239 SW 9th St #1604 · Miami, FL 33130

$81,000

1 bd · 1.0 ba · 494 sqft · Condo public records · 157 Days on market

Built 2024 $70/mo HOA · 2% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Listing remarks MLS

Urban living at its best in Smart Brickell. Located in the vibrant heart of Miami. Enjoy breathtaking city views through floor-to-ceiling windows. This condominium offers sleek modern design, resort-style amenities. The unit is fully finished and furnished, ready to rent. Rent your unit through Airbnb and other platforms for short-term rentals. Smart Brickell offers a rooftop bar/lounge, an expansive amenities deck with two pools, a gym and spa, and a ground floor café. Only a few units available. Schedule your private tour today.

Key facts

• $70 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $70; Association fee includes HVAC; Community amenities: fitness center, pool, elevators

Exterior

• Parking: 1 covered parking space; Valet parking available
• Security: Secured lobby
• Utilities: Electric heating and cooling
• Home design: New construction; Property is part of an attached development; 26-story building
• Construction: New construction; Updated/remodeled condition
• Exterior features: Deck; Association pool

Interior

• Kitchen: Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Bedroom on main level; First floor entry; Ceramic tile floors
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $81k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $81k).
• Recommended offer: $71k (12.0% below list) — sets the bar for market timing.
• Cap rate 38.6% 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); 642 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,557/mo this rent would consume 70% 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 $560 of loan paydown is wiped out by about $1k 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 (-1.8% appreciation + 0.0% rent growth), your $23k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 3y 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.

Recommended offer $71,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 4.39% ✓
• Cap rate: 38.60%
• Cash-on-cash: 115.37%
• DSCR: 6.13
• GRM: 1.9

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: —
• Equity multiple: 6.27×
• Total profit: $119,601
• Equity at exit: $16,526

10-year hold

• IRR: —
• Equity multiple: 11.88×
• Total profit: $246,843
• Equity at exit: $14,889

Cash invested: $22,680 (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: 642
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $3,557 medium
• Mortgage (P&I): −$425
• Tax est. 1.5%: −$101 /mo · $1,215/yr
• Insurance: −$34
• HOA: −$70
• Vacancy / Maint / Mgmt: −$747
• Net cashflow: $2,180

Break-even live

Break-even rent $797

Max offer price $81,000

Occupancy floor 34%

Sensitivity live

Price	-10% $2,236	-5% $2,208	+0% $2,180	+5% $2,152	+10% $2,124
Rent	-10% $1,899	-5% $2,040	+0% $2,180	+5% $2,321	+10% $2,461
Rate	-1.0pp $2,221	-0.5pp $2,201	base $2,180	+0.5pp $2,159	+1.0pp $2,138

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: $20,250
• Closing costs: $2,430
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $70 · $840/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-21
   days on market $81,000 Active 157 DOM
2. 2026-06-18
   days on market $81,000 Active 154 DOM
3. 2026-06-17
   days on market $81,000 Active 153 DOM
4. 2026-06-16
   days on market $81,000 Active 152 DOM
5. 2026-06-15
   days on market $81,000 Active 151 DOM
6. 2026-06-13
   days on market $81,000 Active 149 DOM
7. 2026-06-09
   days on market $81,000 Active 145 DOM
8. 2026-06-08
   days on market $81,000 Active 144 DOM
9. 2026-06-07
   days on market $81,000 Active 143 DOM
10. 2026-06-04
    days on market $81,000 Active 140 DOM
11. 2026-06-03
    days on market $81,000 Active 139 DOM
12. 2026-06-02
    days on market $81,000 Active 138 DOM
13. 2026-06-01
    days on market $81,000 Active 137 DOM
14. 2026-05-31
    days on market $81,000 Active 136 DOM
15. 2026-01-15
    listed $81,000 Active
16. 2025-11-26
    historical
17. 2025-10-20
    status Active
18. 2025-06-27
    listed $81,000 Active
19. 2024-04-27
    historical $3,100
20. 2024-03-26
    listed $3,100
21. 2024-03-22
    historical $3,100
22. 2024-03-22
    listed $3,100
23. 2024-03-22
    historical $3,100
24. 2024-03-14
    listed $3,100
25. 2024-03-13
    soldstatus $540,000
26. 2024-03-11
    soldstatus $540,000 Closed 543-char remark

    Show marketing remark (543 chars)

    Urban living at its best in Smart Brickell. Located in the vibrant heart of Miami. Enjoy breathtaking city views through floor-to-ceiling windows. This condominium offers sleek modern design, resort-style amenities. The unit is fully finished and furnished, ready to rent. Rent your unit through Airbnb and other platforms for short-term rentals. Smart Brickell offers a rooftop bar/lounge, an expansive amenities deck with two pools, a gym and spa, and a ground floor café. Only a few units available. Schedule your private tour today.

