35250 SW 177th Ct #48 · Florida City, FL 33034

$199,000

2 bd · 2.0 ba · 1,170 sqft · Condo public records · 12 Days on market

Built 1995 $175/mo HOA · 7% of rent

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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 +24.7/30.0
• DSCR +8.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience waterfront living in this spacious home located in the established, gated community of Gateway Estates. Offering a rare direct lakefront position, this property provides a peaceful backdrop and serene water views right from your backyard. Step past the shade of a magnificent ficus tree, through the charming screened front porch, and into a bright, open kitchen and living area. The home offers ultimate versatility, with a legally converted porch that serves as a third bedroom, home office, or extra living space. Enjoy total peace of mind with major mechanical upgrades, including a brand-new 3.5-ton AC system and a brand-new, professionally installed by FPL exterior power meter bui

Key facts

• Screened front porch
• Brand-new ac system
• 4,350 sq ft lot

Tags

• DIRECT LAKEFRONT POSITION
• SCREENED FRONT PORCH
• MAJOR MECHANICAL UPGRADES
• BRAND-NEW AC SYSTEM
• BUILT-IN BRICK CHARCOAL GRILL
• PREMIUM COMMUNITY AMENITIES

Property features AI

Finance

• Other: Community pool
• HOA & community: Monthly association fee of $175 covering recreation facilities and trash; Gated community with clubhouse and maintained grounds; Community pool

Exterior

• Parking: Carport with 2 spaces; Driveway; Parking pad; 2 covered parking spaces
• Security: Security gate; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Single-story; Faces east; Has a view; Fleetwood make/model
• Construction: Manufactured construction
• Exterior features: Patio; Screened porch; Enclosed porch; Awning(s); Barbecue; Shed(s)

Interior

• Kitchen: Electric range; Self-cleaning oven; Microwave; Dishwasher; Refrigerator; Pantry
• Bedrooms: Bedroom located on the main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Dual sinks; Pantry; Storage room
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Cap rate 8.8% vs local median 4.2% in Florida City — 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 65/100 on livability (#654 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, 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 (-2.9%/yr); 612 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2,487/mo this rent would consume 63% of the median local household income ($47k/yr) (locally 1516% 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 $1k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts 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 $42k; list at $199k implies a 374% 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 8→35/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,000

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 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?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.25% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.93%
• DSCR: 1.40
• GRM: 6.7

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: -11.6%
• Equity multiple: 0.60×
• Total profit: $-22,562
• Equity at exit: $29,672

10-year hold

• IRR: -8.7%
• Equity multiple: 0.55×
• Total profit: $-25,299
• Equity at exit: $17,206

Cash invested: $55,720 (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 33034

• Home prices YoY: -5.9%
• Rents YoY: -2.9%
• Active inventory: 612
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,487 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$175
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $263

Break-even live

Break-even rent $2,155

Max offer price $199,000

Occupancy floor 84%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35250 SW 177th Ct #140 Homestead, FL	3.0	2.0	850	$2,000	$2.35	10d	1	0.02mi
175 SW 7th St Florida City, FL	2.0–3.0	2.0	945	$1,975	$2.09	22d	1	0.11mi
82 SW 3rd Ct Florida City, FL	3.0	2.0	1275	$2,950	$2.31	14d	1	0.12mi
82 SW 3rd Ct Florida City, FL	3.0	2.0	1275	$2,950	$2.31	8d	1	0.12mi
582 SW 2nd Pl Homestead, FL	3.0	2.0	1276	$2,500	$1.96	24d	1	0.19mi
35250 SW 177th Ct Florida City, FL	2.0–3.0	1.5–2.0	780	$2,000	$2.56	14d	2	0.22mi
35303 SW 180th Ave #391 Homestead, FL	2.0	2.0	1170	$2,150	$1.84	24d	1	0.25mi
17854 SW 358th St Homestead, FL	3.0	2.5	1414	$2,400	$1.70	24d	1	0.39mi
17904 SW 358th St Homestead, FL	3.0	2.5	1450	$1,285	$0.89	4d	1	0.41mi
17851 SW 359 Ter Unit 17851 Homestead, FL	3.0	2.5	1326	$2,700	$2.04	24d	1	0.45mi
617 SW 11th St Homestead, FL	3.0	2.5	1466	$2,890	$1.97	24d	1	0.53mi
617 SW 11th St Homestead, FL	3.0	2.5	1466	$3,000	$2.05	2d	1	0.53mi
17982 SW 359th Ter Homestead, FL	3.0	2.5	1410	$2,890	$2.05	14d	1	0.53mi
1156 SW 6th Ct Unit 1156 Florida City, FL	3.0	2.5	1466	$2,450	$1.67	24d	1	0.59mi
639 SW 3rd Ter Homestead, FL	3.0	2.0	1175	$2,850	$2.43	22d	1	0.59mi
721 SW 11th St Homestead, FL	3.0	2.5	1466	$2,400	$1.64	14d	1	0.66mi
721 SW 11th St Homestead, FL	3.0	2.5	1466	$2,400	$1.64	10d	1	0.66mi
768 SW 9th St Homestead, FL	3.0	2.0	1099	$2,250	$2.05	24d	1	0.67mi
322 NE 1st Ave Unit 1 Florida City, FL	3.0	3.0	1376	$1,700	$1.24	24d	1	0.69mi
326 NE 1st Ave Unit 326 Florida City, FL	3.0	3.0	1376	$2,500	$1.82	24d	1	0.69mi
1116 SW 7th Ct Homestead, FL	3.0	2.5	1466	$2,600	$1.77	24d	1	0.70mi
1116 SW 7th Ct Homestead, FL	3.0	2.5	1466	$2,400	$1.64	2d	1	0.70mi
1181 SW 7th Ct Unit 1181 Florida City, FL	3.0	2.5	1466	$2,750	$1.88	24d	1	0.70mi
1170 SW 7th Ct #1170 Florida City, FL	3.0	2.5	1466	$2,500	$1.71	24d	1	0.71mi
408 NE 1st Dr Florida City, FL	3.0	3.0	1376	$2,700	$1.96	17d	1	0.73mi
377 NE 1st Dr Florida City, FL	3.0	2.5	1433	$2,800	$1.95	14d	1	0.74mi
334 NE 1st St Unit 334 Florida City, FL	3.0	2.5	1433	$2,800	$1.95	24d	1	0.75mi
848 SW 10th St Homestead, FL	3.0	2.0	1053	$2,200	$2.09	3d	1	0.75mi
937 SW 8th Pl Homestead, FL	3.0	2.0	1065	$2,100	$1.97	24d	1	0.76mi
377 NE 1st Ave Florida City, FL	3.0	2.5	1433	$2,800	$1.95	13d	1	0.76mi
902 SW 8th Pl Homestead, FL	3.0	2.5	1469	$2,900	$1.97	24d	1	0.76mi
444 NE 1st Dr Florida City, FL	3.0	2.5	1433	$2,700	$1.88	24d	1	0.76mi
441 NE 1st St Florida City, FL	3.0	3.0	1376	$2,300	$1.67	5d	1	0.76mi
504 NE 1st St Unit 504 Florida City, FL	3.0	3.0	1376	$3,000	$2.18	24d	1	0.76mi
822 SW 11th Ter Homestead, FL	3.0	2.5	1426	$3,000	$2.10	22d	1	0.77mi
149 NE 3rd St Florida City, FL	3.0	3.0	1376	$2,450	$1.78	24d	1	0.77mi
235 NE 3rd Ct Florida City, FL	3.0	3.0	1376	$2,800	$2.03	3d	1	0.77mi
235 NE 3rd Ct Florida City, FL	3.0	3.0	1376	$2,800	$2.03	24d	1	0.77mi
834 SW 11th Ter Unit 834 Florida City, FL	3.0	2.5	1381	$2,600	$1.88	24d	1	0.78mi
529 NE 1st Dr Florida City, FL	3.0	3.0	1376	$3,000	$2.18	24d	1	0.80mi

