10 SW South River Dr #909 · Miami, FL 33130

$399,000

2 bd · 2.0 ba · 1,000 sqft · Condo public records · 55 Days on market

Built 2003 $1150/mo HOA · 26% of rent

---

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 +7.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• 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 +1.6/10.0

Listing remarks MLS

Completely Renovated 2 Bedroom /2 Bathroom Loft Style Condo in the Heart of Miami. Located Right on the Miami River, This Updated Unit Features a Brand New Kitchen with Stainless Steel Appliances, Brand New Cabinets, and Granite Countertops. Polished Concrete Floors Through Out. Building Features Many Amenities Such as Pool and Gym. Open Balcony Faces Miami River and Downtown Miami Skyline. Location Offers Easy Access to All Major Roadways, Shopping, Schools, Nightlife, Dining, Public Transportation, Public Parks and Much More!

Key facts

• Mid tower location
• Miami river views
• Covered balcony

Tags

• MIAMI RIVER VIEWS
• COVERED BALCONY
• FLEXIBLE BLANK CANVAS
• TRUE SQUARE FLOOR PLAN
• MID TOWER LOCATION
• FULL SERVICE BUILDING

Property features AI

Finance

• Other: Has view
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee includes amenities, internet, and structure maintenance; Association amenities include pool and spa/hot tub

Exterior

• Parking: Attached carport (covered); 1 covered space; Garage with 1 space; Garage door opener; On-street parking; Electric vehicle charging station(s)
• Security: Security guard; Fire sprinkler system; Smoke detectors
• Utilities: Central water heater (electric)
• Home design: Condominium/attached property; Faces southeast; Entry located on level 9; 20-story building
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio; Security/high impact doors

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Self-cleaning oven; Disposal; Eat-in kitchen
• Bedrooms: Den; Florida room; Loft; Other
• Flooring: Concrete; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; French doors; French door(s)/atrium door(s); Vaulted ceilings; Bar; Elevator; Loft; Eat-in kitchen; Family/Dining room; Living/Dining room; Tub/shower
• 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 $399k.

Deal economics

• At list price, monthly cash flow is $-924 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (40.9% below list).
• Meets the 1% rule at list price ($4k rent vs $399k).
• Recommended offer: $236k (40.9% below list) — sets the bar for cash-flow.
• Cap rate 4.8% 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 $4,379/mo this rent would consume 86% 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 $3k of loan paydown is wiped out by about $7k 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 55 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $295k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 26% 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 $235,693 (40.9% 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 55 days. Have you received any prior offers? Is the seller open to a 41% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.10% ✓
• Cap rate: 4.80%
• Cash-on-cash: -5.35%
• DSCR: 0.76
• GRM: 7.6

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: -27.7%
• Equity multiple: -0.03×
• Total profit: $-114,701
• Equity at exit: $81,408

10-year hold

• IRR: -31.5%
• Equity multiple: -0.81×
• Total profit: $-202,389
• Equity at exit: $73,342

Cash invested: $111,720 (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 33130

• Home prices YoY: -0.5%
• Rents YoY: -0.5%
• Active inventory: 639
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $4,379 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$549 /mo · $6,587/yr
• Insurance: −$166
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,150
• Vacancy / Maint / Mgmt: −$920
• Net cashflow: $-924

Break-even live

Break-even rent $5,549

Max offer price $235,693

Occupancy floor —

Sensitivity live

Price	-10% $-699	-5% $-812	+0% $-924	+5% $-1,037	+10% $-1,150
Rent	-10% $-1,270	-5% $-1,097	+0% $-924	+5% $-751	+10% $-578
Rate	-1.0pp $-724	-0.5pp $-823	base $-924	+0.5pp $-1,028	+1.0pp $-1,133

