890 E 52nd St

Hialeah, FL 33013

$415,000C-

2 bd · 1.0 ba · 1,080 sqft · Built 1952 · SingleFamily · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,320/mo
• Mortgage (P&I): −$2,176
• Tax + insurance: −$282
• HOA: −$0
• Vac / Maint / Mgmt: −$697
• Net cashflow: $165/mo
• Annual: $1,975/yr
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• 1% rule: 0.80%
• Cash to close: $116,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $415k.
• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $332k (20.0% below list).
• It's been on market 54 days — a 3% lower offer ($403k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $332k (20.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#288 in FL, #4,774 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+; Watch: amenities F, employment D-.
• 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: Amelia Earhart Elementary School (math 36% / reading 39%, grade F, #1,596 of 2,144 statewide, top 75%, 437 students, 69% FRL); Hialeah Middle School (math 30% / reading 42%, grade F, #410 of 571 statewide, top 72%, 878 students, 68% FRL); Hialeah Senior High School (math 16% / reading 37%, grade F, #489 of 667 statewide, top 74%, 1,732 students, 67% FRL) — zoned schools at 68% FRL track the district average.
• Zoned-school proficiency averages 33% at this address vs 50% district-wide (-16 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-0.1%/yr); 111 active listings in the ZIP; 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.
• 8 sale attempts; this cycle's ask has dropped $35k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $415k implies a 592% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 3.5% in Hialeah — 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

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.