10 SW South River Dr #607 · Miami, FL 33130

$352,500

1 bd · 1.0 ba · 782 sqft · Condo public records · 96 Days on market

Built 2003 $899/mo HOA · 25% of rent

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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).

• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• 1% rule +5.2/10.0
• 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
• DSCR +1.5/10.0

Listing remarks MLS

WOW! An absolutely incredible steal! NOT a short sale or REO. Purchased in 2007 for $230,000. Located near downtown and Brickell. Fabulous usage of space w/ 2 lofts, built-in desk, oversized balcony, high ceilings, 2 parking spaces, amazing granite kitchen w/ S. S. appliances. Pet friendly building includes Dog Park, Zen Garden, contemporary lobby, gym, tennis Cts, 24 hr concierge and valet parking.

Key facts

• Miami river views
• Private balcony
• Built-in mezzanine

Tags

• MIAMI RIVER VIEWS
• PRIVATE BALCONY
• BUILT-IN MEZZANINE
• BUILT-IN DESK NOOK
• MODERN GLASS ENCLOSURE
• RESORT-STYLE AMENITIES

Property features AI

Finance

• Financial info: Pets allowed (with size limit; more than 20 lbs permitted)
• HOA & community: Monthly association fee; Association fee includes amenities, common areas, hot water, structure maintenance, parking, pool(s), recreation facilities, sewer, security, trash, and water; Community amenities include billiard room, bike storage, business center, clubhouse, fitness center, pool, spa/hot tub, storage, tennis courts, and elevators

Exterior

• Parking: 2-car garage; Assigned parking; Two or more spaces; Valet; Secured garage/parking
• Security: Secured elevator; Secured lobby
• Utilities: Cable available
• Home design: Condo/Apartment (attached); 2 stories; Entry on level 6; Updated/remodeled; Has a view
• Construction: Block construction; Resale property
• Exterior features: Balcony (open); Association pool

Interior

• Kitchen: Dishwasher; Electric range; Garbage disposal; Microwave; Refrigerator
• Bedrooms: Loft (open loft area)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Living/dining room; Main level primary; Tub with shower; Loft; Blinds
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $352k.

Deal economics

• At list price, monthly cash flow is $-898 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (45.0% below list).
• Meets the 1% rule at list price ($4k rent vs $352k).
• Recommended offer: $194k (45.0% below list) — sets the bar for cash-flow.
• Cap rate 4.7% 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.
• Zoned schools: Riverside Elementary School (math 23% / reading 23%, grade F, #2,070 of 2,144 statewide, top 97%, 993 students, 56% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 61% FRL track the district average.
• Zoned-school proficiency averages 20% at this address vs 50% district-wide (-29 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 642 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $2k of loan paydown is wiped out by about $6k 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 96 days — a 9% lower offer ($321k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.
• Current owner paid $100k; list at $352k implies a 254% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 25% of rent.
• 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 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,897 (45.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.02% ✓
• Cap rate: 4.69%
• Cash-on-cash: -5.73%
• DSCR: 0.75
• GRM: 8.1

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: -29.0%
• Equity multiple: -0.07×
• Total profit: $-105,817
• Equity at exit: $71,921

10-year hold

• IRR: -32.9%
• Equity multiple: -0.89×
• Total profit: $-186,737
• Equity at exit: $64,795

Cash invested: $98,700 (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: 642
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $3,609 medium
• Mortgage (P&I): −$1,849
• Tax from tax record: −$428 /mo · $5,132/yr
• Insurance: −$147
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$899
• Vacancy / Maint / Mgmt: −$758
• Net cashflow: $-898

Break-even live

Break-even rent $4,745

Max offer price $193,897

Occupancy floor —

Sensitivity live

Price	-10% $-698	-5% $-798	+0% $-898	+5% $-998	+10% $-1,097
Rent	-10% $-1,183	-5% $-1,040	+0% $-898	+5% $-755	+10% $-613
Rate	-1.0pp $-720	-0.5pp $-808	base $-898	+0.5pp $-989	+1.0pp $-1,082

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: $88,125
• Closing costs: $10,575
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 NE 1st Ave Unit 1227496P Miami, FL	3.0	1.0–3.0	904	$8,354	$9.24	0d	4	0.83mi

