1271 SE 28th Ct #105 · Homestead, FL 33035

$199,900

2 bd · 2.0 ba · 822 sqft · Condo public records · 26 Days on market

Built 2003 $229/mo HOA · 12% 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 +10.0/30.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0
• Rent growth +1.7/5.0

Listing remarks MLS

GREAT 2 BEDROOM 2 BATH CONDO! LOCATED IN VENETIA GARDENS IN HOMESTEAD! UNIT FEAT. SPACIOUS KITCHEN AND BEDROOMS, 800+SQFT OF OPEN LIVING AREA, TILE & CARPET, LOTS OF NATURAL LIGHT, BEAUTIFUL LAKE VIEWS, AND MORE! SITUATED MINUTES TO MAJOR HIGHWAYS, SCHOOLS, SHOPPING, DINING AND MUCH MORE! UNIT IS ELIGIBLE FOR HOMEPATH FINANCING, AS LITTLE AS 5% DOWN, NO APPRAISAL OR MORTGAGE INSURANCE REQ'D.

Key facts

• Lake views
• Quiet rear patio
• Tile flooring

Tags

• LAKE VIEWS
• OPEN LIVING DINING AREA
• TILE FLOORING
• UPDATED BATHROOM
• WALK-IN SHOWER
• QUIET REAR PATIO

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee of $229; Association fee covers common areas and grounds maintenance; Community playground

Exterior

• Parking: Detached 1-car garage; One covered parking space
• Security: Gated/fenced complex; On-site security guard
• Utilities: Central heating and cooling
• Home design: Attached property; 2-story building; Entry on level 1; Resale property
• Construction: Block construction
• Exterior features: Patio; Canal-front and lake-front waterfront; Has a view; Complex is fenced; Security guard on site

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Primary bedroom located on the main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First floor entry; Main level primary bedroom; Bedroom on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (4.4% below list).
• Recommended offer: $179k (10.6% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 3.5% in Homestead — 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 (#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 falling (-3.2%/yr); 462 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 34% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• 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 26 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 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 $64k; list at $200k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major 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 $178,785 (10.6% 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. 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?
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 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: 0.96% ✗
• Cap rate: 5.58%
• Cash-on-cash: -2.56%
• DSCR: 0.89
• GRM: 8.7

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: -24.5%
• Equity multiple: 0.19×
• Total profit: $-45,426
• Equity at exit: $29,806

10-year hold

• IRR: -35.9%
• Equity multiple: -0.26×
• Total profit: $-70,274
• Equity at exit: $17,284

Cash invested: $55,972 (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 33035

• Home prices YoY: -1.4%
• Rents YoY: -3.2%
• Active inventory: 462
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,912 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$269 /mo · $3,230/yr
• Insurance: −$83
• HOA: −$229
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $-120

