1685 SE 8th Ave · Homestead, FL 33034

$5,000

3 bd · 2.0 ba · 1,628 sqft · Townhouse public records · 13 Days on market

Built 2023 2,250 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.5/30.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• 1% rule +1.6/10.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Spacious 3 bedrooms, 2.5 baths New Construction Townhome located close to the Florida City Outlets and at the entrance to the Keys. Paved driveway, professionally designed landscaping, stainless steel appliances, Home is Connected package. * Pictures, photographs, features, colors and sizes are approximate for illustration purposes only and will vary from the homes as built. These photos are not of the actual home but are similar to the home being built.

Key facts

• Garage
• Built 2023
• Listed 12 days

Property features AI

Finance

• Other: No deed restrictions; Pets: see remarks; Rentals not allowed; One total unit
• Financial info: Property listed at auction
• HOA & community: No association fee; Association fee covers other items

Exterior

• Parking: Attached garage
• Utilities: Utilities: other (see remarks)
• Home design: Single-family type; Built in 2023; Less than 1/4 acre lot; Other zoning
• Construction: Other construction
• Exterior features: No waterfront or waterview; Dockage: other dockage

Interior

• Bedrooms: Three bedrooms
• Bathrooms: Two full bathrooms and one half bathroom
• Interior features: Other appliances (see remarks)

🏗️ New construction. The $5,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $441,188.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $5k.

Deal economics

• At list price, monthly cash flow is $-890 ($-11k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $5k).
• Cap rate 4.3% vs local median 3.5% in Homestead — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Market conditions: Rents soft (-2.9%/yr); 615 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2,925/mo this rent would consume 74% 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 $3k of loan paydown is wiped out by about $13k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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

• Watch-outs: property tax is 132.4% of price; 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 $5,000

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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.66% ✗
• Cap rate: 4.29%
• Cash-on-cash: -7.17%
• DSCR: 0.68
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $441,188
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
727 SE 14 St	0.19mi	3/3.5	1,746 (+7%)	21mo	$472,404	$271	56
700 SE 15 St	0.11mi	4/3.5 (+1)	1,804 (+11%)	22mo	$504,000	$279	47
371 NE 16 St	0.64mi	3/2.5	1,456 (-11%)	4mo	$394,000	$271	47

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

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -35.1%
• Equity multiple: -0.11×
• Total profit: $-136,621
• Equity at exit: $65,783

10-year hold

• IRR: -70.9%
• Equity multiple: -0.82×
• Total profit: $-224,541
• Equity at exit: $38,146

Cash invested: $123,533 (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: 615
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,925 high
• Mortgage (P&I): −$2,314
• Tax est. 1.5%: −$551 /mo · $6,618/yr
• Insurance: −$184
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $-890

Break-even live

Break-even rent $4,052

Max offer price $312,380

Occupancy floor —

Sensitivity live

Price	-10% $-585	-5% $-738	+0% $-890	+5% $-1,043	+10% $-1,195
Rent	-10% $-1,121	-5% $-1,006	+0% $-890	+5% $-775	+10% $-659
Rate	-1.0pp $-668	-0.5pp $-778	base $-890	+0.5pp $-1,004	+1.0pp $-1,121