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $1,150 · $13,800/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $399,000 Active 55 DOM
2. 2026-06-17
   days on market $399,000 Active 54 DOM
3. 2026-06-16
   days on market $399,000 Active 53 DOM
4. 2026-06-15
   days on market $399,000 Active 52 DOM
5. 2026-06-13
   days on market $399,000 Active 50 DOM
6. 2026-06-09
   days on market $399,000 Active 46 DOM
7. 2026-06-08
   days on market $399,000 Active 45 DOM
8. 2026-06-07
   days on market $399,000 Active 44 DOM
9. 2026-06-04
   days on market $399,000 Active 41 DOM
10. 2026-06-03
    days on market $399,000 Active 40 DOM
11. 2026-06-02
    days on market $399,000 Active 39 DOM
12. 2026-06-01
    days on market $399,000 Active 38 DOM
13. 2026-05-31
    days on market $399,000 Active 37 DOM
14. 2026-04-24
    status Active
15. 2026-04-24
    historical
16. 2026-04-24
    historical
17. 2026-02-21
    price $399,000
18. 2026-02-21
    listed $425,000 Active
19. 2026-02-21
    listed $399,000 Active
20. 2021-06-04
    soldstatus $295,000 Closed 533-char remark

    Show marketing remark (533 chars)

    Completely Renovated 2 Bedroom /2 Bathroom Loft Style Condo in the Heart of Miami. Located Right on the Miami River, This Updated Unit Features a Brand New Kitchen with Stainless Steel Appliances, Brand New Cabinets, and Granite Countertops. Polished Concrete Floors Through Out. Building Features Many Amenities Such as Pool and Gym. Open Balcony Faces Miami River and Downtown Miami Skyline. Location Offers Easy Access to All Major Roadways, Shopping, Schools, Nightlife, Dining, Public Transportation, Public Parks and Much More!

21. 2021-05-05
    status Pending 533-char remark

    Show marketing remark (533 chars)

    Completely Renovated 2 Bedroom /2 Bathroom Loft Style Condo in the Heart of Miami. Located Right on the Miami River, This Updated Unit Features a Brand New Kitchen with Stainless Steel Appliances, Brand New Cabinets, and Granite Countertops. Polished Concrete Floors Through Out. Building Features Many Amenities Such as Pool and Gym. Open Balcony Faces Miami River and Downtown Miami Skyline. Location Offers Easy Access to All Major Roadways, Shopping, Schools, Nightlife, Dining, Public Transportation, Public Parks and Much More!

22. 2021-04-22
    price $299,000 533-char remark

    Show marketing remark (533 chars)

    Completely Renovated 2 Bedroom /2 Bathroom Loft Style Condo in the Heart of Miami. Located Right on the Miami River, This Updated Unit Features a Brand New Kitchen with Stainless Steel Appliances, Brand New Cabinets, and Granite Countertops. Polished Concrete Floors Through Out. Building Features Many Amenities Such as Pool and Gym. Open Balcony Faces Miami River and Downtown Miami Skyline. Location Offers Easy Access to All Major Roadways, Shopping, Schools, Nightlife, Dining, Public Transportation, Public Parks and Much More!

23. 2021-03-19
    price $303,900 533-char remark

    Show marketing remark (533 chars)

    Completely Renovated 2 Bedroom /2 Bathroom Loft Style Condo in the Heart of Miami. Located Right on the Miami River, This Updated Unit Features a Brand New Kitchen with Stainless Steel Appliances, Brand New Cabinets, and Granite Countertops. Polished Concrete Floors Through Out. Building Features Many Amenities Such as Pool and Gym. Open Balcony Faces Miami River and Downtown Miami Skyline. Location Offers Easy Access to All Major Roadways, Shopping, Schools, Nightlife, Dining, Public Transportation, Public Parks and Much More!

24. 2021-02-19
    price $309,900 533-char remark

    Show marketing remark (533 chars)

    Completely Renovated 2 Bedroom /2 Bathroom Loft Style Condo in the Heart of Miami. Located Right on the Miami River, This Updated Unit Features a Brand New Kitchen with Stainless Steel Appliances, Brand New Cabinets, and Granite Countertops. Polished Concrete Floors Through Out. Building Features Many Amenities Such as Pool and Gym. Open Balcony Faces Miami River and Downtown Miami Skyline. Location Offers Easy Access to All Major Roadways, Shopping, Schools, Nightlife, Dining, Public Transportation, Public Parks and Much More!

