1662 SE 27th Dr #209 · Homestead, FL 33035

$199,500

3 bd · 2.0 ba · 1,076 sqft · Condo public records · 76 Days on market

Built 2006 $358/mo HOA · 16% 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 +8.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0
• DSCR +2.3/10.0
• Rent growth +1.7/5.0

Listing remarks MLS

* * * PLEASE CONTACT LISTING OFFICE FOR SHOWING INSTRUCTIONS * * *

Key facts

• $358 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association fee covers grounds maintenance and roof; Community amenities include pool and tennis courts

Exterior

• Parking: Assigned parking; Detached carport (1 space); Guest parking; One covered space assigned (total covered spaces: 2)
• Security: Complex fenced; Doorman; Security guard
• Utilities: Central cooling
• Home design: Attached property; 2 stories; Entry on second level
• Construction: Brick and block construction; Resale property
• Exterior features: Tennis courts; Association pool

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Unfurnished; Second floor entry; Main level primary suite
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-174 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (15.4% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $169k (15.4% below list) — sets the bar for cash-flow.
• Cap rate 5.2% 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: Gateway Environmental K-8 Learning Center (math 23% / reading 34%, grade F, #1,943 of 2,144 statewide, top 91%, 1,355 students, 74% 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 (-24 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 falling (-3.2%/yr); 466 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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 38% 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 76 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→33/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $168,768 (15.4% 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 76 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.10% ✓
• Cap rate: 5.25%
• Cash-on-cash: -3.74%
• DSCR: 0.83
• GRM: 7.6

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: -27.3%
• Equity multiple: 0.11×
• Total profit: $-49,469
• Equity at exit: $29,746

10-year hold

• IRR: -52.1%
• Equity multiple: -0.44×
• Total profit: $-80,699
• Equity at exit: $17,249

Cash invested: $55,860 (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: 466
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,190 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$417 /mo · $4,998/yr
• Insurance: −$83
• HOA: −$358
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $-174

Break-even live

Break-even rent $2,410

Max offer price $168,768

Occupancy floor —

Sensitivity live

Price	-10% $-61	-5% $-118	+0% $-174	+5% $-230	+10% $-287
Rent	-10% $-347	-5% $-260	+0% $-174	+5% $-87	+10% $-1
Rate	-1.0pp $-73	-0.5pp $-123	base $-174	+0.5pp $-226	+1.0pp $-278

