1 bd · 1.0 ba ·
602 sqft ·
Built 1990
· Condo
· Active
· 436 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$3,742/mo
Mortgage (P&I)
−$1,301
Tax + insurance
−$844
HOA
−$323
Vac / Maint / Mgmt
−$786
Net cashflow
$488/mo
Annual
$5,859/yr
Cap rate
10.72%
Cash-on-cash
15.81%
DSCR
1.70
1% rule
1.51%
Cash to close
$69,440
Investor read
This is a 1-bed/1.0-bath condo listed at $248k.
At list price, monthly cash flow is $488 ($6k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($4k rent vs $248k).
It's been on market 436 days — a 12% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $218k (12.0% below list) — sets the bar for market timing.
In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (1.0% local appreciation)).
Location reads 80/100 on livability (#108 in FL, #1,672 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, health & safety A+; Watch: housing C-, amenities D-, 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.
Watch-outs: flood insurance adds $427/mo.
Market conditions: Rents rising (+3.5%/yr); 670 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
2 sale attempts; this cycle's ask is 13678% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
Current owner paid $90k; list at $248k implies a 176% gain — meaningful room to come down on a strong offer.
At projected returns (1.0% appreciation + 3.5% rent growth), your $69k cash investment doubles in ~6 years — after that, you're playing with house money.
By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
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.
Cap rate 10.7% vs local median 1.5% in Miami Beach — 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.
Questions for listing agent
It's been on market 436 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
Schools are A-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?
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.
CashFlowRE · CFR-2KM223C6CKJ7Z4
· Data 2 weeks agocashflowre.app · 2026-05-29