18802 SW 113th Ave #10 · South Miami Heights, FL 33157

$3,000

2 bd · 2.0 ba · 999 sqft · Condo public records · 10 Days on market

Built 1981

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Twin Home with separate in-laws quarters. Main house is a 2/2 with large bedrooms and remodeled Bathrooms. In-law quarters is a 1/1 with a small kitchenette. Conveniente located to shops, restaurants and the Turnpike.

Key facts

• 3 garage spots
• Built 1981
• Listed 10 days

Property features AI

Finance

• Other: Lease considered; No pets allowed
• HOA & community: Association covers laundry

Exterior

• Parking: 3 covered parking spaces; Garage with 3 spaces; Two or more parking spaces
• Security: Storm/security shutters
• Utilities: Electric water heater
• Home design: Single-story; Resale property; Entry at ground level; Attached property
• Construction: Block construction
• Exterior features: Fenced yard; Patio; Storm/security shutters

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Electric water heater
• Interior features: Bedroom on main level; First-floor entry
• Laundry & utility: Washer hookup; Dryer hookup; Laundry included in association amenities

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $3k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $3k).
• Cap rate 692.4% vs local median 3.6% in South Miami Heights — 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 (#169 in FL, #2,539 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, schools A; Watch: employment D+, amenities 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 (-0.8%/yr); 376 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 32% of the median local income ($82k/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 $21 of loan paydown is wiped out by about $90 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $840 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 12y 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: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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?
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: 73.25% ✓
• Cap rate: 692.40%
• Cash-on-cash: 2450.38%
• DSCR: 110.03
• GRM: 0.1

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: —
• Equity multiple: 111.43×
• Total profit: $92,763
• Equity at exit: $447

10-year hold

• IRR: —
• Equity multiple: 220.77×
• Total profit: $184,606
• Equity at exit: $259

Cash invested: $840 (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 33157

• Rents YoY: -0.8%
• Active inventory: 376
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,197 high
• Mortgage (P&I): −$16
• Tax est. 1.5%: −$4 /mo · $45/yr
• Insurance: −$1
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $1,563