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: $110,297
• Closing costs: $13,236
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
818 SE 17th St Homestead, FL	3.0	3.0	1712	$2,900	$1.69	25d	1	0.04mi
1783 SE 7th Ter Homestead, FL	4.0	3.0	1757	$3,100	$1.76	19d	1	0.07mi
1783 SE 7th Ter Homestead, FL	4.0	3.0	1757	$3,100	$1.76	25d	1	0.07mi
525 NE 6th Pl Florida City, FL	4.0	3.0	2126	$3,600	$1.69	25d	1	0.07mi
791 SE 18th St Unit 791 Homestead, FL	3.0	2.5	1712	$3,200	$1.87	12d	1	0.08mi
791 SE 18th St Unit 791 Homestead, FL	3.0	2.5	1712	$3,200	$1.87	5d	1	0.08mi
779 SE 18th St Unit 779 Florida City, FL	3.0	2.5	1628	$2,985	$1.83	25d	1	0.08mi
805 SE 18th St Unit 805 Homestead, FL	3.0	2.5	1628	$2,900	$1.78	25d	1	0.08mi
831 SE 16th Ct Homestead, FL	3.0	2.5	1628	$2,750	$1.69	0d	1	0.09mi
804 SE 18th St Homestead, FL	4.0	3.0	1757	$3,100	$1.76	12d	1	0.10mi
804 SE 18th St Unit 804 Homestead, FL	4.0	3.0	1757	$3,100	$1.76	19d	1	0.10mi
648 NE 5th Way Florida City, FL	3.0	2.0	1521	$3,300	$2.17	25d	1	0.13mi
1720 SE 9th Ave Florida City, FL	3.0	2.5	1488	$2,300	$1.55	19d	1	0.14mi
1710 SE 9th Ave Florida City, FL	3.0	2.5	1488	$3,000	$2.02	25d	1	0.14mi
784 SE 19th St #784 Florida City, FL	3.0	2.5	1712	$2,895	$1.69	25d	1	0.14mi
1780 SE 9th Ave Florida City, FL	3.0	2.5	1542	$2,500	$1.62	2d	1	0.15mi
1780 SE 9th Ave Florida City, FL	3.0	2.5	1542	$2,700	$1.75	4d	1	0.15mi
728 SE 14th Ct Homestead, FL	3.0	3.5	1694	$3,200	$1.89	25d	1	0.16mi
906 SE 17th St Homestead, FL	3.0	2.5	1464	$3,000	$2.05	4d	1	0.16mi
1427 SE 7th Ter Unit 1427 Homestead, FL	3.0	2.5	1642	$2,750	$1.67	25d	1	0.18mi
643 SE 15th St Homestead, FL	3.0	2.5	1642	$2,800	$1.71	3d	1	0.19mi
643 SE 15th St Homestead, FL	3.0	2.5	1642	$2,850	$1.74	13d	1	0.19mi
656 SE 14th Ct Homestead, FL	3.0	3.5	1746	$2,600	$1.49	25d	1	0.20mi
1921 SE 8th Pl Homestead, FL	3.0	3.0	1483	$3,100	$2.09	25d	1	0.20mi
639 SE 14th Ct Homestead, FL	3.0	3.5	2106	$3,177	$1.51	25d	1	0.22mi
1371 SE 7th Ter Unit 1371 Homestead, FL	4.0	3.5	1790	$3,000	$1.68	5d	1	0.23mi
1371 SE 7th Ter Homestead, FL	4.0	3.5	1790	$3,000	$1.68	3d	1	0.23mi
708 SE 13th Ct Homestead, FL	3.0	3.5	1694	$2,700	$1.59	25d	1	0.24mi
708 SE 13th Ct Homestead, FL	3.0	3.5	1694	$2,700	$1.59	6d	1	0.24mi
496 NE 5th St Unit 496 Florida City, FL	2.0	2.5	1208	$2,250	$1.86	12d	1	0.25mi
496 NE 5th St Unit 496 Florida City, FL	2.0	2.5	1208	$2,250	$1.86	9d	1	0.25mi
541 NE 4th Ln Florida City, FL	3.0	3.0	1272	$2,400	$1.89	25d	1	0.25mi
540 NE 5th Ln Florida City, FL	2.0	2.5	1208	$2,200	$1.82	17d	1	0.25mi
487 NE 5th St Florida City, FL	3.0	3.0	1272	$2,550	$2.00	23d	1	0.26mi
479 NE 5th Way Unit 479 Florida City, FL	3.0	3.0	1272	$2,400	$1.89	0d	1	0.26mi
1500 Jefferson Dr Unit 1500K Homestead, FL	3.0	2.0	1195	$2,000	$1.67	9d	1	0.27mi
1500 Jefferson Dr Unit 1500L Homestead, FL	3.0	2.0	1195	$2,500	$2.09	23d	1	0.27mi
621 SE 13th Street Cir Unit 1 Homestead, FL	3.0	3.5	1694	$2,500	$1.48	9d	1	0.28mi
621 SE 13th Street Cir Unit 1 Homestead, FL	3.0	3.5	1694	$2,500	$1.48	25d	1	0.28mi
631 SE 13th Street Cir Homestead, FL	4.0	3.5	1850	$3,200	$1.73	25d	1	0.28mi

Listing history 8 events

1. 2026-06-21
   days on market $5,000 Active 13 DOM
2. 2026-06-18
   days on market $5,000 Active 10 DOM
3. 2026-06-17
   days on market $5,000 Active 9 DOM
4. 2026-06-16
   days on market $5,000 Active 8 DOM
5. 2026-06-15
   days on market $5,000 Active 7 DOM
6. 2026-06-13
   days on market $5,000 Active 5 DOM
7. 2026-06-08
   remarks 298-char remark
8. 2026-06-08
   listed $5,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AH · 14% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $35,101
• − Mortgage interest: −$24,713
• − Property taxes: −$6,618
• − Insurance: −$4,030
• − Repairs & maintenance: −$2,808
• − Management: −$2,808
• − Depreciation: −$12,835
• Taxable loss: −$18,711
• Est. tax savings @ 24.0%: +$4,491
• After-tax cash flow: $-6,191/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): 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

-98.9% since first listed

7 events — show timeline

• 2026-06-08 Listed $5,000 FLKMLS
• 2026-02-02 Listing Removed — FLKMLS
• 2026-01-21 Listed $5,000 FLKMLS
• 2023-06-20 Sold (MLS) $475,790 MARMLS
• 2023-02-24 Pending — MARMLS
• 2023-02-02 Price Changed $475,790 MARMLS
• 2023-01-27 Listed $473,790 MARMLS

Property tax history

+51.3%/yr

Latest (2025): $8,142 · -8.7% YoY. Source: county tax records.