20890 SW 236th St · Homestead, FL 33031

$999,990

3 bd · 2.0 ba · 1,545 sqft · SingleFamily public records · 158 Days on market

Built 1988 1.25 ac lot Est $811k · 23% over

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Why this score? — see what drove the F 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 +10.4/30.0
• Appreciation +5.9/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks

Ready to Bring your horses? In the heart of the spectacular Bonanza Area, a well maintained agriculture home on an ample 1.25 acres. Enjoy ranch-style living in this 3 bedroom + an extra separate room that adds up to 500 Sq ft to the home and 2 bath, including a new roof, floor, and windows. Fenced with an electrical gate, has a separate laundry room and covered terrace. SINCE 2023 THIS HOME HAS FULLY REMODELED BATHROOMS, NEW ROOF, NEW HURRICANE IMPACT WINDOWS AND DOORS, NEW A/C, BLINDS AND A WATER SOFTENER SYSTEM. 2025 WATER HEATER. Beautiful landscape including many types of fruit trees (sour orange, known as "sugar apple, " tamarind, mandarin, orange, lemon, jocote known as cru

Key facts

• Ample 1.25 acres
• Covered terrace
• Ranch-style living

Tags

• AMPLE 1.25 ACRES
• RANCH-STYLE LIVING
• SEPARATE LAUNDRY ROOM
• COVERED TERRACE
• FULLY REMODELED BATHROOMS
• NEW HURRICANE IMPACT WINDOWS

Property features AI

Finance

• Other: Green energy-efficient features for appliances, HVAC and roof
• Financial info: No pet restrictions

Exterior

• Parking: Driveway; RV access/parking
• Security: Security/high impact doors; Storm/security shutters
• Utilities: Public water and well; Septic tank; Cable not available
• Home design: Single-story; Faces north; Effective year built
• Construction: Block construction; Spanish tile roof
• Exterior features: Awnings; Fence; Fruit trees; Room for pool; Shed; Security/high impact doors; Storm/security shutters; Guest house; Horses allowed; Paved road access; One to two acre lot

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator
• Bedrooms: Guest quarters; In-law suite; Storage room
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds; Impact glass windows; Bedroom on main level; Breakfast area; Dining area; Separate formal dining room; Dual sinks; First floor entry; Handicap access; Living/Dining room; Main level primary
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1000k.

Deal economics

• At list price, monthly cash flow is $-689 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $878k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $725k (27.5% below list).
• Recommended offer: $725k (27.5% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.5% in Homestead — 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 (#158 in FL, #2,408 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-.
• 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: 126 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($7k loan paydown + $18k appreciation (1.8% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($880k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y 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 $570k; list at $1000k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $725,000 (27.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.73% ✗
• Cap rate: 5.65%
• Cash-on-cash: -2.30%
• DSCR: 0.90
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $811,125
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21431 SW 234th St	0.61mi	3/3.0	1,676 (+8%)	24mo	$879,900	$525	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.05×
• Total profit: $14,350
• Equity at exit: $383,664

10-year hold

• IRR: 5.2%
• Equity multiple: 1.69×
• Total profit: $193,579
• Equity at exit: $544,335

Cash invested: $279,997 (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 33031

• Home prices YoY: 0.3%
• Active inventory: 126
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $7,250 medium
• Mortgage (P&I): −$5,244
• Tax from tax record: −$604 /mo · $7,249/yr
• Insurance: −$417
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,522
• Net cashflow: $-689

Break-even live

Break-even rent $8,123

Max offer price $878,219

Occupancy floor —

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: $249,998
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21080 SW 242nd St Unit 21080 Homestead, FL	3.0	2.0	1968	$7,250	$3.68	18d	1	0.45mi
21080 SW 242nd St Unit 21080 Homestead, FL	3.0	2.0	1968	$7,250	$3.68	5d	1	0.45mi

