1071 Adams Ave Unit 1071K · Homestead, FL 33034

$210,000

2 bd · 2.0 ba · 970 sqft · Condo public records · 208 Days on market

Built 1986 $18/mo HOA · 1% 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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.8/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very well maintained first floor, corner unit in quiet Lakeshore gated community.   Large living room and master bedroom with lots of natural light.  Lake view from master bedroom and screened-in porch. Spacious kitchen with in-unit laundry.   Freshly Painted.  Assigned parking space in front of unit and plenty of guest parking. Private storage closet.  Safety patrol and guard house 24/7. Great for investors, can be rented immediately at $1100.

Key facts

• $18 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/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 $207k (1.6% below list).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.5% in Homestead — 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 78/100 on livability (#158 in FL, #2,408 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-.
• 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 24d 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 $2,065/mo this rent would consume 53% 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 208 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $63k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→34/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 208 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.98% ✗
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 8.5

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: -8.9%
• Equity multiple: 0.68×
• Total profit: $-18,658
• Equity at exit: $31,312

10-year hold

• IRR: -3.6%
• Equity multiple: 0.79×
• Total profit: $-12,234
• Equity at exit: $18,157

Cash invested: $58,800 (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: 8.5×

Monthly cashflow live

• Estimated rent: $2,065 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$87 /mo · $1,050/yr
• Insurance: −$88
• HOA: −$18
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $337

Break-even live

Break-even rent $1,638

Max offer price $210,000

Occupancy floor 79%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1071 Adams Ave Unit 1071F Homestead, FL	1.0	1.0	685	$1,650	$2.41	24d	1	0.02mi
1022 Adams Ave Unit 1022C Homestead, FL	2.0	2.0	960	$2,150	$2.24	10d	1	0.05mi
1002 Adams Ave Unit 1002D Homestead, FL	2.0	1.5	863	$1,750	$2.03	24d	1	0.08mi
1017 Washington Cir Unit 1017D Homestead, FL	2.0	1.5	863	$1,800	$2.09	16d	1	0.10mi
980 Constitution Dr Unit 980F Homestead, FL	2.0	2.0	685	$2,100	$3.07	24d	1	0.11mi
980 Constitution Dr Homestead, FL	2.0	1.5	960	$2,200	$2.29	22d	1	0.11mi
1024 S Independence Dr Homestead, FL	3.0	2.0	970	$2,100	$2.16	24d	1	0.12mi
820 N Franklin Ave Unit 820I Homestead, FL	2.0	1.5	863	$1,850	$2.14	20d	1	0.12mi
1100 Constitution Dr Unit 1100C Homestead, FL	2.0	2.0	960	$1,700	$1.77	15d	1	0.13mi
910 Constitution Dr Unit 910C Homestead, FL	2.0	2.0	960	$1,750	$1.82	24d	1	0.14mi
1280 S Franklin Ave Unit 1280F Homestead, FL	2.0	2.0	970	$2,100	$2.16	20d	1	0.15mi
1139 Independence Trl Unit 1139F Homestead, FL	2.0	1.5	863	$1,750	$2.03	15d	1	0.17mi
1126 SE 13th Ter Homestead, FL	2.0	2.0	952	$2,400	$2.52	2d	1	0.18mi
1126 SE 13th Ter Homestead, FL	2.0	2.0	952	$2,400	$2.52	10d	1	0.18mi
1301 S Franklin Ave Unit 1301F Homestead, FL	1.0	1.0	685	$1,500	$2.19	24d	1	0.19mi
802 Constitution Dr Unit 802B Homestead, FL	2.0	2.0	970	$1,800	$1.86	15d	1	0.20mi
800 Independence Dr Unit 800F Homestead, FL	2.0	2.0	960	$2,099	$2.19	19d	1	0.21mi
800 Independence Dr Unit 800I Homestead, FL	2.0	1.5	863	$1,900	$2.20	24d	1	0.21mi
800 Independence Dr Unit 800L Homestead, FL	2.0	2.0	970	$2,000	$2.06	24d	1	0.21mi
1151 N Liberty Ave Unit 1151F Homestead, FL	1.0	1.0	685	$1,700	$2.48	15d	1	0.22mi
1150 N Liberty Ave Unit 1150H Homestead, FL	1.0	1.0	685	$1,650	$2.41	22d	1	0.24mi
800 Independence Dr Homestead, FL	2.0	2.0	970	$2,100	$2.16	24d	1	0.25mi
1362 Pelican Ct Homestead, FL	2.0	2.0	999	$2,600	$2.60	24d	1	0.25mi
1361 Sandpiper Blvd Homestead, FL	2.0	1.5	1060	$1,900	$1.79	24d	1	0.29mi
1210 San Remo Cir Homestead, FL	3.0	2.0	1125	$2,300	$2.04	18d	1	0.35mi
1408 San Remo Cir Homestead, FL	3.0	2.0	1125	$2,400	$2.13	24d	1	0.36mi
1511 San Remo Cir Unit 1511 Homestead, FL	3.0	2.0	1125	$2,300	$2.04	7d	1	0.41mi
3214 San Remo Cir Homestead, FL	2.0	2.0	951	$2,000	$2.10	24d	1	0.46mi
2915 San Remo Cir Homestead, FL	2.0	2.0	951	$2,200	$2.31	24d	1	0.47mi
2901 San Remo Cir Homestead, FL	2.0	2.0	951	$2,000	$2.10	16d	1	0.49mi
31 NE 13th Ave #5 Homestead, FL	2.0	2.0	919	$2,000	$2.18	10d	1	0.75mi
1250 SE 26th St #204 Homestead, FL	2.0	2.0	815	$1,875	$2.30	24d	1	0.97mi
1543 SE 25th St #100 Homestead, FL	3.0	2.0	1060	$2,300	$2.17	19d	1	1.01mi
1543 SE 25th St Homestead, FL	3.0	2.0	1121	$2,125	$1.90	24d	2	1.01mi
1536 SE 25th St #206 Homestead, FL	2.0	2.0	930	$1,780	$1.91	24d	1	1.01mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	7d	1	1.04mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	24d	1	1.04mi
2524 SE 16th Rd #100 Homestead, FL	3.0	2.0	1060	$2,150	$2.03	24d	1	1.04mi
2528 SE 14th Ave Homestead, FL	1.0	1.0	775	$3,000	$3.87	5d	1	1.04mi
2551 SE 16th Ter #109 Homestead, FL	3.0	2.0	1060	$1,850	$1.75	24d	1	1.06mi

