616 NW 26th Ave #210 · Miami, FL 33125

$279,900

2 bd · 2.0 ba · 831 sqft · Condo public records · 146 Days on market

Built 1996 $235/mo HOA · 6% of rent

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Why this score? — see what drove the C+ 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 +27.0/30.0
• DSCR +9.3/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

COME TO SEE THIS CENTRALLY LOCATED UNIT IN THE HEART OF MIAMI; THIS 2/2 CONDO COMES WITH TILE FLOORS THROUGHOUT THE UNIT; THIS SPACIOUS AND BRIGHT UNIT IS LOCATED IN THE SECOND FLOOR OF THE BUILDING; IT COMES WITH 1 ASSIGNED PARKING SPACE AND LAUNDRY ROOM IN THE SAME FLLOR. THE BUILDING. WALKING DISTANCE TO CVS PHARMACY, NAVARRO, DON PAN, MIAMI AIRPORT, ETC. OK TO RENT . PETS ALLOWED WITH RESTRICTIONS. LOAN APPROVAL AND PROOF OF FUNDS TO BE SUBMITTED WITH ANY OFFER. CALL LISTING AGENT FOR SHOWING INSTRUCTIONS. SPECIAL ASSESSMENTS TO BE PAID IN FULL BY OWNER AT TIME OF CLOSING.

Key facts

• Tile floors
• Laundry room
• Pets allowed

Tags

• TILE FLOORS
• ASSIGNED PARKING SPACE
• LAUNDRY ROOM
• WALKING DISTANCE TO NAVARRO
• WALKING DISTANCE TO DON PAN
• PETS ALLOWED

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee of $235; Association fee includes water and sewer

Exterior

• Parking: 1 covered parking space; 1-car garage
• Security: Complex fencing
• Home design: Attached property; 4 total stories; Entry on level 2
• Construction: Block construction; Resale property
• Exterior features: Fenced; Complex is fenced

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom located on main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Bedroom on main level; Ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $781 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $280k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 (-1.4%/yr); 239 active listings in the ZIP; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,743/mo this rent would consume 100% of the median local household income ($45k/yr) (locally 5223% 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.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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 $120k; list at $280k implies a 133% 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 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 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. 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 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: 1.34% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.96%
• DSCR: 1.53
• GRM: 6.2

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: -2.2%
• Equity multiple: 0.92×
• Total profit: $-6,387
• Equity at exit: $41,734

10-year hold

• IRR: 3.5%
• Equity multiple: 1.22×
• Total profit: $16,921
• Equity at exit: $24,201

Cash invested: $78,372 (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 33125

• Rents YoY: -1.4%
• Active inventory: 239
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $3,743 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$357 /mo · $4,278/yr
• Insurance: −$117
• HOA: −$235
• Vacancy / Maint / Mgmt: −$786
• Net cashflow: $781

Break-even live

Break-even rent $2,754

Max offer price $279,900

Occupancy floor 74%

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $235 · $2,820/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $279,900 Active 146 DOM
2. 2026-06-17
   days on market $279,900 Active 145 DOM
3. 2026-06-16
   days on market $279,900 Active 144 DOM
4. 2026-06-15
   days on market $279,900 Active 143 DOM
5. 2026-06-13
   days on market $279,900 Active 141 DOM
6. 2026-06-09
   days on market $279,900 Active 137 DOM
7. 2026-06-08
   days on market $279,900 Active 136 DOM
8. 2026-06-07
   days on market $279,900 Active 135 DOM
9. 2026-06-04
   days on market $279,900 Active 132 DOM
10. 2026-06-03
    days on market $279,900 Active 131 DOM
11. 2026-06-02
    days on market $279,900 Active 130 DOM
12. 2026-06-01
    days on market $279,900 Active 129 DOM
13. 2026-05-31
    days on market $279,900 Active 128 DOM
14. 2026-01-24
    price $279,900
15. 2026-01-23
    listed $279,000 Active
16. 2025-12-18
    historical
17. 2025-11-22
    price $270,000
18. 2025-10-03
    price $275,000
19. 2025-10-01
    status Active
20. 2025-08-26
    status Active
21. 2025-08-11
    historical Active Under Contract
22. 2025-06-19
    listed $289,000 Active
23. 2017-07-12
    soldstatus $120,000
24. 2011-06-28
    soldstatus $47,000
25. 2010-12-01
    historical
26. 2010-05-28
    listed $56,800
27. 2004-05-17
    soldstatus $125,000

ⓘ 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: $4,278 · $357/mo
• Projected year-2 tax: $4,278 · $357/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥104°F today · 22 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: $44,914
• − Mortgage interest: −$15,679
• − Property taxes: −$4,278
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,593
• − Management: −$3,593
• − HOA: −$2,820
• − Depreciation: −$8,143
• Taxable income: $5,409
• Est. tax owed @ 24.0%: −$1,298
• After-tax cash flow: $8,072/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): 56,897
• Household income: $44,979
• Rent vs Own: 74.0% rent · 26.0% own
• Severe rent burden: 5223.0

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 52% White 4% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 46% Dominican 3% Salvadoran 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 68% · Canada, Jamaica, Dominican Republic
• Languages at home: 9% English-only · Spanish 90%

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: ▼ -402.98%
• Current HPI: 476.1631
• Rent YoY: ▼ -1.39%
• 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

+123.9% since first listed

14 events — show timeline

• 2026-01-24 Price Changed $279,900 MARMLS
• 2026-01-23 Listed $279,000 MARMLS
• 2025-12-18 Listing Removed — MARMLS
• 2025-11-22 Price Changed $270,000 MARMLS
• 2025-10-03 Price Changed $275,000 MARMLS
• 2025-10-01 Relisted — MARMLS
• 2025-08-26 Relisted — MARMLS
• 2025-08-11 Contingent — MARMLS
• 2025-06-19 Listed $289,000 MARMLS
• 2017-07-12 Sold (Public Records) $120,000 Public Records
• 2011-06-28 Sold (Public Records) $47,000 Public Records
• 2010-12-01 Listing Removed — Beaches MLS
• 2010-05-28 Listed $56,800 Beaches MLS
• 2004-05-17 Sold (Public Records) $125,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $4,278 · +9.0% YoY. Source: county tax records.