4347 E 9th Ct

Hialeah, FL 33013

$490,000D-

2 bd · 2.0 ba · 1,000 sqft · Built 1977 · SingleFamily · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,174/mo
• Mortgage (P&I): −$2,570
• Tax + insurance: −$728
• HOA: −$0
• Vac / Maint / Mgmt: −$667
• Net cashflow: $-790/mo
• Annual: $-9,482/yr
• Cap rate: 4.73%
• Cash-on-cash: -5.58%
• DSCR: 0.75
• 1% rule: 0.65%
• Cash to close: $137,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $490k.
• At list price, monthly cash flow is $-790 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $350k (28.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $317k (35.2% below list).
• It's been on market 34 days — a 3% lower offer ($475k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $317k (35.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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.
• Zoned schools: North Hialeah Elementary School (math 52% / reading 54%, grade C, #963 of 2,144 statewide, top 45%, 432 students, 66% FRL); Hialeah Middle School (math 30% / reading 42%, grade F, #410 of 571 statewide, top 72%, 878 students, 68% FRL); Hialeah Senior High School (math 16% / reading 37%, grade F, #489 of 667 statewide, top 74%, 1,732 students, 67% FRL) — zoned schools at 67% FRL track the district average.
• Watch-outs: flood insurance adds $152/mo.
• 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.
• 3 sale attempts since 12y 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.
• Current owner paid $110k; list at $490k implies a 345% gain — meaningful room to come down on a strong offer.
• 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.7% 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 $3,174/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

• 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?
• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.