19755 SW 241st Ter

Homestead, FL 33031

$835,000D

4 bd · 2.0 ba · 2,014 sqft · Built 1977 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,084/mo
• Mortgage (P&I): −$4,379
• Tax + insurance: −$1,052
• HOA: −$0
• Vac / Maint / Mgmt: −$1,278
• Net cashflow: $-625/mo
• Annual: $-7,499/yr
• Cap rate: 5.61%
• Cash-on-cash: -2.43%
• DSCR: 0.89
• 1% rule: 0.73%
• Cash to close: $233,800

Investor read

• This is a 4-bed/2.0-bath single-family listed at $835k.
• At list price, monthly cash flow is $-625 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $725k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $608k (27.1% below list).
• It's been on market 27 days — a 2% lower offer ($822k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $608k (27.1% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($6k loan paydown + $15k appreciation (1.8% local appreciation)).
• 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.
• Watch-outs: flood insurance adds $152/mo.
• Market conditions: 126 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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.
• 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 $355k; list at $835k implies a 135% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); 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 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.

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?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.