35250 SW 177 Ct. #26 · Florida City, FL 33034

$225,000

3 bd · 2.0 ba · 1,430 sqft · Condo public records · 118 Days on market

Built 1993 $150/mo HOA · 6% of rent

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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 +27.0/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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

Back on the Market, Turn Key Gem, 30 minutes from the Florida Keys, 4,325 sq ft lot with waterfront! This 1993 double-wide mobile home in the sought-after Gateway Estates community is ready for a new owner. The house has been well-maintained by the current owners. It offers a 3/2 layout with comfortable rooms, bathrooms, and a great room, as well as a magnificent lakefront view and an enclosed sunroom, all within a gated community with easy access to the Florida Keys and Miami. low HOA fees, and you own the land. Sellers motivated.

Key facts

• Gated community
• Enclosed sunroom
• Lakefront view

Tags

• WATERFRONT
• LAKEFRONT VIEW
• ENCLOSED SUNROOM
• GATED COMMUNITY
• EASY ACCESS TO FLORIDA KEYS

Property features AI

Finance

• Other: Community pool
• HOA & community: Monthly association fee of $150; Community clubhouse; Gated community amenities

Exterior

• Parking: 2-car garage; Guest parking
• Security: Gated community
• Utilities: Public water; Public sewer
• Home design: Single-story home; Faces southwest; Has a view; Mobile home model: GATEWAY ESTA
• Construction: Aluminum siding; Year built: Unknown
• Exterior features: Fenced yard; Community pool

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Includes a third bedroom
• Flooring: Hardwood; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: First-floor entry; Main-level primary suite; Florida room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $205k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 $2,656/mo this rent would consume 68% 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 $2k of loan paydown is wiped out by about $7k 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 118 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $44k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $225k implies a 350% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 8→35/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.04%
• DSCR: 1.54
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-13,602
• Equity at exit: $33,548

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-2,252
• Equity at exit: $19,454

Cash invested: $63,000 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,656 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$43 /mo · $514/yr
• Insurance: −$94
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$150
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $480

