26435 SW 138th Ct · Naranja, FL 33032

$460,000

4 bd · 2.0 ba · 1,104 sqft · MultiFamily public records · 102 Days on market

Built 1970

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Why this score? — see what drove the C 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 +24.1/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Don't miss out on this great investment opportunity! Duplex- each unit has 2 bedrooms, 1 bathroom. Currently leased at $700 each. Currently per forma for the area is $1200.00 per unit. Each unit has their own power and water meter. Units are have ample space for parking in front and street parking, a lot of yard space, close to S Dixie Hwy and Turnpike. Please do not disturb the tenants. Sold as part of package (A10358488 & A10356689 - See Attachments) Other duplexes are available for sale in the area, please contact the listing agent via email for more information.

Key facts

• Generous lot
• Zoned for 6 units
• Two stories

Tags

• GENEROUS LOT
• ZONED FOR 6 UNITS
• TWO STORIES
• EXPANSION OPPORTUNITY
• STRONG INCOME POTENTIAL
• VALUE-ADD OPPORTUNITY

Property features AI

Finance

• Financial info: One unit is month-to-month; One unit reported current rent of $1,000; other unit rent listed as $0.00; Rent includes water and trash collection

Exterior

• Parking: Total of 6 parking spaces
• Utilities: Septic tank sewer; Cable not available
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Effective year built
• Exterior features: Quarter- to half-acre lot

Interior

• Bedrooms: Three 2-bedroom units (two units in Unit Type 1, one unit in Unit Type 2)
• Flooring: Ceramic tile; Laminate
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Electric heating; Ceiling fans; Wall/window air conditioning units
• Interior features: Ceramic tile flooring; Laminate flooring

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $460k.

Deal economics

• At list price, monthly cash flow is $761 ($9k/yr) — positive. Per door: $381/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $460k).
• Recommended offer: $419k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#634 in FL) — a middle-class / working-renter tenant base. Strengths: housing A, commute A-, cost of living A-; Watch: schools F, amenities F, employment 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); 589 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $5,048/mo this rent would consume 82% of the median local household income ($73k/yr) (locally 3351% 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 (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 102 days — a 9% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $160k; list at $460k implies a 188% gain — meaningful room to come down on a strong offer.

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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $418,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. 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: 1.10% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 7.6

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: -8.9%
• Equity multiple: 0.68×
• Total profit: $-40,741
• Equity at exit: $68,587

10-year hold

• IRR: -4.0%
• Equity multiple: 0.77×
• Total profit: $-29,785
• Equity at exit: $39,772

Cash invested: $128,800 (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 33032

• Home prices YoY: -29.8%
• Rents YoY: -1.0%
• Active inventory: 589
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $5,048 high
• Mortgage (P&I): −$2,412
• Tax from tax record: −$471 /mo · $5,648/yr
• Insurance: −$192
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,060
• Net cashflow: $761

Break-even live

Break-even rent $4,084

Max offer price $460,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,022	-5% $891	+0% $761	+5% $631	+10% $501
Rent	-10% $362	-5% $562	+0% $761	+5% $961	+10% $1,160
Rate	-1.0pp $993	-0.5pp $878	base $761	+0.5pp $642	+1.0pp $521

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$5,048
Total (2 units)			$5,048

