546 SW 1st St #603 · Miami, FL 33130

$225,000

2 bd · 1.0 ba · 791 sqft · Condo public records · 9 Days on market

Built 1988 $260/mo HOA · 6% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Appreciation +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks MLS

Amazing opportunity to own a 2bed/ 1 bath condo unit in East Little Havana! Well-maintained and occupied by one owner. Spectacular unobstructed city views and within walking distance to Downtown Miami, park amenities, Publix, and Brickell City Center shopping mall. Easy trolley access and public transportation. Low monthly maintenance, gated secured, assigned parking space with remote access control, laundry facility on every floor. Pet-friendly building. Live or invest in an on-demand area with limited inventory under this price range. Easy to show. Unit can be rented.

Key facts

• Gated entry
• Assigned parking
• $260 HOA

Tags

• DOWNTOWN MIAMI SKYLINE VIEWS
• GATED ENTRY
• ASSIGNED PARKING
• LAUNDRY ON EVERY FLOOR
• PET-FRIENDLY COMMUNITY
• YEARLY RENTALS ALLOWED

Property features AI

Finance

• Other: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee of $210; Association fee includes parking, trash, and water; Community amenities include cabana and elevators

Exterior

• Parking: 1-car garage with garage door opener; One covered parking space
• Security: Complex is fenced; Secured elevator; Lobby access secured; Key card entry; Phone entry; Fire alarm; Fire sprinkler system
• Utilities: Central heating and cooling
• Home design: Attached property; 6 total stories; Entry located on level 6; Effective year built
• Construction: Block construction
• Exterior features: Fence

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Trash compactor
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: French doors; Kitchen island; Built-in bar; Custom mirrors; Fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $225k).
• Cap rate 16.1% 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.

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.
• Market conditions: Rents soft (-0.5%/yr); 639 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,685/mo this rent would consume 92% of the median local household income ($61k/yr) (locally 5231% 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 (-1.8%/yr); year-one equity from $2k of loan paydown is wiped out by about $4k 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 (-1.8% appreciation + 0.0% rent growth), your $63k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,000

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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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. 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.
8. 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.
9. 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: 2.08% ✓
• Cap rate: 16.05%
• Cash-on-cash: 34.86%
• DSCR: 2.55
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.79% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.82×
• Total profit: $51,347
• Equity at exit: $45,907

10-year hold

• IRR: 23.4%
• Equity multiple: 2.89×
• Total profit: $119,375
• Equity at exit: $41,358

Cash invested: $63,000 (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 33130

• Home prices YoY: -0.5%
• Rents YoY: -0.5%
• Active inventory: 639
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $4,685 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$337 /mo · $4,047/yr
• Insurance: −$94
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$260
• Vacancy / Maint / Mgmt: −$984
• Net cashflow: $1,404

Break-even live

Break-even rent $2,908

Max offer price $225,000

Occupancy floor 65%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Likely covers: securityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $225,000 Active 9 DOM
2. 2026-06-17
   days on market $225,000 Active 8 DOM
3. 2026-06-16
   days on market $225,000 Active 7 DOM
4. 2026-06-15
   days on market $225,000 Active 6 DOM
5. 2026-06-13
   days on market $225,000 Active 4 DOM
6. 2026-06-10
   pricedays on marketlisting id $225,000 Active 1 DOM
7. 2026-06-07
   days on market $240,000 Active 171 DOM
8. 2026-06-04
   remarks 667-char remark
9. 2026-06-04
   days on market $240,000 Active 168 DOM
10. 2026-06-03
    days on market $240,000 Active 167 DOM
11. 2026-06-02
    days on market $240,000 Active 166 DOM
12. 2026-06-01
    days on market $240,000 Active 165 DOM
13. 2026-05-31
    days on market $240,000 Active 164 DOM
14. 2026-04-22
    price $240,000
15. 2026-02-23
    price $251,000
16. 2025-12-18
    listed $265,000 Active
17. 2023-07-21
    soldstatus $250,000
18. 2023-06-30
    soldstatus $250,000 Closed 576-char remark

    Show marketing remark (576 chars)

    Amazing opportunity to own a 2bed/ 1 bath condo unit in East Little Havana! Well-maintained and occupied by one owner. Spectacular unobstructed city views and within walking distance to Downtown Miami, park amenities, Publix, and Brickell City Center shopping mall. Easy trolley access and public transportation. Low monthly maintenance, gated secured, assigned parking space with remote access control, laundry facility on every floor. Pet-friendly building. Live or invest in an on-demand area with limited inventory under this price range. Easy to show. Unit can be rented.

