1 bd · 1.0 ba ·
725 sqft ·
Built 1979
· Condo
· Active
· 593 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$3,167/mo
Mortgage (P&I)
−$1,070
Tax + insurance
−$297
HOA
−$271
Vac / Maint / Mgmt
−$665
Net cashflow
$864/mo
Annual
$10,374/yr
Cap rate
11.38%
Cash-on-cash
18.16%
DSCR
1.81
1% rule
1.55%
Cash to close
$57,120
Investor read
This is a 1-bed/1.0-bath condo listed at $204k.
At list price, monthly cash flow is $864 ($10k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($3k rent vs $204k).
It's been on market 593 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
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.
Location reads 74/100 on livability (#288 in FL, #4,774 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+; Watch: amenities F, employment D-.
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 (-0.1%/yr); 111 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
4 sale attempts since 2y ago; this cycle's ask is 11233% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
Current owner paid $29k; list at $204k implies a 603% gain — meaningful room to come down on a strong offer.
At projected returns (-3.0% appreciation + 0.0% rent growth), your $57k cash investment doubles in ~10 years — after that, you're playing with house money.
Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 11.4% vs local median 3.5% in Hialeah — 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.
At $3,167/mo this rent would consume 63% of the median local household income ($61k/yr) (locally 1352% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.
Questions for listing agent
It's been on market 593 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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.
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.
CashFlowRE · CFR-VE0RKZ95BKPBDY
· Data 1 week agocashflowre.app · 2026-05-29