427 NE 21st Ter · Homestead, FL 33034

$5,000

4 bd · 3.0 ba · 1,592 sqft · Townhouse public records · 12 Days on market

Built 2006 1,804 sqft 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice four bedroom townhouse featuring one full bedroom and bath downstairs, tiled floord, updated kitchen with granite countertops and stainless appliances, garage, a fenced patio that has a canal view, etc.

Key facts

• Built 2006
• Listed 11 days

Property features AI

Finance

• Other: Zoning: Other; Subdivision: Other (999.9); Side: Bay/Gulf
• Financial info: Property listed for auction
• HOA & community: No association fee; Fee includes: other; Association does not have first right of refusal

Exterior

• Utilities: Utilities: other (see remarks)
• Home design: Built in 2006; Other construction; Above flood: no
• Construction: Other construction material; Built in 2006
• Exterior features: No waterfront; No waterview; Dockage: other dockage; Less than 1/4 acre lot; Deed restrictions: none; Pets: other (see remarks); Rentals not allowed

Interior

• Bathrooms: 3 full bathrooms
• Interior features: Other appliances included (see remarks); Family room

🏷️ Possibly a rental listed for sale. The $5,000 price doesn't fit this home's estimated sale value (~$483,570) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $5k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $5k).
• Cap rate 553.2% 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.
• Zoned schools: Campbell Drive K-8 Center (math 25% / reading 28%, grade F, #2,009 of 2,144 statewide, top 94%, 903 students, 80% FRL); Homestead Middle School (math 23% / reading 25%, grade F, #532 of 571 statewide, top 94%, 666 students, 81% FRL); Homestead Senior High School (math 24% / reading 23%, grade F, #533 of 667 statewide, top 80%, 2,020 students, 74% FRL).
• Zoned-school proficiency averages 25% at this address vs 50% district-wide (-25 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 (-2.9%/yr); 617 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $2,928/mo this rent would consume 74% of the median local household income ($47k/yr) (locally 1516% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $35 of loan paydown is wiped out by about $150 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $5,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 58.56% ✓
• Cap rate: 553.17%
• Cash-on-cash: 1953.12%
• DSCR: 87.90
• GRM: 0.1

CMA / ARV

• ARV (on-the-fly): $483,570
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2109 NE 3rd Ct	0.08mi	3/2.5 (-1)	1,508 (-5%)	2mo	$315,000	$209	79
771 SE 2nd St	1.34mi	3/2.5 (-1)	1,587 (-0%)	8mo	$340,000	$214	51
141 SE 7th Rd	1.32mi	3/2.5 (-1)	1,587 (-0%)	18mo	$341,000	$215	42
1026 NE 30th Ave	0.90mi	3/2.5 (-1)	1,508 (-5%)	9mo	$340,000	$225	42
3216 SE 6th St	1.31mi	3/2.5 (-1)	1,432 (-10%)	5mo	$355,000	$248	37
3205 SE 5th Ct	1.26mi	3/2.5 (-1)	1,432 (-10%)	9mo	$350,000	$244	34
2653 SE 13th Ct	1.29mi	3/2.5 (-1)	1,827 (+15%)	5mo	$355,000	$194	30
3322 NE 11th Dr #3322	1.35mi	3/2.0 (-1)	1,380 (-13%)	23mo	$450,000	$326	15

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 91.14×
• Total profit: $126,191
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 180.78×
• Total profit: $251,688
• Equity at exit: $432

Cash invested: $1,400 (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 33034

• Home prices YoY: -5.9%
• Rents YoY: -2.9%
• Active inventory: 617
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,928 high
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $2,127

Break-even live

Break-even rent $236

Max offer price $5,000

Occupancy floor 22%

Sensitivity live

Price	-10% $2,130	-5% $2,128	+0% $2,127	+5% $2,125	+10% $2,123
Rent	-10% $1,895	-5% $2,011	+0% $2,127	+5% $2,242	+10% $2,358
Rate	-1.0pp $2,129	-0.5pp $2,128	base $2,127	+0.5pp $2,125	+1.0pp $2,124

