None · Palm Springs North, FL 33015

$180,000

2 bd · 2.0 ba · 980 sqft · Condo

Built 1974 Poor condition

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Why this score? — see what drove the B- 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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.2/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

WELL LOCATED CONDO! CLOSE TO SCHOOLS , SHOPPING CENTERS AND RESTAURANTS.

Key facts

• Community pool
• Built 1974

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).

Location & tenants

• Location reads 71/100 on livability (#374 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, cost of living F, health & safety 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 (-1.0%/yr); 253 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 36% of the median local income ($77k/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 $1k of loan paydown is wiped out by about $5k 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 0 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $180,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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. 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: 1.30% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.36%
• DSCR: 1.64
• GRM: 6.4

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: 1.3%
• Equity multiple: 1.05×
• Total profit: $2,439
• Equity at exit: $26,839

10-year hold

• IRR: 7.7%
• Equity multiple: 1.50×
• Total profit: $25,262
• Equity at exit: $15,563

Cash invested: $50,400 (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 33015

• Rents YoY: -1.0%
• Active inventory: 253
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,338 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $603

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 69%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7595 NW 179th St Unit 119 Hialeah, FL	2.0	2.0	976	$2,200	$2.25	14d	1	0.14mi
7501 NW 179th St Unit 109 Hialeah, FL	2.0	2.0	976	$2,199	$2.25	4d	1	0.17mi
7667 NW 182nd Ln #805 Hialeah, FL	3.0	2.0	1030	$2,950	$2.86	24d	1	0.26mi
17660 NW 73rd Ave Unit 206-3 Hialeah, FL	2.0	2.0	967	$2,100	$2.17	24d	1	0.41mi
17630 NW 73rd Ave Unit 203-4 Hialeah, FL	2.0	2.0	967	$2,300	$2.38	24d	1	0.42mi
17820 NW 73rd Ave Unit 101-1 Hialeah, FL	2.0	2.0	967	$2,400	$2.48	24d	1	0.44mi
8435 NW 189th Ln #1403 Hialeah, FL	2.0	2.0	990	$2,900	$2.93	20d	1	1.01mi
18858 NW 85th Ct #3003 Hialeah, FL	2.0	2.0	984	$2,650	$2.69	24d	1	1.01mi
18093 NW 87th Pl Hialeah, FL	1.0	1.0	600	$1,875	$3.12	24d	1	1.01mi
8220 NW 199th St Unit 1 Hialeah, FL	1.0	1.0	560	$1,600	$2.86	5d	1	1.35mi
8220 NW 199th St Unit 1 Hialeah, FL	1.0	1.0	560	$1,700	$3.04	18d	1	1.35mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2024-04-19
   historical
2. 2023-10-02
   listed $180,000

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

Taxation est. · year 1

• Rental income: $28,059
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$2,245
• − Management: −$2,245
• − Depreciation: −$5,236
• Taxable income: $4,651
• Est. tax owed @ 24.0%: −$1,116
• After-tax cash flow: $6,123/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 · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs, including a new roof and exterior updates, to improve its condition and value.

Repairs flagged

• Major roof — Signs of potential water damage
• Major exterior siding — Severe weathering and discoloration
• Major exterior paint — Faded and worn appearance

Value-add opportunities

• Resale new roof — A new roof would significantly improve the home's appearance and reduce potential maintenance costs
• Resale new exterior siding and paint — Fresh siding and paint would enhance curb appeal and property value
• Both HVAC upgrade — An updated HVAC system would improve comfort and energy efficiency, benefiting both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of potential water damage	Major	$15,000–50,000
exterior siding · Severe weathering and discoloration	Major	$15,000–50,000
exterior paint · Faded and worn appearance	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale new roof — A new roof would significantly improve the home's appearance and reduce potential maintenance costs ↑
• Resale new exterior siding and paint — Fresh siding and paint would enhance curb appeal and property value ↑
• Both HVAC upgrade — An updated HVAC system would improve comfort and energy efficiency, benefiting both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Palm Springs North

• Score: 71/100
• State rank: #374
• US rank: #6608

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Springs North, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 68,891
• Household income: $77,339
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 3833.0

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 (85%)
• Race & ethnicity: Hispanic / Latino 85% Two or more races 47% Black 6% White 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 44% Dominican 5%
• Common ancestry: Hispanic 1% Estonian 1% Lithuanian 1%
• Foreign-born: 59% · Canada, Jamaica, Dominican Republic
• Languages at home: 14% English-only · Spanish 84% French/Haitian/Cajun 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: ▼ -238.07%
• Current HPI: 386.6185
• Rent YoY: ▼ -1.03%
• 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

2 events — show timeline

• 2024-04-19 Listing Removed — Beaches MLS
• 2023-10-02 Listed $180,000 Beaches MLS