34469 SW 187 Way · Florida City, FL 33034

$170,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured · 56 Days on market

Built 2017 Good condition $687/mo HOA · 25% of rent

---

Why this score? — see what drove the C+ 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 +22.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Fully remodeled 3-bedroom, 2-bath manufactured home in Goldcoaster Mobile Home Park, Florida City. This property stands out with its stucco exterior, giving it the look and feel of a single-family home rather than a typical mobile home. Washer & Dryer. Move-in ready with modern upgrades throughout, offering a functional and comfortable layout filled with natural light. A rare highlight in this community is the ample outdoor space with parking for up to 4 vehicles. Located near shopping, schools, and with easy access to major roads and the Florida Keys. Situated in a land-lease community with current lot rent approximately $687/month (subject to change). No land ownership included. Buy

Key facts

• Ample outdoor space
• Near schools
• Near shopping

Tags

• STUCCO EXTERIOR
• AMPLE OUTDOOR SPACE
• PARKING FOR 4 VEHICLES
• EASY ACCESS TO MAJOR ROADS
• NEAR SHOPPING
• NEAR SCHOOLS

Property features AI

Finance

• Other: Make/Model: SKYLINE
• Financial info: Annual tax amount reported
• HOA & community: Monthly association fee; Community features: Clubhouse, Gated, Maintained community, Pool

Exterior

• Parking: Carport with 2 covered spaces; Driveway
• Security: Gated community
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Facing west; Resale
• Construction: Manufactured construction
• Exterior features: Shed; Community pool

Interior

• Kitchen: Dryer; Dishwasher; Electric range; Microwave; Refrigerator; Washer
• Bedrooms: Includes bedroom on main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Bedroom on main level; First floor entry
• Laundry & utility: Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $170k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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.

Location & tenants

• 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: schools F, crime F, amenities 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.
• Market conditions: Rents soft (-2.9%/yr); 612 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• At $2,730/mo this rent would consume 69% 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.

Forward outlook

• 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.
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $164,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.61% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.43%
• DSCR: 1.33
• GRM: 5.2

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: -9.8%
• Equity multiple: 0.66×
• Total profit: $-16,322
• Equity at exit: $25,348

10-year hold

• IRR: -8.0%
• Equity multiple: 0.60×
• Total profit: $-19,087
• Equity at exit: $14,698

Cash invested: $47,600 (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 33034

• Home prices YoY: -5.9%
• Rents YoY: -2.9%
• Active inventory: 612
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,730 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$687
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $295

Break-even live

Break-even rent $2,357

Max offer price $170,000

Occupancy floor 84%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
48 NW 10th Pl Unit 48 D Florida City, FL	4.0	3.5	1578	$2,940	$1.86	20d	1	0.21mi
58 NW 10th Pl Unit 58 B Florida City, FL	3.0	2.5	1440	$2,695	$1.87	21d	1	0.21mi
122 NW 10th Pl Unit 122 C Florida City, FL	4.0	3.0	1524	$2,785	$1.83	24d	1	0.22mi
152 NW 10th Pl Unit 152 D Florida City, FL	4.0	3.5	1578	$2,940	$1.86	24d	1	0.22mi
142 NW 10th Pl Unit 142 A Florida City, FL	3.0	3.0	1374	$2,570	$1.87	24d	1	0.22mi
132 NW 10th Pl Unit 132 B Florida City, FL	3.0	2.5	1440	$2,695	$1.87	24d	1	0.22mi
199 Redland Rd Unit B5 Homestead, FL	3.0	2.5	1500	$2,650	$1.77	24d	1	0.26mi
199 Redland Rd Unit B5 Homestead, FL	3.0	2.5	1500	$2,650	$1.77	10d	1	0.26mi
821 SW 2nd St Homestead, FL	4.0	3.0	1384	$2,800	$2.02	24d	1	0.33mi
1314 NW 2nd Ln Homestead, FL	4.0	2.0	1810	$3,100	$1.71	7d	1	0.36mi
1314 NW 2nd Ln Homestead, FL	4.0	2.0	1810	$3,100	$1.71	21d	1	0.36mi
1045 NW 4th Ter Unit 1045 Florida City, FL	3.0	3.0	1425	$2,300	$1.61	17d	1	0.39mi
1305 NW 4th Ter Unit 1305 Florida City, FL	4.0	3.0	1600	$3,200	$2.00	13d	1	0.40mi
1262 NW 3rd Ln Homestead, FL	3.0	3.0	1440	$2,650	$1.84	7d	1	0.43mi
1262 NW 3rd Ln Homestead, FL	3.0	3.0	1440	$2,650	$1.84	14d	1	0.43mi
1540 NW 1st St Florida City, FL	3.0	2.5	1615	$2,800	$1.73	7d	1	0.44mi
1073 NW 5th St Unit 1073 Florida City, FL	3.0	3.0	1425	$2,300	$1.61	21d	1	0.45mi
1073 NW 5th St Unit 1073 Florida City, FL	3.0	3.0	1425	$2,500	$1.75	24d	1	0.45mi
1081 NW 5th St Homestead, FL	3.0	2.5	1715	$2,700	$1.57	24d	1	0.45mi
300 10th Ct Unit 300 Florida City, FL	4.0	3.0	1633	$3,200	$1.96	24d	1	0.45mi
1041 NW 5th St Unit 1041 Florida City, FL	3.0	3.0	1425	$2,390	$1.68	24d	1	0.46mi
1041 NW 5th St Unit 1041 Florida City, FL	3.0	3.0	1425	$2,350	$1.65	7d	1	0.46mi
412 NW 12th Pl Homestead, FL	3.0	2.5	1464	$2,299	$1.57	24d	1	0.47mi
639 SW 3rd Ter Homestead, FL	3.0	2.0	1175	$2,850	$2.43	21d	1	0.56mi
902 SW 8th Pl Homestead, FL	3.0	2.5	1469	$2,900	$1.97	24d	1	0.61mi
681 SW 7th St #681 Florida City, FL	3.0	2.5	1600	$2,300	$1.44	21d	1	0.64mi
768 SW 9th St Homestead, FL	3.0	2.0	1099	$2,250	$2.05	24d	1	0.64mi
937 SW 8th Pl Homestead, FL	3.0	2.0	1065	$2,100	$1.97	24d	1	0.64mi
17887 SW 356th St Unit 17887 Homestead, FL	3.0	3.0	1400	$2,350	$1.68	24d	1	0.67mi
17905 SW 356th St Homestead, FL	4.0	2.5	1600	$2,750	$1.72	17d	1	0.67mi
17891 SW 356th St Homestead, FL	3.0	2.5	1414	$2,300	$1.63	3d	1	0.67mi
848 SW 10th St Homestead, FL	3.0	2.0	1053	$2,200	$2.09	2d	1	0.67mi
840 SW 6th Pl Homestead, FL	4.0	2.5	1711	$2,300	$1.34	24d	1	0.69mi
785 SW 6th Pl Unit 1 Homestead, FL	3.0	2.5	1600	$2,200	$1.38	16d	1	0.69mi
825 SW 6th Pl Homestead, FL	3.0	2.5	1527	$2,000	$1.31	24d	1	0.70mi
17938 SW 357th St Homestead, FL	3.0	2.5	1545	$2,500	$1.62	13d	1	0.71mi
17938 SW 357th St Homestead, FL	3.0	2.5	1545	$2,500	$1.62	7d	1	0.71mi
17966 SW 357th St Homestead, FL	3.0	3.0	1330	$2,650	$1.99	10d	1	0.71mi
17958 SW 357th St Homestead, FL	3.0	3.0	1330	$2,650	$1.99	10d	1	0.71mi
17966 SW 357th St Homestead, FL	3.0	3.0	1330	$2,650	$1.99	7d	1	0.71mi

