493 NE 5th Pl · Florida City, FL 33034

$200,000

3 bd · 2.0 ba · 1,512 sqft · Townhouse public records · 189 Days on market

Built 2021 1,166 sqft lot ↓ 45% since listing

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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 +24.0/30.0
• 1% rule +9.3/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Short Sale! Please contact listing agent for more info.

Key facts

• 1,166 sq ft lot
• 2 parking spots
• Built 2021

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 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).
• At $2,852/mo this rent would consume 73% 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 $6k 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 189 days — a 12% lower offer ($176k) 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: property tax is 4.4% of price; flood insurance adds $152/mo.
• 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 5→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 1.43% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.36%
• DSCR: 1.37
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $432,432
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
371 NE 16 St	0.63mi	3/2.5	1,456 (-4%)	4mo	$394,000	$271	59
515 NE 13 St	0.46mi	3/3.0	1,380 (-9%)	18mo	$399,000	$289	45
511 NE 13 St	0.46mi	3/3.0	1,380 (-9%)	18mo	$395,000	$286	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -13.0%
• Equity multiple: 0.55×
• Total profit: $-25,169
• Equity at exit: $29,821

10-year hold

• IRR: -12.3%
• Equity multiple: 0.41×
• Total profit: $-32,933
• Equity at exit: $17,292

Cash invested: $56,000 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,852 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$731 /mo · $8,767/yr
• Insurance: −$83
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $238

Break-even live

Break-even rent $2,550

Max offer price $200,000

Occupancy floor 87%

Sensitivity live

Price	-10% $351	-5% $295	+0% $238	+5% $181	+10% $125
Rent	-10% $13	-5% $125	+0% $238	+5% $351	+10% $463
Rate	-1.0pp $339	-0.5pp $289	base $238	+0.5pp $186	+1.0pp $134

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
541 NE 4th Ln Florida City, FL	3.0	3.0	1272	$2,400	$1.89	25d	1	0.05mi
487 NE 5th St Florida City, FL	3.0	3.0	1272	$2,550	$2.00	22d	1	0.07mi
496 NE 5th St Unit 496 Florida City, FL	2.0	2.5	1208	$2,250	$1.86	11d	1	0.07mi
496 NE 5th St Unit 496 Florida City, FL	2.0	2.5	1208	$2,250	$1.86	8d	1	0.07mi
441 NE 5th St Florida City, FL	3.0	3.0	1272	$2,500	$1.97	22d	1	0.10mi
424 NE 4th Ave #424 Florida City, FL	3.0	2.0	1315	$3,000	$2.28	25d	1	0.13mi
525 NE 6th Pl Florida City, FL	4.0	3.0	2126	$3,600	$1.69	25d	1	0.13mi
540 NE 5th Ln Florida City, FL	2.0	2.5	1208	$2,200	$1.82	17d	1	0.15mi
648 NE 5th Way Florida City, FL	3.0	2.0	1521	$3,300	$2.17	25d	1	0.16mi
1783 SE 7th Ter Homestead, FL	4.0	3.0	1757	$3,100	$1.76	18d	1	0.17mi
1783 SE 7th Ter Homestead, FL	4.0	3.0	1757	$3,100	$1.76	25d	1	0.17mi
779 SE 18th St Unit 779 Florida City, FL	3.0	2.5	1628	$2,985	$1.83	25d	1	0.18mi
791 SE 18th St Unit 791 Homestead, FL	3.0	2.5	1712	$3,200	$1.87	11d	1	0.19mi
791 SE 18th St Unit 791 Homestead, FL	3.0	2.5	1712	$3,200	$1.87	5d	1	0.19mi
784 SE 19th St #784 Florida City, FL	3.0	2.5	1712	$2,895	$1.69	25d	1	0.20mi
643 SE 15th St Homestead, FL	3.0	2.5	1642	$2,850	$1.74	12d	1	0.20mi
643 SE 15th St Homestead, FL	3.0	2.5	1642	$2,800	$1.71	2d	1	0.20mi
804 SE 18th St Homestead, FL	4.0	3.0	1757	$3,100	$1.76	11d	1	0.20mi
804 SE 18th St Unit 804 Homestead, FL	4.0	3.0	1757	$3,100	$1.76	18d	1	0.20mi
805 SE 18th St Unit 805 Homestead, FL	3.0	2.5	1628	$2,900	$1.78	25d	1	0.21mi
656 SE 14th Ct Homestead, FL	3.0	3.5	1746	$2,600	$1.49	25d	1	0.22mi
818 SE 17th St Homestead, FL	3.0	3.0	1712	$2,900	$1.69	25d	1	0.24mi
639 SE 14th Ct Homestead, FL	3.0	3.5	2106	$3,177	$1.51	25d	1	0.24mi
728 SE 14th Ct Homestead, FL	3.0	3.5	1694	$3,200	$1.89	25d	1	0.27mi
235 NE 3rd Ct Florida City, FL	3.0	3.0	1376	$2,800	$2.03	4d	1	0.29mi
235 NE 3rd Ct Florida City, FL	3.0	3.0	1376	$2,800	$2.03	25d	1	0.29mi
621 SE 13th Street Cir Unit 1 Homestead, FL	3.0	3.5	1694	$2,500	$1.48	25d	1	0.30mi
621 SE 13th Street Cir Unit 1 Homestead, FL	3.0	3.5	1694	$2,500	$1.48	8d	1	0.30mi
1427 SE 7th Ter Unit 1427 Homestead, FL	3.0	2.5	1642	$2,750	$1.67	25d	1	0.31mi
441 NE 1st St Florida City, FL	3.0	3.0	1376	$2,300	$1.67	6d	1	0.31mi
529 NE 1st Dr Florida City, FL	3.0	3.0	1376	$3,000	$2.18	3d	1	0.31mi
529 NE 1st Dr Florida City, FL	3.0	3.0	1376	$3,000	$2.18	25d	1	0.31mi
334 NE 1st St Unit 334 Florida City, FL	3.0	2.5	1433	$2,800	$1.95	25d	1	0.31mi
631 SE 13th Street Cir Homestead, FL	4.0	3.5	1850	$3,200	$1.73	25d	1	0.32mi
708 SE 13th Ct Homestead, FL	3.0	3.5	1694	$2,700	$1.59	6d	1	0.33mi
708 SE 13th Ct Homestead, FL	3.0	3.5	1694	$2,700	$1.59	25d	1	0.33mi
1921 SE 8th Pl Homestead, FL	3.0	3.0	1483	$3,100	$2.09	25d	1	0.33mi
377 NE 1st Dr Florida City, FL	3.0	2.5	1433	$2,800	$1.95	14d	1	0.33mi
1780 SE 9th Ave Florida City, FL	3.0	2.5	1542	$2,700	$1.75	3d	1	0.33mi
1780 SE 9th Ave Florida City, FL	3.0	2.5	1542	$2,500	$1.62	2d	1	0.33mi