27. 2024-03-05
    historical $3,200
28. 2024-03-01
    listed $3,200
29. 2024-02-29
    historical $3,200
30. 2024-02-23
    listed $3,200
31. 2024-02-22
    historical $3,000
32. 2024-02-14
    historical Active Under Contract 543-char remark

    Show marketing remark (543 chars)

    Urban living at its best in Smart Brickell. Located in the vibrant heart of Miami. Enjoy breathtaking city views through floor-to-ceiling windows. This condominium offers sleek modern design, resort-style amenities. The unit is fully finished and furnished, ready to rent. Rent your unit through Airbnb and other platforms for short-term rentals. Smart Brickell offers a rooftop bar/lounge, an expansive amenities deck with two pools, a gym and spa, and a ground floor café. Only a few units available. Schedule your private tour today.

33. 2024-02-06
    listed $3,000
34. 2024-01-30
    historical $3,100
35. 2024-01-21
    listed $3,100
36. 2024-01-18
    historical $3,200
37. 2024-01-05
    listed $3,200
38. 2023-12-29
    historical $3,200
39. 2023-12-27
    listed $3,200
40. 2023-09-28
    listed $595,000 Active 543-char remark

    Show marketing remark (543 chars)

    Urban living at its best in Smart Brickell. Located in the vibrant heart of Miami. Enjoy breathtaking city views through floor-to-ceiling windows. This condominium offers sleek modern design, resort-style amenities. The unit is fully finished and furnished, ready to rent. Rent your unit through Airbnb and other platforms for short-term rentals. Smart Brickell offers a rooftop bar/lounge, an expansive amenities deck with two pools, a gym and spa, and a ground floor café. Only a few units available. Schedule your private tour today.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $42,687
• − Mortgage interest: −$4,537
• − Property taxes: −$1,215
• − Insurance: −$405
• − Repairs & maintenance: −$3,415
• − Management: −$3,415
• − HOA: −$840
• − Depreciation: −$2,356
• Taxable income: $26,503
• Est. tax owed @ 24.0%: −$6,361
• After-tax cash flow: $19,804/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

-86.4% since first listed

26 events — show timeline

• 2026-01-15 Listed $81,000 MARMLS
• 2025-11-26 Listing Removed — MARMLS
• 2025-10-20 Relisted — MARMLS
• 2025-06-27 Listed $81,000 MARMLS
• 2024-04-27 Rental Removed $3,100 REALBIRD
• 2024-03-26 Listed for Rent $3,100 REALBIRD
• 2024-03-22 Rental Removed $3,100 MARMLS
• 2024-03-22 Listed for Rent $3,100 MARMLS
• 2024-03-22 Rental Removed $3,100 REALBIRD
• 2024-03-14 Listed for Rent $3,100 REALBIRD
• 2024-03-13 Sold (Public Records) $540,000 Public Records
• 2024-03-11 Sold (MLS) $540,000 MARMLS
• 2024-03-05 Rental Removed $3,200 MARMLS
• 2024-03-01 Listed for Rent $3,200 MARMLS
• 2024-02-29 Rental Removed $3,200 REALBIRD
• 2024-02-23 Listed for Rent $3,200 REALBIRD
• 2024-02-22 Rental Removed $3,000 TURBOTENANT
• 2024-02-14 Contingent — MARMLS
• 2024-02-06 Listed for Rent $3,000 TURBOTENANT
• 2024-01-30 Rental Removed $3,100 MARMLS
• 2024-01-21 Listed for Rent $3,100 MARMLS
• 2024-01-18 Rental Removed $3,200 MARMLS
• 2024-01-05 Listed for Rent $3,200 MARMLS
• 2023-12-29 Rental Removed $3,200 MARMLS
• 2023-12-27 Listed for Rent $3,200 MARMLS
• 2023-09-28 Listed $595,000 MARMLS

Property tax history

+44.7%/yr

Latest (2025): $7,593 · +44.7% YoY. Source: county tax records.