18950 SW 240th St · Homestead, FL 33031

$1,095,000

4 bd · 2.0 ba · 3,391 sqft · SingleFamily public records · 43 Days on market

Built 1962 0.97 ac lot

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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 +7.7/30.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.5/10.0

Listing remarks

PRESENTED FOR IMMEDIATE SALE! THIS RARE OPPORTUNITY IS NESTLED AMONGST THE OPEN AIR OF THE MIAMI DADE COUNTY REDLAND NEIGHBORHOOD. HERE WE HAVE AN EXCEPTIONAL PRIVATE COUNTRY ESTATE WHICH FEATURES A LARGE TWO STORY FIVE-BEDROOM 3.5 BATH HOME WITH A ONE CAR GARAGE. TWIN MASTER BEDROOMS (UPSTAIRS AND DOWNSTAIR RESPECTIVELY) AND TWO GROUND FLOOR LIVING ROOMS ON WOOD FLOORS THAT EXTEND THROUGH THE UPDATED KITCHEN INTO THE SEPARATE DINING ROOM. A MAGNIFICENT SECOND STORY BALCONY AMONGST THE TREE TOPS AND THE LOVELY BACK PORCH FRAMED BY FOLIAGE ARE RESPECTIVELY PERFECT FOR STARGAZING AND ENTERTAINING. COME FEEL THE PEACE AND TRANQUILITY OF THE MATURE LYCHEE GROVE THAT PROVIDES ANNUAL INCOME AND A

Key facts

• Second story balcony
• Mature lychee grove
• Twin master bedrooms

Tags

• PRIVATE COUNTRY ESTATE
• TWIN MASTER BEDROOMS
• SECOND STORY BALCONY
• MATURE LYCHEE GROVE
• NEARLY AN ACRE OF LAND
• NO HOA

Property features AI

Finance

• Other: Horses allowed
• HOA & community: Lease considered; No pet restrictions (pets allowed)

Exterior

• Parking: Attached garage; Driveway; Garage door opener; 1 covered garage space (1-car)
• Utilities: Cable available; Septic tank; Well water
• Home design: Single-story; Faces north
• Construction: Built with block, frame and wood siding; Shingle roof; Resale construction
• Exterior features: Balcony; Deck; Open patio; Patio; Fence; Fruit trees

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level; Main level primary; Upper level primary
• Flooring: Hardwood; Tile; Wood
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Main-level bedroom; Breakfast area; Closet cabinetry; Dining area; Separate formal dining room; First-floor entry; Main-level primary bedroom; Upper-level primary bedroom; Split bedroom floorplan; Walk-in closets; Pantry
• Laundry & utility: Washer hookup; Dryer hookup; Laundry in garage; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $1.09M.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $872k (20.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $710k (35.2% below list).
• Recommended offer: $710k (35.2% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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: 125 active listings in the ZIP; 5 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).

Forward outlook

• In year one you build about $27k of equity ($8k loan paydown + $20k appreciation (1.8% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$70k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($1.06M) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 17y 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 $500k; list at $1.09M implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $709,782 (35.2% 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. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.65% ✗
• Cap rate: 4.91%
• Cash-on-cash: -4.94%
• DSCR: 0.78
• GRM: 12.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.95×
• Total profit: $-16,671
• Equity at exit: $420,117

10-year hold

• IRR: 3.4%
• Equity multiple: 1.46×
• Total profit: $141,767
• Equity at exit: $596,052

Cash invested: $306,600 (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 33031

• Home prices YoY: 0.3%
• Active inventory: 125
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $7,098 high
• Mortgage (P&I): −$5,742
• Tax from tax record: −$670 /mo · $8,043/yr
• Insurance: −$456
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,491
• Net cashflow: $-1,262

Break-even live

Break-even rent $8,695

Max offer price $872,141

Occupancy floor —

Sensitivity live

Price	-10% $-642	-5% $-952	+0% $-1,262	+5% $-1,571	+10% $-1,881
Rent	-10% $-1,822	-5% $-1,542	+0% $-1,262	+5% $-981	+10% $-701
Rate	-1.0pp $-710	-0.5pp $-983	base $-1,262	+0.5pp $-1,545	+1.0pp $-1,834

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: $273,750
• Closing costs: $32,850
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19600 SW 256th St Unit A Homestead, FL	4.0	3.0	2300	$4,000	$1.74	25d	1	1.17mi
18245 SW 228th St Miami, FL	4.0	3.0	3000	$6,250	$2.08	25d	1	1.18mi
22300 SW 184th Ave Miami, FL	3.0	2.0	2693	$3,990	$1.48	25d	1	1.27mi
18321 SW 224th St Miami, FL	4.0	2.5	3134	$12,500	$3.99	23d	1	1.32mi
18851 SW 218th St Miami, FL	4.0	3.5	3400	$8,000	$2.35	25d	1	1.49mi

