777 SW 9th Ave #409 · Miami, FL 33130

$179,900

1 bd · 1.0 ba · 551 sqft · Condo public records · 118 Days on market

Built 1987 Good condition $326/sqft · 7% below area Est $194k · 7% under $462/mo HOA · 16% of rent

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Why this score? — see what drove the B+ 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 +28.1/30.0
• ARV discount +10.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.4/5.0
• Schools +2.0/10.0

Listing remarks

🌆🔥 YOUR MIAMI LIFESTYLE STARTS HERE 🔥🌆 Imagine living just minutes from the heart of the city where everything happens! This cozy Condo offers the perfect mix of location, convenience, and vibrant urban living at an affordable price.

Key facts

• $462 HOA
• Garage
• Built 1987

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $567 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 1.4% in Miami — 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 (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, cost of living 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: Riverside Elementary School (math 23% / reading 23%, grade F, #2,070 of 2,144 statewide, top 97%, 993 students, 56% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 61% FRL track the district average.
• Zoned-school proficiency averages 20% at this address vs 50% district-wide (-29 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 (-0.5%/yr); 838 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $2,919/mo this rent would consume 57% of the median local household income ($61k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k 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 118 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $43k; list at $180k implies a 318% 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 $163,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.62% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.51%
• DSCR: 1.60
• GRM: 5.1

CMA / ARV

• ARV (median comp): $193,705
• List price: $179,900
• Delta: -7.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
677 SW 9th Ave #303	0.05mi	1/1.0	688 (+25%)	6mo	$180,000	$262	68
990 NW 1st St #1	0.57mi	1/1.0	580 (+5%)	0mo	$175,000	$302	65
227 NE 2nd St #1909	1.38mi	1/1.0	549 (-0%)	0mo	$395,000	$719	64
151 SE 1st St #1808	1.24mi	1/1.0	564 (+2%)	3mo	$338,000	$599	58
151 SE 1st St #3007	1.24mi	1/1.0	526 (-4%)	3mo	$331,950	$631	55
465 Brickell Ave #5704	1.28mi	1/1.0	597 (+8%)	0mo	$432,500	$724	51
159 NE 6th St #3113	1.46mi	1/1.0	598 (+8%)	9mo	$510,000	$853	43
951 Brickell Ave #2608	1.14mi	1/1.0	639 (+16%)	0mo	$445,000	$696	40
1600 SW 1st Ave #809	0.86mi	1/1.0	675 (+22%)	0mo	$410,000	$607	40
227 NE 2nd St #2601	1.38mi	1/1.0	455 (-17%)	4mo	$385,000	$846	37
1021 NW 3rd St #308	0.74mi	1/1.0	465 (-16%)	9mo	$92,000	$198	33
1930 SW 2nd St #4	1.18mi	2/2.0 (+1)	624 (+13%)	4mo	$222,120	$356	31

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

Projected returns pro-forma

-1.79% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.16×
• Total profit: $8,060
• Equity at exit: $36,705

10-year hold

• IRR: 7.9%
• Equity multiple: 1.60×
• Total profit: $30,269
• Equity at exit: $33,068

Cash invested: $50,372 (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 →

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Median asking: $260,000 ($456/sqft)
• Median days on market: 196 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -22.9% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33130

• Home prices YoY: -0.5%
• Rents YoY: -0.5%
• Active inventory: 838
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,919 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$259 /mo · $3,104/yr
• Insurance: −$75
• HOA: −$462
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $567

Break-even live

Break-even rent $2,201

Max offer price $179,900

Occupancy floor 76%

Sensitivity live

Price	-10% $669	-5% $618	+0% $567	+5% $516	+10% $465
Rent	-10% $337	-5% $452	+0% $567	+5% $683	+10% $798
Rate	-1.0pp $658	-0.5pp $613	base $567	+0.5pp $521	+1.0pp $473

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: $44,975
• Closing costs: $5,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 NE 1st Ave Unit 1227496P Miami, FL	3.0	1.0–3.0	904	$8,280	$9.16	34d	4	1.48mi
159 NE 6th St Unit 1032222P Miami, FL	3.0	1.0–3.0	796	$9,799	$12.31	3d	4	1.48mi

