3581 SW 117th Ave Unit 5-308 · Westchester, FL 33175

$263,000

1 bd · 1.0 ba · 760 sqft · Condo public records · 85 Days on market

Built 1981 $339/mo HOA · 15% 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).

• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• 1% rule +3.7/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

BEAUTIFUL 2/1 CONDO LOCATED ON THE 3RD FLOOR AT WESTBIRD VILLAGE CONDOMINIUM. STAINLESS STEEL APPLIANCES AND UPDATED KITCHEN. WATER AND RESERVES ARE INCLUDED IN THE MAINTENANCE. GATED COMMUNITY WITH POOL, CLUB HOUSE AND LAUNDRY FACILITY IN EACH FLOOR. NICE VIEW FROM BALCONY. ROOF WERE REPLACED RECENTLY AND THEY ARE IN THE PROCESS OF PAINTING ALL THE BUILDINGS. CONVENIENT LOCATED NEAR MANY RESTAURANTS, PUBLIX, HOME DEPOT, LEON MEDICAL CENTER, KENDALL REGIONAL HOSPITAL, FIU AND THE TURNPIKE ENTRANCE. PRESS 5308 AT THE GATE TO ENTER. VACANT!!! SUPER EASY TO SHOW!!!

Key facts

• Gated community
• Updated kitchen
• Pool

Tags

• STAINLESS STEEL APPLIANCES
• UPDATED KITCHEN
• GATED COMMUNITY
• POOL
• CLUB HOUSE
• LAUNDRY FACILITY

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association fee covers common areas, laundry, structure maintenance, parking, pool(s), reserve fund, roof, and water; Community amenities include clubhouse, laundry, and elevators

Exterior

• Parking: Assigned parking (one space)
• Security: Complex fenced; Key card entry; Phone entry
• Utilities: Cable available
• Home design: Attached property; 1 story unit in a 5-story building; Entry located on level 3
• Construction: Block construction; Resale property
• Exterior features: Balcony (open)

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fan(s)
• Interior features: Unfurnished; Living/dining room; Main living area on entry level
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $263k.

Deal economics

• At list price, monthly cash flow is $-349 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (23.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (12.9% below list).
• Recommended offer: $201k (23.5% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 3.4% in Westchester — 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 85/100 on livability (#26 in FL, #589 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, health & safety A+; Watch: cost of living D.
• 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 rising fast (+4.2%/yr); 188 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 35% of the median local income ($78k/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 $2k of loan paydown is wiped out by about $8k 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 85 days — a 6% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask is 12729% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,296 (23.5% 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 85 days. Have you received any prior offers? Is the seller open to a 23% 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 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?
9. 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?
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: 0.87% ✗
• Cap rate: 5.00%
• Cash-on-cash: -4.61%
• DSCR: 0.79
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.19% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.16×
• Total profit: $-61,843
• Equity at exit: $39,214

10-year hold

• IRR: -15.8%
• Equity multiple: 0.05×
• Total profit: $-69,834
• Equity at exit: $22,739

Cash invested: $73,640 (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 33175

• Rents YoY: 4.2%
• Active inventory: 188
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,291 high
• Mortgage (P&I): −$1,379
• Tax from tax record: −$265 /mo · $3,182/yr
• Insurance: −$110
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$339
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $-349

Break-even live

Break-even rent $2,733

Max offer price $201,296

Occupancy floor —

Sensitivity live

Price	-10% $-200	-5% $-275	+0% $-349	+5% $-424	+10% $-498
Rent	-10% $-530	-5% $-440	+0% $-349	+5% $-259	+10% $-168
Rate	-1.0pp $-217	-0.5pp $-282	base $-349	+0.5pp $-417	+1.0pp $-487