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26633 SW 138th Ct #1 Homestead, FL	3.0	1.0	1311	$2,250	$1.72	25d	1	0.13mi
26633 SW 138th Ct Homestead, FL	3.0	1.0	1000	$2,500	$2.50	25d	1	0.14mi
13872 SW 262nd St Unit 13862 Naranja, FL	4.0	3.5	1436	$3,350	$2.33	25d	1	0.18mi
25936 SW 139th Path #25936 Naranja, FL	4.0	3.5	1434	$2,300	$1.60	25d	1	0.24mi
26231 SW 141st Pl #56 Homestead, FL	3.0	2.0	959	$2,400	$2.50	13d	1	0.32mi
13932 SW 259th Way #13932 Homestead, FL	4.0	3.5	1434	$2,950	$2.06	15d	1	0.35mi
13934 SW 259th Way Unit 13934 Homestead, FL	4.0	3.5	1434	$2,700	$1.88	25d	1	0.35mi
13944 SW 259th Way Homestead, FL	4.0	3.5	1434	$2,700	$1.88	25d	1	0.36mi
25901 SW 139th Ct Unit 25901 Homestead, FL	4.0	3.5	1434	$2,795	$1.95	25d	1	0.37mi
13414 SW 263rd St Unit 13414 Homestead, FL	3.0	2.5	1458	$2,700	$1.85	25d	1	0.39mi
25869 SW 139th Ct Homestead, FL	3.0	2.5	1266	$2,650	$2.09	25d	1	0.40mi
25876 SW 139th Ct Homestead, FL	4.0	3.5	1434	$2,775	$1.94	16d	1	0.40mi
25871 SW 139th Path Unit 25871 Naranja, FL	4.0	3.5	1434	$2,550	$1.78	22d	1	0.42mi
13960 SW 258th Ter Unit 13960 Homestead, FL	4.0	3.5	1434	$2,650	$1.85	23d	1	0.44mi
13867 SW 261st Ter Princeton, FL	4.0	3.5	1436	$3,750	$2.61	25d	1	0.46mi
13875 SW 261st Ter Princeton, FL	4.0	3.5	1436	$3,750	$2.61	25d	1	0.46mi
25850 SW 140th Ct Homestead, FL	1.0–3.0	1.0–2.0	1079	$3,330	$3.09	3d	38	0.47mi
13720 SW 272nd St Homestead, FL	1.0–3.0	1.0–2.0	988	$2,149	$2.17	0d	52	0.49mi
13471 SW 271st Ln Homestead, FL	3.0	2.0	1194	$2,350	$1.97	16d	1	0.53mi
25885 S Dixie Hwy Homestead, FL	3.0	2.0	1307	$2,535	$1.94	25d	1	0.53mi
27310 SW 138th Ct #27310 Homestead, FL	3.0	2.0	1235	$2,250	$1.82	23d	1	0.54mi
13710 SW 256th St Naranja, FL	1.0–3.0	1.0–2.0	854	$2,236	$2.62	4d	10	0.56mi
13840 SW 273rd Ter Homestead, FL	3.0	2.0	1235	$2,350	$1.90	23d	1	0.57mi
25912 SW 133rd Pl Homestead, FL	4.0	3.0	1289	$3,999	$3.10	25d	1	0.58mi
14530 SW 261st St Unit 2 Princeton, FL	3.0	2.0	1300	$2,790	$2.15	25d	1	0.68mi
14530 SW 261st St Unit 2 Princeton, FL	3.0	2.0	1300	$2,790	$2.15	9d	1	0.68mi
25707 SW 144th Ave Unit 25707 Princeton, FL	3.0	2.5	1398	$2,650	$1.90	16d	1	0.71mi
25779 SW 144th Ave #25779 Naranja, FL	4.0	3.5	1398	$3,600	$2.58	18d	1	0.75mi
25767 SW 144th Ave Homestead, FL	3.0	2.5	1398	$2,800	$2.00	20d	1	0.75mi
14474 SW 259th St Homestead, FL	4.0	3.5	1398	$2,900	$2.07	20d	1	0.76mi
14474 SW 259th St Homestead, FL	4.0	3.5	1398	$2,900	$2.07	25d	1	0.76mi
25810 SW 144th Ave #0 Princeton, FL	4.0	3.5	1398	$2,900	$2.07	19d	1	0.76mi
25680 SW 143rd Path Homestead, FL	4.0	3.5	1398	$2,800	$2.00	0d	1	0.78mi
25664 SW 143rd Path Unit 25664 Princeton, FL	3.0	2.5	1398	$2,350	$1.68	15d	1	0.78mi
25806 SW 144th Ct #25806 Princeton, FL	4.0	3.5	1398	$2,600	$1.86	25d	1	0.79mi
25806 SW 144th Ct #25806 Princeton, FL	4.0	3.5	1398	$2,500	$1.79	6d	1	0.79mi
25657 SW 144th Ave Unit 25657 Princeton, FL	3.0	2.0	1398	$2,500	$1.79	0d	1	0.80mi
26124 SW 145th Ct Homestead, FL	3.0	2.5	1398	$2,500	$1.79	25d	1	0.80mi
26124 SW 145th Ct Homestead, FL	3.0	2.0	1398	$2,500	$1.79	9d	1	0.80mi
13869 SW 261st Ter Unit 13835 Princeton, FL	4.0	3.5	1436	$3,900	$2.72	20d	1	0.84mi

Listing history 24 events

1. 2026-06-21
   days on market $460,000 Active 102 DOM
2. 2026-06-18
   days on market $460,000 Active 99 DOM
3. 2026-06-17
   days on market $460,000 Active 98 DOM
4. 2026-06-16
   days on market $460,000 Active 97 DOM
5. 2026-06-15
   days on market $460,000 Active 96 DOM
6. 2026-06-13
   days on market $460,000 Active 94 DOM
7. 2026-06-09
   days on market $460,000 Active 90 DOM
8. 2026-06-08
   days on market $460,000 Active 89 DOM
9. 2026-06-07
   days on market $460,000 Active 88 DOM
10. 2026-06-04
    days on market $460,000 Active 85 DOM
11. 2026-06-03
    days on market $460,000 Active 84 DOM
12. 2026-06-02
    days on market $460,000 Active 83 DOM
13. 2026-06-02
    pricestatus $460,000 Active 82 DOM
14. 2026-05-05
    status Pending
15. 2026-02-12
    listed $465,000 Active
16. 2018-06-21
    soldstatus $160,000
17. 2018-05-07
    soldstatus $169,900
18. 2018-05-02
    soldstatus $169,900 Sold 579-char remark