HOA detail condo

• Monthly dues: $18 · $216/yr
• Likely covers: securityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2025-07-18
   soldstatus $210,000
2. 2025-06-16
   status Pending
3. 2025-06-16
   status Active
4. 2025-06-15
   historical
5. 2025-05-30
   price $210,000
6. 2025-03-17
   price $230,000
7. 2025-02-14
   price $242,000
8. 2024-12-13
   price $250,000
9. 2024-12-02
   price $260,000
10. 2024-11-18
    listed $273,000 Active
11. 2017-07-27
    soldstatus $105,000
12. 2017-07-24
    soldstatus $105,000 Sold 518-char remark

    Show marketing remark (518 chars)

    Very well maintained first floor, corner unit in quiet Lakeshore gated community.   Large living room and master bedroom with lots of natural light.  Lake view from master bedroom and screened-in porch. Spacious kitchen with in-unit laundry.   Freshly Painted.  Assigned parking space in front of unit and plenty of guest parking. Private storage closet.  Safety patrol and guard house 24/7. Great for investors, can be rented immediately at $1100.

13. 2017-06-27
    status Pending 518-char remark

    Show marketing remark (518 chars)

    Very well maintained first floor, corner unit in quiet Lakeshore gated community.   Large living room and master bedroom with lots of natural light.  Lake view from master bedroom and screened-in porch. Spacious kitchen with in-unit laundry.   Freshly Painted.  Assigned parking space in front of unit and plenty of guest parking. Private storage closet.  Safety patrol and guard house 24/7. Great for investors, can be rented immediately at $1100.

14. 2017-05-19
    listed $105,000 Active 518-char remark

    Show marketing remark (518 chars)

    Very well maintained first floor, corner unit in quiet Lakeshore gated community.   Large living room and master bedroom with lots of natural light.  Lake view from master bedroom and screened-in porch. Spacious kitchen with in-unit laundry.   Freshly Painted.  Assigned parking space in front of unit and plenty of guest parking. Private storage closet.  Safety patrol and guard house 24/7. Great for investors, can be rented immediately at $1100.

15. 2007-05-10
    soldstatus $130,000
16. 2007-05-10
    soldstatus $165,000
17. 2005-07-06
    soldstatus $121,000
18. 1998-06-04
    soldstatus $42,900
19. 1986-04-01
    soldstatus $56,000

ⓘ 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: $1,050 · $87/mo
• Projected year-2 tax: $1,743 · $145/mo
• Expected delta: +$693/yr (+$58/mo · 66.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 34 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: $24,785
• − Mortgage interest: −$11,763
• − Property taxes: −$1,050
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,983
• − Management: −$1,983
• − HOA: −$216
• − Depreciation: −$6,109
• Taxable income: $631
• Est. tax owed @ 24.0%: −$151
• After-tax cash flow: $3,897/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 — Homestead

• Score: 78/100
• State rank: #158
• US rank: #2408

Category grades

Amenities B- Commute A+ Cost of living B Crime C+ Employment C- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homestead, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 191,470
• 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

+275.0% since first listed

19 events — show timeline

• 2025-07-18 Sold (Public Records) $210,000 Public Records
• 2025-06-16 Pending — MARMLS
• 2025-06-16 Relisted — MARMLS
• 2025-06-15 Listing Removed — MARMLS
• 2025-05-30 Price Changed $210,000 MARMLS
• 2025-03-17 Price Changed $230,000 MARMLS
• 2025-02-14 Price Changed $242,000 MARMLS
• 2024-12-13 Price Changed $250,000 MARMLS
• 2024-12-02 Price Changed $260,000 MARMLS
• 2024-11-18 Listed $273,000 MARMLS
• 2017-07-27 Sold (Public Records) $105,000 Public Records
• 2017-07-24 Sold (MLS) $105,000 MARMLS
• 2017-06-27 Pending — MARMLS
• 2017-05-19 Listed $105,000 MARMLS
• 2007-05-10 Sold (Public Records) $165,000 Public Records
• 2007-05-10 Sold (Public Records) $130,000 Public Records
• 2005-07-06 Sold (Public Records) $121,000 Public Records
• 1998-06-04 Sold (Public Records) $42,900 Public Records
• 1986-04-01 Sold (Public Records) $56,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,050 · +4.3% YoY. Source: county tax records.