634 SW 2nd Pl · Florida City, FL 33034

$265,000

2 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 19 Days on market

Built 2020 846 sqft lot $95/mo HOA · 4% 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 +12.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.4/10.0
• Schools +4.2/10.0
• DSCR +3.6/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TURNKEY, immaculately clean, Fee Simple Townhouse. It features: impact windows, new water heater installed in 2024, privately fenced backyard with a beautiful pergola. This beautifully kept 2/1.5 is ready for new buyers or investors (Airbnb allowed). This property is a must see! It's located minutes away from Florida's Oasis, the Florida Keys. Built in 2020, this stunning townhouse offers the perfect blend of comfort and convenience near the Turnpike, Miami Dade College, Baptist Hospital, malls, many shopping center and restaurants. Easy to show, on Supra.

Key facts

• Functional kitchen
• Private fenced patio
• Modern updates

Tags

• PRIVATE FENCED PATIO
• IN-UNIT LAUNDRY
• ASSIGNED PARKING
• FUNCTIONAL KITCHEN
• MODERN UPDATES
• BRIGHT AND OPEN FLOOR PLAN

Property features AI

Finance

• HOA & community: Monthly association fee of $95

Exterior

• Utilities: Public water; Public sewer
• Home design: 2 stories; East-facing
• Construction: Block construction; Barrel roof
• Exterior features: Deck; Less than quarter-acre lot

Interior

• Kitchen: Electric range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-50 ($-606/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (5.6% below list).
• Recommended offer: $250k (5.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.2% in Florida City — 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 65/100 on livability (#654 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, 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 (-2.9%/yr); 612 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• At $2,501/mo this rent would consume 64% of the median local household income ($47k/yr) (locally 1516% 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 19 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $250,061 (5.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 8.8

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: -21.4%
• Equity multiple: 0.28×
• Total profit: $-53,327
• Equity at exit: $39,512

10-year hold

• IRR: -25.6%
• Equity multiple: -0.05×
• Total profit: $-78,258
• Equity at exit: $22,912

Cash invested: $74,200 (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 33034

• Home prices YoY: -5.9%
• Rents YoY: -2.9%
• Active inventory: 612
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,501 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$431 /mo · $5,170/yr
• Insurance: −$110
• HOA: −$95
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-50

Break-even live

Break-even rent $2,565

Max offer price $256,083

Occupancy floor 97%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
582 SW 2nd Pl Homestead, FL	3.0	2.0	1276	$2,500	$1.96	24d	1	0.03mi
82 SW 3rd Ct Florida City, FL	3.0	2.0	1275	$2,950	$2.31	7d	1	0.10mi
82 SW 3rd Ct Florida City, FL	3.0	2.0	1275	$2,950	$2.31	13d	1	0.10mi
175 SW 7th St Florida City, FL	2.0–3.0	2.0	945	$1,975	$2.09	21d	1	0.13mi
35303 SW 180th Ave #391 Homestead, FL	2.0	2.0	1170	$2,150	$1.84	24d	1	0.14mi
35250 SW 177th Ct #140 Homestead, FL	3.0	2.0	850	$2,000	$2.35	10d	1	0.21mi
35250 SW 177th Ct Florida City, FL	2.0–3.0	1.5–2.0	780	$2,000	$2.56	13d	2	0.36mi
639 SW 3rd Ter Homestead, FL	3.0	2.0	1175	$2,850	$2.43	21d	1	0.39mi
617 SW 11th St Homestead, FL	3.0	2.5	1466	$3,000	$2.05	2d	1	0.42mi
617 SW 11th St Homestead, FL	3.0	2.5	1466	$2,890	$1.97	24d	1	0.42mi
17904 SW 358th St Homestead, FL	3.0	2.5	1450	$1,285	$0.89	4d	1	0.42mi
17854 SW 358th St Homestead, FL	3.0	2.5	1414	$2,400	$1.70	24d	1	0.42mi
1156 SW 6th Ct Unit 1156 Florida City, FL	3.0	2.5	1466	$2,450	$1.67	24d	1	0.48mi
17851 SW 359 Ter Unit 17851 Homestead, FL	3.0	2.5	1326	$2,700	$2.04	24d	1	0.50mi
768 SW 9th St Homestead, FL	3.0	2.0	1099	$2,250	$2.05	24d	1	0.50mi
721 SW 11th St Homestead, FL	3.0	2.5	1466	$2,400	$1.64	13d	1	0.52mi
721 SW 11th St Homestead, FL	3.0	2.5	1466	$2,400	$1.64	10d	1	0.52mi
17982 SW 359th Ter Homestead, FL	3.0	2.5	1410	$2,890	$2.05	13d	1	0.53mi
1116 SW 7th Ct Homestead, FL	3.0	2.5	1466	$2,600	$1.77	24d	1	0.56mi
1116 SW 7th Ct Homestead, FL	3.0	2.5	1466	$2,400	$1.64	1d	1	0.56mi
1181 SW 7th Ct Unit 1181 Florida City, FL	3.0	2.5	1466	$2,750	$1.88	24d	1	0.58mi
1170 SW 7th Ct #1170 Florida City, FL	3.0	2.5	1466	$2,500	$1.71	24d	1	0.59mi
902 SW 8th Pl Homestead, FL	3.0	2.5	1469	$2,900	$1.97	24d	1	0.59mi
937 SW 8th Pl Homestead, FL	3.0	2.0	1065	$2,100	$1.97	24d	1	0.59mi
848 SW 10th St Homestead, FL	3.0	2.0	1053	$2,200	$2.09	2d	1	0.59mi
822 SW 11th Ter Homestead, FL	3.0	2.5	1426	$3,000	$2.10	21d	1	0.63mi
834 SW 11th Ter Unit 834 Florida City, FL	3.0	2.5	1381	$2,600	$1.88	24d	1	0.64mi
322 NE 1st Ave Unit 1 Florida City, FL	3.0	3.0	1376	$1,700	$1.24	24d	1	0.70mi
326 NE 1st Ave Unit 326 Florida City, FL	3.0	3.0	1376	$2,500	$1.82	24d	1	0.70mi
17891 SW 356th St Homestead, FL	3.0	2.5	1414	$2,300	$1.63	3d	1	0.70mi
17887 SW 356th St Unit 17887 Homestead, FL	3.0	3.0	1400	$2,350	$1.68	24d	1	0.70mi
17966 SW 357th St Homestead, FL	3.0	3.0	1330	$2,650	$1.99	7d	1	0.75mi
17958 SW 357th St Homestead, FL	3.0	3.0	1330	$2,650	$1.99	7d	1	0.75mi
17966 SW 357th St Homestead, FL	3.0	3.0	1330	$2,650	$1.99	10d	1	0.75mi
17958 SW 357th St Homestead, FL	3.0	3.0	1330	$2,650	$1.99	10d	1	0.75mi
149 NE 3rd St Florida City, FL	3.0	3.0	1376	$2,450	$1.78	24d	1	0.76mi
377 NE 1st Ave Florida City, FL	3.0	2.5	1433	$2,800	$1.95	12d	1	0.76mi
334 NE 1st St Unit 334 Florida City, FL	3.0	2.5	1433	$2,800	$1.95	24d	1	0.82mi
377 NE 1st Dr Florida City, FL	3.0	2.5	1433	$2,800	$1.95	13d	1	0.82mi
408 NE 1st Dr Florida City, FL	3.0	3.0	1376	$2,700	$1.96	16d	1	0.82mi