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2728 SE 17th Ave #202 Homestead, FL	3.0	2.0	1182	$1,700	$1.44	26d	1	0.01mi
2731 SE 17th Ave #210 Homestead, FL	3.0	2.0	1182	$2,000	$1.69	26d	1	0.03mi
1666 SE 27th Ct #108 Homestead, FL	3.0	2.0	1166	$2,000	$1.72	9d	1	0.03mi
2537 SE 27th Ct Unit 2537 Homestead, FL	3.0	2.5	1443	$2,600	$1.80	26d	1	0.03mi
1663 SE 27th Dr #108 Homestead, FL	3.0	2.0	1166	$2,300	$1.97	13d	1	0.03mi
1666 SE 27th Ct Homestead, FL	3.0	2.0	1113	$1,800	$1.62	17d	2	0.05mi
2637 SE 16th Ter #206 Homestead, FL	2.0	2.0	930	$2,100	$2.26	26d	1	0.07mi
2755 SE 16th Ave #103 Homestead, FL	3.0	2.0	1060	$2,000	$1.89	26d	1	0.07mi
2755 SE 16th Ave Homestead, FL	3.0	2.0	1076	$1,900	$1.77	26d	1	0.07mi
2811 SE 17th Ave Homestead, FL	3.0	2.0	1182	$2,100	$1.78	26d	1	0.08mi
2735 SE 16th Ave #100 Homestead, FL	3.0	2.0	1060	$1,790	$1.69	26d	1	0.08mi
2726 SE 16th Ave #173 Homestead, FL	3.0	3.0	1423	$2,040	$1.43	26d	1	0.10mi
1568 SE 26th St Homestead, FL	2.0	2.0	916	$1,775	$1.94	26d	2	0.11mi
1568 SE 26th St Homestead, FL	2.0	2.0	903	$1,800	$1.99	3d	1	0.11mi
1658 SE 28th Ct #201 Homestead, FL	3.0	2.0	1182	$1,900	$1.61	9d	1	0.11mi
1658 SE 28th Ct #200 Homestead, FL	3.0	2.0	1076	$2,500	$2.32	26d	1	0.11mi
1658 SE 28th Ct #202 Homestead, FL	3.0	2.0	1182	$1,900	$1.61	13d	1	0.11mi
2551 SE 16th Ter #109 Homestead, FL	3.0	2.0	1060	$1,850	$1.75	26d	1	0.12mi
1539 SE 27th St #107 Homestead, FL	3.0	2.0	1060	$2,000	$1.89	0d	1	0.13mi
1539 SE 27th St #201 Homestead, FL	2.0	2.0	930	$1,700	$1.83	20d	1	0.13mi
1539 SE 27th St #201 Homestead, FL	2.0	2.0	930	$1,700	$1.83	26d	1	0.13mi
1586 SE 27th Ct #178 Homestead, FL	3.0	3.0	1423	$2,200	$1.55	4d	1	0.13mi
1586 SE 27th Ct #178 Homestead, FL	3.0	3.0	1423	$2,200	$1.55	24d	1	0.13mi
2582 SE 29th St Unit 2582 Homestead, FL	3.0	3.0	1328	$2,500	$1.88	26d	1	0.13mi
2812 SE 16th Ave #121 Homestead, FL	4.0	3.0	1423	$2,400	$1.69	26d	1	0.13mi
2524 SE 16th Rd #100 Homestead, FL	3.0	2.0	1060	$2,150	$2.03	26d	1	0.14mi
2903 SE 17th Ave #110 Homestead, FL	3.0	2.0	1166	$2,050	$1.76	13d	1	0.14mi
2903 SE 17th Ave #211 Homestead, FL	3.0	2.0	1076	$2,000	$1.86	26d	1	0.14mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	9d	1	0.15mi
1535 SE 26th St #206 Homestead, FL	2.0	2.0	930	$1,790	$1.92	26d	1	0.15mi
2542 SE 29th St Unit 2542 Homestead, FL	3.0	2.5	1442	$2,550	$1.77	6d	1	0.15mi
2514 SE 29th St Unit 2514 Homestead, FL	3.0	2.5	1431	$2,700	$1.89	7d	1	0.15mi
1661 SE 29th Ct Homestead, FL	3.0	2.0	1076	$2,025	$1.88	19d	2	0.17mi
2460 SE 16th Ter Homestead, FL	2.0–3.0	2.0	1076	$1,900	$1.77	0d	2	0.17mi
1536 SE 25th St #206 Homestead, FL	2.0	2.0	930	$1,780	$1.91	26d	1	0.17mi
1543 SE 25th St Homestead, FL	3.0	2.0	1121	$2,125	$1.90	26d	2	0.17mi
1543 SE 25th St #100 Homestead, FL	3.0	2.0	1060	$2,300	$2.17	21d	1	0.17mi
1656 SE 29th Ct Homestead, FL	3.0	2.0	1113	$1,950	$1.75	12d	2	0.18mi
1656 SE 29th Ct Homestead, FL	3.0	2.0	1113	$1,950	$1.75	6d	2	0.18mi
2470 SE 15th Pl #335 Homestead, FL	3.0	3.0	1423	$2,200	$1.55	26d	1	0.19mi

