1568 SE 26th St #203 · Homestead, FL 33035

$210,000

3 bd · 2.0 ba · 1,182 sqft · Condo public records · 37 Days on market

Built 2006 $351/mo HOA · 16% 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 +9.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0
• Rent growth +1.7/5.0

Listing remarks MLS

BRAND NEW! CLOSE TO HOMESTEAD SPEEDWAY AND FL TURNPIKE AND FL KEYS 2ND FLOOR UNIT WITH UPGRADED TILE AND CARPET IN ALL BEDROOMS. GREAT LOCATION 2 POOLS AND CLUBHOUSE INCLUDED IN DUES. NEAR NEW BAPTIST REGIONAL HOSPITAL

Key facts

• Gated community
• Community pool
• Children's play area

Tags

• GATED COMMUNITY
• IN-UNIT WASHER AND DRYER
• ASSIGNED PARKING
• 24-HOUR SECURITY
• COMMUNITY POOL
• CHILDREN'S PLAY AREA

Property features AI

Finance

• Other: Property condition: fixer
• Financial info: Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee of $351; Association covers grounds and structure maintenance; Community clubhouse

Exterior

• Parking: Assigned parking
• Security: Complex fenced; Security guard
• Home design: Resale property; 2 stories; Entry on second floor; Attached property
• Construction: Block construction
• Exterior features: Complex is fenced; Security guard

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Breakfast area; Second-floor entry; Living/dining room; Other interior features
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (11.2% below list).
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $186k (11.2% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 3.5% in Homestead — 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 (#158 in FL, #2,408 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-.
• 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.
• Zoned schools: Gateway Environmental K-8 Learning Center (math 23% / reading 34%, grade F, #1,943 of 2,144 statewide, top 91%, 1,355 students, 74% FRL); Homestead Middle School (math 23% / reading 25%, grade F, #532 of 571 statewide, top 94%, 666 students, 81% FRL); Homestead Senior High School (math 24% / reading 23%, grade F, #533 of 667 statewide, top 80%, 2,020 students, 74% FRL).
• Zoned-school proficiency averages 25% at this address vs 50% district-wide (-24 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-3.2%/yr); 466 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 39% of the median local income ($68k/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 $1k of loan paydown is wiped out by about $6k 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 37 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $169k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→33/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,411 (11.2% 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 37 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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?
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: 1.06% ✓
• Cap rate: 5.53%
• Cash-on-cash: -2.73%
• DSCR: 0.88
• GRM: 7.9

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: -25.2%
• Equity multiple: 0.17×
• Total profit: $-48,752
• Equity at exit: $31,312

10-year hold

• IRR: -41.5%
• Equity multiple: -0.32×
• Total profit: $-77,376
• Equity at exit: $18,157

Cash invested: $58,800 (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 33035

• Home prices YoY: -1.4%
• Rents YoY: -3.2%
• Active inventory: 466
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,226 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$352 /mo · $4,226/yr
• Insurance: −$88
• HOA: −$351
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $-134

Break-even live

Break-even rent $2,395

Max offer price $186,411

Occupancy floor —

Sensitivity live

Price	-10% $-15	-5% $-74	+0% $-134	+5% $-193	+10% $-252
Rent	-10% $-309	-5% $-221	+0% $-134	+5% $-46	+10% $42
Rate	-1.0pp $-28	-0.5pp $-80	base $-134	+0.5pp $-188	+1.0pp $-243