Break-even live

Break-even rent $2,063

Max offer price $178,785

Occupancy floor —

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1271 SE 28th Ct #105 Homestead, FL	2.0	2.0	822	$1,800	$2.19	5d	1	0.03mi
1271 SE 28th Ct Homestead, FL	2.0	2.0	818	$1,775	$2.17	3d	2	0.03mi
1271 SE 27th St #101 Homestead, FL	3.0	2.0	1099	$1,900	$1.73	10d	1	0.04mi
1271 SE 27th St #101 Homestead, FL	3.0	2.0	1099	$1,915	$1.74	15d	1	0.04mi
1251 SE 29th St Unit 105-26 Homestead, FL	2.0	2.0	822	$1,750	$2.13	8d	1	0.07mi
1251 SE 29th St Unit 105-26 Homestead, FL	2.0	2.0	822	$1,750	$2.13	24d	1	0.07mi
1251 SE 29th St Unit 103-26 Homestead, FL	2.0	2.0	822	$1,800	$2.19	21d	1	0.07mi
2701 SE 12th Pl #102 Homestead, FL	2.0	2.0	822	$1,800	$2.19	17d	1	0.07mi
1250 SE 29th St Unit 205-58 Homestead, FL	2.0	2.0	815	$1,700	$2.09	21d	1	0.09mi
1241 SE 29th St Unit 203-27 Homestead, FL	2.0	2.0	815	$1,650	$2.02	21d	1	0.09mi
1250 SE 26th St #204 Homestead, FL	2.0	2.0	815	$1,875	$2.30	24d	1	0.15mi
2910 SE 13th Rd Homestead, FL	3.0	2.0	1099	$2,150	$1.96	24d	1	0.16mi
2901 SE 13th Rd Unit 105-41 Homestead, FL	2.0	2.0	822	$1,900	$2.31	24d	1	0.16mi
2911 SE 13th Ave Unit 202-49 Homestead, FL	2.0	2.0	815	$1,650	$2.02	24d	1	0.17mi
2921 SE 13th Ave Unit 106-48 Homestead, FL	3.0	2.0	1099	$1,800	$1.64	24d	1	0.17mi
2931 SE 12th Rd Unit 204-55 Homestead, FL	2.0	2.0	815	$1,750	$2.15	24d	1	0.18mi
2931 SE 13th Ave Unit 104-47 Homestead, FL	2.0	2.0	822	$1,790	$2.18	24d	1	0.19mi
2931 SE 13th Ave Unit 202-47 Homestead, FL	2.0	2.0	815	$1,750	$2.15	22d	1	0.19mi
2930 SE 12th Rd Unit 203-31 Homestead, FL	2.0	2.0	815	$1,750	$2.15	24d	1	0.21mi
2930 SE 12th Rd Unit 204-31 Homestead, FL	2.0	2.0	815	$1,850	$2.27	24d	1	0.21mi
2528 SE 14th Ave Homestead, FL	1.0	1.0	775	$3,000	$3.87	5d	1	0.21mi
2921 SE 13th Rd Unit 104-39 Homestead, FL	2.0	2.0	822	$1,790	$2.18	8d	1	0.21mi
2921 SE 13th Rd Unit 104-39 Homestead, FL	2.0	2.0	822	$1,790	$2.18	4d	1	0.21mi
1260 SE 31st Ct Unit 204-34 Homestead, FL	2.0	2.0	815	$1,700	$2.09	18d	1	0.22mi
1300 SE 31st Ct Unit 201-36 Homestead, FL	3.0	2.0	1024	$2,100	$2.05	24d	1	0.23mi
1300 SE 31st Ct Unit 201-36 Homestead, FL	3.0	2.0	1024	$2,000	$1.95	10d	1	0.23mi
1539 SE 27th St #201 Homestead, FL	2.0	2.0	930	$1,700	$1.83	24d	1	0.29mi
1539 SE 27th St #201 Homestead, FL	2.0	2.0	930	$1,700	$1.83	18d	1	0.29mi
2755 SE 16th Ave #103 Homestead, FL	3.0	2.0	1060	$2,000	$1.89	24d	1	0.31mi
2755 SE 16th Ave Homestead, FL	3.0	2.0	1076	$1,900	$1.77	24d	1	0.31mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	8d	1	0.31mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	24d	1	0.31mi
2735 SE 16th Ave #100 Homestead, FL	3.0	2.0	1060	$1,790	$1.69	24d	1	0.32mi
1568 SE 26th St Homestead, FL	2.0	2.0	903	$1,800	$1.99	2d	1	0.33mi
1666 SE 27th Ct Homestead, FL	3.0	2.0	1113	$1,800	$1.62	15d	2	0.33mi
1568 SE 26th St Homestead, FL	2.0	2.0	916	$1,775	$1.94	24d	2	0.34mi
1536 SE 25th St #206 Homestead, FL	2.0	2.0	930	$1,780	$1.91	24d	1	0.34mi
2524 SE 16th Rd #100 Homestead, FL	3.0	2.0	1060	$2,150	$2.03	24d	1	0.34mi
1543 SE 25th St #100 Homestead, FL	3.0	2.0	1060	$2,300	$2.17	19d	1	0.34mi
1543 SE 25th St Homestead, FL	3.0	2.0	1121	$2,125	$1.90	24d	2	0.34mi

HOA detail condo

• Monthly dues: $229 · $2,748/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-09
   days on market $199,900 Active 26 DOM
2. 2026-06-08
   days on market $199,900 Active 25 DOM
3. 2026-06-07
   days on market $199,900 Active 24 DOM
4. 2026-06-04
   days on market $199,900 Active 21 DOM
5. 2026-06-03
   days on market $199,900 Active 20 DOM
6. 2026-06-02
   days on market $199,900 Active 19 DOM
7. 2026-06-01
   days on market $199,900 Active 18 DOM
8. 2026-05-31
   days on market $199,900 Active 17 DOM
9. 2026-05-14
   listed $199,900 Active
10. 2026-04-28
    historical $1,900
11. 2026-03-10
    price $1,900
12. 2026-01-31
    listed $2,000
13. 2014-04-15
    soldstatus $64,000 Sold 399-char remark

    Show marketing remark (399 chars)

    GREAT 2 BEDROOM 2 BATH CONDO! LOCATED IN VENETIA GARDENS IN HOMESTEAD! UNIT FEAT. SPACIOUS KITCHEN AND BEDROOMS, 800+SQFT OF OPEN LIVING AREA, TILE & CARPET, LOTS OF NATURAL LIGHT, BEAUTIFUL LAKE VIEWS, AND MORE! SITUATED MINUTES TO MAJOR HIGHWAYS, SCHOOLS, SHOPPING, DINING AND MUCH MORE! UNIT IS ELIGIBLE FOR HOMEPATH FINANCING, AS LITTLE AS 5% DOWN, NO APPRAISAL OR MORTGAGE INSURANCE REQ'D.

