5520 NE 1st Ct · Miami, FL 33137

$1,100,000

4 bd · 4.0 ba · 2,180 sqft · MultiFamily public records · 547 Days on market

Built 1955

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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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

FOR SALE: Excellent Fourplex Investment Opportunity. Each unit features updated 1 bedroom and 1 bathroom. Hurricane impact glass windows throughout. Individual electrical meters can be found in the dedicated meter room. Month-To-Month Tenants. Recently passed re-certification. Opportunity zoned.

Key facts

• 100% occupancy
• Dedicated meter room
• 4 parking spots

Tags

• HURRICANE IMPACT GLASS WINDOW
• INDIVIDUAL ELECTRICAL METERS
• DEDICATED METER ROOM
• 100% OCCUPANCY

Property features AI

Finance

• Financial info: Units currently rented month-to-month; Typical actual rent reported: $1,400 per unit; Rent includes sewer, trash collection and water

Exterior

• Parking: Total of 4 parking spaces
• Utilities: Public sewer; Water and trash collection included with rent; Cable not available
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Effective year built
• Exterior features: Less than quarter-acre lot

Interior

• Kitchen: Refrigerator included in units
• Bedrooms: One-bedroom units (each unit)
• Flooring: Tile
• Bathrooms: One full bathroom per unit
• Heating & cooling: Wall/window air conditioning units
• Interior features: Impact glass windows; Tile flooring
• Laundry & utility: Circuit breaker electrical panel

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $5k ($61k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.10M).
• Recommended offer: $968k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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 rising (+2.7%/yr); 757 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($8k loan paydown + $3k appreciation (0.3% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.3% appreciation + 2.7% rent growth), your $308k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 547 days — a 12% lower offer ($968k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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 $76k; list at $1.10M implies a 1347% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $968,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 547 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.37% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.88%
• DSCR: 1.88
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 1.98×
• Total profit: $302,546
• Equity at exit: $334,442

10-year hold

• IRR: 23.8%
• Equity multiple: 3.68×
• Total profit: $824,602
• Equity at exit: $414,219

Cash invested: $308,000 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 757
• Price-to-rent: 24.3×

Monthly cashflow live

• Estimated rent: $15,090 medium
• Mortgage (P&I): −$5,769
• Tax from tax record: −$593 /mo · $7,110/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,169
• Net cashflow: $5,102

Break-even live

Break-even rent $8,632

Max offer price $1,100,000

Occupancy floor 61%

Sensitivity live

Price	-10% $5,724	-5% $5,413	+0% $5,102	+5% $4,790	+10% $4,479
Rent	-10% $3,910	-5% $4,506	+0% $5,102	+5% $5,698	+10% $6,294
Rate	-1.0pp $5,656	-0.5pp $5,382	base $5,102	+0.5pp $4,817	+1.0pp $4,527

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$15,088
Total (4 units)			$15,090

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4675 NE 2nd Ave Miami, FL	5.0	3.0	2248	$27,500	$12.23	3d	1	0.60mi
4675 NE 2nd Ave Miami, FL	5.0	3.0	2248	$27,500	$12.23	3d	1	0.60mi
121 NE 34th St Miami, FL	4.0	5.0	2648	$25,000	$9.44	25d	1	1.27mi
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$18,877	$7.12	2d	19	1.29mi
480 NE 31st St Miami, FL	4.0	4.5	2379	$19,000	$7.99	25d	1	1.47mi

