6101 NW 21st Ave

Brownsville, FL 33142

$310,000D+

3 bd · 1.0 ba · 1,160 sqft · Built 1992 · SingleFamily · Pending · 123 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,473/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$272
• HOA: −$0
• Vac / Maint / Mgmt: −$519
• Net cashflow: $56/mo
• Annual: $671/yr
• Cap rate: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• 1% rule: 0.80%
• Cash to close: $86,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $310k.
• At list price, monthly cash flow is $56 ($671/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (20.2% below list).
• It's been on market 123 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $247k (20.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#246 in FL, #3,900 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety B+; Watch: amenities F, employment 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.
• Zoned schools: Charles R Drew K-8 Center (math 24% / reading 25%, grade F, #2,037 of 2,144 statewide, top 96%, 417 students, 82% FRL); Brownsville Middle School (math 13% / reading 19%, grade F, #565 of 571 statewide, top 99%, 487 students, 71% FRL); Miami Northwestern Senior High (math 11% / reading 27%, grade F, #565 of 667 statewide, top 85%, 1,429 students, 75% FRL).
• Zoned-school proficiency averages 20% at this address vs 50% district-wide (-30 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.4%/yr); 271 active listings in the ZIP; lower-income renter base — watch delinquency; 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.
• 2 sale attempts; this cycle's ask has dropped $125k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $69k; list at $310k implies a 351% gain — meaningful room to come down on a strong offer.
• 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.
• At $2,473/mo this rent would consume 75% of the median local household income ($40k/yr) (locally 5748% 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 123 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are A-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?
• 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.
• 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.