Good morning. March is the month when everyone remembers that January resolutions were optional and decides to start fresh anyway. I'm doing that with the newsletter. Six months off, no particular reason I'm prepared to defend, and here we are. Spring is a reasonable time to restart. The market agrees. New look this issue, and no more Google Drive links, your full listings now live at their own dedicated page, click the buttons below and you will see for yourself.
THE 1% RULE SNAPSHOT · 🏆 Karim's Top 3 Multifamily Picks · Issue #07
📍 2425 NW 28th St — Miami, FL 33142
💵 $614,000 | 🏠 Triplex | 💰 Est. Rent: $6,900/mo
✅ 1.12% Rule | 💵 Net Cash Flow: ≈ $1,275/mo
Allapattah is Miami's next frontier. The Rubell Museum brought the galleries, and the investment is following. A $614K triplex a mile from the Design District is rare. Three units, positive cash flow, and a neighborhood story that's still being written.
🔗 View listing (MLS: A11965762)
📍 6241 NW Miami Pl — Miami, FL 33150
💵 $899,000 | 🏠 Duplex | 💰 Est. Rent: $9,800/mo
✅ 1.09% Rule | 💵 Net Cash Flow: ≈ $1,669/mo
Nearly $10K/month in gross rent on a two-unit property is not a number you see every day. At 1.09%, this one clears the bar and then some. Strong workforce housing demand in this zip code has kept rents steady even as new supply hit the broader market.
🔗 View listing (MLS: A11960470)
📍 2601 N 66th Ave — Pembroke Pines, FL 33024
💵 $615,000 | 🏠 Fourplex | 💰 Est. Rent: $7,500/mo
✅ 1.22% Rule | 💵 Net Cash Flow: ≈ $1,659/mo
Best ratio in this week's Top 3. Four units in Pembroke Pines at $615K means you're buying at under $154K per door. Institutional buyers would call that a steal. Broward's fundamentals are tightening (supply down to 5.0 months) and this fourplex is already priced to perform.
🔗 View listing (MLS: A11919736)
🏙️ Karim's Top 3 Condo Picks · Issue #07
New this issue: condo picks. Miami-Dade condos are sitting at 13.4 months of supply, firmly in buyer's market territory, and motivated sellers are everywhere thanks to SIRS reserve pressure. The negotiating leverage is real. I ran the same 1% rule analysis across the active condo market and pulled three that actually pencil out. Same framework as multifamily: same-building rent comps, 20% expense ratio, 25% down. Hit reply and let me know what you think. If the response is good, this becomes a regular section.
📍 1000 Island Blvd Unit#1508 — Aventura, FL 33160
💵 $345,000 | 🛏️ 2bd/2ba | 💰 Est. Rent: $5,643/mo
✅ 1.64% Rule | 💵 Net Cash Flow: ~$1,787/mo
Williams Island is gated, waterfront, and has marina access. It also has the best 1% ratio in this week's condo list by a wide margin. At $345K for a 2/2 with nearly $1,800/mo in cash flow, this is the kind of unit that generates a waiting list. Strong comp base from same-building rentals.
🔗 View listing (MLS: A11802921)
📍 6801 Collins Ave Unit#1101 — Miami Beach, FL 33141
💵 $515,000 | 🛏️ 1bd/1ba | 💰 Est. Rent: $7,311/mo
✅ 1.42% Rule | 💵 Net Cash Flow: ~$1,283/mo
Carillon Miami Beach is a wellness-focused luxury building on Collins Ave. The rent estimate is backed by same-building comps, and at 1.42% with positive cash flow in Miami Beach, this is a genuine outlier. High-demand tenants, premium location, comp-supported numbers.
🔗 View listing (MLS: A11894097)
📍 1000 Island Blvd Unit#2105 — Aventura, FL 33160
💵 $400,000 | 🛏️ 2bd/2ba | 💰 Est. Rent: $5,643/mo
✅ 1.41% Rule | 💵 Net Cash Flow: ~$1,496/mo
Same building as Pick #1, different floor, different price point, and still clearing 1.41% with nearly $1,500/mo cash flow. Williams Island's deep rental comp pool makes the estimate reliable. Two picks from the same building isn't a coincidence; it's the market telling you something.
🔗 View listing (MLS: A11948440)
📊 South Florida Market — February 2026
Source: MIAMI REALTORS®
| Market | Type | Median Price | ∆ YoY | Months Supply | Days to Contract |
|---|---|---|---|---|---|
| Miami-Dade | SFH | $685,000 | +4.6% | 6.2 | 55 |
| Miami-Dade | Condos | $410,000 | -9.9% | 13.4 | 83 |
| Broward | SFH | $620,000 | +1.6% | 5.0 | 54 |
| Palm Beach | SFH | $675,000 | +4.3% | 4.9 | 53 |
🧠 What It Means for Investors: Miami-Dade SFH multifamily continues to be the market's most resilient segment. Prices are up 4.6% while condos shed nearly 10% and sit on the market 28% longer than a year ago. Palm Beach supply dropped to its tightest level in the region, which means competition for deals there is stiffening. If you're choosing between asset classes right now, SFH multifamily is clearly winning on the fundamentals.
📰 The Supply Wave Is Here: What 4% Rent Drops Mean for Your Numbers
Photo: Pexels
South Florida was never going to absorb 18,600 new apartment units without feeling it somewhere. That somewhere is now: average asking rents across the region dropped to approximately $2,200 per month in early 2026, down 4% year-over-year and the sharpest annual decline in recent memory. Institutional operators are extending free-rent concessions. Lease-up timelines are stretching. Yet in the same week that data landed, Griffis Residential paid $78.5 million ($300,000 per door) for a 263-unit complex in West Palm Beach. Long-term conviction in this market hasn't budged.
