1 bd · 1.0 ba ·
755 sqft ·
Built 1974
· Condo
· Active
· 361 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$3,768/mo
Mortgage (P&I)
−$1,306
Tax + insurance
−$434
HOA
−$735
Vac / Maint / Mgmt
−$791
Net cashflow
$502/mo
Annual
$6,022/yr
Cap rate
9.03%
Cash-on-cash
9.78%
DSCR
1.44
1% rule
1.51%
Cash to close
$69,720
Investor read
This is a 1-bed/1.0-bath condo listed at $249k.
At list price, monthly cash flow is $502 ($6k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($4k rent vs $249k).
It's been on market 361 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
Location reads 80/100 on livability (#127 in FL, #1,834 nationally) — a professional / high-income tenant draw. Strengths: schools A+, health & safety A+, amenities A; Watch: crime 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 $66/mo.
Market conditions: Rents soft (-1.5%/yr); 985 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
3 sale attempts since 6y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
Current owner paid $185k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 9.0% vs local median 2.6% in Aventura — 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.
At $3,768/mo this rent would consume 50% of the median local household income ($91k/yr) (locally 1838% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.
Questions for listing agent
It's been on market 361 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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?
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· Data 2 days agocashflowre.app · 2026-05-29