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: $65,750
• Closing costs: $7,890
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3561 SW 117th Ave Unit 7-408 Miami, FL	2.0	2.0	982	$2,350	$2.39	18d	1	0.05mi
3901 SW 112th Ave #14 Miami, FL	1.0	1.0	558	$1,850	$3.32	6d	1	0.47mi
3901 SW 112th Ave #14 Miami, FL	1.0	1.0	558	$1,900	$3.41	22d	1	0.47mi
3901 SW 109th Ave Unit 4 Miami, FL	1.0	1.0	647	$1,900	$2.94	25d	1	0.69mi
3901 SW 109th Ave Unit A-10 Miami, FL	1.0	1.0	629	$1,800	$2.86	25d	1	0.71mi
11790 SW 18th St Unit 429-3 Miami, FL	2.0	2.0	898	$2,200	$2.45	25d	1	0.92mi
11800 SW 18th St Unit 108 Miami, FL	2.0	2.0	898	$2,250	$2.51	6d	1	0.94mi
11800 SW 18th St Unit 517-4 Miami, FL	2.0	2.0	898	$2,250	$2.51	8d	1	0.95mi
11800 SW 18th St Unit 409-4 Miami, FL	2.0	2.0	898	$2,300	$2.56	25d	1	0.95mi
2075 SW 122nd Ave Miami, FL	2.0	2.0	910	$2,275	$2.50	3d	2	0.97mi
12227 SW 24th Ter #30 Miami, FL	2.0	2.0	951	$3,050	$3.21	25d	1	1.00mi
12227 SW 24th Ter #30 Miami, FL	2.0	2.0	951	$3,050	$3.21	4d	1	1.00mi
11780 SW 18th St Unit 214-2 Miami, FL	2.0	2.0	898	$2,150	$2.39	25d	1	1.00mi
2055 SW 122nd Ave #507 Miami, FL	2.0	2.0	910	$2,300	$2.53	25d	1	1.00mi
11780 SW 18th St Unit 202-2 Miami, FL	1.0	1.0	708	$1,950	$2.75	25d	1	1.01mi
11750 SW 18th St #401 Miami, FL	1.0	1.0	708	$2,000	$2.82	25d	1	1.06mi
11750 SW 18th St Unit 401-1 Miami, FL	1.0	1.0	708	$2,000	$2.82	22d	1	1.06mi
11750 SW 18th St Unit 422-1 Miami, FL	1.0	1.0	708	$1,800	$2.54	25d	1	1.06mi
1900 SW 122nd Ave Miami, FL	2.0	2.0	830	$2,380	$2.87	25d	1	1.14mi
11715 SW 18th St #410 Miami, FL	2.0	2.0	954	$2,500	$2.62	25d	1	1.15mi
11789 SW 18th St Unit 4-30 Miami, FL	2.0	1.5	823	$2,300	$2.79	17d	1	1.18mi
11789 SW 18th St Unit 2-30 Miami, FL	1.0	1.5	624	$2,000	$3.21	13d	1	1.18mi
11841 SW 18th St Unit 4-21 Miami, FL	2.0	2.5	958	$2,500	$2.61	25d	1	1.20mi
12035 SW 18th St Unit 9-48 Miami, FL	2.0	1.5	823	$2,500	$3.04	18d	1	1.22mi
12245 SW 18th Ter Unit C Miami, FL	2.0	2.0	1040	$2,673	$2.57	25d	1	1.23mi
12337 SW 20th Ter Unit B Miami, FL	1.0	1.0	982	$1,350	$1.37	15d	1	1.26mi
12337 SW 20th Ter Unit B Miami, FL	1.0	1.0	982	$1,350	$1.37	4d	1	1.26mi
1595 SW 122nd Ave Unit 4-5 Miami, FL	2.0	2.5	958	$2,750	$2.87	25d	1	1.29mi
1595 SW 122nd Ave Miami, FL	2.0	1.5	954	$2,749	$2.88	8d	1	1.29mi
5310 SW 115th Ave Miami, FL	2.0	1.0	600	$2,500	$4.17	22d	1	1.30mi
5310 SW 115th Ave Miami, FL	2.0	1.0	990	$2,350	$2.37	3d	1	1.30mi
11040 SW 52nd Dr Miami, FL	2.0	1.0	808	$2,900	$3.59	25d	1	1.34mi
3800 SW 102nd Ave Miami, FL	1.0	1.0	632	$1,850	$2.93	25d	2	1.35mi
10370 SW 24th St Unit B Miami, FL	2.0	1.0	750	$2,050	$2.73	18d	1	1.38mi
10300 SW 24th St Unit B33 Miami, FL	2.0	1.5	830	$2,400	$2.89	25d	1	1.41mi
1817 SW 107th Ave #1807 Miami, FL	2.0	1.5	828	$2,500	$3.02	25d	1	1.42mi
1811 SW 107th Ave #2302 Miami, FL	1.0	1.5	669	$2,050	$3.06	6d	1	1.46mi
1811 SW 107th Ave #2302 Miami, FL	1.0	1.5	669	$2,100	$3.14	25d	1	1.46mi
1121 SW 122nd Ave Unit 412-2 Miami, FL	2.0	2.0	900	$2,300	$2.56	8d	1	1.48mi

