16432 SW 47th Ter

Kendall West, FL 33185

$560,000D+

3 bd · 2.0 ba · 1,753 sqft · Built 2002 · Townhouse · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,988/mo
• Mortgage (P&I): −$2,937
• Tax + insurance: −$888
• HOA: −$0
• Vac / Maint / Mgmt: −$837
• Net cashflow: $-675/mo
• Annual: $-8,097/yr
• Cap rate: 4.85%
• Cash-on-cash: -5.16%
• DSCR: 0.77
• 1% rule: 0.71%
• Cash to close: $156,800

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $560k.
• At list price, monthly cash flow is $-675 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $441k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $399k (28.8% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $399k (28.8% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($4k loan paydown + $4k appreciation (0.8% local appreciation)).
• Location reads 75/100 on livability (#255 in FL, #4,028 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A-; Watch: 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.
• Zoned schools: Dr. Manuel C. Barreiro Elementary School (math 64% / reading 72%, grade B+, #425 of 2,144 statewide, top 20%, 612 students, 50% FRL); Lamar Louise Curry Middle School (math 51% / reading 63%, grade B, #164 of 571 statewide, top 30%, 804 students, 50% FRL); John A. Ferguson Senior High (math 36% / reading 64%, grade D+, #175 of 667 statewide, top 27%, 4,368 students, 49% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 134 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 3y 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.
• By year 5, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.8% vs local median 3.5% in Kendall West — 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.
• This rent runs 42% of the median local income ($114k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.