Listing history 27 events

1. 2026-06-09
   days on market $999,990 Active 158 DOM
2. 2026-06-08
   days on market $999,990 Active 157 DOM
3. 2026-06-07
   days on market $999,990 Active 156 DOM
4. 2026-06-04
   days on market $999,990 Active 153 DOM
5. 2026-06-03
   days on market $999,990 Active 152 DOM
6. 2026-06-02
   days on market $999,990 Active 151 DOM
7. 2026-06-01
   days on market $999,990 Active 150 DOM
8. 2026-05-31
   days on market $999,990 Active 149 DOM
9. 2026-01-25
   price $999,990
10. 2026-01-02
    listed $1,019,990 Active
11. 2025-12-31
    historical
12. 2025-10-04
    price $1,019,990
13. 2025-07-06
    listed $1,099,990 Active
14. 2025-05-20
    historical
15. 2025-04-09
    price $1,189,990
16. 2025-02-24
    listed $1,239,990 Active
17. 2025-01-29
    historical
18. 2024-12-19
    price $1,249,990
19. 2024-08-21
    price $1,299,990
20. 2024-07-30
    listed $1,350,000 Active
21. 2015-08-07
    historical
22. 2015-05-20
    listed $339,000 Active
23. 2008-05-22
    listed $244,900
24. 2006-08-03
    soldstatus $570,000
25. 2005-10-04
    soldstatus $440,000
26. 2005-02-02
    soldstatus $366,000
27. 2003-10-29
    soldstatus $260,000

ⓘ 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: $7,249 · $604/mo
• Projected year-2 tax: $8,300 · $692/mo
• Expected delta: +$1,051/yr (+$88/mo · 14.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AH · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $87,000
• − Mortgage interest: −$56,015
• − Property taxes: −$7,249
• − Insurance: −$6,824
• − Repairs & maintenance: −$6,960
• − Management: −$6,960
• − Depreciation: −$29,091
• Taxable loss: −$26,099
• Est. tax savings @ 24.0%: +$6,264
• After-tax cash flow: $-2,008/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 — Homestead

• Score: 78/100
• State rank: #158
• US rank: #2408

Category grades

Amenities B- Commute A+ Cost of living B Crime C+ Employment C- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 191,470
• Population (ZIP): 7,795

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: Majority Hispanic (62%)
• Race & ethnicity: Hispanic / Latino 62% Two or more races 37% White 32% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Cuban 44% Salvadoran 1%
• Common ancestry: Lithuanian 2% Romanian 1% German 1%
• Foreign-born: 42% · Canada, Jamaica, Dominican Republic
• Languages at home: 35% English-only · Spanish 65%

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: ▲ 1.80%
• Current HPI: 672.14
• Rent YoY: —
• Metro: —
• 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

+284.6% since first listed

19 events — show timeline

• 2026-01-25 Price Changed $999,990 MARMLS
• 2026-01-02 Listed $1,019,990 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-10-04 Price Changed $1,019,990 MARMLS
• 2025-07-06 Listed $1,099,990 MARMLS
• 2025-05-20 Listing Removed — MARMLS
• 2025-04-09 Price Changed $1,189,990 MARMLS
• 2025-02-24 Listed $1,239,990 MARMLS
• 2025-01-29 Listing Removed — MARMLS
• 2024-12-19 Price Changed $1,249,990 MARMLS
• 2024-08-21 Price Changed $1,299,990 MARMLS
• 2024-07-30 Listed $1,350,000 MARMLS
• 2015-08-07 Listing Removed — MARMLS
• 2015-05-20 Listed $339,000 MARMLS
• 2008-05-22 Listed $244,900 MARMLS
• 2006-08-03 Sold (Public Records) $570,000 Public Records
• 2005-10-04 Sold (Public Records) $440,000 Public Records
• 2005-02-02 Sold (Public Records) $366,000 Public Records
• 2003-10-29 Sold (Public Records) $260,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $7,249 · +2.8% YoY. Source: county tax records.