HOA detail $462/mo · $5,544/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-07-01
   days on market $179,900 Active 118 DOM
2. 2026-06-30
   days on market $179,900 Active 117 DOM
3. 2026-06-29
   days on market $179,900 Active 116 DOM
4. 2026-06-28
   days on market $179,900 Active 115 DOM
5. 2026-06-27
   days on market $179,900 Active 114 DOM
6. 2026-06-26
   days on market $179,900 Active 113 DOM
7. 2026-06-24
   days on market $179,900 Active 111 DOM
8. 2026-06-22
   days on market $179,900 Active 109 DOM
9. 2026-06-21
   days on market $179,900 Active 108 DOM
10. 2026-06-18
    days on market $179,900 Active 105 DOM
11. 2026-06-17
    days on market $179,900 Active 104 DOM
12. 2026-06-16
    days on market $179,900 Active 103 DOM
13. 2026-06-15
    days on market $179,900 Active 102 DOM
14. 2026-06-13
    days on market $179,900 Active 100 DOM
15. 2026-06-09
    days on market $179,900 Active 96 DOM
16. 2026-06-08
    days on market $179,900 Active 95 DOM
17. 2026-06-07
    statusdays on market $179,900 Active 94 DOM
18. 2026-06-04
    days on market $179,900 Active Under Contract 91 DOM
19. 2026-06-03
    days on market $179,900 Active Under Contract 90 DOM
20. 2026-06-02
    days on market $179,900 Active Under Contract 89 DOM
21. 2026-06-01
    days on market $179,900 Active Under Contract 88 DOM
22. 2026-05-31
    days on market $179,900 Active Under Contract 87 DOM
23. 2026-03-06
    listed $179,900 Active
24. 1989-03-30
    soldstatus $43,000

ⓘ 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: $3,104 · $259/mo
• Projected year-2 tax: $3,104 · $259/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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: $35,033
• − Mortgage interest: −$10,077
• − Property taxes: −$3,104
• − Insurance: −$900
• − Repairs & maintenance: −$2,803
• − Management: −$2,803
• − HOA: −$5,544
• − Depreciation: −$5,233
• Taxable income: $4,569
• Est. tax owed @ 24.0%: −$1,097
• After-tax cash flow: $5,711/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.

Condition & rehab AI · 9 photos

Good 80/100 Cosmetic rehab Est. rehab $2,755–$8,265 screening

This property is in good condition with cosmetic updates needed to enhance its resale and rental value.

Components & finishes AI

Roof tile · good Flooring tile

Deferred maintenance Est. $10,000–$30,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — Roof appears to be in poor condition with visible damage and missing shingles.

Repairs flagged

• Minor Kitchen cabinets — The cabinets are dated and could be replaced for a fresh look.
• Minor Bathroom fixtures — The fixtures could be updated for a more modern look.

Value-add opportunities

• Resale Updating the kitchen cabinets and fixtures — Updating the kitchen will make it more appealing to potential buyers. ↑
• Resale Updating the bathroom fixtures — Updating the bathroom will make it more appealing to potential buyers. ↑
• Both Landscaping improvements — Landscaping improvements will enhance the curb appeal and attract more renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 20/100

Zoned Schools

Elementary Riverside Elementary School F FL #2,070/2,144 Nat'l #31,702/41,679 Middle Jose De Diego Middle School F FL #549/571 Nat'l #11,208/14,009 High Booker T. Washington Senior High F FL #604/667 Nat'l #15,239/17,239

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

B Composite livability gradescore 78/100

Livability — Miami

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment C- Housing B- Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 3,126,439 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 34,964
• Household income: $61,009
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 44% White 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 24% Dominican 4%
• Common ancestry: Romanian 2% Estonian 1% Lithuanian 1%
• Foreign-born: 60% · Canada, Jamaica, Guatemala
• Languages at home: 23% English-only · Spanish 70% Other Indo-European 2% Russian/Polish/Slavic 1%

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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: ▼ -1.79%
• Current HPI: 344.7752
• Rent YoY: ▼ -0.53%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

+318.4% since first listed

2 events — show timeline

• 2026-03-06 Listed $179,900 Beaches MLS
• 1989-03-30 Sold (Public Records) $43,000 Public Records

Property tax history

+30.0%/yr

Latest (2025): $3,104 · +7.1% YoY. Source: county tax records.