220 W Indies Rd · Tavernier, FL 33070

$714,900

4 bd · 2.0 ba · 1,541 sqft · MultiFamily public records · 28 Days on market

Built 1982 5,100 sqft lot Est $599k · 19% over

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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 +14.2/30.0
• Appreciation +5.2/10.0
• Schools +4.6/10.0
• DSCR +4.3/10.0
• 1% rule +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

FANTASTIC INVESTMENT OPPORTUNITY Newly renovated FULL DUPLEX! 2/1 on each side. Tenants in place in both units. Stainless appliances, laminate flooring and solid surface countertops round out this functional & welcoming space! Nice yard space on both units! Great location within walking distance to Harry Harris Park, where you'll find a boat ramp, playground and more for days filled with fun for the whole family! Tenants in place in both units. PROOF OF FUNDS REQUIRED TO SHOW PROPERTY. ALLOW 72 HOURS TO ARRANGE SHOWINGS.

Key facts

• Laminate flooring
• Nice yard space
• Stainless appliances

Tags

• FULL DUPLEX
• STAINLESS APPLIANCES
• LAMINATE FLOORING
• SOLID SURFACE COUNTERTOPS
• NICE YARD SPACE
• BOAT RAMP

Property features AI

Finance

• Other: Property is in Flood Zone AE; Zoned IS - Improved Subdivision District; Lot size less than 1/4 acre (approximately 0.11 acre)
• Financial info: Cash and Conventional terms accepted; Rentals allowed with restrictions (minimum 30 days); Pets allowed
• HOA & community: No association fee; No first right of refusal; Fee includes: Other

Exterior

• Utilities: FKAA water; Municipal sewer (public sewer hook-up); Buyer to verify utilities
• Home design: Conch-style building; Built in 1982; Located on the ocean side (Mile Marker 93)
• Construction: CBS construction; Shingle roof
• Exterior features: No porch or balcony; No dockage; No waterfront; No waterview; Community boat ramp; Beach access nearby

Interior

• Kitchen: Refrigerator; Oven; Range
• Bedrooms: Property contains 2 total units
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central A/C
• Interior features: Laminate flooring; Aluminum windows; Central A/C; Updated/remodeled condition; Unfurnished
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $715k.

Deal economics

• At list price, monthly cash flow is $-312 ($-4k/yr) — negative. Per door: $-156/mo.
• To cash-flow at today's rent, offer at most $660k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $583k (18.4% below list).
• Recommended offer: $583k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 1.1% in Tavernier — 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 60/100 on livability (#807 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing B; Watch: amenities F, commute F, employment D-.
• Monroe (town): math 50% / reading 55% proficiency, ranked #23 of 73 in FL (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 142 active listings in the ZIP; solid renter incomes; 332 units permitted in Monroe County in 2024 (42 in 5+ unit buildings).
• At $5,834/mo this rent would consume 93% of the median local household income ($75k/yr) (locally 204% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $8k of equity ($5k loan paydown + $3k appreciation (0.5% local appreciation)).
• Monroe County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($704k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $100; list at $715k implies a 714800% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $583,400 (18.4% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.82% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $599,449
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 Hispanola Rd	0.05mi	4/2.0	1,541 (0%)	13mo	$600,000	$389	87
108 Caribbean Ave	0.42mi	4/2.0	1,686 (+9%)	12mo	$480,000	$285	55

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

Projected returns pro-forma

0.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.87×
• Total profit: $-25,130
• Equity at exit: $224,180

10-year hold

• IRR: 2.8%
• Equity multiple: 1.32×
• Total profit: $64,577
• Equity at exit: $283,102

Cash invested: $200,172 (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 33070

• Home prices YoY: 0.0%
• Active inventory: 142
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $5,834 medium
• Mortgage (P&I): −$3,749
• Tax from tax record: −$448 /mo · $5,373/yr
• Insurance: −$298
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,225
• Net cashflow: $-312

Break-even live

Break-even rent $6,229

Max offer price $659,726

Occupancy floor —

Sensitivity live

Price	-10% $92	-5% $-110	+0% $-312	+5% $-515	+10% $-717
Rent	-10% $-773	-5% $-543	+0% $-312	+5% $-82	+10% $149
Rate	-1.0pp $48	-0.5pp $-131	base $-312	+0.5pp $-498	+1.0pp $-686

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,834
Total (2 units)			$5,834