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1568 SE 26th St Homestead, FL	2.0	2.0	916	$1,775	$1.94	26d	2	0.01mi
1568 SE 26th St Homestead, FL	2.0	2.0	903	$1,800	$1.99	3d	1	0.02mi
2637 SE 16th Ter #206 Homestead, FL	2.0	2.0	930	$2,100	$2.26	26d	1	0.03mi
2735 SE 16th Ave #100 Homestead, FL	3.0	2.0	1060	$1,790	$1.69	26d	1	0.04mi
2524 SE 16th Rd #100 Homestead, FL	3.0	2.0	1060	$2,150	$2.03	26d	1	0.04mi
2551 SE 16th Ter #109 Homestead, FL	3.0	2.0	1060	$1,850	$1.75	26d	1	0.05mi
1539 SE 27th St #201 Homestead, FL	2.0	2.0	930	$1,700	$1.83	26d	1	0.05mi
1539 SE 27th St #107 Homestead, FL	3.0	2.0	1060	$2,000	$1.89	0d	1	0.05mi
1539 SE 27th St #201 Homestead, FL	2.0	2.0	930	$1,700	$1.83	20d	1	0.05mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	9d	1	0.06mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	26d	1	0.06mi
2537 SE 27th Ct Unit 2537 Homestead, FL	3.0	2.5	1443	$2,600	$1.80	26d	1	0.06mi
1666 SE 27th Ct Homestead, FL	3.0	2.0	1113	$1,800	$1.62	17d	2	0.07mi
1666 SE 27th Ct #108 Homestead, FL	3.0	2.0	1166	$2,000	$1.72	9d	1	0.07mi
2755 SE 16th Ave Homestead, FL	3.0	2.0	1076	$1,900	$1.77	26d	1	0.07mi
2755 SE 16th Ave #103 Homestead, FL	3.0	2.0	1060	$2,000	$1.89	26d	1	0.07mi
2726 SE 16th Ave #173 Homestead, FL	3.0	3.0	1423	$2,040	$1.43	26d	1	0.07mi
1536 SE 25th St #206 Homestead, FL	2.0	2.0	930	$1,780	$1.91	26d	1	0.08mi
1543 SE 25th St #100 Homestead, FL	3.0	2.0	1060	$2,300	$2.17	21d	1	0.08mi
1543 SE 25th St Homestead, FL	3.0	2.0	1121	$2,125	$1.90	26d	2	0.08mi
1586 SE 27th Ct #178 Homestead, FL	3.0	3.0	1423	$2,200	$1.55	4d	1	0.08mi
1586 SE 27th Ct #178 Homestead, FL	3.0	3.0	1423	$2,200	$1.55	24d	1	0.08mi
1663 SE 27th Dr #108 Homestead, FL	3.0	2.0	1166	$2,300	$1.97	13d	1	0.09mi
2460 SE 16th Ter Homestead, FL	2.0–3.0	2.0	1076	$1,900	$1.77	0d	2	0.09mi
2728 SE 17th Ave #202 Homestead, FL	3.0	2.0	1182	$1,700	$1.44	26d	1	0.10mi
1528 SE 24th Ct #209 Homestead, FL	3.0	3.0	1423	$2,000	$1.41	22d	1	0.10mi
2606 SE 15th Pl #328 Homestead, FL	4.0	3.0	1423	$3,100	$2.18	16d	1	0.10mi
2470 SE 15th Pl #335 Homestead, FL	3.0	3.0	1423	$2,200	$1.55	26d	1	0.10mi
2731 SE 17th Ave #210 Homestead, FL	3.0	2.0	1182	$2,000	$1.69	26d	1	0.11mi
2736 SE 15th Rd Homestead, FL	4.0	3.0	1453	$2,900	$2.00	26d	1	0.14mi
2623 SE 14th Ave #397 Homestead, FL	3.0	3.0	1423	$2,600	$1.83	5d	1	0.14mi
2718 SE 15th Pl #147 Homestead, FL	4.0	3.0	1423	$2,400	$1.69	24d	1	0.14mi
2452 SE 14th Ave #284 Homestead, FL	3.0	3.0	1423	$2,300	$1.62	4d	1	0.14mi
2726 SE 15th Pl #143 Homestead, FL	3.0	3.0	1423	$2,200	$1.55	17d	1	0.14mi
2452 SE 14th Ave #284 Homestead, FL	3.0	3.0	1423	$2,300	$1.62	5d	1	0.14mi
2812 SE 16th Ave #121 Homestead, FL	4.0	3.0	1423	$2,400	$1.69	26d	1	0.16mi
2811 SE 17th Ave Homestead, FL	3.0	2.0	1182	$2,100	$1.78	26d	1	0.17mi
1658 SE 28th Ct #200 Homestead, FL	3.0	2.0	1076	$2,500	$2.32	26d	1	0.18mi
1658 SE 28th Ct #202 Homestead, FL	3.0	2.0	1182	$1,900	$1.61	13d	1	0.18mi
1658 SE 28th Ct #201 Homestead, FL	3.0	2.0	1182	$1,900	$1.61	9d	1	0.18mi