HOA detail condo

• Monthly dues: $339 · $4,068/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $263,000 Active 85 DOM
2. 2026-06-17
   days on market $263,000 Active 84 DOM
3. 2026-06-16
   days on market $263,000 Active 83 DOM
4. 2026-06-15
   days on market $263,000 Active 82 DOM
5. 2026-06-13
   days on market $263,000 Active 80 DOM
6. 2026-06-09
   days on market $263,000 Active 76 DOM
7. 2026-06-08
   days on market $263,000 Active 75 DOM
8. 2026-06-07
   days on market $263,000 Active 74 DOM
9. 2026-06-04
   days on market $263,000 Active 71 DOM
10. 2026-06-03
    days on market $263,000 Active 70 DOM
11. 2026-06-02
    days on market $263,000 Active 69 DOM
12. 2026-06-01
    days on market $263,000 Active 68 DOM
13. 2026-05-31
    days on market $263,000 Active 67 DOM
14. 2026-05-14
    listed $2,050
15. 2026-03-25
    listed $263,000 Active
16. 2024-03-31
    historical
17. 2024-01-05
    status Active
18. 2023-12-26
    historical Active Under Contract
19. 2023-12-08
    status Active
20. 2023-11-21
    historical Active Under Contract
21. 2023-10-18
    price $270,000
22. 2023-09-08
    listed $275,000 Active
23. 2005-05-13
    soldstatus $24,000,000

ⓘ 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: $3,182 · $265/mo
• Projected year-2 tax: $3,182 · $265/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 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 30 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: $27,495
• − Mortgage interest: −$14,732
• − Property taxes: −$3,182
• − Insurance: −$2,112
• − Repairs & maintenance: −$2,200
• − Management: −$2,200
• − HOA: −$4,068
• − Depreciation: −$7,651
• Taxable loss: −$8,649
• Est. tax savings @ 24.0%: +$2,076
• After-tax cash flow: $-2,116/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 — Westchester

• Score: 85/100
• State rank: #26
• US rank: #589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westchester, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 50,471
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 48,237
• Household income: $77,841
• Rent vs Own: 21.2% rent · 78.8% own
• Severe rent burden: 1270.0

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 (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 46% White 6% Asian 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 72%
• Common ancestry: Italian 1%
• Foreign-born: 67% · Canada, Jamaica, Dominican Republic
• Languages at home: 8% English-only · Spanish 89% Other Indo-European 1% Tagalog/Filipino 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: ▼ -528.20%
• Current HPI: 459.1413
• Rent YoY: ▲ 4.19%
• 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

-100.0% since first listed

10 events — show timeline

• 2026-05-14 Listed for Rent $2,050 MARMLS
• 2026-03-25 Listed $263,000 MARMLS
• 2024-03-31 Listing Removed — MARMLS
• 2024-01-05 Relisted — MARMLS
• 2023-12-26 Contingent — MARMLS
• 2023-12-08 Relisted — MARMLS
• 2023-11-21 Contingent — MARMLS
• 2023-10-18 Price Changed $270,000 MARMLS
• 2023-09-08 Listed $275,000 MARMLS
• 2005-05-13 Sold (Public Records) $24,000,000 Public Records

Property tax history

+15.5%/yr

Latest (2025): $3,182 · +2.3% YoY. Source: county tax records.