HOA detail

• Monthly dues: $95 · $1,140/yr
• Likely covers: water

Listing history 14 events

1. 2026-06-18
   days on market $265,000 Active 19 DOM
2. 2026-06-17
   days on market $265,000 Active 18 DOM
3. 2026-06-16
   days on market $265,000 Active 17 DOM
4. 2026-06-15
   days on market $265,000 Active 16 DOM
5. 2026-06-13
   pricedays on market $265,000 Active 14 DOM
6. 2026-06-09
   days on market $270,000 Active 10 DOM
7. 2026-06-08
   days on market $270,000 Active 9 DOM
8. 2026-06-07
   days on market $270,000 Active 8 DOM
9. 2026-06-04
   days on market $270,000 Active 5 DOM
10. 2026-06-03
    days on market $270,000 Active 4 DOM
11. 2026-06-02
    days on market $270,000 Active 3 DOM
12. 2026-06-01
    days on market $270,000 Active 2 DOM
13. 2026-05-31
    remarks 699-char remark
14. 2026-05-31
    listed $270,000 Active 1 DOM

ⓘ 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: $5,170 · $431/mo
• Projected year-2 tax: $5,170 · $431/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 5/10 Major FEMA zone X (unshaded) · 32% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,007
• − Mortgage interest: −$14,844
• − Property taxes: −$5,170
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,401
• − Management: −$2,401
• − HOA: −$1,140
• − Depreciation: −$7,709
• Taxable loss: −$4,982
• Est. tax savings @ 24.0%: +$1,196
• After-tax cash flow: $590/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 — Florida City

• Score: 65/100
• State rank: #654
• US rank: #13036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florida City, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 23,823
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 23,823
• Household income: $47,170
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 1516.0

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: Majority Hispanic (62%)
• Race & ethnicity: Hispanic / Latino 62% Black 28% Two or more races 24% White 8%
• Hispanic origin (detail): Mexican 20% Puerto Rican 5% Cuban 13% Dominican 2%
• Common ancestry: Hispanic 4%
• Foreign-born: 34% · Canada, Dominican Republic, Guatemala
• Languages at home: 38% English-only · Spanish 56% French/Haitian/Cajun 5%

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: ▼ -32.64%
• Current HPI: 521.6856
• Rent YoY: ▼ -2.85%
• 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

-71.6% since first listed

18 events — show timeline

• 2026-05-28 Listed $270,000 MARMLS
• 2025-06-27 Sold (Public Records) $280,000 Public Records
• 2025-06-20 Sold (MLS) $289,000 MARMLS
• 2025-05-08 Contingent — MARMLS
• 2025-04-09 Price Changed $280,000 MARMLS
• 2025-04-04 Price Changed $295,000 MARMLS
• 2025-04-04 Listed $295 MARMLS
• 2025-01-03 Sold (Public Records) $275,000 Public Records
• 2024-12-30 Sold (MLS) $275,000 MARMLS
• 2024-12-10 Listed $290,000 MARMLS
• 2024-11-30 Listing Removed — MARMLS
• 2024-11-12 Price Changed $299,000 MARMLS
• 2024-09-30 Listed $330,000 MARMLS
• 2024-08-21 Listing Removed — MARMLS
• 2022-09-22 Listed $330,000 MARMLS
• 2022-02-03 Price Changed $2,090 RENT.
• 2020-05-01 Sold (Public Records) $182,400 Public Records
• 2010-09-29 Sold (Public Records) $950,000 Public Records

Property tax history

+24.9%/yr

Latest (2025): $5,170 · +117.9% YoY. Source: county tax records.