25. 2021-02-12
    status Active 533-char remark

    Show marketing remark (533 chars)

    Completely Renovated 2 Bedroom /2 Bathroom Loft Style Condo in the Heart of Miami. Located Right on the Miami River, This Updated Unit Features a Brand New Kitchen with Stainless Steel Appliances, Brand New Cabinets, and Granite Countertops. Polished Concrete Floors Through Out. Building Features Many Amenities Such as Pool and Gym. Open Balcony Faces Miami River and Downtown Miami Skyline. Location Offers Easy Access to All Major Roadways, Shopping, Schools, Nightlife, Dining, Public Transportation, Public Parks and Much More!

26. 2021-01-26
    status Pending 533-char remark

    Show marketing remark (533 chars)

    Completely Renovated 2 Bedroom /2 Bathroom Loft Style Condo in the Heart of Miami. Located Right on the Miami River, This Updated Unit Features a Brand New Kitchen with Stainless Steel Appliances, Brand New Cabinets, and Granite Countertops. Polished Concrete Floors Through Out. Building Features Many Amenities Such as Pool and Gym. Open Balcony Faces Miami River and Downtown Miami Skyline. Location Offers Easy Access to All Major Roadways, Shopping, Schools, Nightlife, Dining, Public Transportation, Public Parks and Much More!

27. 2021-01-17
    price $314,900 533-char remark

    Show marketing remark (533 chars)

    Completely Renovated 2 Bedroom /2 Bathroom Loft Style Condo in the Heart of Miami. Located Right on the Miami River, This Updated Unit Features a Brand New Kitchen with Stainless Steel Appliances, Brand New Cabinets, and Granite Countertops. Polished Concrete Floors Through Out. Building Features Many Amenities Such as Pool and Gym. Open Balcony Faces Miami River and Downtown Miami Skyline. Location Offers Easy Access to All Major Roadways, Shopping, Schools, Nightlife, Dining, Public Transportation, Public Parks and Much More!

28. 2020-12-15
    listed $331,800 Active 533-char remark

    Show marketing remark (533 chars)

    Completely Renovated 2 Bedroom /2 Bathroom Loft Style Condo in the Heart of Miami. Located Right on the Miami River, This Updated Unit Features a Brand New Kitchen with Stainless Steel Appliances, Brand New Cabinets, and Granite Countertops. Polished Concrete Floors Through Out. Building Features Many Amenities Such as Pool and Gym. Open Balcony Faces Miami River and Downtown Miami Skyline. Location Offers Easy Access to All Major Roadways, Shopping, Schools, Nightlife, Dining, Public Transportation, Public Parks and Much More!

29. 2005-11-16
    soldstatus $359,900

ⓘ 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: $6,587 · $549/mo
• Projected year-2 tax: $6,587 · $549/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: $52,552
• − Mortgage interest: −$22,350
• − Property taxes: −$6,587
• − Insurance: −$7,114
• − Repairs & maintenance: −$4,204
• − Management: −$4,204
• − HOA: −$13,800
• − Depreciation: −$11,607
• Taxable loss: −$17,314
• Est. tax savings @ 24.0%: +$4,155
• After-tax cash flow: $-6,938/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

+10.9% since first listed

16 events — show timeline

• 2026-04-24 Relisted — MARMLS
• 2026-04-24 Listing Removed — MARMLS
• 2026-04-24 Listing Removed — MARMLS
• 2026-02-21 Price Changed $399,000 MARMLS
• 2026-02-21 Listed $399,000 MARMLS
• 2026-02-21 Listed $425,000 MARMLS
• 2021-06-04 Sold (MLS) $295,000 MARMLS
• 2021-05-05 Pending — MARMLS
• 2021-04-22 Price Changed $299,000 MARMLS
• 2021-03-19 Price Changed $303,900 MARMLS
• 2021-02-19 Price Changed $309,900 MARMLS
• 2021-02-12 Relisted — MARMLS
• 2021-01-26 Pending — MARMLS
• 2021-01-17 Price Changed $314,900 MARMLS
• 2020-12-15 Listed $331,800 MARMLS
• 2005-11-16 Sold (Public Records) $359,900 Public Records

Property tax history

+8.2%/yr

Latest (2025): $6,587 · +6.2% YoY. Source: county tax records.