2791 NW 193rd Ter · Miami Gardens, FL 33056

$255,000

3 bd · 1.0 ba · 1,406 sqft · Townhouse public records · 31 Days on market

Built 1980 Est $432k · 41% under $65/mo HOA · 2% of rent

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Why this score? — see what drove the B 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.9/10.0
• Schools +4.2/10.0
• Rent growth +3.8/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in this 3 bedroom, 1.5 bathroom townhouse located in the heart of Miami Gardens. Property is in original condition and requires a full renovation, making it ideal for investors, contractors, or buyers looking to customize from top to bottom. Spacious two story layout with great potential for value add. Conveniently located within walking distance of Hard Rock Stadium, grocery shopping, restaurants, and nearby conveniences, with easy access to major highways and public transportation. Property is being sold strictly AS IS. All contracts and terms are subject to court approval. Buyer to conduct their own due diligence regarding condition, HOA, permits, reoccupancy certifica

Key facts

• Full renovation
• Two story layout
• $65 HOA

Tags

• FULL RENOVATION
• TWO STORY LAYOUT
• EASY ACCESS TO MAJOR HIGHWAYS
• PUBLIC TRANSPORTATION

Property features AI

Finance

• Financial info: Pets allowed with possible restrictions
• HOA & community: Association fee $65 monthly

Exterior

• Parking: One parking space
• Utilities: Water service available; Sewer service available; Electric service available
• Home design: 2-story residence; Entry at level 1; Attached property
• Construction: Block construction; Effective year built
• Exterior features: Enclosed porch; Porch with screened area; Lakefront property; South-facing

Interior

• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: First-floor entry; Upper-level primary bedroom

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $255k.

Deal economics

• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Recommended offer: $247k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.1% in Miami Gardens — 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 72/100 on livability (#338 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D+, crime D-, 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 rising fast (+5.3%/yr); 111 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,043/mo this rent would consume 53% of the median local household income ($69k/yr) (locally 1192% 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 $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.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $71k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $54k; list at $255k implies a 373% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $247,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.43%
• DSCR: 1.46
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $431,642
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3441 NW 194th Ter #3441	0.70mi	4/2.0 (+1)	1,248 (-11%)	16mo	$383,000	$307	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.29% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.08×
• Total profit: $5,421
• Equity at exit: $38,021

10-year hold

• IRR: 13.7%
• Equity multiple: 2.21×
• Total profit: $86,679
• Equity at exit: $22,048

Cash invested: $71,400 (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 33056

• Home prices YoY: -19.0%
• Rents YoY: 5.3%
• Active inventory: 111
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $3,043 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$275 /mo · $3,303/yr
• Insurance: −$106
• HOA: −$65
• Vacancy / Maint / Mgmt: −$639
• Net cashflow: $620

Break-even live

Break-even rent $2,258

Max offer price $255,000

Occupancy floor 75%

Sensitivity live

Price	-10% $765	-5% $693	+0% $620	+5% $548	+10% $476
Rent	-10% $380	-5% $500	+0% $620	+5% $741	+10% $861
Rate	-1.0pp $749	-0.5pp $685	base $620	+0.5pp $554	+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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $65 · $780/yr

Listing history 17 events

1. 2026-06-21
   days on market $255,000 Active 31 DOM
2. 2026-06-18
   days on market $255,000 Active 28 DOM
3. 2026-06-17
   days on market $255,000 Active 27 DOM
4. 2026-06-16
   days on market $255,000 Active 26 DOM
5. 2026-06-15
   days on market $255,000 Active 25 DOM
6. 2026-06-13
   days on market $255,000 Active 23 DOM
7. 2026-06-09
   days on market $255,000 Active 19 DOM
8. 2026-06-08
   days on market $255,000 Active 18 DOM
9. 2026-06-07
   days on market $255,000 Active 17 DOM
10. 2026-06-04
    days on market $255,000 Active 14 DOM
11. 2026-06-03
    days on market $255,000 Active 13 DOM
12. 2026-06-02
    days on market $255,000 Active 12 DOM
13. 2026-06-01
    days on market $255,000 Active 11 DOM
14. 2026-05-31
    days on market $255,000 Active 10 DOM
15. 2026-05-22
    price $255,000
16. 2026-05-21
    listed $244,900 Active
17. 1981-10-01
    soldstatus $53,900

ⓘ 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: $3,303 · $275/mo
• Projected year-2 tax: $3,303 · $275/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,518
• − Mortgage interest: −$14,284
• − Property taxes: −$3,303
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,921
• − Management: −$2,921
• − HOA: −$780
• − Depreciation: −$7,418
• Taxable income: $3,615
• Est. tax owed @ 24.0%: −$868
• After-tax cash flow: $6,577/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 Gardens

• Score: 72/100
• State rank: #338
• US rank: #5854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami Gardens, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 81,592
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,890
• Household income: $68,583
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 1192.0

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 Black (65%)
• Race & ethnicity: Black 65% Hispanic / Latino 31% Two or more races 20% White 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 15% Dominican 3%
• Common ancestry: Hispanic 7%
• Foreign-born: 33% · Canada, Jamaica
• Languages at home: 62% English-only · Spanish 30% French/Haitian/Cajun 7% Arabic 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: ▼ -143.19%
• Current HPI: 609.9947
• Rent YoY: ▲ 5.29%
• 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

+373.1% since first listed

3 events — show timeline

• 2026-05-22 Price Changed $255,000 MARMLS
• 2026-05-21 Listed $244,900 MARMLS
• 1981-10-01 Sold (Public Records) $53,900 Public Records

Property tax history

+6.0%/yr

Latest (2025): $3,303 · +263.3% YoY. Source: county tax records.