    Show marketing remark (579 chars)

    Don't miss out on this great investment opportunity! Duplex- each unit has 2 bedrooms, 1 bathroom. Currently leased at $700 each. Currently per forma for the area is $1200.00 per unit. Each unit has their own power and water meter. Units are have ample space for parking in front and street parking, a lot of yard space, close to S Dixie Hwy and Turnpike. Please do not disturb the tenants. Sold as part of package (A10358488 & A10356689 - See Attachments) Other duplexes are available for sale in the area, please contact the listing agent via email for more information.

19. 2018-04-04
    status Pending 579-char remark

    Show marketing remark (579 chars)

    Don't miss out on this great investment opportunity! Duplex- each unit has 2 bedrooms, 1 bathroom. Currently leased at $700 each. Currently per forma for the area is $1200.00 per unit. Each unit has their own power and water meter. Units are have ample space for parking in front and street parking, a lot of yard space, close to S Dixie Hwy and Turnpike. Please do not disturb the tenants. Sold as part of package (A10358488 & A10356689 - See Attachments) Other duplexes are available for sale in the area, please contact the listing agent via email for more information.

20. 2017-10-31
    price $169,900 579-char remark

    Show marketing remark (579 chars)

    Don't miss out on this great investment opportunity! Duplex- each unit has 2 bedrooms, 1 bathroom. Currently leased at $700 each. Currently per forma for the area is $1200.00 per unit. Each unit has their own power and water meter. Units are have ample space for parking in front and street parking, a lot of yard space, close to S Dixie Hwy and Turnpike. Please do not disturb the tenants. Sold as part of package (A10358488 & A10356689 - See Attachments) Other duplexes are available for sale in the area, please contact the listing agent via email for more information.

21. 2017-10-19
    listed $169,000
22. 2017-10-16
    listed $199,900 Active 579-char remark

    Show marketing remark (579 chars)

    Don't miss out on this great investment opportunity! Duplex- each unit has 2 bedrooms, 1 bathroom. Currently leased at $700 each. Currently per forma for the area is $1200.00 per unit. Each unit has their own power and water meter. Units are have ample space for parking in front and street parking, a lot of yard space, close to S Dixie Hwy and Turnpike. Please do not disturb the tenants. Sold as part of package (A10358488 & A10356689 - See Attachments) Other duplexes are available for sale in the area, please contact the listing agent via email for more information.

23. 2017-06-30
    soldstatus $119,900
24. 1983-06-01
    soldstatus $40,000

ⓘ 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: $5,648 · $471/mo
• Projected year-2 tax: $5,648 · $471/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 6/10 Major FEMA zone AH · 89% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 31 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: $60,576
• − Mortgage interest: −$25,767
• − Property taxes: −$5,648
• − Insurance: −$4,124
• − Repairs & maintenance: −$4,846
• − Management: −$4,846
• − Depreciation: −$13,382
• Taxable income: $1,963
• Est. tax owed @ 24.0%: −$471
• After-tax cash flow: $8,664/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 — Naranja

• Score: 65/100
• State rank: #634
• US rank: #12426

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Naranja, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 65,132
• Household income: $73,429
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 3351.0

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 (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 35% Black 20% White 10%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 31% Dominican 5%
• Common ancestry: Hispanic 3%
• Foreign-born: 45% · Canada, Jamaica, Dominican Republic
• Languages at home: 33% English-only · Spanish 64% French/Haitian/Cajun 2%

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: ▼ -176.52%
• Current HPI: 415.9508
• Rent YoY: ▼ -0.99%
• 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

+1062.5% since first listed

11 events — show timeline

• 2026-05-05 Pending — MARMLS
• 2026-02-12 Listed $465,000 MARMLS
• 2018-06-21 Sold (Public Records) $160,000 Public Records
• 2018-05-07 Sold (Public Records) $169,900 Public Records
• 2018-05-02 Sold (MLS) $169,900 MARMLS
• 2018-04-04 Pending — MARMLS
• 2017-10-31 Price Changed $169,900 MARMLS
• 2017-10-19 Listed $169,000 MARMLS
• 2017-10-16 Listed $199,900 MARMLS
• 2017-06-30 Sold (Public Records) $119,900 Public Records
• 1983-06-01 Sold (Public Records) $40,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $5,648 · +9.9% YoY. Source: county tax records.