2526 SE 20th Pl Unit 207-B · Homestead, FL 33035

$149,000

1 bd · 1.0 ba · 830 sqft · Condo public records · 37 Days on market

Built 1989 $651/mo HOA · 33% of rent

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Why this score? — see what drove the D 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).

• 1% rule +8.3/10.0
• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0
• DSCR +1.9/10.0
• Rent growth +1.7/5.0

Listing remarks

Welcome to this peaceful and inviting 1-bedroom, 1-bathroom condominium located in the highly desirable community of Keys Gate! This well-maintained home offers a serene atmosphere with a private balcony where you can relax, unwind, and enjoy your morning coffee or evening breeze. Inside, you’ll find a comfortable layout with plenty of natural light lots of space throughout, bedroom is spacious, breakfast area/dinning area seperated from living room and the perfect opportunity to personalize the space to your own style and taste. Whether you envision modern upgrades or cozy touches, this home is a blank canvas ready for your creativity. Enjoy the ease of homeownership with an HOA that

Key facts

• Clubhouse
• Private balcony
• Community amenities

Tags

• PRIVATE BALCONY
• COMMUNITY AMENITIES
• CLUBHOUSE
• FENCED PROPERTY
• NATURAL LIGHT
• BREAKFAST AREA

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with restrictions
• HOA & community: Monthly association fee; HOA fee covers common areas, insurance, internet, grounds maintenance, structure maintenance, roof, trash, and water; Community amenities include clubhouse, library, barbecue area, and picnic area

Exterior

• Parking: Assigned parking (one space); Guest parking available
• Security: Gated/complex fencing; On-site security guard
• Utilities: Electric service; Public water; Public sewer
• Home design: 2-story building; Entry located on second floor
• Construction: Block construction; Effective year built
• Exterior features: Balcony; Screened balcony/porch; Complex fenced; Security guard on site

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Second-floor entry; Main-level primary bedroom
• Laundry & utility: Washer and dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $149k.

Deal economics

• At list price, monthly cash flow is $-160 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (19.0% below list).
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $121k (19.0% below list) — sets the bar for cash-flow.
• Cap rate 5.0% 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.
• Zoned schools: Gateway Environmental K-8 Learning Center (math 23% / reading 34%, grade F, #1,943 of 2,144 statewide, top 91%, 1,355 students, 74% FRL); Homestead Middle School (math 23% / reading 25%, grade F, #532 of 571 statewide, top 94%, 666 students, 81% FRL); Homestead Senior High School (math 24% / reading 23%, grade F, #533 of 667 statewide, top 80%, 2,020 students, 74% FRL).
• Zoned-school proficiency averages 25% at this address vs 50% district-wide (-24 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-3.2%/yr); 466 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 37 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 7y ago; this cycle's ask has dropped $26k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $98k; list at $149k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→36/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,662 (19.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
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. 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. 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?
8. 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.
9. 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.
10. 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: 1.33% ✓
• Cap rate: 5.00%
• Cash-on-cash: -4.61%
• DSCR: 0.79
• GRM: 6.3

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: -30.0%
• Equity multiple: 0.05×
• Total profit: $-39,711
• Equity at exit: $22,216

10-year hold

• IRR: -73.5%
• Equity multiple: -0.64×
• Total profit: $-68,321
• Equity at exit: $12,883

Cash invested: $41,720 (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 33035

• Home prices YoY: -1.4%
• Rents YoY: -3.2%
• Active inventory: 466
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,982 high
• Mortgage (P&I): −$781
• Tax from tax record: −$232 /mo · $2,779/yr
• Insurance: −$62
• HOA: −$651
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $-160

Break-even live

Break-even rent $2,185

Max offer price $120,662

Occupancy floor —

Sensitivity live

Price	-10% $-76	-5% $-118	+0% $-160	+5% $-203	+10% $-245
Rent	-10% $-317	-5% $-239	+0% $-160	+5% $-82	+10% $-4
Rate	-1.0pp $-85	-0.5pp $-123	base $-160	+0.5pp $-199	+1.0pp $-238

