440 E 23rd St #1310 · Hialeah, FL 33013

$265,000

2 bd · 2.0 ba · 915 sqft · Condo public records · 59 Days on market

Built 1979 $349/mo HOA · 11% 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 +21.2/30.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• DSCR +6.7/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This fully renovated 2-bedroom, 2-bathroom apartment in the heart of Hialeah is a rare find you can’t afford to miss! Featuring a modern kitchen with stainless steel appliances, in-unit washer/dryer, and high-impact windows, this unit is move-in ready and perfect for tenants. Located in a secure gated community with a pool and assigned parking, it offers both comfort and convenience. For investors, this is a golden opportunity: no rental restrictions mean immediate income potential, and the building has already passed its 40-year inspection. Plus, the property is just minutes from Hialeah Casino, offering year-round entertainment with racing, gaming, and dining options. With high demand in Hialeah’s booming market, this property won’t last long. Act now—this deal is too good to wait!

Key facts

• Pool
• Modern kitchen
• In-unit washer dryer

Tags

• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• IN-UNIT WASHER DRYER
• HIGH IMPACT WINDOWS
• SECURE GATED COMMUNITY
• POOL

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee of $349; Association fees cover common areas and pool(s); Community amenities include a pool and elevator(s)

Exterior

• Parking: Covered guest parking; One covered parking space; 1-car garage
• Security: Complex fenced; Key card entry
• Utilities: Association-maintained pool(s)
• Home design: Attached property; 4-story building; Entry level: 3
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/porch; Security/high impact doors; Association pool

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Unfurnished; Living/dining room; Bedroom on main level
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $257k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.5% in Hialeah — 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 74/100 on livability (#288 in FL, #4,774 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+; Watch: amenities F, employment D-.
• 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 (-0.1%/yr); 111 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,220/mo this rent would consume 64% of the median local household income ($61k/yr) (locally 1352% 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 $8k 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 59 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $257,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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. 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. 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.
7. 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.
8. 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: 1.21% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.18%
• DSCR: 1.27
• GRM: 6.9

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: -10.7%
• Equity multiple: 0.63×
• Total profit: $-27,802
• Equity at exit: $39,512

10-year hold

• IRR: -7.1%
• Equity multiple: 0.62×
• Total profit: $-28,331
• Equity at exit: $22,912

Cash invested: $74,200 (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 33013

• Rents YoY: -0.1%
• Active inventory: 111
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,220 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$312 /mo · $3,750/yr
• Insurance: −$110
• HOA: −$349
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $382

Break-even live

Break-even rent $2,736

Max offer price $265,000

Occupancy floor 83%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $349 · $4,188/yr
• Likely covers: poolsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $265,000 Active 59 DOM
2. 2026-06-17
   days on market $265,000 Active 58 DOM
3. 2026-06-16
   days on market $265,000 Active 57 DOM
4. 2026-06-15
   days on market $265,000 Active 56 DOM
5. 2026-06-13
   days on market $265,000 Active 54 DOM
6. 2026-06-09
   days on market $265,000 Active 50 DOM
7. 2026-06-08
   days on market $265,000 Active 49 DOM
8. 2026-06-07
   days on market $265,000 Active 48 DOM
9. 2026-06-04
   days on market $265,000 Active 45 DOM
10. 2026-06-03
    days on market $265,000 Active 44 DOM
11. 2026-06-02
    days on market $265,000 Active 43 DOM
12. 2026-06-01
    days on market $265,000 Active 42 DOM
13. 2026-05-31
    days on market $265,000 Active 41 DOM
14. 2026-04-20
    listed $285,000 Active
15. 2025-03-26
    soldstatus $262,500
16. 2025-03-18
    soldstatus $262,500 Closed 818-char remark

    Show marketing remark (818 chars)

    This fully renovated 2-bedroom, 2-bathroom apartment in the heart of Hialeah is a rare find you can’t afford to miss! Featuring a modern kitchen with stainless steel appliances, in-unit washer/dryer, and high-impact windows, this unit is move-in ready and perfect for tenants. Located in a secure gated community with a pool and assigned parking, it offers both comfort and convenience. For investors, this is a golden opportunity: no rental restrictions mean immediate income potential, and the building has already passed its 40-year inspection. Plus, the property is just minutes from Hialeah Casino, offering year-round entertainment with racing, gaming, and dining options. With high demand in Hialeah’s booming market, this property won’t last long. Act now—this deal is too good to wait!