HOA detail condo

• Monthly dues: $175 · $2,100/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $199,000 Active 12 DOM
2. 2026-06-17
   days on market $199,000 Active 11 DOM
3. 2026-06-16
   days on market $199,000 Active 10 DOM
4. 2026-06-15
   days on market $199,000 Active 9 DOM
5. 2026-06-13
   days on market $199,000 Active 7 DOM
6. 2026-06-09
   days on market $199,000 Active 3 DOM
7. 2026-06-08
   days on market $199,000 Active 2 DOM
8. 2026-06-07
   days on marketlisting id $199,000 Active 1 DOM
9. 2026-06-03
   days on market $199,000 Active 146 DOM
10. 2026-06-02
    days on market $199,000 Active 145 DOM
11. 2026-06-01
    days on market $199,000 Active 144 DOM
12. 2026-05-31
    days on market $199,000 Active 143 DOM
13. 2026-02-02
    price $199,000
14. 2026-01-08
    listed $205,000 Active
15. 2025-12-19
    historical
16. 2025-09-05
    listed $205,000 Active
17. 2025-09-05
    historical
18. 2025-05-13
    price $205,000
19. 2025-03-10
    listed $210,000 Active
20. 2025-03-10
    historical
21. 2025-02-12
    status Active
22. 2025-01-08
    listed $210,000 Active
23. 2001-04-04
    soldstatus $42,000
24. 1998-05-14
    soldstatus $48,000

ⓘ 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 6/10 Major FEMA zone AH · 54% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥108°F today · 35 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: $29,849
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$2,820
• − Repairs & maintenance: −$2,388
• − Management: −$2,388
• − HOA: −$2,100
• − Depreciation: −$5,789
• Taxable income: $232
• Est. tax owed @ 24.0%: −$56
• After-tax cash flow: $3,097/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 — Florida City

• Score: 65/100
• State rank: #654
• US rank: #13036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami-Dade County · 2,697,751 people
• City population: 23,823
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 23,823
• Household income: $47,170
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 1516.0

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: Majority Hispanic (62%)
• Race & ethnicity: Hispanic / Latino 62% Black 28% Two or more races 24% White 8%
• Hispanic origin (detail): Mexican 20% Puerto Rican 5% Cuban 13% Dominican 2%
• Common ancestry: Hispanic 4%
• Foreign-born: 34% · Canada, Dominican Republic, Guatemala
• Languages at home: 38% English-only · Spanish 56% French/Haitian/Cajun 5%

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: ▼ -32.64%
• Current HPI: 521.6856
• Rent YoY: ▼ -2.85%
• 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

+314.6% since first listed

12 events — show timeline

• 2026-02-02 Price Changed $199,000 MARMLS
• 2026-01-08 Listed $205,000 MARMLS
• 2025-12-19 Listing Removed — MARMLS
• 2025-09-05 Listing Removed — MARMLS
• 2025-09-05 Listed $205,000 MARMLS
• 2025-05-13 Price Changed $205,000 MARMLS
• 2025-03-10 Listing Removed — MARMLS
• 2025-03-10 Listed $210,000 MARMLS
• 2025-02-12 Relisted — MARMLS
• 2025-01-08 Listed $210,000 MARMLS
• 2001-04-04 Sold (Public Records) $42,000 Public Records
• 1998-05-14 Sold (Public Records) $48,000 Public Records