HOA detail

• Monthly dues: $687 · $8,244/yr

Listing history 20 events

1. 2026-06-18
   days on market $170,000 Active 56 DOM
2. 2026-06-17
   days on market $170,000 Active 55 DOM
3. 2026-06-16
   days on market $170,000 Active 54 DOM
4. 2026-06-15
   days on market $170,000 Active 53 DOM
5. 2026-06-13
   days on market $170,000 Active 51 DOM
6. 2026-06-09
   days on market $170,000 Active 47 DOM
7. 2026-06-08
   days on market $170,000 Active 46 DOM
8. 2026-06-07
   days on market $170,000 Active 45 DOM
9. 2026-06-04
   days on market $170,000 Active 42 DOM
10. 2026-06-03
    days on market $170,000 Active 41 DOM
11. 2026-06-02
    days on market $170,000 Active 40 DOM
12. 2026-06-01
    days on market $170,000 Active 39 DOM
13. 2026-05-31
    days on market $170,000 Active 38 DOM
14. 2026-04-23
    listed $170,000 Active
15. 2026-02-24
    historical
16. 2025-11-08
    listed $175,000 Active
17. 2025-11-08
    historical
18. 2025-11-07
    listed $175,000 Active
19. 2024-08-14
    historical
20. 2024-07-18
    listed $155,000 Active

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

Taxation est. · year 1

• Rental income: $32,755
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$2,620
• − Management: −$2,620
• − HOA: −$8,244
• − Depreciation: −$4,945
• Taxable income: $1,402
• Est. tax owed @ 24.0%: −$337
• After-tax cash flow: $3,198/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This fully remodeled 3-bedroom, 2-bath manufactured home in Florida City is in excellent condition with a good condition score of 80. It is move-in ready with modern upgrades and ample outdoor space, making it a great investment opportunity.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both New flooring — Improves aesthetics and functionality
• Both New kitchen appliances — Modernizes the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both New flooring — Improves aesthetics and functionality ↑
• Both New kitchen appliances — Modernizes the space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Florida City

• Score: 65/100
• State rank: #654
• US rank: #13036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami-Dade County · 2,697,751 people
• City population: 23,823
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 23,823
• Household income: $47,170
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 1516.0

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: Majority Hispanic (62%)
• Race & ethnicity: Hispanic / Latino 62% Black 28% Two or more races 24% White 8%
• Hispanic origin (detail): Mexican 20% Puerto Rican 5% Cuban 13% Dominican 2%
• Common ancestry: Hispanic 4%
• Foreign-born: 34% · Canada, Dominican Republic, Guatemala
• Languages at home: 38% English-only · Spanish 56% French/Haitian/Cajun 5%

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: ▼ -32.64%
• Current HPI: 521.6856
• Rent YoY: ▼ -2.85%
• 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

+9.7% since first listed

7 events — show timeline

• 2026-04-23 Listed $170,000 MARMLS
• 2026-02-24 Listing Removed — MARMLS
• 2025-11-08 Listing Removed — MARMLS
• 2025-11-08 Listed $175,000 MARMLS
• 2025-11-07 Listed $175,000 MARMLS
• 2024-08-14 Listing Removed — MARMLS
• 2024-07-18 Listed $155,000 MARMLS