6820 W Flagler St · Miami, FL 33144

$235,000

2 bd · 1.0 ba · 726 sqft · SingleFamily · 6 Days on market

Built 1973 Good condition $324/sqft · 55% below area $454/mo HOA · 21% of rent

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

• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.1/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

LOCATION! LOCATION! LOCATION! This very well kept condo features 2 Bedrooms, one Bath with a beautifully remodeled Kitchen and bath. The unit is tiled throughout with brand new bathroom cabinet, new kitchen cabinets and brand new appliances. The building is very well kept and features the community laundry room on the first floor. Unit has a balcony and one parking space. Centrally located in the heart of Miami, within steps of public transportation, grocery shopping, restaurants. Close to the Miami International Airport and major highways.

Key facts

• Balcony
• Remodeled kitchen
• Centrally located

Tags

• REMODELED KITCHEN
• COMMUNITY LAUNDRY ROOM
• BALCONY
• PARKING SPACE
• CENTRALLY LOCATED
• PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $235k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-379 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (23.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (8.5% below list).
• Recommended offer: $180k (23.4% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 1.4% in Miami — 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 (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, cost of living 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: Fairlawn Elementary School (math 45% / reading 54%, grade D, #1,088 of 2,144 statewide, top 53%, 546 students, 63% FRL); West Miami Middle School (math 23% / reading 41%, grade F, #448 of 571 statewide, top 79%, 655 students, 67% FRL); South Miami Senior High School (math 19% / reading 35%, grade F, #478 of 667 statewide, top 73%, 1,507 students, 59% FRL) — zoned schools at 63% FRL track the district average.
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-13 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 soft (-1.5%/yr); 104 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 42% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,120 (23.4% 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. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 4.36%
• Cash-on-cash: -6.92%
• DSCR: 0.69
• GRM: 9.1

CMA / ARV

• ARV (median comp): $527,783
• List price: $235,000
• Delta: -55.47%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6820 W Flagler St #202	0.01mi	1/1.0 (-1)	697 (-4%)	8mo	$178,000	$255	82
6820 W Flagler St #101	0.01mi	2/1.5	813 (+12%)	0mo	$175,000	$215	77
399 NW 72nd Ave #104	0.41mi	1/1.0 (-1)	680 (-6%)	1mo	$197,500	$290	64
6090 W Flagler St #307	0.72mi	2/1.0	725 (-0%)	2mo	$214,000	$295	64
8050 NW 8th St #305	1.26mi	1/1.0 (-1)	720 (-1%)	6mo	$204,600	$284	53
505 NW 72nd Ave #206	0.48mi	1/1.0 (-1)	672 (-7%)	17mo	$205,000	$305	46
6200 W Flagler St #208	0.63mi	1/1.0 (-1)	575 (-21%)	1mo	$175,000	$304	40
420 SW 63rd Ct	0.53mi	2/1.0	855 (+18%)	18mo	$575,000	$673	35
8145 NW 7th St #406	1.38mi	2/2.0	870 (+20%)	1mo	$252,000	$290	35
—	0.87mi	1/1.0 (-1)	550 (-24%)	7mo	$180,000	$327	29
7995 NW 8th St Unit 107C	1.25mi	2/2.5	900 (+24%)	9mo	$340,000	$378	26
7161 SW 22nd St	1.37mi	3/1.0 (+1)	888 (+22%)	12mo	$400,000	$450	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -32.7%
• Equity multiple: -0.04×
• Total profit: $-68,226
• Equity at exit: $35,039

10-year hold

• IRR: -70.0%
• Equity multiple: -0.73×
• Total profit: $-113,603
• Equity at exit: $20,319

Cash invested: $65,800 (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 →

Active competition Active MLS

• For sale now: 1 active · 2 under contract
• Median asking: $575,000 ($705/sqft)
• Median days on market: 15 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +3.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33144

• Rents YoY: -1.5%
• Active inventory: 104
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,150 medium
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$454
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $-379

Break-even live

Break-even rent $2,630

Max offer price $180,120

Occupancy floor —

Sensitivity live

Price	-10% $-217	-5% $-298	+0% $-379	+5% $-460	+10% $-542
Rent	-10% $-549	-5% $-464	+0% $-379	+5% $-294	+10% $-209
Rate	-1.0pp $-261	-0.5pp $-319	base $-379	+0.5pp $-440	+1.0pp $-502

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: $58,750
• Closing costs: $7,050
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8050 NW 8th St #1407 Miami, FL	1.0	1.0	720	$2,200	$3.06	3d	1	1.26mi

Property features AI

Finance

• Other: In-ground community pool
• HOA & community: Homeowners association with monthly feeAssociation fee: $454 monthlyCommunity pool

Exterior

• Parking: Carport (1 space)1 covered parking space
• Utilities: Public waterPublic sewer
• Home design: Faces northResale property
• Construction: Block construction
• Exterior features: BalconyOpen balcony/porch

Interior

• Kitchen: Electric RangeRefrigerator
• Bedrooms: Other room types
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: ElevatorTile flooring
• Laundry & utility: Community laundry facilities

Listing history 3 events

1. 2026-05-20
   listed $235,000 Active
2. 2021-11-15
   historical
3. 2021-11-11
   listed $154,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 5 d/yr ≥104°F today · 19 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: $25,804
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,064
• − Management: −$2,064
• − HOA: −$5,448
• − Depreciation: −$6,836
• Taxable loss: −$8,473
• Est. tax savings @ 24.0%: +$2,033
• After-tax cash flow: $-2,518/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $3,630–$10,890 screening

This well-maintained single-family home in a prime location offers a good investment opportunity with minimal repairs and updates needed.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value ↑
• Both paint trim — improves curb appeal and resale value ↑
• Both landscaping — enhances curb appeal and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary Fairlawn Elementary School D FL #1,088/2,144 Nat'l #12,785/41,679 Middle West Miami Middle School F FL #448/571 Nat'l #8,317/14,009 High South Miami Senior High School F FL #478/667 Nat'l #11,887/17,239

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

B Composite livability gradescore 78/100

Livability — Miami

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 3,126,439 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 25,909
• Household income: $60,907
• Rent vs Own: 47.4% rent · 52.6% own
• Severe rent burden: 18% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (93%)
• Race & ethnicity: Hispanic / Latino 93% Two or more races 54% White 5%
• Hispanic origin (detail): Cuban 75% Dominican 1%
• Common ancestry: Italian 1%
• Foreign-born: 71% · Canada, Jamaica, Dominican Republic
• Languages at home: 9% English-only · Spanish 90%

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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: ▼ -637.28%
• Current HPI: 432.727
• Rent YoY: ▼ -1.49%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: In-ground community pool
• HOA & community: Homeowners association with monthly feeAssociation fee: $454 monthlyCommunity pool

Exterior

• Parking: Carport (1 space)1 covered parking space
• Utilities: Public waterPublic sewer
• Home design: Faces northResale property
• Construction: Block construction
• Exterior features: BalconyOpen balcony/porch

Interior

• Kitchen: Electric RangeRefrigerator
• Bedrooms: Other room types
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: ElevatorTile flooring
• Laundry & utility: Community laundry facilities

Price history

+52.6% since first listed

4 events — show timeline

• 2026-05-27 Listing Removed — MARMLS
• 2026-05-20 Listed $235,000 MARMLS
• 2021-11-15 Listing Removed — MARMLS
• 2021-11-11 Listed $154,000 MARMLS