HOA detail condo

• Monthly dues: $351 · $4,212/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $210,000 Active 37 DOM
2. 2026-06-18
   days on market $210,000 Active 34 DOM
3. 2026-06-17
   days on market $210,000 Active 33 DOM
4. 2026-06-16
   days on market $210,000 Active 32 DOM
5. 2026-06-15
   days on market $210,000 Active 31 DOM
6. 2026-06-13
   days on market $210,000 Active 29 DOM
7. 2026-06-09
   days on market $210,000 Active 25 DOM
8. 2026-06-08
   days on market $210,000 Active 24 DOM
9. 2026-06-07
   days on market $210,000 Active 23 DOM
10. 2026-06-04
    days on market $210,000 Active 20 DOM
11. 2026-06-03
    days on market $210,000 Active 19 DOM
12. 2026-06-02
    days on market $210,000 Active 18 DOM
13. 2026-06-01
    days on market $210,000 Active 17 DOM
14. 2026-05-31
    days on market $210,000 Active 16 DOM
15. 2026-05-15
    listed $210,000 Active
16. 2007-03-06
    soldstatus $169,200
17. 2007-02-26
    soldstatus $169,150 218-char remark

    Show marketing remark (218 chars)

    BRAND NEW! CLOSE TO HOMESTEAD SPEEDWAY AND FL TURNPIKE AND FL KEYS 2ND FLOOR UNIT WITH UPGRADED TILE AND CARPET IN ALL BEDROOMS. GREAT LOCATION 2 POOLS AND CLUBHOUSE INCLUDED IN DUES. NEAR NEW BAPTIST REGIONAL HOSPITAL

18. 2006-06-26
    listed $179,000 218-char remark

    Show marketing remark (218 chars)

    BRAND NEW! CLOSE TO HOMESTEAD SPEEDWAY AND FL TURNPIKE AND FL KEYS 2ND FLOOR UNIT WITH UPGRADED TILE AND CARPET IN ALL BEDROOMS. GREAT LOCATION 2 POOLS AND CLUBHOUSE INCLUDED IN DUES. NEAR NEW BAPTIST REGIONAL HOSPITAL

ⓘ 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: $4,226 · $352/mo
• Projected year-2 tax: $4,226 · $352/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 6/10 Major FEMA zone X (unshaded) · 61% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 33 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: $26,709
• − Mortgage interest: −$11,763
• − Property taxes: −$4,226
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,137
• − Management: −$2,137
• − HOA: −$4,212
• − Depreciation: −$6,109
• Taxable loss: −$4,924
• Est. tax savings @ 24.0%: +$1,182
• After-tax cash flow: $-421/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 — Homestead

• Score: 78/100
• State rank: #158
• US rank: #2408

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homestead, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 191,470
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 17,202
• Household income: $68,354
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 687.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 35% Black 18% White 12%
• Hispanic origin (detail): Mexican 6% Puerto Rican 13% Cuban 25% Dominican 2% Salvadoran 1%
• Common ancestry: Hispanic 6% Lithuanian 3% Estonian 1%
• Foreign-born: 33% · Canada, Dominican Republic, Jamaica
• Languages at home: 32% English-only · Spanish 60% French/Haitian/Cajun 7% 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: ▼ -5.24%
• Current HPI: 369.3031
• Rent YoY: ▼ -3.20%
• 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

+17.3% since first listed

4 events — show timeline

• 2026-05-15 Listed $210,000 MARMLS
• 2007-03-06 Sold (Public Records) $169,200 Public Records
• 2007-02-26 Sold (MLS) $169,150 Beaches MLS
• 2006-06-26 Listed $179,000 Beaches MLS

Property tax history

+6.0%/yr

Latest (2025): $4,226 · +2.2% YoY. Source: county tax records.