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2518 SE 20th Pl Unit 203B Homestead, FL	2.0	2.0	1040	$2,000	$1.92	6d	1	0.02mi
2518 SE 20th Pl Unit 203B Homestead, FL	2.0	2.0	1040	$2,000	$1.92	5d	1	0.02mi
2601 SE 19th Ct Homestead, FL	2.0	2.0	1070	$2,300	$2.15	26d	1	0.05mi
2629 SE 19th Ct Homestead, FL	2.0	2.0	1070	$2,000	$1.87	26d	1	0.05mi
2603 SE 20th Ct Unit 102A Homestead, FL	2.0	2.0	1070	$2,000	$1.87	26d	1	0.09mi
2603 SE 20th Ct Unit 102A Homestead, FL	2.0	2.0	1070	$2,000	$1.87	10d	1	0.09mi
2621 SE 21st Ct Unit 105B Homestead, FL	2.0	2.0	1070	$2,100	$1.96	26d	1	0.11mi
2277 SE 27th Dr Homestead, FL	2.0	2.0	1070	$2,200	$2.06	26d	1	0.14mi
2623 SE 8th Ct Unit NA Homestead, FL	1.0	1.0	574	$1,500	$2.61	26d	1	0.64mi
2460 SE 16th Ter Homestead, FL	2.0–3.0	2.0	1076	$1,550	$1.44	1d	2	1.08mi
2637 SE 16th Ter #206 Homestead, FL	2.0	2.0	930	$2,100	$2.26	26d	1	1.09mi
1568 SE 26th St Homestead, FL	2.0	2.0	916	$1,775	$1.94	26d	2	1.11mi
1536 SE 25th St #206 Homestead, FL	2.0	2.0	930	$1,780	$1.91	26d	1	1.12mi
1568 SE 26th St Homestead, FL	2.0	2.0	903	$1,800	$1.99	4d	1	1.12mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	10d	1	1.14mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	26d	1	1.14mi
1539 SE 27th St #201 Homestead, FL	2.0	2.0	930	$1,700	$1.83	20d	1	1.16mi
1539 SE 27th St #201 Homestead, FL	2.0	2.0	930	$1,700	$1.83	26d	1	1.16mi
2528 SE 14th Ave Homestead, FL	1.0	1.0	775	$3,000	$3.87	7d	1	1.25mi
1361 Sandpiper Blvd Homestead, FL	2.0	1.5	1060	$1,900	$1.79	26d	1	1.33mi
1362 Pelican Ct Homestead, FL	2.0	2.0	999	$2,600	$2.60	26d	1	1.35mi
2901 San Remo Cir Homestead, FL	2.0	2.0	951	$2,000	$2.10	19d	1	1.37mi
2915 San Remo Cir Homestead, FL	2.0	2.0	951	$2,200	$2.31	26d	1	1.37mi
2701 SE 12th Pl #102 Homestead, FL	2.0	2.0	822	$1,800	$2.19	19d	1	1.38mi
3214 San Remo Cir Homestead, FL	2.0	2.0	951	$2,000	$2.10	26d	1	1.39mi
1126 SE 13th Ter Homestead, FL	2.0	2.0	952	$2,400	$2.52	13d	1	1.40mi
1126 SE 13th Ter Homestead, FL	2.0	2.0	952	$2,400	$2.52	4d	1	1.40mi
2590 NE 3rd Dr #203 Homestead, FL	2.0	2.0	1048	$1,850	$1.77	7d	1	1.40mi
2590 NE 3rd Dr #203 Homestead, FL	2.0	2.0	1048	$1,850	$1.77	26d	1	1.40mi
374 NE 27th Ave #203 Homestead, FL	2.0	2.0	1048	$1,800	$1.72	5d	1	1.42mi
374 NE 27th Ave #203 Homestead, FL	2.0	2.0	1048	$1,950	$1.86	17d	1	1.42mi
2901 SE 13th Rd Unit 105-41 Homestead, FL	2.0	2.0	822	$1,850	$2.25	1d	1	1.43mi
2901 SE 13th Rd Unit 105-41 Homestead, FL	2.0	2.0	822	$1,900	$2.31	26d	1	1.43mi
2921 SE 13th Rd Unit 104-39 Homestead, FL	2.0	2.0	822	$1,790	$2.18	10d	1	1.43mi
2921 SE 13th Rd Unit 104-39 Homestead, FL	2.0	2.0	822	$1,790	$2.18	6d	1	1.43mi
1271 SE 28th Ct Homestead, FL	2.0	2.0	818	$1,775	$2.17	5d	2	1.43mi
1271 SE 28th Ct #105 Homestead, FL	2.0	2.0	822	$1,800	$2.19	7d	1	1.44mi
2730 NE 4th St #205 Homestead, FL	2.0	2.0	1048	$2,000	$1.91	24d	1	1.44mi
2911 SE 13th Ave Unit 202-49 Homestead, FL	2.0	2.0	815	$1,650	$2.02	26d	1	1.45mi
1250 SE 26th St #204 Homestead, FL	2.0	2.0	815	$1,875	$2.30	26d	1	1.46mi

