1270 SE 28th Ct #202 · Homestead, FL 33035

$179,000

2 bd · 2.0 ba · 815 sqft · Condo public records · 50 Days on market

Built 2003 $345/mo HOA · 18% of rent

---

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 +10.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0
• Rent growth +1.7/5.0

Listing remarks MLS

Beautiful lake view condo in Venetia Gardens 1! Impeccable condo with new tile floors and fresh paint. Offers high ceilings, walk in closets, breakfast nook overlooking lake, security system & laundry within unit. Very well maintained. Community is fenced with security, and pool access. Low taxes and association!

Key facts

• Walk-in closets
• En-suite bathroom
• $345 HOA

Tags

• WALKING DISTANCE TO PUBLIX
• WASHER AND DRYER IN-UNIT
• EN-SUITE BATHROOM
• WALK-IN CLOSETS

Property features AI

Finance

• Other: Pets allowed with restrictions (conditional)
• HOA & community: Monthly association fee of $345; HOA covers amenities, common area maintenance, structural maintenance, roof, and security; Community pool

Exterior

• Parking: Assigned parking; Guest parking available; One covered space (1-car garage/space)
• Security: Phone entry
• Utilities: Public water and sewer (standard community utilities implied)
• Home design: Attached property; 2 stories; Entry on second floor
• Construction: Block construction; Resale property
• Exterior features: Association pool; Phone entry security; Has a view; No notable exterior features listed

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Second-floor entry; Tile flooring
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $-108 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (10.6% below list).
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $160k (10.6% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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: Gateway Environmental K-8 Learning Center (math 23% / reading 34%, grade F, #1,943 of 2,144 statewide, top 91%, 1,355 students, 74% 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 falling (-3.2%/yr); 466 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 34% of the median local income ($68k/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 $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 50 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $92k; list at $179k implies a 94% 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; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,003 (10.6% 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. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.07% ✓
• Cap rate: 5.57%
• Cash-on-cash: -2.57%
• DSCR: 0.89
• GRM: 7.8

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: -25.0%
• Equity multiple: 0.18×
• Total profit: $-41,197
• Equity at exit: $26,689

10-year hold

• IRR: -40.7%
• Equity multiple: -0.30×
• Total profit: $-65,284
• Equity at exit: $15,477

Cash invested: $50,120 (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 33035

• Home prices YoY: -1.4%
• Rents YoY: -3.2%
• Active inventory: 466
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,913 high
• Mortgage (P&I): −$939
• Tax from tax record: −$260 /mo · $3,122/yr
• Insurance: −$75
• HOA: −$345
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-108

Break-even live

Break-even rent $2,049

Max offer price $160,003

Occupancy floor —

Sensitivity live

Price	-10% $-6	-5% $-57	+0% $-108	+5% $-158	+10% $-209
Rent	-10% $-259	-5% $-183	+0% $-108	+5% $-32	+10% $44
Rate	-1.0pp $-17	-0.5pp $-62	base $-108	+0.5pp $-154	+1.0pp $-201

