19800 SW 180th Ave Unit 259 · Richmond West, FL 33187

$189,000

3 bd · 2.0 ba · 1,690 sqft · Condo public records · 38 Days on market

Built 1993 $189/mo HOA · 8% 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 +26.2/30.0
• DSCR +8.8/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 3-bedroom, 2-bathroom large manufactured home situated on a 3,980 SF corner lot in American Village. This property offers generous living space, abundant natural light, and tons of potential to make it your own. Featuring a functional layout and great bones, it’s perfect for buyers looking to customize and add value. The home does need some TLC, including new flooring and cosmetic updates, but with a little vision and care, it can truly shine. Whether you’re an investor or a homeowner seeking an affordable opportunity, this is a fantastic chance to create your ideal space in a well-located community.

Key facts

• Natural light
• Functional layout
• Cosmetic updates

Tags

• CORNER LOT
• NATURAL LIGHT
• FUNCTIONAL LAYOUT
• COSMETIC UPDATES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.5% in Richmond West — 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 68/100 on livability (#495 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment A; Watch: schools D-, amenities 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: 173 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

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 38 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $108k; list at $189k implies a 75% 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.32% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.88%
• DSCR: 1.48
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-9,500
• Equity at exit: $28,181

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $19,618
• Equity at exit: $16,341

Cash invested: $52,920 (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 33187

• Home prices YoY: -22.3%
• Active inventory: 173
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$189
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $328

Break-even live

Break-even rent $2,085

Max offer price $189,000

Occupancy floor 82%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19800 SW 180th Ave Miami, FL	2.0–3.0	2.0	1170	$2,500	$2.14	24d	2	0.33mi

HOA detail condo

• Monthly dues: $189 · $2,268/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-03-20
   status Pending
2. 2026-02-02
   listed $189,000 Active
3. 2005-07-27
   soldstatus $108,000
4. 1997-07-25
   soldstatus $72,000
5. 1990-10-12
   soldstatus $35,000
6. 1990-06-01
   soldstatus $600,100
7. 1981-06-01
   soldstatus $55,500

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AH · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$2,770
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − HOA: −$2,268
• − Depreciation: −$5,498
• Taxable income: $1,242
• Est. tax owed @ 24.0%: −$298
• After-tax cash flow: $3,636/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 — Richmond West

• Score: 68/100
• State rank: #495
• US rank: #9071

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 18,575

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 (80%)
• Race & ethnicity: Hispanic / Latino 80% Two or more races 36% White 9% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 42% Dominican 1%
• Common ancestry: Lithuanian 2% European 1%
• Foreign-born: 50% · Canada, Jamaica, Dominican Republic
• Languages at home: 18% English-only · Spanish 80% French/Haitian/Cajun 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: ▼ -133.25%
• Current HPI: 464.6963
• Rent YoY: —
• Metro: —
• 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

+240.5% since first listed

7 events — show timeline

• 2026-03-20 Pending — MARMLS
• 2026-02-02 Listed $189,000 MARMLS
• 2005-07-27 Sold (Public Records) $108,000 Public Records
• 1997-07-25 Sold (Public Records) $72,000 Public Records
• 1990-10-12 Sold (Public Records) $35,000 Public Records
• 1990-06-01 Sold (Public Records) $600,100 Public Records
• 1981-06-01 Sold (Public Records) $55,500 Public Records

Property tax history

-11.6%/yr

Latest (2025): $60 · +29.4% YoY. Source: county tax records.