6219 SW 131st Pl #204 · Kendale Lakes, FL 33183

$222,000

1 bd · 1.0 ba · 630 sqft · Condo public records · 57 Days on market

Built 1989 $191/mo HOA · 10% 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 +15.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +4.2/10.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity in Kendall! This convert 2-bedroom, 1-bathroom apartment offers a prime location near excellent schools, parks, shopping centers, and easy access to major expressways. Low association fees make it an ideal choice for investors. This property offers a comfortable layout, ideal for both living and entertaining. Enjoy a spacious interior. Private balcony overlooking a serene garden view, offering a peaceful and relaxing outdoor retreat.

Key facts

• Excellent schools
• Private balcony
• Serene garden view

Tags

• INVESTMENT OPPORTUNITY
• PRIME LOCATION
• EXCELLENT SCHOOLS
• SPACIOUS INTERIOR
• PRIVATE BALCONY
• SERENE GARDEN VIEW

Property features AI

Finance

• Other: Annual tax amount available
• Financial info: Lease considered; Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association amenities include pool; Association fee covers common areas, insurance, grounds maintenance, pool(s), roof, trash, and water

Exterior

• Parking: Assigned parking
• Security: Phone entry; Complex fenced
• Utilities: Has cooling; Has heating
• Home design: Attached property; 2-story building; Entry on level 2
• Construction: Block construction; Effective year built
• Exterior features: Fenced; Association pool

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: First-floor entry; Bedroom on main level; Tile flooring
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $222k.

Deal economics

• At list price, monthly cash flow is $-54 ($-653/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (9.6% below list).
• Recommended offer: $201k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.6% in Kendale Lakes — 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 77/100 on livability (#186 in FL, #2,923 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, housing A+, crime A-; Watch: 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 (-0.1%/yr); 183 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 34% of the median local income ($70k/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 $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 57 days — a 3% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $51k; list at $222k implies a 335% 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 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,645 (9.6% 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 57 days. Have you received any prior offers? Is the seller open to a 10% 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 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?
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: 0.90% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.88%
• DSCR: 1.08
• GRM: 9.2

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: -21.6%
• Equity multiple: 0.27×
• Total profit: $-45,226
• Equity at exit: $33,101

10-year hold

• IRR: -25.7%
• Equity multiple: -0.06×
• Total profit: $-66,185
• Equity at exit: $19,195

Cash invested: $62,160 (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 33183

• Rents YoY: -0.1%
• Active inventory: 183
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,006 medium
• Mortgage (P&I): −$1,164
• Tax from tax record: −$40 /mo · $478/yr
• Insurance: −$92
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$191
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $-54

Break-even live

Break-even rent $2,075

Max offer price $212,383

Occupancy floor 98%

Sensitivity live

Price	-10% $71	-5% $8	+0% $-54	+5% $-117	+10% $-446
Rent	-10% $-213	-5% $-134	+0% $-54	+5% $25	+10% $104
Rate	-1.0pp $57	-0.5pp $2	base $-54	+0.5pp $-112	+1.0pp $-170

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: $55,500
• Closing costs: $6,660
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12990 SW 63rd Ter #605 Miami, FL	1.0	1.0	711	$1,950	$2.74	25d	1	0.14mi
8500 SW 133rd Avenue Rd Miami, FL	1.0–3.0	1.5–2.0	872	$1,800	$2.06	25d	3	1.49mi

HOA detail condo

• Monthly dues: $191 · $2,292/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $222,000 Active 57 DOM
2. 2026-06-17
   days on market $222,000 Active 56 DOM
3. 2026-06-16
   days on market $222,000 Active 55 DOM
4. 2026-06-15
   days on market $222,000 Active 54 DOM
5. 2026-06-13
   days on market $222,000 Active 52 DOM
6. 2026-06-09
   days on market $222,000 Active 48 DOM
7. 2026-06-08
   days on market $222,000 Active 47 DOM
8. 2026-06-07
   days on market $222,000 Active 46 DOM
9. 2026-06-04
   days on market $222,000 Active 43 DOM
10. 2026-06-03
    days on market $222,000 Active 42 DOM
11. 2026-06-02
    days on market $222,000 Active 41 DOM
12. 2026-06-01
    days on market $222,000 Active 40 DOM
13. 2026-05-31
    days on market $222,000 Active 39 DOM
14. 2026-05-12
    price $222,000
15. 2026-04-21
    listed $225,000 Active
16. 1999-06-16
    soldstatus $51,000
17. 1997-12-17
    soldstatus $47,900
18. 1997-12-01
    soldstatus $47,900

ⓘ 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: $478 · $40/mo
• Projected year-2 tax: $1,843 · $154/mo
• Expected delta: +$1,365/yr (+$114/mo · 285.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AH · 0% 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: $24,077
• − Mortgage interest: −$12,435
• − Property taxes: −$478
• − Insurance: −$2,934
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − HOA: −$2,292
• − Depreciation: −$6,458
• Taxable loss: −$4,373
• Est. tax savings @ 24.0%: +$1,049
• After-tax cash flow: $396/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 — Kendale Lakes

• Score: 77/100
• State rank: #186
• US rank: #2923

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kendale Lakes, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 33,811
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,527
• Household income: $70,218
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 1416.0

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 (84%)
• Race & ethnicity: Hispanic / Latino 84% Two or more races 52% White 13% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 53% Dominican 1%
• Common ancestry: Romanian 1%
• Foreign-born: 63% · Canada, Jamaica
• Languages at home: 15% English-only · Spanish 83% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -331.51%
• Current HPI: 385.8798
• Rent YoY: ▼ -0.10%
• 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

+363.5% since first listed

5 events — show timeline

• 2026-05-12 Price Changed $222,000 MARMLS
• 2026-04-21 Listed $225,000 MARMLS
• 1999-06-16 Sold (Public Records) $51,000 Public Records
• 1997-12-17 Sold (Public Records) $47,900 Public Records
• 1997-12-01 Sold (Public Records) $47,900 Public Records

Property tax history

-0.0%/yr

Latest (2025): $478 · +2.2% YoY. Source: county tax records.