• Insurance: −$282
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,131
• Net cashflow: $3,364

Break-even live

Break-even rent $5,888

Max offer price $678,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$3,633
▸ 2× units	1	1	$6,514
Total (3 units)			$10,147

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: $169,500
• Closing costs: $20,340
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $678,000 Active 9 DOM
2. 2026-06-17
   price $678,000 Active 8 DOM
3. 2026-06-17
   days on market $679,000 Active 8 DOM
4. 2026-06-16
   days on market $679,000 Active 7 DOM
5. 2026-06-15
   days on market $679,000 Active 6 DOM
6. 2026-06-13
   days on market $679,000 Active 4 DOM
7. 2026-06-04
   remarks 699-char remark
8. 2026-06-04
   listed $679,000 Active 1 DOM

ⓘ 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: $9,765 · $814/mo
• Projected year-2 tax: $9,765 · $814/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 5/10 Major FEMA zone X (unshaded) · 24% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $121,764
• − Mortgage interest: −$37,979
• − Property taxes: −$9,765
• − Insurance: −$3,390
• − Repairs & maintenance: −$9,741
• − Management: −$9,741
• − Depreciation: −$19,724
• Taxable income: $31,424
• Est. tax owed @ 24.0%: −$7,542
• After-tax cash flow: $32,830/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 — North Miami Beach

• Score: 82/100
• State rank: #71
• US rank: #1177

Category grades

Amenities B Commute A+ Cost of living A Crime F Employment D+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami Beach, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 90,324
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 46,606
• Household income: $60,692
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 2509.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 53% Hispanic / Latino 30% Two or more races 15% White 12% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 3%
• Common ancestry: Hispanic 31% Romanian 1% Scotch-Irish 1%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · French/Haitian/Cajun 35% Spanish 30% Other Indo-European 2%

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: ▼ -445.57%
• Current HPI: 596.6178
• Rent YoY: ▼ -1.59%
• 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

+309.0% since first listed

12 events — show timeline

• 2026-06-03 Listed $679,000 MARMLS
• 2025-07-21 Relisted — MARMLS
• 2025-04-15 Price Changed $649,000 MARMLS
• 2025-03-13 Listed $650,000 MARMLS
• 2011-05-26 Sold (MLS) $100,000 MARMLS
• 2007-09-11 Sold (MLS) $320,000 MARMLS
• 2007-08-17 Sold (Public Records) $320,000 Public Records
• 2006-06-14 Sold (Public Records) $288,000 Public Records
• 2005-05-16 Sold (Public Records) $210,000 Public Records
• 2000-04-12 Sold (Public Records) $111,000 Public Records
• 1994-07-26 Sold (Public Records) $67,500 Public Records
• 1981-09-01 Sold (Public Records) $166,000 Public Records

Property tax history

+10.1%/yr

Latest (2025): $9,765 · +48.5% YoY. Source: county tax records.