Listing history 50 events

1. 2026-06-21
   days on market $1,095,000 Active 43 DOM
2. 2026-06-18
   days on market $1,095,000 Active 40 DOM
3. 2026-06-17
   days on market $1,095,000 Active 39 DOM
4. 2026-06-16
   days on market $1,095,000 Active 38 DOM
5. 2026-06-15
   days on market $1,095,000 Active 37 DOM
6. 2026-06-13
   days on market $1,095,000 Active 35 DOM
7. 2026-06-09
   days on market $1,095,000 Active 31 DOM
8. 2026-06-08
   days on market $1,095,000 Active 30 DOM
9. 2026-06-07
   days on market $1,095,000 Active 29 DOM
10. 2026-06-04
    days on market $1,095,000 Active 26 DOM
11. 2026-06-03
    days on market $1,095,000 Active 25 DOM
12. 2026-06-02
    days on market $1,095,000 Active 24 DOM
13. 2026-06-01
    days on market $1,095,000 Active 23 DOM
14. 2026-05-31
    days on market $1,095,000 Active 22 DOM
15. 2026-05-08
    listed $1,095,000 Active
16. 2026-04-28
    listed $5,000
17. 2025-08-20
    price $889,000
18. 2025-08-07
    price $884,500
19. 2025-08-07
    price $874,500
20. 2025-07-18
    price $879,500
21. 2025-06-17
    price $899,995
22. 2025-06-01
    price $925,000
23. 2025-05-02
    price $939,000
24. 2025-04-12
    listed $949,000 Active
25. 2024-12-26
    historical
26. 2024-10-25
    price $894,000
27. 2024-09-30
    price $895,000
28. 2024-06-18
    listed $950,000 Active
29. 2024-06-12
    historical
30. 2024-04-12
    price $1,045,000
31. 2024-03-19
    price $1,049,000
32. 2024-02-15
    price $1,094,000
33. 2023-10-31
    listed $1,095,000 Active
34. 2023-10-20
    listed $999,999 Active
35. 2023-05-01
    historical
36. 2023-04-30
    status Active
37. 2023-03-18
    price $1,280,000
38. 2023-02-13
    price $1,290,000
39. 2023-02-08
    price $1,400,000
40. 2023-01-16
    listed $1,490,000 Active
41. 2016-08-16
    historical
42. 2015-03-23
    soldstatus $500,000
43. 2015-03-10
    soldstatus $500,000 Sold
44. 2015-03-10
    historical
45. 2014-11-04
    listed $579,000 Active
46. 2014-10-07
    historical
47. 2014-04-02
    price $599,000
48. 2014-03-12
    listed $649,000 Active
49. 2011-11-08
    listed $699,000
50. 2010-10-04
    listed $749,900

ⓘ 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: $8,043 · $670/mo
• Projected year-2 tax: $9,088 · $757/mo
• Expected delta: +$1,045/yr (+$87/mo · 13.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $85,174
• − Mortgage interest: −$61,337
• − Property taxes: −$8,043
• − Insurance: −$5,475
• − Repairs & maintenance: −$6,814
• − Management: −$6,814
• − Depreciation: −$31,855
• Taxable loss: −$35,164
• Est. tax savings @ 24.0%: +$8,439
• After-tax cash flow: $-6,699/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

• City population: 191,470
• Population (ZIP): 7,795

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% Two or more races 37% White 32% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Cuban 44% Salvadoran 1%
• Common ancestry: Lithuanian 2% Romanian 1% German 1%
• Foreign-born: 42% · Canada, Jamaica, Dominican Republic
• Languages at home: 35% English-only · Spanish 65%

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: ▲ 1.80%
• Current HPI: 672.14
• Rent YoY: —
• Metro: —
• 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

+3675.9% since first listed

40 events — show timeline

• 2026-05-08 Listed $1,095,000 MARMLS
• 2026-04-28 Listed for Rent $5,000 MARMLS
• 2025-08-20 Price Changed $889,000 MARMLS
• 2025-08-07 Price Changed $884,500 MARMLS
• 2025-08-07 Price Changed $874,500 MARMLS
• 2025-07-18 Price Changed $879,500 MARMLS
• 2025-06-17 Price Changed $899,995 MARMLS
• 2025-06-01 Price Changed $925,000 MARMLS
• 2025-05-02 Price Changed $939,000 MARMLS
• 2025-04-12 Listed $949,000 MARMLS
• 2024-12-26 Listing Removed — MARMLS
• 2024-10-25 Price Changed $894,000 MARMLS
• 2024-09-30 Price Changed $895,000 MARMLS
• 2024-06-18 Listed $950,000 MARMLS
• 2024-06-12 Listing Removed — MARMLS
• 2024-04-12 Price Changed $1,045,000 MARMLS
• 2024-03-19 Price Changed $1,049,000 MARMLS
• 2024-02-15 Price Changed $1,094,000 MARMLS
• 2023-10-31 Listed $1,095,000 MARMLS
• 2023-10-20 Listed $999,999 MARMLS
• 2023-05-01 Listing Removed — MARMLS
• 2023-04-30 Relisted — MARMLS
• 2023-03-18 Price Changed $1,280,000 MARMLS
• 2023-02-13 Price Changed $1,290,000 MARMLS
• 2023-02-08 Price Changed $1,400,000 MARMLS
• 2023-01-16 Listed $1,490,000 MARMLS
• 2016-08-16 Listing Removed — SCMLS
• 2015-03-23 Sold (Public Records) $500,000 Public Records
• 2015-03-10 Sold (MLS) $500,000 MARMLS
• 2015-03-10 Listing Removed — MARMLS
• 2014-11-04 Listed $579,000 MARMLS
• 2014-10-07 Listing Removed — MARMLS
• 2014-04-02 Price Changed $599,000 MARMLS
• 2014-03-12 Listed $649,000 MARMLS
• 2011-11-08 Listed $699,000 MARMLS
• 2010-10-04 Listed $749,900 MARMLS
• 2009-06-16 Listed $949,000 SCMLS
• 2001-07-03 Sold (Public Records) $350,000 Public Records
• 1988-06-01 Sold (Public Records) $205,000 Public Records
• 1974-08-01 Sold (Public Records) $29,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $8,043 · +6.1% YoY. Source: county tax records.