17. 2025-02-21
    historical Active Under Contract 818-char remark

    Show marketing remark (818 chars)

    This fully renovated 2-bedroom, 2-bathroom apartment in the heart of Hialeah is a rare find you can’t afford to miss! Featuring a modern kitchen with stainless steel appliances, in-unit washer/dryer, and high-impact windows, this unit is move-in ready and perfect for tenants. Located in a secure gated community with a pool and assigned parking, it offers both comfort and convenience. For investors, this is a golden opportunity: no rental restrictions mean immediate income potential, and the building has already passed its 40-year inspection. Plus, the property is just minutes from Hialeah Casino, offering year-round entertainment with racing, gaming, and dining options. With high demand in Hialeah’s booming market, this property won’t last long. Act now—this deal is too good to wait!

18. 2025-01-22
    listed $265,000 Active 818-char remark

    Show marketing remark (818 chars)

    This fully renovated 2-bedroom, 2-bathroom apartment in the heart of Hialeah is a rare find you can’t afford to miss! Featuring a modern kitchen with stainless steel appliances, in-unit washer/dryer, and high-impact windows, this unit is move-in ready and perfect for tenants. Located in a secure gated community with a pool and assigned parking, it offers both comfort and convenience. For investors, this is a golden opportunity: no rental restrictions mean immediate income potential, and the building has already passed its 40-year inspection. Plus, the property is just minutes from Hialeah Casino, offering year-round entertainment with racing, gaming, and dining options. With high demand in Hialeah’s booming market, this property won’t last long. Act now—this deal is too good to wait!

19. 2025-01-20
    historical
20. 2024-07-19
    listed $315,000 Active
21. 2024-07-16
    historical
22. 2024-02-06
    listed $315,000 Active
23. 2023-07-11
    soldstatus $285,000
24. 2023-06-29
    soldstatus $285,000 Closed
25. 2023-05-24
    status Pending
26. 2023-05-13
    listed $300,000 Active
27. 2022-01-24
    status Pending
28. 2022-01-23
    historical
29. 2022-01-20
    listed $227,000 Active
30. 2019-07-15
    soldstatus $165,000 Sold
31. 2019-06-21
    status Pending
32. 2019-04-18
    price $173,000
33. 2019-03-26
    listed $175,000 Active
34. 2010-11-23
    soldstatus $85,000
35. 2010-05-06
    soldstatus $87,000
36. 1991-02-20
    soldstatus $39,000
37. 1979-11-01
    soldstatus $30,500

ⓘ 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: $3,750 · $312/mo
• Projected year-2 tax: $3,750 · $312/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 28 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: $38,635
• − Mortgage interest: −$14,844
• − Property taxes: −$3,750
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,091
• − Management: −$3,091
• − HOA: −$4,188
• − Depreciation: −$7,709
• Taxable income: $638
• Est. tax owed @ 24.0%: −$153
• After-tax cash flow: $4,430/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 — Hialeah

• Score: 74/100
• State rank: #288
• US rank: #4774

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hialeah, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 315,776
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 30,695
• Household income: $60,658
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1352.0

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: Predominantly Hispanic (94%)
• Race & ethnicity: Hispanic / Latino 94% Two or more races 56% White 5%
• Hispanic origin (detail): Puerto Rican 1% Cuban 82%
• Foreign-born: 74% · Canada, Jamaica
• Languages at home: 9% English-only · Spanish 90%

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: ▼ -664.57%
• Current HPI: 429.3973
• Rent YoY: ▼ -0.13%
• 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

+834.4% since first listed

24 events — show timeline

• 2026-04-20 Listed $285,000 MARMLS
• 2025-03-26 Sold (Public Records) $262,500 Public Records
• 2025-03-18 Sold (MLS) $262,500 MARMLS
• 2025-02-21 Contingent — MARMLS
• 2025-01-22 Listed $265,000 MARMLS
• 2025-01-20 Listing Removed — MARMLS
• 2024-07-19 Listed $315,000 MARMLS
• 2024-07-16 Listing Removed — MARMLS
• 2024-02-06 Listed $315,000 MARMLS
• 2023-07-11 Sold (Public Records) $285,000 Public Records
• 2023-06-29 Sold (MLS) $285,000 Beaches MLS
• 2023-05-24 Pending — Beaches MLS
• 2023-05-13 Listed $300,000 Beaches MLS
• 2022-01-24 Pending — MARMLS
• 2022-01-23 Listing Removed — MARMLS
• 2022-01-20 Listed $227,000 MARMLS
• 2019-07-15 Sold (MLS) $165,000 MARMLS
• 2019-06-21 Pending — MARMLS
• 2019-04-18 Price Changed $173,000 MARMLS
• 2019-03-26 Listed $175,000 MARMLS
• 2010-11-23 Sold (MLS) $85,000 MARMLS
• 2010-05-06 Sold (Public Records) $87,000 Public Records
• 1991-02-20 Sold (Public Records) $39,000 Public Records
• 1979-11-01 Sold (Public Records) $30,500 Public Records

Property tax history

+7.6%/yr

Latest (2025): $3,750 · -0.1% YoY. Source: county tax records.