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: $178,725
• Closing costs: $21,447
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $714,900 Active 28 DOM
2. 2026-06-18
   days on market $714,900 Active 27 DOM
3. 2026-06-17
   days on market $714,900 Active 26 DOM
4. 2026-06-16
   days on market $714,900 Active 25 DOM
5. 2026-06-15
   days on market $714,900 Active 24 DOM
6. 2026-06-14
   days on market $714,900 Active 22 DOM
7. 2026-06-13
   days on market $714,900 Active 21 DOM
8. 2026-06-10
   days on market $714,900 Active 19 DOM
9. 2026-06-09
   days on market $714,900 Active 18 DOM
10. 2026-06-08
    days on market $714,900 Active 17 DOM
11. 2026-06-07
    days on market $714,900 Active 16 DOM
12. 2026-06-05
    days on market $714,900 Active 13 DOM
13. 2026-06-03
    days on market $714,900 Active 12 DOM
14. 2026-06-02
    days on market $714,900 Active 11 DOM
15. 2026-06-01
    days on market $714,900 Active 10 DOM
16. 2026-05-31
    days on market $714,900 Active 9 DOM
17. 2026-05-30
    days on market $714,900 Active 8 DOM
18. 2026-05-22
    listed $714,900 Active
19. 2026-04-29
    historical
20. 2025-06-17
    status Active
21. 2024-12-08
    historical
22. 2024-10-26
    price $724,000
23. 2024-09-19
    listed $725,000 Active
24. 2008-10-02
    soldstatus $100
25. 1998-01-26
    soldstatus $125,000
26. 1986-04-01
    soldstatus $62,000
27. 1984-10-01
    soldstatus $128,000
28. 1980-12-01
    soldstatus $20,000

ⓘ 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: $5,373 · $448/mo
• Projected year-2 tax: $5,934 · $494/mo
• Expected delta: +$561/yr (+$47/mo · 10.4%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 48% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 💨 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: $70,008
• − Mortgage interest: −$40,046
• − Property taxes: −$5,373
• − Insurance: −$8,693
• − Repairs & maintenance: −$5,601
• − Management: −$5,601
• − Depreciation: −$20,797
• Taxable loss: −$16,102
• Est. tax savings @ 24.0%: +$3,864
• After-tax cash flow: $117/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: Monroe
• NCES district ID: 1201320
• Math proficiency: 50% ▼ -14.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $56,955
• Composite: 45.51/100
• National rank: #2608
• State rank: #23 of 73 in FL

Livability — Tavernier

• Score: 60/100
• State rank: #807
• US rank: #19118

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tavernier, FL
• County: Monroe County · 66,185 people
• City population: 5,614
• Metro: Key West, FL
• Population (ZIP): 5,768
• Household income: $75,436
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 204.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 90,706 people
• By 2030: 96,308 · +6.2%
• By 2040: 106,565 · +17.5%
• By 2050: 116,500 · +28.4%
• By 2075: 141,423 · +55.9%
• By 2100: 151,947 · +67.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 22% Two or more races 12% Black 1%
• Hispanic origin (detail): Mexican 2% Cuban 15%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, Guatemala, Jamaica
• Languages at home: 80% English-only · Spanish 17% Russian/Polish/Slavic 2%

Political lean MEDSL · Monroe

• 2024 margin: R (+18.3) · D 40.5% · R 58.8%
• 2008→2024 swing: -23.2pp toward R · 2008: 4.9pp · 2024: -18.3pp
• All cycles: 2024: R+18.3 2020: R+7.9 2016: R+6.9 2012: D+0.4 2008: D+4.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.46%
• Current HPI: 1058.63
• Rent YoY: —
• Metro: Key West, 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

+3474.5% since first listed

11 events — show timeline

• 2026-05-22 Listed $714,900 FLKMLS
• 2026-04-29 Listing Removed — FLKMLS
• 2025-06-17 Relisted — FLKMLS
• 2024-12-08 Listing Removed — FLKMLS
• 2024-10-26 Price Changed $724,000 FLKMLS
• 2024-09-19 Listed $725,000 FLKMLS
• 2008-10-02 Sold (Public Records) $100 Public Records
• 1998-01-26 Sold (Public Records) $125,000 Public Records
• 1986-04-01 Sold (Public Records) $62,000 Public Records
• 1984-10-01 Sold (Public Records) $128,000 Public Records
• 1980-12-01 Sold (Public Records) $20,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $5,373 · +7.3% YoY. Source: county tax records.