Here's what that paradox means for a 2–4 unit owner in Miami-Dade or Broward: the supply wave is real, but it's concentrated in Class A high-rise product, not in the workforce housing range where you're playing. New luxury towers pulling tenants with free months and amenity packages are not competing directly with a three-bedroom walk-up in Allapattah or a fourplex off Pines Boulevard. The competition is indirect, but it matters. If a renter can get a brand-new one-bedroom in a high-rise for $2,100 with a free month, their tolerance for a dated unit at $2,300 drops fast. The move right now is not to panic. Tighten instead: make sure your units are clean, priced to the real market (not last year's market), and that your best tenants feel valued enough to renew. Rent growth is on pause. Occupancy is the new KPI.
☕ Palantir CEO Bought a $46M Mansion Before Anyone Knew He Was Moving Here
Photo: Pexels
In June 2025, Palantir CEO Alex Karp quietly bought 55 East San Marino Drive on Venetian Islands, a 9,700-square-foot waterfront property worth $46 million, before his company made a single public statement about relocating its headquarters from Denver. By March 2026, the move was official. Karp now lives among Mark Zuckerberg ($170M Fisher Island compound), Larry Page ($188M North Bay Road estate), and Sergey Brin ($51M waterfront buy). It's a who's-who of tech wealth that has effectively made Miami their primary residence.
The pattern here is not random. California's proposed wealth tax has turned the exit door into a flood gate, and Miami is where the capital is landing. But here's the angle that matters for a 2–4 unit investor: each major headquarters relocation brings a company's employees, and those employees need somewhere to live. Palantir's talent doesn't land in Aventura looking for a 5,000-square-foot mansion. They land in Brickell and Wynwood looking for a well-located apartment, a clean unit, and easy access to their new office. That is your tenant. That is your demand pipeline, and it just got upgraded.
💡 Before You Make Your Next Offer, Run the Numbers at 7%
Photo: Pexels
The 30-year fixed rate is sitting at 6.19% as of early March, and purchase applications just jumped 7.8% week-over-week. That's a clear sign buyers think rates might not stay this low. Here's what no one in the rate-watch commentary is saying loudly enough: investment property loans run 0.5–0.75% above conforming rates. You're already borrowing at 6.75–7%, and HousingWire's lead analyst has flagged a credible scenario (Iran conflict + tariff-driven inflation) that could push the 30-year to 7% or higher before summer.
Before you write your next offer, run both scenarios side by side:
- At 6.25%: A $600K acquisition with 25% down carries a monthly mortgage of approximately $2,782
- At 7.00%: That same deal costs approximately $3,053/mo ($271/mo more). A deal that cash flows $400/mo at 6.25% is now losing $130/mo
Don't let a favorable current rate make you lazy on sensitivity analysis. If your deal only works at today's rate and nothing else, it's not a deal. It's a bet. Also worth noting: 5/1 ARMs are currently sitting at 5.26%, which is meaningfully lower for investors planning a 3–5 year hold before refinancing or selling. That spread is worth a conversation with your lender.
Bottom line: Underwrite at 7%. If it still works, buy it. If it doesn't, wait for the price to catch up to reality.
📊 Foreclosure Watch: What the Alexander Brothers' Miami Beach Homes Mean for the Market
Photo: Pexels
The same week the Alexander brothers were convicted on federal charges, City National Bank filed two foreclosure suits on their Miami Beach waterfront properties: $7.3M against the Sunset Islands home and $7.5M against 2687 Flamingo Drive. Sources close to the deal suggest the Flamingo Drive property could hit the open market at $30–40M. If it does, it will become the most-watched forced sale in the luxury Miami Beach market this year.
For most of us, $35M listings are more spectator sport than investment thesis, but here's the signal worth tracking: when overleveraged luxury assets land on the market under distress, the ripple effect on nearby comp pricing is real. Watch Miami Beach condo valuations in the corridors adjacent to these addresses over the next 12 months. Forced sales at discount always leave a mark on the appraisal stack.
🎉 What's Happening in Miami
Photo: Pexels
March in Miami hits different. The weather is perfect, the festivals are stacked, and anyone who has never been here this time of year is genuinely missing out.
🎶 Calle Ocho Music Festival · Sunday, March 15 · West Little Havana · Free
The granddaddy of all Miami street festivals. Twenty-three blocks, hundreds of thousands of people, live music from every Latin genre imaginable, and the kind of crowd energy that reminds you exactly why owning real estate within a mile of Little Havana is not a bad idea. If you haven't been, this is the year.
🍀 JohnMartin's St. Patrick's Street Festival · March 15 · Coral Gables
The 33rd annual street party in the heart of the Gables. Irish food, live bands, and an excuse to wear green in 80-degree weather. One of the more consistently fun neighborhood events in Miami-Dade.
🎉 Miami Cigar Festival · March 21–22 · Pullman Miami Airport Hotel
Two days of premium cigars, spirits tastings, and live entertainment. Not your typical festival, but the crowd is always interesting and the product is genuinely excellent. Worth the trip if you're into it.
Until next time. If this issue landed in your inbox and made you look up a listing, forward it to one investor friend who should be reading it too. The bigger this community gets, the better the deals we can uncover together.
If you want me to run numbers on any of the properties above, or any listing you're currently eyeing, just reply to this email. I'm here.
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Miami Multifamily Minute is published biweekly. All cash flow estimates use 7.47% 30-yr fixed, 25% down, 35% expense ratio (multifamily) or 20% expense ratio + HOA (condos). Past performance is not indicative of future results. Always conduct your own due diligence.