HOA detail condo

• Monthly dues: $651 · $7,812/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-22
   days on market $149,000 Active 37 DOM
2. 2026-06-21
   days on market $149,000 Active 36 DOM
3. 2026-06-18
   days on market $149,000 Active 33 DOM
4. 2026-06-17
   days on market $149,000 Active 32 DOM
5. 2026-06-16
   pricedays on market $149,000 Active 31 DOM
6. 2026-06-15
   days on market $169,000 Active 30 DOM
7. 2026-06-13
   days on market $169,000 Active 28 DOM
8. 2026-06-09
   days on market $169,000 Active 24 DOM
9. 2026-06-08
   days on market $169,000 Active 23 DOM
10. 2026-06-07
    days on market $169,000 Active 22 DOM
11. 2026-06-04
    days on market $169,000 Active 19 DOM
12. 2026-06-03
    days on market $169,000 Active 18 DOM
13. 2026-06-02
    days on market $169,000 Active 17 DOM
14. 2026-06-01
    days on market $169,000 Active 16 DOM
15. 2026-06-01
    price $169,000 Active 15 DOM
16. 2026-05-31
    days on market $175,000 Active 15 DOM
17. 2026-05-16
    listed $175,000 Active
18. 2026-04-20
    listed $1,700
19. 2026-03-14
    historical $1,850
20. 2026-01-15
    listed $1,850
21. 2024-12-27
    historical $1,850
22. 2024-11-07
    listed $215,000 Active
23. 2024-10-08
    listed $1,850
24. 2023-03-27
    historical
25. 2023-03-21
    status Active
26. 2022-12-06
    listed $200,000 Active
27. 2020-08-03
    listed $117,700 Active
28. 2019-03-07
    soldstatus $98,000
29. 2019-02-20
    soldstatus $98,000 Sold
30. 2019-02-01
    status Pending
31. 2019-01-19
    listed $105,000 Active
32. 2012-06-28
    soldstatus $27,500
33. 1994-08-12
    soldstatus $39,000
34. 1989-11-01
    soldstatus $53,200

ⓘ 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: $2,779 · $232/mo
• Projected year-2 tax: $2,779 · $232/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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) · 71% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥106°F today · 36 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: $23,782
• − Mortgage interest: −$8,346
• − Property taxes: −$2,779
• − Insurance: −$745
• − Repairs & maintenance: −$1,903
• − Management: −$1,903
• − HOA: −$7,812
• − Depreciation: −$4,335
• Taxable loss: −$4,040
• Est. tax savings @ 24.0%: +$970
• After-tax cash flow: $-955/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): 17,202
• Household income: $68,354
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 687.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 35% Black 18% White 12%
• Hispanic origin (detail): Mexican 6% Puerto Rican 13% Cuban 25% Dominican 2% Salvadoran 1%
• Common ancestry: Hispanic 6% Lithuanian 3% Estonian 1%
• Foreign-born: 33% · Canada, Dominican Republic, Jamaica
• Languages at home: 32% English-only · Spanish 60% French/Haitian/Cajun 7% Other Indo-European 1%

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: ▼ -5.24%
• Current HPI: 369.3031
• Rent YoY: ▼ -3.20%
• 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

+228.9% since first listed

18 events — show timeline

• 2026-05-16 Listed $175,000 MARMLS
• 2026-04-20 Listed for Rent $1,700 MARMLS
• 2026-03-14 Rental Removed $1,850 MARMLS
• 2026-01-15 Listed for Rent $1,850 MARMLS
• 2024-12-27 Rental Removed $1,850 MARMLS
• 2024-11-07 Listed $215,000 MARMLS
• 2024-10-08 Listed for Rent $1,850 MARMLS
• 2023-03-27 Listing Removed — MARMLS
• 2023-03-21 Relisted — MARMLS
• 2022-12-06 Listed $200,000 MARMLS
• 2020-08-03 Listed $117,700 MARMLS
• 2019-03-07 Sold (Public Records) $98,000 Public Records
• 2019-02-20 Sold (MLS) $98,000 MARMLS
• 2019-02-01 Pending — MARMLS
• 2019-01-19 Listed $105,000 MARMLS
• 2012-06-28 Sold (MLS) $27,500 MARMLS
• 1994-08-12 Sold (Public Records) $39,000 Public Records
• 1989-11-01 Sold (Public Records) $53,200 Public Records

Property tax history

+9.9%/yr

Latest (2025): $2,779 · +3.7% YoY. Source: county tax records.