WorkspaceDiscoverMultifamily · Miami · Miami-Dade County
259 NE 56th St, Miami
Two occupied units in Little Haiti with utilities included in rent. Historical taxes reflect a homestead exemption and should not be used as the buyer tax forecast.
Recorded status: Broker page reported active; recheck availability. Checked: .
Dated listing record · recheck availability and legal unit count.
- Est. gross yield at asking
- 9.3% Estimate · rent potential ÷ asking price
- Asking price
- $699,999
Rent potential · Estimate: $5,398/moBroad HUD benchmark, not property-specific market rent or current collections.
- Estimated annual NOI
- $25,140 Before debt and capital reserves
- Estimated cap rate
- 3.6% Modeled NOI ÷ purchase price
- Est. cash flow / mo
- $1,933 All cash · after reserves
Assumptions behind these estimates
Starting values for this brief. Change any of them in the interactive brief; your changes stay in your browser. Default values
| Input | Value | Basis |
|---|---|---|
| Total scheduled rent per month | $5,398 | HUD-based planning rent |
| Vacancy (%) | 5% | Matches planning allowance |
| Management (% of collected rent) | 8% | Matches planning allowance |
| Maintenance (% of total rent) | 5% | Matches planning allowance |
| Buyer annual tax assumption (% of price) | 2% | Matches planning allowance |
| Annual insurance | $5,844 | Matches planning allowance |
| Annual owner-paid utilities | $6,000 | Matches planning allowance |
| Monthly HOA or condo fees | $100 | Matches planning allowance |
| Other annual operating expenses | $1,200 | Matches planning allowance |
| Capital reserves (% of total rent) | 3% | Matches planning allowance |
| Down payment (%) | 100% | Matches planning allowance |
| Mortgage rate (%) | 7% | Matches planning allowance |
Unit mix & possession
3 bed / 3 bath plus 1 bed / 1 bath; both reportedly leased.
- Reported units
- 2
- Reported listing area
- 1,511 sq ft
- Asking / reported sq ft
- $463
- Historical property tax / year
- $3,385
Historical tax is the seller’s bill; buyer taxes can change.
Broker info & key considerations To confirm
- Owner-paid electricity, sewer, trash and water may materially change cash flow.
- Obtain current lease rents; historical homestead taxes will not establish buyer taxes.
- Listing availability, legal units, lease collections and operating costs require independent confirmation.
Source evidence and diligence
Financial figures observed Sep 25, 2026. Reported income is not audited collections. Editable estimates, financing and saved assumptions are separate from these source facts.
Gross rental yield basis
Displayed whole-property scheduled rent × 12 divided by source asking price, not your saved offer. HUD-based planning rent: FY2027 HUD FMR for Miami-Miami Beach-Kendall, FL HUD Metro FMR Area (METRO33100MM5000), effective October 1, 2026. Documented bedrooms per offered unit: 3, 1. Published gross housing benchmark $5,398/month includes major utilities, excluding phone, cable/satellite TV and internet. The listing includes utilities: no tenant deduction; the $150/unit/month electricity planning budget is added to owner utility costs once. This electricity amount is editable budgeting policy, not a verified allowance or conservative bound. Replace scheduled rent and utility inputs with leases, payer terms and local bills. The adjusted $5,398/month is a full-occupancy scenario, not a rental appraisal, lease offer, subsidy payment standard or eligibility decision. Full-occupancy potential before vacancy, operating costs, financing and income tax; not current collections, cap rate or cash return.
Sources
- Compass · Optimar International Realty · MLS A12033314Source observation · Sep 25, 2026
Questions to resolve
- Obtain executed leases, tenant estoppels, deposit accounting and collection history.
- Reconcile the offered units, address and living area with title, permits and occupancy records.
- Obtain trailing expenses, buyer tax estimates and property-specific insurance quotes.
Similar properties
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Florida property research
Research scope includes Miami-Dade, Broward, the Florida Keys and Flagler County. Published observations vary by market.
[1] Gross yield excludes costs and financing. Source figures are unverified; estimates use editable assumptions. Check current listing availability. County records are separate from listings. Saves stay in this browser; export a backup before clearing site data. Sources & methods