79 SW 12th St #1210

Miami, FL 33130

$545,000F

2 bd · 2.0 ba · 1,100 sqft · Built 2008 · Condo · Active · 143 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,499/mo
• Mortgage (P&I): −$2,858
• Tax + insurance: −$975
• HOA: −$1,289
• Vac / Maint / Mgmt: −$735
• Net cashflow: $-2,358/mo
• Annual: $-28,291/yr
• Cap rate: 1.25%
• Cash-on-cash: -18.02%
• DSCR: 0.20
• 1% rule: 0.64%
• Cash to close: $152,600

Investor read

• This is a 2-bed/2.0-bath condo listed at $545k. Condition is rated good.
• At list price, monthly cash flow is $-2k ($-28k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (62.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (35.8% below list).
• It's been on market 143 days — a 12% lower offer ($480k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $204k (62.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-1.8%/yr); year-one equity from $4k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Southside Preparatory Academy (math 54% / reading 61%, grade C+, #764 of 2,144 statewide, top 36%, 929 students, 39% FRL); Shenandoah Middle School (math 34% / reading 44%, grade F, #381 of 571 statewide, top 67%, 1,296 students, 72% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL).
• Zoned-school proficiency averages 37% at this address vs 50% district-wide (-12 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $66/mo; HOA is 37% of rent.
• Market conditions: Rents soft (-0.5%/yr); 838 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $3,499/mo this rent would consume 69% of the median local household income ($61k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 143 days. Have you received any prior offers? Is the seller open to a 63% 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 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?