Break-even live

Break-even rent $219

Max offer price $3,000

Occupancy floor 24%

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: $750
• Closing costs: $90
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11750 SW 186th St Miami, FL	3.0	1.0	864	$2,400	$2.78	20d	1	0.46mi
18305 SW 110th Ave Unit 18305 (Bldg 1) -109 Miami, FL	2.0	2.0	986	$2,430	$2.46	24d	1	0.49mi
11930 SW 187th St Unit 1 Miami, FL	1.0	1.0	580	$1,400	$2.41	24d	1	0.68mi
11309 SW 200th St Unit 103C Miami, FL	2.0	2.0	840	$2,100	$2.50	24d	1	0.73mi
11307 SW 200th St Unit 106B Miami, FL	2.0	2.0	840	$1,900	$2.26	21d	1	0.74mi
19771 SW 114th Ave #328 Miami, FL	2.0	2.0	800	$1,900	$2.38	18d	1	0.74mi
19791 SW 114th Ave Miami, FL	2.0	2.0	800	$1,700	$2.12	8d	2	0.74mi
19729 SW 114th Ave #250 Miami, FL	2.0	2.0	800	$1,675	$2.09	11d	1	0.74mi
19751 SW 114th Ave Unit 347 Miami, FL	2.0	2.0	800	$1,875	$2.34	24d	1	0.74mi
19751 SW 114th Ave #349 Miami, FL	2.0	2.0	800	$1,790	$2.24	5d	1	0.74mi
19751 SW 114th Ave Miami, FL	2.0	2.0	800	$1,812	$2.27	18d	2	0.74mi
19729 SW 114th Ave #150 Miami, FL	2.0	2.0	800	$1,980	$2.48	8d	1	0.74mi
19729 SW 114th Ave #150 Miami, FL	2.0	2.0	800	$1,980	$2.48	22d	1	0.74mi
19715 SW 114th Ave #352 Miami, FL	2.0	2.0	800	$1,700	$2.12	24d	1	0.74mi
19841 SW 114th Ave #310 Miami, FL	2.0	2.0	800	$1,750	$2.19	24d	1	0.74mi
11050 SW 196th St #103 Cutler Bay, FL	2.0	2.0	809	$1,950	$2.41	22d	1	0.75mi
11040 SW 196th St Cutler Bay, FL	2.0	2.0	809	$2,070	$2.56	5d	2	0.75mi
11040 SW 196th St #412 Cutler Bay, FL	2.0	2.0	809	$2,200	$2.72	15d	1	0.75mi
19800 SW 110th Ct Cutler Bay, FL	1.0	1.0	625	$1,572	$2.52	3d	1	0.76mi
11301 SW 200th St Unit 104A Miami, FL	1.0	1.5	703	$1,600	$2.28	11d	1	0.80mi
11301 SW 200th St Unit 108A Miami, FL	1.0	1.5	703	$1,449	$2.06	22d	1	0.80mi
11060 SW 196th St Cutler Bay, FL	2.0	2.0	861	$1,862	$2.16	21d	3	0.80mi
11060 SW 196th St Cutler Bay, FL	2.0	2.0	861	$1,950	$2.26	24d	2	0.80mi
11060 SW 196th St Cutler Bay, FL	2.0	2.0	861	$1,950	$2.26	5d	2	0.80mi
19800 SW 103rd Ct #201 Cutler Bay, FL	2.0	2.0	921	$2,250	$2.44	2d	1	0.98mi
20221 SW 112th Ct Unit 2 Miami, FL	1.0	1.0	607	$1,300	$2.14	24d	1	0.99mi
20221 SW 112th Ct Unit 2 Miami, FL	1.0	1.0	607	$1,300	$2.14	4d	1	0.99mi
19701 SW 103rd Ct Unit 19701 Cutler Bay, FL	3.0	1.0	1044	$2,600	$2.49	24d	1	1.01mi
19362 SW 103rd Ct Unit B Cutler Bay, FL	3.0	2.0	974	$2,600	$2.67	4d	1	1.05mi
19362 SW 103rd Ct Unit B Cutler Bay, FL	3.0	2.0	974	$2,600	$2.67	24d	1	1.05mi
18505 Homestead Ave Miami, FL	2.0	1.0–2.0	621	$1,847	$2.97	24d	1	1.12mi
18412 Homestead Ave Miami, FL	1.0–3.0	1.0–2.0	859	$2,624	$3.05	24d	1	1.17mi
10622 SW 174th Ter Unit 10622 Miami, FL	2.0	1.0	816	$2,000	$2.45	8d	1	1.17mi
18772 SW 100th Ave #18772 Cutler Bay, FL	2.0	2.5	1100	$2,000	$1.82	8d	1	1.21mi
18772 SW 100th Ave #18772 Cutler Bay, FL	2.0	2.5	1100	$2,075	$1.89	14d	1	1.21mi
17221 SW 119th Ct Miami, FL	2.0	2.0	1000	$2,750	$2.75	24d	1	1.23mi
20225 SW 106th Ave Cutler Bay, FL	3.0	1.0	968	$2,650	$2.74	21d	1	1.24mi
18706 SW 100th Ave #18706 Cutler Bay, FL	2.0	2.5	1100	$4,200	$3.82	24d	1	1.25mi
18706 SW 100th Ave Unit 1044543P Cutler Bay, FL	2.0	2.5	1097	$3,573	$3.26	3d	1	1.25mi
17727 SW 103rd Ave Unit 17727 Miami, FL	3.0	1.0	650	$1,950	$3.00	24d	1	1.29mi

HOA detail condo

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

Listing history 27 events

1. 2026-06-07
   days on market $3,000 Active 10 DOM
2. 2026-06-04
   days on market $3,000 Active 7 DOM
3. 2026-06-03
   days on market $3,000 Active 6 DOM
4. 2026-06-02
   days on market $3,000 Active 5 DOM
5. 2026-06-01
   days on market $3,000 Active 4 DOM
6. 2026-05-31
   days on market $3,000 Active 3 DOM
7. 2026-05-21
   listed $3,000 Active
8. 2022-01-06
   soldstatus $295,000
9. 2021-12-29
   soldstatus $295,000 Closed 227-char remark

   Show marketing remark (227 chars)

   Beautiful Twin Home with separate in-laws quarters. Main house is a 2/2 with large bedrooms and remodeled Bathrooms. In-law quarters is a 1/1 with a small kitchenette. Conveniente located to shops, restaurants and the Turnpike.

10. 2021-12-16
    status Pending 227-char remark

    Show marketing remark (227 chars)

    Beautiful Twin Home with separate in-laws quarters. Main house is a 2/2 with large bedrooms and remodeled Bathrooms. In-law quarters is a 1/1 with a small kitchenette. Conveniente located to shops, restaurants and the Turnpike.