Listing history 38 events

1. 2026-06-18
   days on market $1,100,000 Active 547 DOM
2. 2026-06-17
   days on market $1,100,000 Active 546 DOM
3. 2026-06-16
   days on market $1,100,000 Active 545 DOM
4. 2026-06-15
   days on market $1,100,000 Active 544 DOM
5. 2026-06-13
   days on market $1,100,000 Active 542 DOM
6. 2026-06-09
   days on market $1,100,000 Active 538 DOM
7. 2026-06-08
   days on market $1,100,000 Active 537 DOM
8. 2026-06-08
   days on market $1,100,000 Active 536 DOM
9. 2026-06-04
   days on market $1,100,000 Active 533 DOM
10. 2026-06-03
    days on market $1,100,000 Active 532 DOM
11. 2026-06-02
    days on market $1,100,000 Active 531 DOM
12. 2026-06-01
    days on market $1,100,000 Active 530 DOM
13. 2026-05-31
    days on market $1,100,000 Active 529 DOM
14. 2024-12-18
    listed $1,100,000 Active
15. 2024-12-18
    historical
16. 2024-07-05
    listed $1,100,000 Active
17. 2024-07-04
    historical
18. 2023-07-05
    listed $1,100,000 Active
19. 2022-04-22
    historical
20. 2022-03-23
    price $850,000
21. 2022-03-22
    listed $850 Active
22. 2021-11-30
    historical
23. 2021-06-01
    status Active
24. 2021-05-31
    historical
25. 2021-02-11
    listed $850,000 Active
26. 2013-11-01
    historical
27. 2013-08-30
    price $225,000
28. 2013-06-19
    price $220,000
29. 2012-06-05
    soldstatus $76,000
30. 2010-02-06
    soldstatus $66,000
31. 2006-09-15
    soldstatus $325,000
32. 2005-03-03
    soldstatus $208,000
33. 2000-09-14
    soldstatus $115,000
34. 2000-08-17
    soldstatus $55,000
35. 1998-03-06
    soldstatus $85,000
36. 1998-03-06
    soldstatus $85,000
37. 1993-10-04
    soldstatus $45,000
38. 1977-07-01
    soldstatus $52,000

ⓘ 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: $7,110 · $593/mo
• Projected year-2 tax: $9,130 · $761/mo
• Expected delta: +$2,020/yr (+$168/mo · 28.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 29 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: $181,080
• − Mortgage interest: −$61,617
• − Property taxes: −$7,110
• − Insurance: −$5,500
• − Repairs & maintenance: −$14,486
• − Management: −$14,486
• − Depreciation: −$32,000
• Taxable income: $45,880
• Est. tax owed @ 24.0%: −$11,011
• After-tax cash flow: $50,210/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): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 3106.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% Other Indo-European 5%

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: ▲ 0.27%
• Current HPI: 385.1514
• Rent YoY: ▲ 2.73%
• 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

+2015.4% since first listed

25 events — show timeline

• 2024-12-18 Listing Removed — MARMLS
• 2024-12-18 Listed $1,100,000 MARMLS
• 2024-07-05 Listed $1,100,000 MARMLS
• 2024-07-04 Listing Removed — MARMLS
• 2023-07-05 Listed $1,100,000 MARMLS
• 2022-04-22 Listing Removed — MARMLS
• 2022-03-23 Price Changed $850,000 MARMLS
• 2022-03-22 Listed $850 MARMLS
• 2021-11-30 Listing Removed — MARMLS
• 2021-06-01 Relisted — MARMLS
• 2021-05-31 Listing Removed — MARMLS
• 2021-02-11 Listed $850,000 MARMLS
• 2013-11-01 Listing Removed — MARMLS
• 2013-08-30 Price Changed $225,000 MARMLS
• 2013-06-19 Price Changed $220,000 MARMLS
• 2012-06-05 Sold (Public Records) $76,000 Public Records
• 2010-02-06 Sold (MLS) $66,000 MARMLS
• 2006-09-15 Sold (Public Records) $325,000 Public Records
• 2005-03-03 Sold (Public Records) $208,000 Public Records
• 2000-09-14 Sold (Public Records) $115,000 Public Records
• 2000-08-17 Sold (Public Records) $55,000 Public Records
• 1998-03-06 Sold (Public Records) $85,000 Public Records
• 1998-03-06 Sold (Public Records) $85,000 Public Records
• 1993-10-04 Sold (Public Records) $45,000 Public Records
• 1977-07-01 Sold (Public Records) $52,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $7,110 · +5.1% YoY. Source: county tax records.