2100 SW 25th St

Miami, FL 33133

$450,000F

2 bd · 1.0 ba · 879 sqft · Built 1940 · MultiFamily · Active · 255 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,102/mo
• Mortgage (P&I): −$2,360
• Tax + insurance: −$1,450
• HOA: −$0
• Vac / Maint / Mgmt: −$861
• Net cashflow: $-569/mo
• Annual: $-6,832/yr
• Cap rate: 4.77%
• Cash-on-cash: -5.42%
• DSCR: 0.76
• 1% rule: 0.91%
• Cash to close: $126,000

Investor read

• This is a 2-bed/1.0-bath multifamily listed at $450k.
• At list price, monthly cash flow is $-569 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $349k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $410k (8.8% below list).
• It's been on market 255 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $349k (22.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• 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.
• Watch-outs: property tax is 3.4% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.7%/yr); 451 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 9 sale attempts since 10y ago; this cycle's ask has dropped $449k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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.
• Cap rate 4.8% vs local median 1.9% 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.
• At $4,102/mo this rent would consume 48% of the median local household income ($103k/yr) (locally 2105% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 255 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?