3421 NW 176th St

Miami Gardens, FL 33056

$280,000C-

4 bd · 2.0 ba · 1,644 sqft · Built 1956 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,398/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$1,360
• HOA: −$0
• Vac / Maint / Mgmt: −$713
• Net cashflow: $-145/mo
• Annual: $-1,734/yr
• Cap rate: 7.50%
• Cash-on-cash: 4.32%
• DSCR: 1.19
• 1% rule: 1.21%
• Cash to close: $78,400

Investor read

• This is a 4-bed/2.0-bath single-family listed at $280k.
• At list price, monthly cash flow is $-145 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (9.1% below list).
• Meets the 1% rule at list price ($3k rent vs $280k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $254k (9.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#338 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D+, crime D-, 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: Myrtle Grove K-8 Center (math 46% / reading 25%, grade F, #1,684 of 2,144 statewide, top 79%, 296 students, 85% FRL); Carol City Middle School (math 32% / reading 34%, grade F, #437 of 571 statewide, top 77%, 453 students, 76% FRL); Miami Carol City Senior High (math 8% / reading 16%, grade F, #622 of 667 statewide, top 93%, 804 students, 80% FRL) — zoned schools average 80% FRL vs 64% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 50% district-wide (-23 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 3.5% of price; flood insurance adds $427/mo; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.3%/yr); 113 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.
• 11 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.
• Current owner paid $31k; list at $280k implies a 803% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.5% vs local median 3.1% in Miami Gardens — 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 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• Crime grade is D 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?
• 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.