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1250 SE 29th St Unit 205-58 Homestead, FL	2.0	2.0	815	$1,700	$2.09	22d	1	0.04mi
1251 SE 29th St Unit 105-26 Homestead, FL	2.0	2.0	822	$1,750	$2.13	9d	1	0.04mi
1251 SE 29th St Unit 103-26 Homestead, FL	2.0	2.0	822	$1,800	$2.19	22d	1	0.04mi
1251 SE 29th St Unit 105-26 Homestead, FL	2.0	2.0	822	$1,750	$2.13	26d	1	0.04mi
1271 SE 28th Ct #105 Homestead, FL	2.0	2.0	822	$1,800	$2.19	7d	1	0.06mi
1271 SE 28th Ct Homestead, FL	2.0	2.0	818	$1,775	$2.17	4d	2	0.06mi
1241 SE 29th St Unit 203-27 Homestead, FL	2.0	2.0	815	$1,650	$2.02	22d	1	0.08mi
1271 SE 27th St #101 Homestead, FL	3.0	2.0	1099	$1,915	$1.74	16d	1	0.11mi
1271 SE 27th St #101 Homestead, FL	3.0	2.0	1099	$1,900	$1.73	12d	1	0.11mi
2910 SE 13th Rd Homestead, FL	3.0	2.0	1099	$2,150	$1.96	26d	1	0.11mi
2901 SE 13th Rd Unit 105-41 Homestead, FL	2.0	2.0	822	$1,900	$2.31	26d	1	0.11mi
2901 SE 13th Rd Unit 105-41 Homestead, FL	2.0	2.0	822	$1,850	$2.25	0d	1	0.11mi
2921 SE 13th Ave Unit 106-48 Homestead, FL	3.0	2.0	1099	$1,800	$1.64	26d	1	0.12mi
2911 SE 13th Ave Unit 202-49 Homestead, FL	2.0	2.0	815	$1,650	$2.02	26d	1	0.12mi
2930 SE 13th Ave Unit 202-52 Homestead, FL	2.0	2.0	815	$2,000	$2.45	0d	1	0.12mi
2931 SE 12th Rd Unit 204-55 Homestead, FL	2.0	2.0	815	$1,750	$2.15	26d	1	0.12mi
2701 SE 12th Pl #102 Homestead, FL	2.0	2.0	822	$1,800	$2.19	18d	1	0.12mi
2931 SE 13th Ave Unit 104-47 Homestead, FL	2.0	2.0	822	$1,790	$2.18	26d	1	0.13mi
2931 SE 13th Ave Unit 202-47 Homestead, FL	2.0	2.0	815	$1,750	$2.15	23d	1	0.13mi
2930 SE 12th Rd Unit 204-31 Homestead, FL	2.0	2.0	815	$1,850	$2.27	26d	1	0.15mi
2930 SE 12th Rd Unit 203-31 Homestead, FL	2.0	2.0	815	$1,750	$2.15	26d	1	0.15mi
1260 SE 31st Ct Unit 204-34 Homestead, FL	2.0	2.0	815	$1,700	$2.09	19d	1	0.15mi
1300 SE 31st Ct Unit 201-36 Homestead, FL	3.0	2.0	1024	$2,100	$2.05	26d	1	0.16mi
1300 SE 31st Ct Unit 201-36 Homestead, FL	3.0	2.0	1024	$2,000	$1.95	12d	1	0.16mi
2921 SE 13th Rd Unit 104-39 Homestead, FL	2.0	2.0	822	$1,790	$2.18	9d	1	0.16mi
2921 SE 13th Rd Unit 104-39 Homestead, FL	2.0	2.0	822	$1,790	$2.18	5d	1	0.16mi
1250 SE 26th St #204 Homestead, FL	2.0	2.0	815	$1,875	$2.30	26d	1	0.22mi
2528 SE 14th Ave Homestead, FL	1.0	1.0	775	$3,000	$3.87	7d	1	0.25mi
1539 SE 27th St #107 Homestead, FL	3.0	2.0	1060	$2,000	$1.89	0d	1	0.33mi
1539 SE 27th St #201 Homestead, FL	2.0	2.0	930	$1,700	$1.83	19d	1	0.33mi
1539 SE 27th St #201 Homestead, FL	2.0	2.0	930	$1,700	$1.83	26d	1	0.33mi
2755 SE 16th Ave Homestead, FL	3.0	2.0	1076	$1,900	$1.77	26d	1	0.33mi
2755 SE 16th Ave #103 Homestead, FL	3.0	2.0	1060	$2,000	$1.89	26d	1	0.33mi
2735 SE 16th Ave #100 Homestead, FL	3.0	2.0	1060	$1,790	$1.69	26d	1	0.34mi
1658 SE 28th Ct #200 Homestead, FL	3.0	2.0	1076	$2,500	$2.32	26d	1	0.34mi
1661 SE 29th Ct Homestead, FL	3.0	2.0	1076	$2,025	$1.88	18d	2	0.35mi
1666 SE 27th Ct Homestead, FL	3.0	2.0	1113	$1,800	$1.62	16d	2	0.35mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	26d	1	0.36mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	9d	1	0.36mi
1568 SE 26th St Homestead, FL	2.0	2.0	903	$1,800	$1.99	3d	1	0.37mi

HOA detail condo

• Monthly dues: $345 · $4,140/yr
• Likely covers: cablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-04-29
   status Pending
2. 2026-04-21
   price $179,000
3. 2026-03-11
   listed $190,000 Active
4. 2024-01-29
   historical $1,900
5. 2023-12-08
   listed $1,900
6. 2017-02-08
   soldstatus $92,500 Sold 320-char remark

   Show marketing remark (320 chars)

   Beautiful lake view condo in Venetia Gardens 1! Impeccable condo with new tile floors and fresh paint. Offers high ceilings, walk in closets, breakfast nook overlooking lake, security system & laundry within unit. Very well maintained. Community is fenced with security, and pool access. Low taxes and association!