11. 2021-11-11
    historical Active Under Contract 227-char remark

    Show marketing remark (227 chars)

    Beautiful Twin Home with separate in-laws quarters. Main house is a 2/2 with large bedrooms and remodeled Bathrooms. In-law quarters is a 1/1 with a small kitchenette. Conveniente located to shops, restaurants and the Turnpike.

12. 2021-11-03
    listed $290,000 Active 227-char remark

    Show marketing remark (227 chars)

    Beautiful Twin Home with separate in-laws quarters. Main house is a 2/2 with large bedrooms and remodeled Bathrooms. In-law quarters is a 1/1 with a small kitchenette. Conveniente located to shops, restaurants and the Turnpike.

13. 2019-10-29
    soldstatus $127,000
14. 2019-09-13
    soldstatus $127,000 Sold 86-char remark

    Show marketing remark (86 chars)

    this 2bed 2 bath twin home, is a great investment. you will be proud to call this home

15. 2019-08-14
    status Backup Contract 86-char remark

    Show marketing remark (86 chars)

    this 2bed 2 bath twin home, is a great investment. you will be proud to call this home

16. 2019-02-07
    listed $132,000 Active 86-char remark

    Show marketing remark (86 chars)

    this 2bed 2 bath twin home, is a great investment. you will be proud to call this home

17. 2018-12-05
    historical
18. 2017-12-06
    listed $129,900 Active
19. 2017-06-07
    historical
20. 2016-06-20
    listed $145,000 Active
21. 2015-03-21
    historical
22. 2014-11-25
    historical
23. 2014-11-25
    listed $125,000 Active
24. 2014-03-20
    listed $170,000 Active
25. 2005-05-13
    soldstatus $96,000
26. 1999-06-30
    soldstatus $30,000
27. 1982-05-01
    soldstatus $54,900

ⓘ 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 4/10 Moderate FEMA zone AH · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 32 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: $26,370
• − Mortgage interest: −$168
• − Property taxes: −$45
• − Insurance: −$1,840
• − Repairs & maintenance: −$2,110
• − Management: −$2,110
• − Depreciation: −$87
• Taxable income: $20,011
• Est. tax owed @ 24.0%: −$4,803
• After-tax cash flow: $13,956/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 — South Miami Heights

• Score: 78/100
• State rank: #169
• US rank: #2539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Miami Heights, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 70,596
• Household income: $81,589
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 2340.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 56% Two or more races 33% Black 19% White 19% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 30% Dominican 1%
• Common ancestry: Hispanic 2% Lithuanian 1% Romanian 1%
• Foreign-born: 42% · Canada, Jamaica, China
• Languages at home: 43% English-only · Spanish 52% French/Haitian/Cajun 2% 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: ▼ -457.85%
• Current HPI: 481.93
• Rent YoY: ▼ -0.75%
• 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

-94.5% since first listed

21 events — show timeline

• 2026-05-21 Listed $3,000 MARMLS
• 2022-01-06 Sold (Public Records) $295,000 Public Records
• 2021-12-29 Sold (MLS) $295,000 MARMLS
• 2021-12-16 Pending — MARMLS
• 2021-11-11 Contingent — MARMLS
• 2021-11-03 Listed $290,000 MARMLS
• 2019-10-29 Sold (Public Records) $127,000 Public Records
• 2019-09-13 Sold (MLS) $127,000 MARMLS
• 2019-08-14 Pending — MARMLS
• 2019-02-07 Listed $132,000 MARMLS
• 2018-12-05 Listing Removed — MARMLS
• 2017-12-06 Listed $129,900 MARMLS
• 2017-06-07 Listing Removed — MARMLS
• 2016-06-20 Listed $145,000 MARMLS
• 2015-03-21 Listing Removed — MARMLS
• 2014-11-25 Listing Removed — MARMLS
• 2014-11-25 Listed $125,000 MARMLS
• 2014-03-20 Listed $170,000 MARMLS
• 2005-05-13 Sold (Public Records) $96,000 Public Records
• 1999-06-30 Sold (Public Records) $30,000 Public Records
• 1982-05-01 Sold (Public Records) $54,900 Public Records

Property tax history

+9.4%/yr

Latest (2025): $4,367 · +4.8% YoY. Source: county tax records.