17255 SW 95th Ave #249

Palmetto Bay, FL 33157

$174,900D

1 bd · 1.0 ba · 664 sqft · Built 1971 · Condo · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,084/mo
• Mortgage (P&I): −$917
• Tax + insurance: −$289
• HOA: −$452
• Vac / Maint / Mgmt: −$438
• Net cashflow: $-12/mo
• Annual: $-146/yr
• Cap rate: 6.21%
• Cash-on-cash: -0.30%
• DSCR: 0.99
• 1% rule: 1.19%
• Cash to close: $48,972

Investor read

• This is a 1-bed/1.0-bath condo listed at $175k.
• At list price, monthly cash flow is $-12 ($-146/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (1.2% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $173k (1.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#315 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute A-; Watch: amenities F, cost of living F, health & safety 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: Dr. Henry E. Perrine Academy of The Arts (math 56% / reading 65%, grade B-, #664 of 2,144 statewide, top 32%, 550 students, 59% FRL); Southwood Middle School (math 57% / reading 66%, grade B+, #124 of 571 statewide, top 22%, 1,098 students, 42% FRL); Miami Palmetto Senior High School (math 45% / reading 65%, grade C, #135 of 667 statewide, top 20%, 2,671 students, 34% FRL) — zoned schools average 45% FRL vs 64% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: HOA is 22% of rent.
• Market conditions: Rents soft (-0.8%/yr); 381 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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.
• 8 sale attempts since 12y 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 $140k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: 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.
• This rent runs 31% of the median local income ($82k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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?
• 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.