7 NE 50th St

Miami, FL 33137

$975,000D-

4 bd · 2.0 ba · 1,300 sqft · Built 1951 · MultiFamily · Pending · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,477/mo
• Mortgage (P&I): −$5,113
• Tax + insurance: −$1,175
• HOA: −$0
• Vac / Maint / Mgmt: −$1,360
• Net cashflow: $-1,171/mo
• Annual: $-14,052/yr
• Cap rate: 4.85%
• Cash-on-cash: -5.15%
• DSCR: 0.77
• 1% rule: 0.66%
• Cash to close: $273,000

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $975k.
• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $768k (21.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $648k (33.6% below list).
• It's been on market 53 days — a 3% lower offer ($946k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $648k (33.6% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($7k loan paydown + $3k appreciation (0.3% local appreciation)).
• 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: Toussaint L'Ouverture Elementary (math 27% / reading 37%, grade F, #1,797 of 2,144 statewide, top 86%, 337 students, 75% 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 68% FRL track the district average.
• Zoned-school proficiency averages 23% at this address vs 50% district-wide (-26 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.7%/yr); 758 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 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 $622k; list at $975k implies a 57% gain — meaningful room to come down on a strong offer.
• By year 6, paydown + projected appreciation supports a ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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.

Questions for listing agent

• 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?
• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.