14. 2014-03-07
    status Pending 399-char remark

    Show marketing remark (399 chars)

    GREAT 2 BEDROOM 2 BATH CONDO! LOCATED IN VENETIA GARDENS IN HOMESTEAD! UNIT FEAT. SPACIOUS KITCHEN AND BEDROOMS, 800+SQFT OF OPEN LIVING AREA, TILE & CARPET, LOTS OF NATURAL LIGHT, BEAUTIFUL LAKE VIEWS, AND MORE! SITUATED MINUTES TO MAJOR HIGHWAYS, SCHOOLS, SHOPPING, DINING AND MUCH MORE! UNIT IS ELIGIBLE FOR HOMEPATH FINANCING, AS LITTLE AS 5% DOWN, NO APPRAISAL OR MORTGAGE INSURANCE REQ'D.

15. 2014-02-28
    price $59,900 399-char remark

    Show marketing remark (399 chars)

    GREAT 2 BEDROOM 2 BATH CONDO! LOCATED IN VENETIA GARDENS IN HOMESTEAD! UNIT FEAT. SPACIOUS KITCHEN AND BEDROOMS, 800+SQFT OF OPEN LIVING AREA, TILE & CARPET, LOTS OF NATURAL LIGHT, BEAUTIFUL LAKE VIEWS, AND MORE! SITUATED MINUTES TO MAJOR HIGHWAYS, SCHOOLS, SHOPPING, DINING AND MUCH MORE! UNIT IS ELIGIBLE FOR HOMEPATH FINANCING, AS LITTLE AS 5% DOWN, NO APPRAISAL OR MORTGAGE INSURANCE REQ'D.

16. 2014-01-30
    listed $69,900 Active 399-char remark

    Show marketing remark (399 chars)

    GREAT 2 BEDROOM 2 BATH CONDO! LOCATED IN VENETIA GARDENS IN HOMESTEAD! UNIT FEAT. SPACIOUS KITCHEN AND BEDROOMS, 800+SQFT OF OPEN LIVING AREA, TILE & CARPET, LOTS OF NATURAL LIGHT, BEAUTIFUL LAKE VIEWS, AND MORE! SITUATED MINUTES TO MAJOR HIGHWAYS, SCHOOLS, SHOPPING, DINING AND MUCH MORE! UNIT IS ELIGIBLE FOR HOMEPATH FINANCING, AS LITTLE AS 5% DOWN, NO APPRAISAL OR MORTGAGE INSURANCE REQ'D.

17. 2006-04-10
    soldstatus $170,000

ⓘ 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: $3,230 · $269/mo
• Projected year-2 tax: $3,230 · $269/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 6/10 Major FEMA zone X (unshaded) · 52% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,941
• − Mortgage interest: −$11,198
• − Property taxes: −$3,230
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,835
• − Management: −$1,835
• − HOA: −$2,748
• − Depreciation: −$5,815
• Taxable loss: −$4,721
• Est. tax savings @ 24.0%: +$1,133
• After-tax cash flow: $-301/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): 17,202
• Household income: $68,354
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 687.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 35% Black 18% White 12%
• Hispanic origin (detail): Mexican 6% Puerto Rican 13% Cuban 25% Dominican 2% Salvadoran 1%
• Common ancestry: Hispanic 6% Lithuanian 3% Estonian 1%
• Foreign-born: 33% · Canada, Dominican Republic, Jamaica
• Languages at home: 32% English-only · Spanish 60% French/Haitian/Cajun 7% Other Indo-European 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: ▼ -5.24%
• Current HPI: 369.3031
• Rent YoY: ▼ -3.20%
• 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

+17.6% since first listed

9 events — show timeline

• 2026-05-14 Listed $199,900 MARMLS
• 2026-04-28 Rental Removed $1,900 MARMLS
• 2026-03-10 Price Changed $1,900 MARMLS
• 2026-01-31 Listed for Rent $2,000 MARMLS
• 2014-04-15 Sold (MLS) $64,000 MARMLS
• 2014-03-07 Pending — MARMLS
• 2014-02-28 Price Changed $59,900 MARMLS
• 2014-01-30 Listed $69,900 MARMLS
• 2006-04-10 Sold (Public Records) $170,000 Public Records

Property tax history

+67.4%/yr

Latest (2025): $3,230 · +5.7% YoY. Source: county tax records.