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
496 NE 21st Ter Homestead, FL	4.0	3.0	1592	$2,500	$1.57	26d	1	0.07mi
521 NE 21st Ter Homestead, FL	3.0	2.5	1650	$2,150	$1.30	26d	1	0.09mi
551 NE 21st Ter Homestead, FL	4.0	3.0	1580	$2,400	$1.52	3d	1	0.10mi
551 NE 21st Ter Homestead, FL	4.0	3.0	1580	$2,400	$1.52	4d	1	0.10mi
607 NE 21st Ter Homestead, FL	4.0	3.0	1580	$2,800	$1.77	23d	1	0.13mi
662 NE 21st Ter Homestead, FL	3.0	2.5	1564	$2,400	$1.53	3d	1	0.18mi
232 NE 23rd Ter #232 Homestead, FL	3.0	2.5	2200	$3,200	$1.45	19d	1	0.22mi
2356 NE 3rd Ct #2356 Homestead, FL	3.0	2.0	1430	$2,999	$2.10	26d	1	0.22mi
2356 NE 3rd Ct #2356 Homestead, FL	3.0	2.0	1430	$2,999	$2.10	9d	1	0.22mi
156 NE 24th Ave Homestead, FL	3.0	2.5	2115	$3,100	$1.47	23d	1	0.29mi
157 NE 24th Ter Homestead, FL	4.0	2.0	1638	$3,600	$2.20	26d	1	0.35mi
2262 SE 2nd St Homestead, FL	3.0	2.0	1987	$3,200	$1.61	26d	1	0.46mi
195 SE 24th Ave Homestead, FL	4.0	3.0	2045	$3,500	$1.71	26d	1	0.49mi
2615 NE 4th St #204 Homestead, FL	3.0	2.0	1201	$1,800	$1.50	23d	1	0.50mi
2615 NE 4th St #204 Homestead, FL	3.0	2.0	1201	$1,700	$1.42	9d	1	0.50mi
1679 Sunrise Blvd Unit 1679 Homestead, FL	3.0	2.0	1358	$2,500	$1.84	26d	1	0.53mi
371 NE 26th Ter #101 Homestead, FL	3.0	2.0	1194	$2,100	$1.76	12d	1	0.53mi
420 SE 23rd Ln Homestead, FL	3.0	2.0	2099	$4,700	$2.24	26d	1	0.56mi
2436 SE 3rd St Homestead, FL	4.0	3.0	2045	$4,000	$1.96	26d	1	0.57mi
2020 SE 5th Pl Unit 2020 Homestead, FL	3.0	2.0	1543	$2,700	$1.75	26d	1	0.60mi
532 SE 21st Dr Homestead, FL	3.0	2.0	1488	$2,690	$1.81	0d	1	0.61mi
178 NE 14th Ave Homestead, FL	3.0	2.5	1847	$2,940	$1.59	23d	1	0.65mi
2235 SE 6th Ct Homestead, FL	3.0	2.0	1488	$2,800	$1.88	26d	1	0.66mi
163 NE 13th Cir Homestead, FL	3.0	2.5	1790	$3,200	$1.79	15d	1	0.73mi
163 NE 13th Cir Unit N/A Homestead, FL	3.0	2.5	1790	$3,200	$1.79	19d	1	0.73mi
1686 SE 6th St Homestead, FL	4.0	2.5	2138	$4,100	$1.92	26d	1	0.73mi
1686 SE 6th St Homestead, FL	4.0	2.5	2138	$4,100	$1.92	4d	1	0.73mi
2615 SE 5th Ct Unit 2615 Homestead, FL	4.0	3.0	2073	$3,800	$1.83	26d	1	0.74mi
2615 SE 5th Ct Homestead, FL	4.0	3.0	2073	$3,400	$1.64	0d	1	0.74mi
142 SE 28th Ter #7 Homestead, FL	3.0	2.0	1151	$2,200	$1.91	26d	1	0.76mi
2849 NE 1st Dr Homestead, FL	5.0	3.0	2058	$3,500	$1.70	26d	1	0.76mi
15945 SW 304th St Homestead, FL	3.0	2.0	1288	$3,000	$2.33	9d	1	0.77mi
2645 SE 5th Ct Homestead, FL	3.0	2.0	1750	$3,000	$1.71	26d	1	0.77mi
134 SE 28th Ter Homestead, FL	3.0	2.0–2.5	1238	$2,250	$1.82	26d	2	0.80mi
134 SE 28th Ter Homestead, FL	3.0	2.0–2.5	1238	$2,225	$1.80	0d	2	0.80mi
713 SE 15th Ave Homestead, FL	4.0	3.0	2085	$4,300	$2.06	26d	1	0.82mi
15320 SW 305th St Homestead, FL	3.0	1.0	1100	$2,500	$2.27	12d	1	0.83mi
1430 NE 11th St Homestead, FL	4.0	2.0	2150	$4,435	$2.06	26d	1	0.84mi
30321 SW 155th Ave Unit n/a Homestead, FL	3.0	1.5	1270	$2,875	$2.26	9d	1	0.85mi
30321 SW 155th Ave Unit n/a Homestead, FL	3.0	1.5	1270	$2,900	$2.28	26d	1	0.85mi