Listing history 13 events

1. 2026-04-23
   status Pending
2. 2025-10-16
   historical Active Under Contract
3. 2025-10-16
   listed $200,000 Active
4. 2025-05-30
   historical
5. 2025-04-09
   status Active
6. 2025-03-06
   historical Active Under Contract
7. 2025-03-03
   listed $329,000 Active
8. 2025-02-28
   historical
9. 2025-01-29
   price $329,000
10. 2025-01-03
    price $339,000
11. 2024-11-25
    price $349,000
12. 2024-11-05
    price $355,000
13. 2024-10-09
    listed $365,000 Active

ⓘ 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: $8,767 · $731/mo
• Projected year-2 tax: $8,767 · $731/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 AH · 52% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 5 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,221
• − Mortgage interest: −$11,203
• − Property taxes: −$8,767
• − Insurance: −$2,824
• − Repairs & maintenance: −$2,738
• − Management: −$2,738
• − Depreciation: −$5,818
• Taxable income: $133
• Est. tax owed @ 24.0%: −$32
• After-tax cash flow: $2,825/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 — 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

• Census place: Florida City, FL
• 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

-45.2% since first listed

13 events — show timeline

• 2026-04-23 Pending — MARMLS
• 2025-10-16 Contingent — MARMLS
• 2025-10-16 Listed $200,000 MARMLS
• 2025-05-30 Listing Removed — MARMLS
• 2025-04-09 Relisted — MARMLS
• 2025-03-06 Contingent — MARMLS
• 2025-03-03 Listed $329,000 MARMLS
• 2025-02-28 Listing Removed — MARMLS
• 2025-01-29 Price Changed $329,000 MARMLS
• 2025-01-03 Price Changed $339,000 MARMLS
• 2024-11-25 Price Changed $349,000 MARMLS
• 2024-11-05 Price Changed $355,000 MARMLS
• 2024-10-09 Listed $365,000 MARMLS

Property tax history

+30.4%/yr

Latest (2025): $8,767 · +1.2% YoY. Source: county tax records.