243 SW 10th Ave · Miami, FL 33130

$1,149,000

2 bd · 2.0 ba · 1,140 sqft · MultiFamily public records · 194 Days on market

Built 1936

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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 +13.2/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Appreciation +4.1/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• 1% rule +3.0/10.0
• 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

Duplex in Little Havana with income potential and parking.

Key facts

• Income potential
• Parking
• Duplex

Tags

• DUPLEX
• INCOME POTENTIAL
• PARKING

Property features AI

Exterior

• Parking: Open parking with a total of 2 parking spaces
• Utilities: Public water; Public sewer; Cable not available
• Home design: 2-story building; Resale property; Roof over
• Construction: Block construction
• Exterior features: Fenced yard; Exterior lighting

Interior

• Kitchen: Each unit includes a kitchen with range and refrigerator; Smoke detector in units
• Bedrooms: Three 2-bedroom units (two units of one type, one unit of another) — all units unfurnished
• Flooring: Hardwood, laminate, and wood flooring
• Bathrooms: Four full bathrooms across the units (each unit includes 2 full bathrooms)
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Impact glass windows
• Laundry & utility: Air conditioning units in each unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $-444 ($-5k/yr) — negative. Per door: $-222/mo.
• To cash-flow at today's rent, offer at most $1.07M (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $914k (20.4% below list).
• Recommended offer: $914k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Riverside Elementary School (math 23% / reading 23%, grade F, #2,070 of 2,144 statewide, top 97%, 993 students, 56% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 61% FRL track the district average.
• Zoned-school proficiency averages 20% at this address vs 50% district-wide (-29 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 soft (-0.5%/yr); 642 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $8k of loan paydown is wiped out by about $21k 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 194 days — a 12% lower offer ($1.01M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y 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 $275k; list at $1.15M implies a 318% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $914,200 (20.4% 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 194 days. Have you received any prior offers? Is the seller open to a 20% 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 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 0.80% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.5%
• Equity multiple: 0.43×
• Total profit: $-181,951
• Equity at exit: $234,431

10-year hold

• IRR: -10.8%
• Equity multiple: 0.24×
• Total profit: $-245,012
• Equity at exit: $211,203

Cash invested: $321,720 (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: 20.9×

Monthly cashflow live

• Estimated rent: $9,142 medium
• Mortgage (P&I): −$6,025
• Tax from tax record: −$735 /mo · $8,822/yr
• Insurance: −$479
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,920
• Net cashflow: $-444

Break-even live

Break-even rent $9,704

Max offer price $1,070,601

Occupancy floor 100%

Sensitivity live

Price	-10% $207	-5% $-119	+0% $-444	+5% $-769	+10% $-1,094
Rent	-10% $-1,166	-5% $-805	+0% $-444	+5% $-83	+10% $278
Rate	-1.0pp $135	-0.5pp $-152	base $-444	+0.5pp $-742	+1.0pp $-1,044

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$9,142
Total (2 units)			$9,142

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: $287,250
• Closing costs: $34,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 NE 1st Ave Unit 1227496P Miami, FL	3.0	1.0–3.0	904	$13,744	$15.20	0d	4	1.38mi

Listing history 7 events

1. 2026-06-21
   days on market $1,149,000 Active 194 DOM
2. 2026-06-18
   days on market $1,149,000 Active 191 DOM
3. 2026-06-17
   days on market $1,149,000 Active 190 DOM
4. 2026-06-16
   days on market $1,149,000 Active 189 DOM
5. 2026-06-15
   days on market $1,149,000 Active 188 DOM
6. 2026-06-13
   remarks 58-char remark
7. 2026-06-13
   listed $1,149,000 Active 186 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: $8,822 · $735/mo
• Projected year-2 tax: $9,537 · $795/mo
• Expected delta: +$714/yr (+$60/mo · 8.1%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 85% 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: $109,704
• − Mortgage interest: −$64,362
• − Property taxes: −$8,822
• − Insurance: −$10,864
• − Repairs & maintenance: −$8,776
• − Management: −$8,776
• − Depreciation: −$33,425
• Taxable loss: −$25,322
• Est. tax savings @ 24.0%: +$6,077
• After-tax cash flow: $752/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

+2131.1% since first listed

25 events — show timeline

• 2026-06-12 Relisted — MARMLS
• 2026-03-02 Price Changed $1,149,000 MARMLS
• 2025-11-10 Listed $1,179,000 MARMLS
• 2025-06-25 Listing Removed — MARMLS
• 2025-03-27 Listed $1,295,000 MARMLS
• 2025-03-25 Listing Removed — MARMLS
• 2024-09-27 Listed $1,295,000 MARMLS
• 2023-10-27 Listing Removed — MARMLS
• 2023-04-29 Price Changed $1,299,000 MARMLS
• 2023-04-28 Listed $1,249,000 MARMLS
• 2022-12-21 Listing Removed — MARMLS
• 2022-08-23 Listed $1,249,000 MARMLS
• 2019-03-01 Listing Removed — MARMLS
• 2019-01-09 Sold (Public Records) $275,000 Public Records
• 2018-10-29 Price Changed $310,000 MARMLS
• 2018-10-03 Price Changed $329,000 MARMLS
• 2018-10-01 Listed $365,000 MARMLS
• 2018-08-09 Sold (Public Records) $217,000 Public Records
• 2015-02-06 Listing Removed — MARMLS
• 2015-01-06 Price Changed $249,000 MARMLS
• 2014-12-04 Price Changed $270,000 MARMLS
• 2014-10-21 Price Changed $285,000 MARMLS
• 2014-09-10 Listed $330,000 MARMLS
• 1986-07-01 Sold (Public Records) $65,000 Public Records
• 1983-05-01 Sold (Public Records) $51,500 Public Records

Property tax history

+7.5%/yr

Latest (2025): $8,822 · +9.3% YoY. Source: county tax records.