1260 SW 10th St · Miami, FL 33135

$480,000

3 bd · 2.0 ba · 2,262 sqft · MultiFamily public records · 8 Days on market

Built 1924

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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 +9.8/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Ideal for developers or investors wanting to turn this into income producing or an everlasting home sitting on the Historic Calle Ocho and just a few blocks away from Domino Park in Little Havana. Property Features 2 units compose of 2 beds/ 1 bath each which can easily be rented or converted to a 4 bedroom single family home or could be developed into a new townhouse. This is a chance to put your print on a blank canvas. Property is been sold AS-IS. May have code violations. Located close TO 1-95, airports, the beach, night life, restaurants, shopping center and so much more.

Key facts

• Built 1924
• Listed 7 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Cable not available
• Home design: Two-story building; Resale property
• Construction: Block, frame, and stucco construction; Built-up roof
• Exterior features: Lot smaller than a quarter acre; Zoned 5700

Interior

• Bedrooms: Six 2-bedroom units (three units of one type, two of another, and one of a third type) — on-street parking associated with units
• Flooring: Tile
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Wall/window air conditioning units
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $480k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $480k).
• Cap rate 11.8% 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 soft (-1.4%/yr); 172 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $7,086/mo this rent would consume 210% of the median local household income ($41k/yr) (locally 4755% 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 $3k of loan paydown is wiped out by about $14k 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 $134k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $480,000

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.48% ✓
• Cap rate: 11.76%
• Cash-on-cash: 19.51%
• DSCR: 1.87
• 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: 8.0%
• Equity multiple: 1.30×
• Total profit: $40,776
• Equity at exit: $71,570

10-year hold

• IRR: 14.5%
• Equity multiple: 2.01×
• Total profit: $135,114
• Equity at exit: $41,502

Cash invested: $134,400 (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 33135

• Home prices YoY: -27.6%
• Rents YoY: -1.4%
• Active inventory: 172
• Price-to-rent: 22.6×

Monthly cashflow live

• Estimated rent: $7,086 medium
• Mortgage (P&I): −$2,517
• Tax from tax record: −$696 /mo · $8,351/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,488
• Net cashflow: $2,185

Break-even live

Break-even rent $4,320

Max offer price $480,000

Occupancy floor 64%

Sensitivity live

Price	-10% $2,457	-5% $2,321	+0% $2,185	+5% $2,049	+10% $1,913
Rent	-10% $1,625	-5% $1,905	+0% $2,185	+5% $2,465	+10% $2,745
Rate	-1.0pp $2,427	-0.5pp $2,307	base $2,185	+0.5pp $2,061	+1.0pp $1,934

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

Units	Beds	Baths	Est. rent
▸ 4× units	2.0	1	$7,084
Total (4 units)			$7,086

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: $120,000
• Closing costs: $14,400
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
290 Shore Dr E #290 Miami, FL	4.0	4.0	2314	$18,500	$7.99	12d	1	1.26mi
175 SE 25th Rd #3403 Miami, FL	3.0	3.5	1946	$21,000	$10.79	16d	1	1.37mi
90 SW 3rd St #12 Miami, FL	3.0	3.5	2418	$18,000	$7.44	6d	1	1.37mi
175 SE 25th Rd Unit 1904 Miami, FL	3.0	3.5	1946	$18,900	$9.71	18d	1	1.38mi
175 SE 25th Rd Unit 3104 Miami, FL	3.0	3.5	1946	$25,000	$12.85	9d	1	1.38mi
175 SE 25th Rd Unit 3302 Miami, FL	4.0	4.5	2752	$37,000	$13.44	25d	1	1.38mi
175 SE 25th Rd Unit 3104 Miami, FL	3.0	3.5	1946	$25,000	$12.85	25d	1	1.38mi
175 SE 25th Rd Apt 602 Miami, FL	3.0	3.5	2105	$20,000	$9.50	25d	1	1.38mi
1000 Brickell Plz Miami, FL	3.0–6.0	3.5–5.5	3692	$19,800	$5.36	12d	2	1.45mi
1000 Brickell Plz Miami, FL	3.0–6.0	3.5–5.5	3486	$22,000	$6.31	25d	2	1.45mi
1000 Brickell Plz Miami, FL	3.0–6.0	4.5–5.5	3795	$18,000	$4.74	4d	2	1.45mi

Listing history 7 events

1. 2026-06-21
   days on market $480,000 Active 8 DOM
2. 2026-06-18
   days on market $480,000 Active 5 DOM
3. 2026-06-17
   days on market $480,000 Active 4 DOM
4. 2026-06-16
   days on market $480,000 Active 3 DOM
5. 2026-06-15
   days on market $480,000 Active 2 DOM
6. 2026-06-13
   remarks 407-char remark
7. 2026-06-13
   listed $480,000 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: $8,351 · $696/mo
• Projected year-2 tax: $8,351 · $696/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥103°F today · 32 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: $85,032
• − Mortgage interest: −$26,887
• − Property taxes: −$8,351
• − Insurance: −$2,400
• − Repairs & maintenance: −$6,803
• − Management: −$6,803
• − Depreciation: −$13,964
• Taxable income: $19,825
• Est. tax owed @ 24.0%: −$4,758
• After-tax cash flow: $21,461/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): 36,143
• Household income: $40,567
• Rent vs Own: 77.3% rent · 22.7% own
• Severe rent burden: 4755.0

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 (94%)
• Race & ethnicity: Hispanic / Latino 94% Two or more races 62% White 4% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 48% Dominican 2% Salvadoran 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 74% · Canada, Jamaica, Dominican Republic
• Languages at home: 6% English-only · Spanish 92% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -219.59%
• Current HPI: 574.7898
• Rent YoY: ▼ -1.37%
• 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

+310.3% since first listed

12 events — show timeline

• 2026-06-10 Listed $480,000 MARMLS
• 2024-11-19 Listing Removed — MARMLS
• 2024-06-11 Listed $750,000 MARMLS
• 2023-02-02 Sold (MLS) $525,000 MARMLS
• 2023-01-25 Pending — MARMLS
• 2023-01-24 Listing Removed — MARMLS
• 2023-01-04 Relisted — MARMLS
• 2022-12-28 Pending — MARMLS
• 2022-08-16 Contingent — MARMLS
• 2022-08-01 Listed $560,000 MARMLS
• 1997-04-08 Sold (Public Records) $99,000 Public Records
• 1990-06-06 Sold (Public Records) $117,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $8,351 · +10.0% YoY. Source: county tax records.