560 NE 63rd St · Miami, FL 33138

$1,650,000

8 bd · 8.0 ba · 2,803 sqft · MultiFamily public records · 25 Days on market

Built 1969

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Why this score? — see what drove the D 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 +14.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• 1% rule +3.2/10.0
• Rent growth +2.6/5.0
• 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

Fully renovated 4-unit multifamily in the highly desirable MiMo District / Upper East Side, delivering an attractive ~5.9% cap rate in one of Miami’s most rapidly appreciating submarkets. This turnkey asset features four spacious 2BR/2BA units (~700 SF each), all upgraded with modern kitchens, updated bathrooms, new flooring, and central A/C. Brand-new roof (2026) significantly reduces future capital expenditures, enhancing long-term returns and investor confidence. The property also includes on-site laundry, assigned parking, and efficient layouts with strong tenant appeal. Individually metered water (submeters for each unit) allows utility costs to be passed through to tenants, redu

Key facts

• Fully renovated
• Modern kitchens
• New flooring

Tags

• FULLY RENOVATED
• MODERN KITCHENS
• UPDATED BATHROOMS
• NEW FLOORING
• CENTRAL A/C
• BRAND-NEW ROOF

Property features AI

Finance

• Other: Zoning designation: 3900
• Financial info: Some units currently leased; Reported actual rents by unit type: $2,350; $2,500; Rent includes gardener, sewer, and trash collection

Exterior

• Parking: Total of 4 parking spaces; Open parking for units
• Utilities: Public sewer; Cable not available
• Home design: 2-story building; Effective year built
• Construction: Block construction; Shingle roof
• Exterior features: Less than quarter acre lot; Open parking

Interior

• Kitchen: Kitchens included in units
• Bedrooms: Multiple 2-bedroom units (see unit breakdown)
• Flooring: Hardwood; Wood
• Bathrooms: Multiple units with 2 full bathrooms each
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Hardwood and wood flooring
• Laundry & utility: Washer/Dryer not specified

What this means for you Summary

Snapshot

• This is a 4 × 2.0-bed/2.0-bath units multifamily listed at $1.65M.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive. Per door: $85/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 $1.36M (17.7% below list).
• Recommended offer: $1.36M (17.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Morningside K-8 Academy (math 38% / reading 52%, grade D-, #1,271 of 2,144 statewide, top 60%, 415 students, 69% FRL); Horace Mann Middle School (math 23% / reading 31%, grade F, #497 of 571 statewide, top 88%, 528 students, 76% FRL); Miami Edison Senior High School (math 19% / reading 15%, grade F, #597 of 667 statewide, top 90%, 623 students, 72% FRL).
• Zoned-school proficiency averages 30% at this address vs 50% district-wide (-20 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 369 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $13,584/mo this rent would consume 217% of the median local household income ($75k/yr) (locally 2049% 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 $11k of loan paydown is wiped out by about $50k 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 25 days — a 2% lower offer ($1.63M) is reasonable based on typical stale-listing flexibility.
• 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 $1.16M; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $1,358,400 (17.7% below list)

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 1969 — 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. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.88%
• DSCR: 1.04
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.39×
• Total profit: $-281,672
• Equity at exit: $246,020

10-year hold

• IRR: -15.4%
• Equity multiple: 0.23×
• Total profit: $-357,344
• Equity at exit: $142,662

Cash invested: $462,000 (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 33138

• Rents YoY: 0.3%
• Active inventory: 369
• Price-to-rent: 40.5×

Monthly cashflow live

• Estimated rent: $13,584 medium
• Mortgage (P&I): −$8,653
• Tax from tax record: −$1,051 /mo · $12,612/yr
• Insurance: −$688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,853
• Net cashflow: $340

Break-even live

Break-even rent $13,153

Max offer price $1,650,000

Occupancy floor 92%

Sensitivity live

Price	-10% $1,274	-5% $807	+0% $340	+5% $-127	+10% $-594
Rent	-10% $-733	-5% $-196	+0% $340	+5% $877	+10% $1,413
Rate	-1.0pp $1,171	-0.5pp $760	base $340	+0.5pp $-87	+1.0pp $-522

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

Units	Beds	Baths	Est. rent
▸ 4× units	2.0	2	$13,584
Total (4 units)			$13,584

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: $412,500
• Closing costs: $49,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-24
   historical
2. 2026-04-29
   listed $1,650,000 Active
3. 2026-02-28
   historical
4. 2026-01-26
   listed $1,650,000 Active
5. 2026-01-23
   historical
6. 2025-12-23
   price $1,625,000
7. 2025-12-11
   listed $16,250,000 Active
8. 2025-03-13
   soldstatus $1,163,200
9. 2018-02-06
   soldstatus $582,000
10. 2004-11-22
    soldstatus $450,000
11. 2003-08-07
    soldstatus $260,000
12. 1996-11-04
    soldstatus $67,500
13. 1992-08-18
    soldstatus $97,000
14. 1984-09-01
    soldstatus $175,000
15. 1978-07-01
    soldstatus $65,333

ⓘ 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: $12,612 · $1,051/mo
• Projected year-2 tax: $13,695 · $1,141/mo
• Expected delta: +$1,083/yr (+$90/mo · 8.6%)

ⓘ 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) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 30 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: $163,008
• − Mortgage interest: −$92,426
• − Property taxes: −$12,612
• − Insurance: −$8,250
• − Repairs & maintenance: −$13,041
• − Management: −$13,041
• − Depreciation: −$48,000
• Taxable loss: −$24,361
• Est. tax savings @ 24.0%: +$5,847
• After-tax cash flow: $9,928/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): 28,980
• Household income: $75,051
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 2049.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% White 29% Black 29% Two or more races 21% Asian 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 11% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 16% Estonian 2% Lithuanian 2%
• Foreign-born: 41% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 39% French/Haitian/Cajun 19% Other Indo-European 4%

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: ▼ -890.01%
• Current HPI: 551.4791
• Rent YoY: ▲ 0.33%
• 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

+2425.5% since first listed

15 events — show timeline

• 2026-05-24 Listing Removed — MARMLS
• 2026-04-29 Listed $1,650,000 MARMLS
• 2026-02-28 Listing Removed — MARMLS
• 2026-01-26 Listed $1,650,000 MARMLS
• 2026-01-23 Listing Removed — MARMLS
• 2025-12-23 Price Changed $1,625,000 MARMLS
• 2025-12-11 Listed $16,250,000 MARMLS
• 2025-03-13 Sold (Public Records) $1,163,200 Public Records
• 2018-02-06 Sold (Public Records) $582,000 Public Records
• 2004-11-22 Sold (Public Records) $450,000 Public Records
• 2003-08-07 Sold (Public Records) $260,000 Public Records
• 1996-11-04 Sold (Public Records) $67,500 Public Records
• 1992-08-18 Sold (Public Records) $97,000 Public Records
• 1984-09-01 Sold (Public Records) $175,000 Public Records
• 1978-07-01 Sold (Public Records) $65,333 Public Records

Property tax history

+6.8%/yr

Latest (2025): $12,612 · +0.1% YoY. Source: county tax records.