199 SW 12th Ave Unit 415B · Miami, FL 33130

$340,000

2 bd · 2.0 ba · 760 sqft · Condo public records · 91 Days on market

Built 1989 $440/mo HOA · 9% of rent

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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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Appreciation +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks MLS

Charming 2/2 with washer and dryer inside the unit, two balconies facing Brickell skyline, new AC unit, new electric heater, new ceramic floors, just six blocks from the vibrant Calle Ocho and four blocks from LoanDepot Park. Elementary school is an A graded school. The property has undergone major capital improvements, including structural, all-new plumbing and electrical systems, a brand-new roof, two modern elevators, and energy-efficient LED hallway lighting. Currently undergoing its 40-year recertification, strong financials and reserves providing peace of mind for any buyer. HOA just $440 covering insurance, flood, water, garbage, and cable and reserves. Rental income and tenant demand remain strong in this area. No assessments. Min 6 month leases. Owner occupied first 2 years.

Key facts

• Laminate flooring
• Private balcony
• In unit washer dryer

Tags

• PRIVATE BALCONY
• LAMINATE FLOORING
• IN UNIT WASHER DRYER
• SECURE ACCESS BUILDING
• MOVE IN READY

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee of $440; Association covers common areas, cable TV, insurance, and water; Building has elevator(s)

Exterior

• Parking: Detached garage with 1 covered space (1 garage space)
• Security: Secured lobby
• Home design: Attached property; 4-story building; Entry on 3rd level
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio

Interior

• Kitchen: Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Elevator; Bedroom on main level
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $340k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $340k).
• Recommended offer: $309k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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 (-0.5%/yr); 639 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,963/mo this rent would consume 98% of the median local household income ($61k/yr) (locally 5231% 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 (-1.8%/yr); year-one equity from $2k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $215k; list at $340k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $309,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.46% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.26%
• DSCR: 1.63
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.79% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.93×
• Total profit: $-6,606
• Equity at exit: $69,370

10-year hold

• IRR: 2.0%
• Equity multiple: 1.15×
• Total profit: $14,113
• Equity at exit: $62,497

Cash invested: $95,200 (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 33130

• Home prices YoY: -0.5%
• Rents YoY: -0.5%
• Active inventory: 639
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $4,963 medium
• Mortgage (P&I): −$1,783
• Tax est. 1.5%: −$425 /mo · $5,100/yr
• Insurance: −$142
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$440
• Vacancy / Maint / Mgmt: −$1,042
• Net cashflow: $705

Break-even live

Break-even rent $4,071

Max offer price $340,000

Occupancy floor 81%

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $440 · $5,280/yr
• Likely covers: watertrashelectriccable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-05-31
   days on market $340,000 Active 91 DOM
2. 2026-04-19
   price $340,000
3. 2026-03-01
   listed $350,000 Active
4. 2025-12-02
   historical $2,200
5. 2025-09-18
   price $2,200
6. 2025-08-26
   listed $2,300
7. 2025-06-27
   soldstatus $215,000
8. 2025-06-16
   soldstatus $215,000 Closed 794-char remark

   Show marketing remark (794 chars)

   Charming 2/2 with washer and dryer inside the unit, two balconies facing Brickell skyline, new AC unit, new electric heater, new ceramic floors, just six blocks from the vibrant Calle Ocho and four blocks from LoanDepot Park. Elementary school is an A graded school. The property has undergone major capital improvements, including structural, all-new plumbing and electrical systems, a brand-new roof, two modern elevators, and energy-efficient LED hallway lighting. Currently undergoing its 40-year recertification, strong financials and reserves providing peace of mind for any buyer. HOA just $440 covering insurance, flood, water, garbage, and cable and reserves. Rental income and tenant demand remain strong in this area. No assessments. Min 6 month leases. Owner occupied first 2 years.

9. 2025-04-23
   status Pending 794-char remark

   Show marketing remark (794 chars)

   Charming 2/2 with washer and dryer inside the unit, two balconies facing Brickell skyline, new AC unit, new electric heater, new ceramic floors, just six blocks from the vibrant Calle Ocho and four blocks from LoanDepot Park. Elementary school is an A graded school. The property has undergone major capital improvements, including structural, all-new plumbing and electrical systems, a brand-new roof, two modern elevators, and energy-efficient LED hallway lighting. Currently undergoing its 40-year recertification, strong financials and reserves providing peace of mind for any buyer. HOA just $440 covering insurance, flood, water, garbage, and cable and reserves. Rental income and tenant demand remain strong in this area. No assessments. Min 6 month leases. Owner occupied first 2 years.

10. 2025-04-14
    listed $230,000 Active 794-char remark

    Show marketing remark (794 chars)

    Charming 2/2 with washer and dryer inside the unit, two balconies facing Brickell skyline, new AC unit, new electric heater, new ceramic floors, just six blocks from the vibrant Calle Ocho and four blocks from LoanDepot Park. Elementary school is an A graded school. The property has undergone major capital improvements, including structural, all-new plumbing and electrical systems, a brand-new roof, two modern elevators, and energy-efficient LED hallway lighting. Currently undergoing its 40-year recertification, strong financials and reserves providing peace of mind for any buyer. HOA just $440 covering insurance, flood, water, garbage, and cable and reserves. Rental income and tenant demand remain strong in this area. No assessments. Min 6 month leases. Owner occupied first 2 years.

11. 2025-04-02
    historical
12. 2025-03-04
    price $250,000
13. 2024-12-03
    listed $274,900 Active
14. 1989-08-22
    soldstatus $59,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 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: $59,555
• − Mortgage interest: −$19,045
• − Property taxes: −$5,100
• − Insurance: −$6,818
• − Repairs & maintenance: −$4,764
• − Management: −$4,764
• − HOA: −$5,280
• − Depreciation: −$9,891
• Taxable income: $3,892
• Est. tax owed @ 24.0%: −$934
• After-tax cash flow: $7,520/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): 34,964
• Household income: $61,009
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 5231.0

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 (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 44% White 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 24% Dominican 4%
• Common ancestry: Romanian 2% Estonian 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, Guatemala
• Languages at home: 23% English-only · Spanish 70% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -1.79%
• Current HPI: 344.7752
• Rent YoY: ▼ -0.53%
• 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

+471.4% since first listed

13 events — show timeline

• 2026-04-19 Price Changed $340,000 MARMLS
• 2026-03-01 Listed $350,000 MARMLS
• 2025-12-02 Rental Removed $2,200 MARMLS
• 2025-09-18 Price Changed $2,200 MARMLS
• 2025-08-26 Listed for Rent $2,300 MARMLS
• 2025-06-27 Sold (Public Records) $215,000 Public Records
• 2025-06-16 Sold (MLS) $215,000 MARMLS
• 2025-04-23 Pending — MARMLS
• 2025-04-14 Listed $230,000 MARMLS
• 2025-04-02 Listing Removed — MARMLS
• 2025-03-04 Price Changed $250,000 MARMLS
• 2024-12-03 Listed $274,900 MARMLS
• 1989-08-22 Sold (Public Records) $59,500 Public Records

Property tax history

+3.5%/yr

Latest (2025): $353 · +7.1% YoY. Source: county tax records.