1720 NE 33rd Ave Unit 102-5 · Homestead, FL 33033

$269,900

3 bd · 2.5 ba · 1,379 sqft · Condo · 4 Days on market

Built 2006 $79/mo HOA · 3% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.2/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• 1% rule +4.1/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * * * * * INVESTOR OPPORTUNITY * * * * * * GREAT 3/2.5 TOWNHOUSE AT VILLAS AT CARMEL INTO MALIBU BAY. Beautiful gated community, close to Baptist Hospital, currently rented x $1,150 monthly, but in the zone similar units is rented $1,400.

Key facts

• Spacious yard
• Centrally located
• Assigned parking

Tags

• SPACIOUS YARD
• ASSIGNED PARKING
• CENTRALLY LOCATED

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Monthly association fee (includes common areas); Association amenities: Clubhouse, Fitness Center, Barbecue, Picnic Area, Playground, Pool

Exterior

• Parking: Assigned parking; Guest parking
• Security: Security guard
• Utilities: Cable available
• Home design: Attached property; 2 stories; Entry on level 1
• Construction: Block construction
• Exterior features: Fence; Association pool

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom located on upper level
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds; First floor entry; Upper-level primary bedroom; Walk-in closet(s); Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $-6 ($-70/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (9.1% below list).
• Recommended offer: $245k (9.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.5% in Homestead — 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.

Location & tenants

• Location reads 78/100 on livability (#158 in FL, #2,408 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-.
• 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: Mandarin Lakes K-8 Academy (math 18% / reading 22%, grade F, #2,098 of 2,144 statewide, top 98%, 781 students, 80% FRL); Redland Middle School (math 21% / reading 30%, grade F, #512 of 571 statewide, top 90%, 601 students, 71% FRL); Homestead Senior High School (math 24% / reading 23%, grade F, #533 of 667 statewide, top 80%, 2,020 students, 74% FRL).
• Zoned-school proficiency averages 23% at this address vs 50% district-wide (-26 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.9%/yr); 619 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 42% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $125k; list at $270k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $245,369 (9.1% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.32×
• Total profit: $-51,210
• Equity at exit: $40,243

10-year hold

• IRR: -21.7%
• Equity multiple: 0.04×
• Total profit: $-72,511
• Equity at exit: $23,336

Cash invested: $75,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33033

• Home prices YoY: -28.2%
• Rents YoY: -2.9%
• Active inventory: 619
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,454 high
• Mortgage (P&I): −$1,415
• Tax est. 1.5%: −$337 /mo · $4,048/yr
• Insurance: −$112
• HOA: −$79
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $-6

Break-even live

Break-even rent $2,461

Max offer price $269,060

Occupancy floor 95%

Sensitivity live

Price	-10% $181	-5% $87	+0% $-6	+5% $-99	+10% $-192
Rent	-10% $-200	-5% $-103	+0% $-6	+5% $91	+10% $188
Rate	-1.0pp $130	-0.5pp $63	base $-6	+0.5pp $-76	+1.0pp $-147