Break-even live

Break-even rent $2,049

Max offer price $225,000

Occupancy floor 77%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
175 SW 7th St Florida City, FL	2.0–3.0	2.0	945	$2,225	$2.35	22d	1	0.11mi
82 SW 3rd Ct Florida City, FL	3.0	2.0	1275	$2,950	$2.31	8d	1	0.12mi
82 SW 3rd Ct Florida City, FL	3.0	2.0	1275	$2,950	$2.31	14d	1	0.12mi
582 SW 2nd Pl Homestead, FL	3.0	2.0	1276	$2,500	$1.96	24d	1	0.19mi
35303 SW 180th Ave #391 Homestead, FL	2.0	2.0	1170	$2,150	$1.84	24d	1	0.25mi
17854 SW 358th St Homestead, FL	3.0	2.5	1414	$2,400	$1.70	24d	1	0.39mi
17904 SW 358th St Homestead, FL	3.0	2.5	1450	$1,285	$0.89	5d	1	0.41mi
17920 SW 358th St Unit 17920 Homestead, FL	3.0	2.5	1504	$2,350	$1.56	20d	1	0.42mi
17920 SW 358th St Unit 17920 Homestead, FL	3.0	2.5	1504	$2,350	$1.56	3d	1	0.42mi
17851 SW 359 Ter Unit 17851 Homestead, FL	3.0	2.5	1326	$2,700	$2.04	24d	1	0.45mi
17854 SW 359th Ter Homestead, FL	3.0	2.5	1827	$2,700	$1.48	24d	1	0.47mi
409 SW 1st St Unit 1 Florida City, FL	4.0	3.0	1436	$2,500	$1.74	24d	1	0.52mi
400 SW 1st St Unit 1 Florida City, FL	4.0	3.0	1436	$2,657	$1.85	24d	1	0.53mi
617 SW 11th St Homestead, FL	3.0	2.5	1466	$2,890	$1.97	24d	1	0.53mi
617 SW 11th St Homestead, FL	3.0	2.5	1466	$3,000	$2.05	2d	1	0.53mi
17982 SW 359th Ter Homestead, FL	3.0	2.5	1410	$2,890	$2.05	14d	1	0.53mi
785 SW 6th Pl Unit 1 Homestead, FL	3.0	2.5	1600	$2,200	$1.38	17d	1	0.54mi
825 SW 6th Pl Homestead, FL	3.0	2.5	1527	$2,000	$1.31	24d	1	0.54mi
875 SW 6th Pl Unit TH Homestead, FL	3.0	2.5	1527	$2,250	$1.47	24d	1	0.55mi
681 SW 7th St #681 Florida City, FL	3.0	2.5	1600	$2,300	$1.44	22d	1	0.56mi
840 SW 6th Pl Homestead, FL	4.0	2.5	1711	$2,300	$1.34	24d	1	0.57mi
1156 SW 6th Ct Unit 1156 Florida City, FL	3.0	2.5	1466	$2,450	$1.67	24d	1	0.59mi
639 SW 3rd Ter Homestead, FL	3.0	2.0	1175	$2,850	$2.43	22d	1	0.59mi
687 SW 10th St Homestead, FL	4.0	2.5	1799	$2,200	$1.22	22d	1	0.60mi
721 SW 11th St Homestead, FL	3.0	2.5	1466	$2,400	$1.64	11d	1	0.66mi
721 SW 11th St Homestead, FL	3.0	2.5	1466	$2,400	$1.64	14d	1	0.66mi
768 SW 9th St Homestead, FL	3.0	2.0	1099	$2,250	$2.05	24d	1	0.67mi
322 NE 1st Ave Unit 1 Florida City, FL	3.0	3.0	1376	$1,700	$1.24	24d	1	0.69mi
1161 SW 7th Ct Homestead, FL	4.0	2.5	1530	$3,450	$2.25	24d	1	0.69mi
326 NE 1st Ave Unit 326 Florida City, FL	3.0	3.0	1376	$2,500	$1.82	24d	1	0.69mi
1116 SW 7th Ct Homestead, FL	3.0	2.5	1466	$2,600	$1.77	24d	1	0.70mi
1116 SW 7th Ct Homestead, FL	3.0	2.5	1466	$2,400	$1.64	2d	1	0.70mi
1181 SW 7th Ct Unit 1181 Florida City, FL	3.0	2.5	1466	$2,750	$1.88	24d	1	0.70mi
1170 SW 7th Ct #1170 Florida City, FL	3.0	2.5	1466	$2,500	$1.71	24d	1	0.71mi
408 NE 1st Dr Florida City, FL	3.0	3.0	1376	$2,700	$1.96	17d	1	0.73mi
377 NE 1st Dr Florida City, FL	3.0	2.5	1433	$2,800	$1.95	14d	1	0.74mi
334 NE 1st St Unit 334 Florida City, FL	3.0	2.5	1433	$2,800	$1.95	24d	1	0.75mi
848 SW 10th St Homestead, FL	3.0	2.0	1053	$2,200	$2.09	3d	1	0.75mi
937 SW 8th Pl Homestead, FL	3.0	2.0	1065	$2,100	$1.97	24d	1	0.76mi
377 NE 1st Ave Florida City, FL	3.0	2.5	1433	$2,800	$1.95	13d	1	0.76mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-07
   statusdays on market $225,000 Pending 118 DOM
2. 2026-06-04
   days on market $225,000 Active 117 DOM
3. 2026-06-03
   days on market $225,000 Active 116 DOM
4. 2026-06-02
   days on market $225,000 Active 115 DOM
5. 2026-06-01
   days on market $225,000 Active 114 DOM
6. 2026-05-31
   days on market $225,000 Active 113 DOM
7. 2026-05-15
   status Pending
8. 2026-05-06
   price $229,000
9. 2026-04-21
   price $239,500
10. 2026-01-26
    listed $269,000 Active
11. 2025-11-14
    historical
12. 2025-08-26
    price $264,000
13. 2025-07-09
    listed $270,000 Active
14. 2020-10-06
    historical
15. 2020-09-25
    listed $179,000 Active
16. 2008-12-10
    soldstatus $50,000
17. 1993-06-16
    soldstatus $15,000
18. 1976-01-01
    soldstatus $9,400

ⓘ 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: $514 · $43/mo
• Projected year-2 tax: $1,868 · $156/mo
• Expected delta: +$1,353/yr (+$113/mo · 263.2%)

ⓘ 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 · 54% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥108°F today · 35 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,875
• − Mortgage interest: −$12,603
• − Property taxes: −$514
• − Insurance: −$2,950
• − Repairs & maintenance: −$2,550
• − Management: −$2,550
• − HOA: −$1,800
• − Depreciation: −$6,545
• Taxable income: $2,362
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $5,191/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

• 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

+2336.2% since first listed

12 events — show timeline

• 2026-05-15 Pending — MARMLS
• 2026-05-06 Price Changed $229,000 MARMLS
• 2026-04-21 Price Changed $239,500 MARMLS
• 2026-01-26 Listed $269,000 MARMLS
• 2025-11-14 Listing Removed — MARMLS
• 2025-08-26 Price Changed $264,000 MARMLS
• 2025-07-09 Listed $270,000 MARMLS
• 2020-10-06 Listing Removed — MARMLS
• 2020-09-25 Listed $179,000 MARMLS
• 2008-12-10 Sold (Public Records) $50,000 Public Records
• 1993-06-16 Sold (Public Records) $15,000 Public Records
• 1976-01-01 Sold (Public Records) $9,400 Public Records

Property tax history

-5.1%/yr

Latest (2025): $514 · +2.4% YoY. Source: county tax records.