HOA detail condo

• Monthly dues: $899 · $10,788/yr
• Likely covers: gymdoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-21
   days on market $352,500 Active 96 DOM
2. 2026-06-18
   days on market $352,500 Active 93 DOM
3. 2026-06-17
   days on market $352,500 Active 92 DOM
4. 2026-06-16
   days on market $352,500 Active 91 DOM
5. 2026-06-15
   days on market $352,500 Active 90 DOM
6. 2026-06-13
   pricedays on market $352,500 Active 88 DOM
7. 2026-06-09
   days on market $359,750 Active 84 DOM
8. 2026-06-08
   days on market $359,750 Active 83 DOM
9. 2026-06-07
   days on market $359,750 Active 82 DOM
10. 2026-06-04
    days on market $359,750 Active 79 DOM
11. 2026-06-03
    days on market $359,750 Active 78 DOM
12. 2026-06-02
    days on market $359,750 Active 77 DOM
13. 2026-06-01
    days on market $359,750 Active 76 DOM
14. 2026-05-31
    days on market $359,750 Active 75 DOM
15. 2026-03-17
    historical $2,550
16. 2026-03-17
    listed $359,750 Active
17. 2026-02-23
    listed $2,550
18. 2025-07-09
    historical $2,550
19. 2025-06-30
    historical
20. 2025-06-24
    price $2,550
21. 2025-06-11
    price $2,600
22. 2025-06-02
    price $365,000
23. 2025-05-23
    listed $2,800
24. 2025-04-08
    listed $375,500 Active
25. 2023-10-24
    historical $2,300
26. 2023-10-20
    price $2,300
27. 2023-10-12
    price $2,600
28. 2023-10-04
    price $2,700
29. 2023-09-20
    price $2,850
30. 2023-09-12
    price $2,900
31. 2023-08-29
    listed $2,950
32. 2011-10-17
    soldstatus $99,500 403-char remark

    Show marketing remark (403 chars)

    WOW! An absolutely incredible steal! NOT a short sale or REO. Purchased in 2007 for $230,000. Located near downtown and Brickell. Fabulous usage of space w/ 2 lofts, built-in desk, oversized balcony, high ceilings, 2 parking spaces, amazing granite kitchen w/ S. S. appliances. Pet friendly building includes Dog Park, Zen Garden, contemporary lobby, gym, tennis Cts, 24 hr concierge and valet parking.

33. 2007-08-15
    soldstatus $230,000
34. 2007-08-13
    soldstatus $230,000

ⓘ 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: $5,132 · $428/mo
• Projected year-2 tax: $5,132 · $428/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 6 d/yr ≥103°F today · 23 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: $43,303
• − Mortgage interest: −$19,745
• − Property taxes: −$5,132
• − Insurance: −$6,881
• − Repairs & maintenance: −$3,464
• − Management: −$3,464
• − HOA: −$10,788
• − Depreciation: −$10,255
• Taxable loss: −$16,426
• Est. tax savings @ 24.0%: +$3,942
• After-tax cash flow: $-6,832/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

-98.9% since first listed

20 events — show timeline

• 2026-03-17 Rental Removed $2,550 ZUMPER1
• 2026-03-17 Listed $359,750 MARMLS
• 2026-02-23 Listed for Rent $2,550 ZUMPER1
• 2025-07-09 Rental Removed $2,550 MARMLS
• 2025-06-30 Listing Removed — MARMLS
• 2025-06-24 Price Changed $2,550 MARMLS
• 2025-06-11 Price Changed $2,600 MARMLS
• 2025-06-02 Price Changed $365,000 MARMLS
• 2025-05-23 Listed for Rent $2,800 MARMLS
• 2025-04-08 Listed $375,500 MARMLS
• 2023-10-24 Rental Removed $2,300 MARMLS
• 2023-10-20 Price Changed $2,300 MARMLS
• 2023-10-12 Price Changed $2,600 MARMLS
• 2023-10-04 Price Changed $2,700 MARMLS
• 2023-09-20 Price Changed $2,850 MARMLS
• 2023-09-12 Price Changed $2,900 MARMLS
• 2023-08-29 Listed for Rent $2,950 MARMLS
• 2011-10-17 Sold (MLS) $99,500 MARMLS
• 2007-08-15 Sold (MLS) $230,000 MARMLS
• 2007-08-13 Sold (Public Records) $230,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $5,132 · +5.1% YoY. Source: county tax records.