19. 2023-05-26
    status Pending 576-char remark

    Show marketing remark (576 chars)

    Amazing opportunity to own a 2bed/ 1 bath condo unit in East Little Havana! Well-maintained and occupied by one owner. Spectacular unobstructed city views and within walking distance to Downtown Miami, park amenities, Publix, and Brickell City Center shopping mall. Easy trolley access and public transportation. Low monthly maintenance, gated secured, assigned parking space with remote access control, laundry facility on every floor. Pet-friendly building. Live or invest in an on-demand area with limited inventory under this price range. Easy to show. Unit can be rented.

20. 2023-04-17
    status Active 576-char remark

    Show marketing remark (576 chars)

    Amazing opportunity to own a 2bed/ 1 bath condo unit in East Little Havana! Well-maintained and occupied by one owner. Spectacular unobstructed city views and within walking distance to Downtown Miami, park amenities, Publix, and Brickell City Center shopping mall. Easy trolley access and public transportation. Low monthly maintenance, gated secured, assigned parking space with remote access control, laundry facility on every floor. Pet-friendly building. Live or invest in an on-demand area with limited inventory under this price range. Easy to show. Unit can be rented.

21. 2022-12-31
    status Pending 576-char remark

    Show marketing remark (576 chars)

    Amazing opportunity to own a 2bed/ 1 bath condo unit in East Little Havana! Well-maintained and occupied by one owner. Spectacular unobstructed city views and within walking distance to Downtown Miami, park amenities, Publix, and Brickell City Center shopping mall. Easy trolley access and public transportation. Low monthly maintenance, gated secured, assigned parking space with remote access control, laundry facility on every floor. Pet-friendly building. Live or invest in an on-demand area with limited inventory under this price range. Easy to show. Unit can be rented.

22. 2022-11-18
    listed $249,000 Active 576-char remark

    Show marketing remark (576 chars)

    Amazing opportunity to own a 2bed/ 1 bath condo unit in East Little Havana! Well-maintained and occupied by one owner. Spectacular unobstructed city views and within walking distance to Downtown Miami, park amenities, Publix, and Brickell City Center shopping mall. Easy trolley access and public transportation. Low monthly maintenance, gated secured, assigned parking space with remote access control, laundry facility on every floor. Pet-friendly building. Live or invest in an on-demand area with limited inventory under this price range. Easy to show. Unit can be rented.

23. 1988-12-01
    soldstatus $46,000

ⓘ 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: $4,047 · $337/mo
• Projected year-2 tax: $4,047 · $337/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 29 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: $56,218
• − Mortgage interest: −$12,603
• − Property taxes: −$4,047
• − Insurance: −$6,244
• − Repairs & maintenance: −$4,497
• − Management: −$4,497
• − HOA: −$3,120
• − Depreciation: −$6,545
• Taxable income: $14,663
• Est. tax owed @ 24.0%: −$3,519
• After-tax cash flow: $13,323/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 — 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 · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 34,964
• Household income: $61,009
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 5231.0

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 (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 44% White 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 24% Dominican 4%
• Common ancestry: Romanian 2% Estonian 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, Guatemala
• Languages at home: 23% English-only · Spanish 70% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -1.79%
• Current HPI: 344.7752
• Rent YoY: ▼ -0.53%
• 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

+421.7% since first listed

10 events — show timeline

• 2026-04-22 Price Changed $240,000 MARMLS
• 2026-02-23 Price Changed $251,000 MARMLS
• 2025-12-18 Listed $265,000 MARMLS
• 2023-07-21 Sold (Public Records) $250,000 Public Records
• 2023-06-30 Sold (MLS) $250,000 MARMLS
• 2023-05-26 Pending — MARMLS
• 2023-04-17 Relisted — MARMLS
• 2022-12-31 Pending — MARMLS
• 2022-11-18 Listed $249,000 MARMLS
• 1988-12-01 Sold (Public Records) $46,000 Public Records

Property tax history

+15.3%/yr

Latest (2025): $4,047 · -6.2% YoY. Source: county tax records.