1 bd · 1.0 ba ·
825 sqft ·
Built 2007
· Condo
· Active
· 175 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$4,841/mo
Mortgage (P&I)
−$1,914
Tax + insurance
−$1,085
HOA
−$660
Vac / Maint / Mgmt
−$1,017
Net cashflow
$165/mo
Annual
$1,975/yr
Cap rate
8.24%
Cash-on-cash
6.94%
DSCR
1.31
1% rule
1.33%
Cash to close
$102,200
Investor read
This is a 1-bed/1.0-bath condo listed at $365k.
At list price, monthly cash flow is $165 ($2k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($5k rent vs $365k).
It's been on market 175 days — a 12% lower offer ($321k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $321k (12.0% below list) — sets the bar for market timing.
Local home prices are declining (-2.5%/yr); year-one equity from $3k of loan paydown is wiped out by about $9k 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.
Watch-outs: flood insurance adds $427/mo.
Market conditions: Rents flat; 869 active listings in the ZIP; 2 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.
7 sale attempts since 10y 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 $280k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.
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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 8.2% 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.
At $4,841/mo this rent would consume 53% of the median local household income ($109k/yr) (locally 2260% 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 175 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 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?
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?
CashFlowRE · CFR-5C130V118G0XM4
· Data 2 weeks agocashflowre.app · 2026-05-29