7. 2017-02-06
   soldstatus $92,500
8. 2016-12-29
   status Pending 320-char remark

   Show marketing remark (320 chars)

   Beautiful lake view condo in Venetia Gardens 1! Impeccable condo with new tile floors and fresh paint. Offers high ceilings, walk in closets, breakfast nook overlooking lake, security system & laundry within unit. Very well maintained. Community is fenced with security, and pool access. Low taxes and association!

9. 2016-11-21
   historical

   Show marketing remark (320 chars)

   Beautiful lake view condo in Venetia Gardens 1! Impeccable condo with new tile floors and fresh paint. Offers high ceilings, walk in closets, breakfast nook overlooking lake, security system & laundry within unit. Very well maintained. Community is fenced with security, and pool access. Low taxes and association!

10. 2016-11-21
    listed $100,000 Active 320-char remark

    Show marketing remark (320 chars)

    Beautiful lake view condo in Venetia Gardens 1! Impeccable condo with new tile floors and fresh paint. Offers high ceilings, walk in closets, breakfast nook overlooking lake, security system & laundry within unit. Very well maintained. Community is fenced with security, and pool access. Low taxes and association!

11. 2016-10-21
    listed $110,000 Active
12. 2013-12-09
    historical
13. 2013-11-05
    price $75,000
14. 2013-09-05
    listed $72,000 Active
15. 2013-03-13
    soldstatus $35,000
16. 2013-03-06
    soldstatus $35,000

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $3,122 · $260/mo
• Projected year-2 tax: $3,122 · $260/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 52% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 31 d/yr by 30 yrs out
• 💨 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: $22,951
• − Mortgage interest: −$10,027
• − Property taxes: −$3,122
• − Insurance: −$895
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − HOA: −$4,140
• − Depreciation: −$5,207
• Taxable loss: −$4,113
• Est. tax savings @ 24.0%: +$987
• After-tax cash flow: $-303/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): 17,202
• Household income: $68,354
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 687.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 35% Black 18% White 12%
• Hispanic origin (detail): Mexican 6% Puerto Rican 13% Cuban 25% Dominican 2% Salvadoran 1%
• Common ancestry: Hispanic 6% Lithuanian 3% Estonian 1%
• Foreign-born: 33% · Canada, Dominican Republic, Jamaica
• Languages at home: 32% English-only · Spanish 60% French/Haitian/Cajun 7% 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: ▼ -5.24%
• Current HPI: 369.3031
• Rent YoY: ▼ -3.20%
• 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

+411.4% since first listed

16 events — show timeline

• 2026-04-29 Pending — MARMLS
• 2026-04-21 Price Changed $179,000 MARMLS
• 2026-03-11 Listed $190,000 MARMLS
• 2024-01-29 Rental Removed $1,900 MARMLS
• 2023-12-08 Listed for Rent $1,900 MARMLS
• 2017-02-08 Sold (MLS) $92,500 MARMLS
• 2017-02-06 Sold (Public Records) $92,500 Public Records
• 2016-12-29 Pending — MARMLS
• 2016-11-21 Listing Removed — MARMLS
• 2016-11-21 Listed $100,000 MARMLS
• 2016-10-21 Listed $110,000 MARMLS
• 2013-12-09 Listing Removed — MARMLS
• 2013-11-05 Price Changed $75,000 MARMLS
• 2013-09-05 Listed $72,000 MARMLS
• 2013-03-13 Sold (MLS) $35,000 MARMLS
• 2013-03-06 Sold (Public Records) $35,000 Public Records

Property tax history

+14.3%/yr

Latest (2025): $3,122 · +5.7% YoY. Source: county tax records.