546 SW 1st St #611 · Miami, FL 33130

$196,000

1 bd · 1.0 ba · 605 sqft · Condo public records · 385 Days on market

Built 1988 $239/mo HOA · 7% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Appreciation +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

WE BACK BABY--Back on the Market CASH ONLY --- Attention Investors!!! 9% cap rate. This well-maintained, pet-friendly 1-bed, 1-bath condo features a private balcony with views of the Miami downtown skyline. Located in the heart of Miami, it offers an excellent investment opportunity with a Section 8 tenant in place, paying current market rent. The building has assigned parking, remote-controlled gate access, and a washer/dryer on every floor. This condo is conveniently located next to the elevator, just minutes from downtown Miami's dining, shopping, and entertainment. A fantastic opportunity for investors! It is the responsibility of the buyer’s agent to verify all information and

Key facts

• Private balcony
• Assigned parking
• $239 HOA

Tags

• PRIVATE BALCONY
• ASSIGNED PARKING
• REMOTE-CONTROLLED GATE ACCESS
• WASHER DRYER ON EVERY FLOOR

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee of $210; Association covers management, laundry, grounds maintenance, structure maintenance, sewer, trash and water; Elevator(s) in the association amenities

Exterior

• Parking: Garage with 1 garage space and garage door opener; Carport with 1 carport space; 2 covered parking spaces total
• Security: Secured garage/parking; Fire sprinkler system; Smoke detectors
• Utilities: Water and sewer included in association fee
• Home design: 6-story building; Property faces north; Entry on level 6; Attached property
• Construction: Block construction; Effective year built
• Exterior features: Fence; Complex is fenced

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: First-floor entry; Elevator; Bedroom on main level; Unfurnished
• Laundry & utility: Laundry included in association amenities

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $196k.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $196k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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 (-0.5%/yr); 642 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).
• At $3,432/mo this rent would consume 67% of the median local household income ($61k/yr) (locally 5231% 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 (-1.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-1.8% appreciation + 0.0% rent growth), your $55k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 385 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $24k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $196k implies a 444% 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; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 385 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.75% ✓
• Cap rate: 13.37%
• Cash-on-cash: 25.29%
• DSCR: 2.13
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.79% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.28×
• Total profit: $15,241
• Equity at exit: $39,990

10-year hold

• IRR: 10.8%
• Equity multiple: 1.82×
• Total profit: $45,183
• Equity at exit: $36,028

Cash invested: $54,880 (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 33130

• Home prices YoY: -0.5%
• Rents YoY: -0.5%
• Active inventory: 642
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,432 medium
• Mortgage (P&I): −$1,028
• Tax from tax record: −$206 /mo · $2,469/yr
• Insurance: −$82
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$239
• Vacancy / Maint / Mgmt: −$721
• Net cashflow: $730

Break-even live

Break-even rent $2,507

Max offer price $196,000

Occupancy floor 74%

Sensitivity live

Price	-10% $841	-5% $786	+0% $730	+5% $675	+10% $619
Rent	-10% $459	-5% $595	+0% $730	+5% $866	+10% $1,001
Rate	-1.0pp $829	-0.5pp $780	base $730	+0.5pp $679	+1.0pp $628

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: $49,000
• Closing costs: $5,880
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 NE 1st Ave Unit 1227496P Miami, FL	3.0	1.0–3.0	904	$8,354	$9.24	0d	4	0.93mi

HOA detail condo

• Monthly dues: $239 · $2,868/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   pricestatusdays on market $196,000 Active 385 DOM
2. 2026-06-13
   statusdays on market $195,000 Pending 384 DOM
3. 2026-06-09
   days on market $195,000 Active Under Contract 382 DOM
4. 2026-06-08
   days on market $195,000 Active Under Contract 381 DOM
5. 2026-06-08
   days on market $195,000 Active Under Contract 380 DOM
6. 2026-06-04
   days on market $195,000 Active Under Contract 377 DOM
7. 2026-06-03
   days on market $195,000 Active Under Contract 376 DOM
8. 2026-06-02
   days on market $195,000 Active Under Contract 375 DOM
9. 2026-06-01
   days on market $195,000 Active Under Contract 374 DOM
10. 2026-05-31
    days on market $195,000 Active Under Contract 373 DOM
11. 2026-04-14
    historical Active Under Contract
12. 2025-12-12
    price $195,000
13. 2025-11-29
    status Active
14. 2025-05-29
    price $215,000
15. 2025-05-15
    status Active
16. 2025-04-29
    historical Active Under Contract
17. 2025-04-27
    status Active
18. 2025-04-27
    historical Active Under Contract
19. 2025-04-25
    listed $220,000 Active
20. 2024-03-23
    historical $1,800
21. 2024-03-05
    price $1,800
22. 2024-02-06
    listed $1,850
23. 2023-02-07
    listed $215,000 Active
24. 1988-12-01
    soldstatus $36,000

ⓘ 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: $2,469 · $206/mo
• Projected year-2 tax: $2,469 · $206/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 29 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: $41,178
• − Mortgage interest: −$10,979
• − Property taxes: −$2,469
• − Insurance: −$6,098
• − Repairs & maintenance: −$3,294
• − Management: −$3,294
• − HOA: −$2,868
• − Depreciation: −$5,702
• Taxable income: $6,473
• Est. tax owed @ 24.0%: −$1,554
• After-tax cash flow: $7,208/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): 34,964
• Household income: $61,009
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 5231.0

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 (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 44% White 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 24% Dominican 4%
• Common ancestry: Romanian 2% Estonian 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, Guatemala
• Languages at home: 23% English-only · Spanish 70% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -1.79%
• Current HPI: 344.7752
• Rent YoY: ▼ -0.53%
• 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

+441.7% since first listed

14 events — show timeline

• 2026-04-14 Contingent — MARMLS
• 2025-12-12 Price Changed $195,000 MARMLS
• 2025-11-29 Relisted — MARMLS
• 2025-05-29 Price Changed $215,000 MARMLS
• 2025-05-15 Relisted — MARMLS
• 2025-04-29 Contingent — MARMLS
• 2025-04-27 Relisted — MARMLS
• 2025-04-27 Contingent — MARMLS
• 2025-04-25 Listed $220,000 MARMLS
• 2024-03-23 Rental Removed $1,800 MARMLS
• 2024-03-05 Price Changed $1,800 MARMLS
• 2024-02-06 Listed for Rent $1,850 MARMLS
• 2023-02-07 Listed $215,000 MARMLS
• 1988-12-01 Sold (Public Records) $36,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $2,469 · +2.2% YoY. Source: county tax records.