Listing history 11 events

1. 2026-05-14
   listed $5,000 Active
2. 2025-11-23
   historical
3. 2025-08-03
   listed $369,900 Active
4. 2023-08-30
   soldstatus $345,000
5. 2019-08-19
   soldstatus $200,000
6. 2019-08-12
   soldstatus $200,000 Sold 214-char remark

   Show marketing remark (214 chars)

   Very nice four bedroom townhouse featuring one full bedroom and bath downstairs, tiled floord, updated kitchen with granite countertops and stainless appliances, garage, a fenced patio that has a canal view, etc.

7. 2019-07-03
   status Pending 214-char remark

   Show marketing remark (214 chars)

   Very nice four bedroom townhouse featuring one full bedroom and bath downstairs, tiled floord, updated kitchen with granite countertops and stainless appliances, garage, a fenced patio that has a canal view, etc.

8. 2019-05-08
   status Active 214-char remark

   Show marketing remark (214 chars)

   Very nice four bedroom townhouse featuring one full bedroom and bath downstairs, tiled floord, updated kitchen with granite countertops and stainless appliances, garage, a fenced patio that has a canal view, etc.

9. 2019-05-03
   status Backup Contract 214-char remark

   Show marketing remark (214 chars)

   Very nice four bedroom townhouse featuring one full bedroom and bath downstairs, tiled floord, updated kitchen with granite countertops and stainless appliances, garage, a fenced patio that has a canal view, etc.

10. 2019-04-29
    listed $199,995 Active 214-char remark

    Show marketing remark (214 chars)

    Very nice four bedroom townhouse featuring one full bedroom and bath downstairs, tiled floord, updated kitchen with granite countertops and stainless appliances, garage, a fenced patio that has a canal view, etc.

11. 2016-09-14
    soldstatus $145,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AH · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $35,137
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,811
• − Management: −$2,811
• − Depreciation: −$145
• Taxable income: $27,165
• Est. tax owed @ 24.0%: −$6,520
• After-tax cash flow: $19,000/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): 23,823
• Household income: $47,170
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 1516.0

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: Majority Hispanic (62%)
• Race & ethnicity: Hispanic / Latino 62% Black 28% Two or more races 24% White 8%
• Hispanic origin (detail): Mexican 20% Puerto Rican 5% Cuban 13% Dominican 2%
• Common ancestry: Hispanic 4%
• Foreign-born: 34% · Canada, Dominican Republic, Guatemala
• Languages at home: 38% English-only · Spanish 56% French/Haitian/Cajun 5%

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: ▼ -32.64%
• Current HPI: 521.6856
• Rent YoY: ▼ -2.85%
• 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

-96.6% since first listed

11 events — show timeline

• 2026-05-14 Listed $5,000 FLKMLS
• 2025-11-23 Listing Removed — MARMLS
• 2025-08-03 Listed $369,900 MARMLS
• 2023-08-30 Sold (Public Records) $345,000 Public Records
• 2019-08-19 Sold (Public Records) $200,000 Public Records
• 2019-08-12 Sold (MLS) $200,000 MARMLS
• 2019-07-03 Pending — MARMLS
• 2019-05-08 Relisted — MARMLS
• 2019-05-03 Pending — MARMLS
• 2019-04-29 Listed $199,995 MARMLS
• 2016-09-14 Sold (Public Records) $145,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $7,268 · +0.7% YoY. Source: county tax records.