901 SW 6th Ct

Florida City, FL 33034

$309,999D

4 bd · 2.0 ba · 1,711 sqft · Built 2006 · Townhouse · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,684/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$502
• HOA: −$0
• Vac / Maint / Mgmt: −$564
• Net cashflow: $-7/mo
• Annual: $-80/yr
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• 1% rule: 0.87%
• Cash to close: $86,800

Investor read

• This is a 4-bed/2.0-bath townhouse listed at $310k.
• At list price, monthly cash flow is $-7 ($-80/yr) — negative.
• To cash-flow at today's rent, offer at most $309k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (13.4% below list).
• It's been on market 30 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $268k (13.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#654 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F, employment 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: Florida City Elementary School (math 23% / reading 34%, grade F, #1,943 of 2,144 statewide, top 91%, 608 students, 82% FRL); Homestead Middle School (math 23% / reading 25%, grade F, #532 of 571 statewide, top 94%, 666 students, 81% 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 25% at this address vs 50% district-wide (-24 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); 617 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).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 14y 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 $150k; list at $310k implies a 107% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 4.2% in Florida City — 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 $2,684/mo this rent would consume 68% of the median local household income ($47k/yr) (locally 1516% of renters already pay >50% of income on rent) — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.