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1720 NE 33rd Ave Unit 201-5 Homestead, FL	3.0	2.0	1062	$2,175	$2.05	26d	1	0.02mi
1690 NE 33rd Ave Unit 210-6 Homestead, FL	3.0	2.0	1062	$2,000	$1.88	24d	1	0.04mi
1690 NE 33rd Ave Unit 109-6 Homestead, FL	3.0	2.5	1379	$2,100	$1.52	4d	1	0.04mi
1650 NE 33rd Ave Unit 205-7 Homestead, FL	3.0	2.0	1062	$1,950	$1.84	26d	1	0.06mi
1650 NE 33rd Rd #108 Homestead, FL	3.0	2.5	1169	$2,100	$1.80	6d	1	0.09mi
1650 NE 33rd Rd Unit 106-10 Homestead, FL	3.0	2.0	1062	$1,999	$1.88	26d	1	0.09mi
1575 NE 33rd Ave #105 Homestead, FL	3.0	2.5	1169	$2,200	$1.88	26d	1	0.13mi
3375 NE 15th Dr Unit 102-12 Homestead, FL	3.0	2.0	1379	$2,200	$1.60	26d	1	0.13mi
1490 NE 33rd Ave Unit 109-13 Homestead, FL	3.0	2.0	1379	$2,300	$1.67	26d	1	0.16mi
1485 NE 33rd Rd Unit 101-1 Homestead, FL	2.0	2.0	1069	$1,900	$1.78	24d	1	0.19mi
1398 NE 33rd Ave Unit 101-25 Homestead, FL	3.0	2.0	1062	$2,000	$1.88	16d	1	0.27mi
3355 NE 13th Circle Dr Unit 201-28 Homestead, FL	3.0	2.0	1062	$2,100	$1.98	22d	1	0.28mi
3393 NE 11th Dr Homestead, FL	2.0	2.0	1258	$2,299	$1.83	3d	1	0.30mi
3393 NE 11th Dr Homestead, FL	2.0	2.0	1258	$2,399	$1.91	24d	1	0.30mi
2014 NE 38th Rd Homestead, FL	3.0	2.0	1758	$3,200	$1.82	26d	1	0.30mi
2014 NE 38th Rd Unit 2014 Homestead, FL	3.0	2.0	1758	$3,200	$1.82	9d	1	0.30mi
2014 NE 38th Rd Unit 2014 Homestead, FL	3.0	2.0	1758	$3,200	$1.82	21d	1	0.30mi
2014 NE 38th Rd Homestead, FL	3.0	2.0	1758	$3,200	$1.82	13d	1	0.30mi
14755 SW 302nd St Unit n/a Homestead, FL	3.0	2.0	1156	$2,875	$2.49	15d	1	0.31mi
1388 NE 33rd Ave Unit 104-24 Homestead, FL	3.0	2.0	1169	$2,200	$1.88	18d	1	0.31mi
2008 NE 38th Rd Homestead, FL	3.0	2.0	1758	$3,200	$1.82	26d	1	0.31mi
3330 NE 13th Circle Dr Unit 111-22 Homestead, FL	3.0	2.5	1169	$2,000	$1.71	15d	1	0.33mi
3330 NE 13th Circle Dr Unit 111-22 Homestead, FL	3.0	2.5	1169	$2,000	$1.71	7d	1	0.33mi
2120 NE 37th Rd Unit 1 Homestead, FL	2.0	1.0	1426	$2,350	$1.65	26d	1	0.33mi
2120 NE 37th Rd Unit 1 Homestead, FL	2.0	1.0	1426	$2,250	$1.58	14d	1	0.33mi
3384 NE 11th Dr Homestead, FL	3.0	2.0	1380	$2,800	$2.03	18d	1	0.34mi
2160 NE 37th Rd #2160 Homestead, FL	3.0	2.5	1610	$2,800	$1.74	26d	1	0.36mi
2160 NE 37th Rd #2160 Homestead, FL	3.0	2.5	1610	$2,800	$1.74	7d	1	0.36mi
1211 NE 37th Ave Homestead, FL	3.0	2.0	1450	$2,400	$1.66	26d	1	0.37mi
29523 SW 144th Ct Homestead, FL	4.0	2.0	1608	$2,995	$1.86	26d	1	0.39mi
3395 NE 10th St #103 Homestead, FL	2.0	2.0	920	$1,899	$2.06	26d	1	0.41mi
3385 NE 10th St #201 Homestead, FL	3.0	2.0	1776	$2,000	$1.13	26d	1	0.41mi
1005 NE 34th Ave #202 Homestead, FL	2.0	2.0	910	$2,000	$2.20	18d	1	0.42mi
2302 NE 37th Ter Unit 2302 Homestead, FL	3.0	2.5	1610	$2,900	$1.80	26d	1	0.42mi
3227 NE 11th Dr #3227 Homestead, FL	2.0	2.0	1258	$2,400	$1.91	26d	1	0.44mi
990 NE 33rd Ter #104 Homestead, FL	3.0	2.0	1196	$2,000	$1.67	26d	1	0.44mi
3220 NE 11th Dr Unit 1 Homestead, FL	3.0	2.5	1258	$2,500	$1.99	26d	1	0.47mi
970 NE 33rd Ter #102 Homestead, FL	2.0	2.0	920	$1,750	$1.90	24d	1	0.47mi
970 NE 33rd Ter #102 Homestead, FL	2.0	2.0	920	$1,750	$1.90	9d	1	0.47mi
970 NE 34th Ave #204 Homestead, FL	3.0	2.0	1176	$1,950	$1.66	26d	1	0.47mi

HOA detail condo

• Monthly dues: $79 · $948/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $269,900 Active 4 DOM
2. 2026-06-18
   remarks 168-char remark
3. 2026-06-18
   listed $269,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,444
• − Mortgage interest: −$15,119
• − Property taxes: −$4,048
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,356
• − Management: −$2,356
• − HOA: −$948
• − Depreciation: −$7,852
• Taxable loss: −$4,583
• Est. tax savings @ 24.0%: +$1,100
• After-tax cash flow: $1,030/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Miami-Dade
• NCES district ID: 1200390
• Math proficiency: 45% ▼ -16.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $43,928
• Composite: 41.76/100
• National rank: #3397
• State rank: #40 of 73 in FL

Livability — Homestead

• Score: 78/100
• State rank: #158
• US rank: #2408

Category grades

Amenities B- Commute A+ Cost of living B Crime C+ Employment C- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homestead, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 191,470
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 71,458
• Household income: $69,635
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 3426.0

Population outlook (Miami-Dade County) Hauer SSP2

• Today (2025): 3,126,439 people
• By 2030: 3,325,765 · +6.4%
• By 2040: 3,697,561 · +18.3%
• By 2050: 4,012,134 · +28.3%
• By 2075: 4,605,612 · +47.3%
• By 2100: 4,866,598 · +55.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (71%)
• Race & ethnicity: Hispanic / Latino 71% Two or more races 28% Black 18% White 9%
• Hispanic origin (detail): Mexican 13% Puerto Rican 6% Cuban 28% Dominican 3%
• Common ancestry: Hispanic 3% Lithuanian 2% Russian 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 32% English-only · Spanish 63% French/Haitian/Cajun 4% Other Indo-European 1%

Political lean MEDSL · Miami-Dade

• 2024 margin: R (+11.4) · D 43.9% · R 55.4%
• 2008→2024 swing: -27.6pp toward R · 2008: 16.1pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: D+7.3 2016: D+29.6 2012: D+23.7 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -179.13%
• Current HPI: 456.2679
• Rent YoY: ▼ -2.93%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+246.0% since first listed

10 events — show timeline

• 2026-06-17 Listed $269,900 MARMLS
• 2016-08-16 Sold (MLS) $125,000 MARMLS
• 2016-07-01 Pending — MARMLS
• 2016-05-20 Price Changed $125,000 MARMLS
• 2016-05-13 Listed $130,000 MARMLS
• 2016-05-01 Listing Removed — MARMLS
• 2016-02-11 Price Changed $125,000 MARMLS
• 2015-12-18 Price Changed $129,000 MARMLS
• 2015-11-11 Listed $135,000 MARMLS
• 2012-07-19 Sold (MLS) $78,000 MARMLS