HOA detail condo

• Monthly dues: $358 · $4,296/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-04
   days on market $199,500 Active 76 DOM
2. 2026-06-03
   days on market $199,500 Active 75 DOM
3. 2026-06-02
   days on market $199,500 Active 74 DOM
4. 2026-06-01
   days on market $199,500 Active 73 DOM
5. 2026-05-31
   days on market $199,500 Active 72 DOM
6. 2026-05-20
   price $199,500
7. 2026-03-24
   historical $1,950
8. 2026-03-20
   listed $220,000 Active
9. 2026-03-12
   listed $1,950
10. 2025-01-28
    historical $1,850
11. 2025-01-10
    price $1,850
12. 2025-01-10
    price $1,950
13. 2025-01-09
    price $1,850
14. 2024-12-14
    price $1,950
15. 2024-12-06
    listed $2,000
16. 2024-11-21
    historical $2,000
17. 2024-09-04
    listed $2,000
18. 2022-06-06
    soldstatus $200,000
19. 2022-05-26
    soldstatus $200,000 Closed 70-char remark

    Show marketing remark (70 chars)

    * * * PLEASE CONTACT LISTING OFFICE FOR SHOWING INSTRUCTIONS * * *

20. 2022-01-12
    historical Active Under Contract 70-char remark

    Show marketing remark (70 chars)

    * * * PLEASE CONTACT LISTING OFFICE FOR SHOWING INSTRUCTIONS * * *

21. 2021-11-19
    status Active 70-char remark

    Show marketing remark (70 chars)

    * * * PLEASE CONTACT LISTING OFFICE FOR SHOWING INSTRUCTIONS * * *

22. 2021-11-08
    historical Active Under Contract 70-char remark

    Show marketing remark (70 chars)

    * * * PLEASE CONTACT LISTING OFFICE FOR SHOWING INSTRUCTIONS * * *

23. 2021-11-01
    price $178,500 70-char remark

    Show marketing remark (70 chars)

    * * * PLEASE CONTACT LISTING OFFICE FOR SHOWING INSTRUCTIONS * * *

24. 2021-10-27
    listed $168,000 Active 70-char remark

    Show marketing remark (70 chars)

    * * * PLEASE CONTACT LISTING OFFICE FOR SHOWING INSTRUCTIONS * * *

25. 2013-07-26
    soldstatus $38,500
26. 2013-07-23
    soldstatus $38,500 Sold 197-char remark

    Show marketing remark (197 chars)

    GREAT FOR INVESTORS! 3 BEDROOM 2 BATH CONDO IN KEYS COVE, HOMESTEAD, JUST NEEDS A LITTLE TLC AND THEN READY TO RENT. LIST PRICE PRE-APPROVED BY LENDER BUT DOES NOT INCLUDE BACK HOA FEES. CASH ONLY.

ⓘ 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: $4,998 · $417/mo
• Projected year-2 tax: $4,998 · $417/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) · 61% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 33 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: $26,277
• − Mortgage interest: −$11,175
• − Property taxes: −$4,998
• − Insurance: −$998
• − Repairs & maintenance: −$2,102
• − Management: −$2,102
• − HOA: −$4,296
• − Depreciation: −$5,804
• Taxable loss: −$5,198
• Est. tax savings @ 24.0%: +$1,248
• After-tax cash flow: $-840/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

+418.2% since first listed

21 events — show timeline

• 2026-05-20 Price Changed $199,500 MARMLS
• 2026-03-24 Rental Removed $1,950 MARMLS
• 2026-03-20 Listed $220,000 MARMLS
• 2026-03-12 Listed for Rent $1,950 MARMLS
• 2025-01-28 Rental Removed $1,850 MARMLS
• 2025-01-10 Price Changed $1,850 MARMLS
• 2025-01-10 Price Changed $1,950 MARMLS
• 2025-01-09 Price Changed $1,850 MARMLS
• 2024-12-14 Price Changed $1,950 MARMLS
• 2024-12-06 Listed for Rent $2,000 MARMLS
• 2024-11-21 Rental Removed $2,000 MARMLS
• 2024-09-04 Listed for Rent $2,000 MARMLS
• 2022-06-06 Sold (Public Records) $200,000 Public Records
• 2022-05-26 Sold (MLS) $200,000 MARMLS
• 2022-01-12 Contingent — MARMLS
• 2021-11-19 Relisted — MARMLS
• 2021-11-08 Contingent — MARMLS
• 2021-11-01 Price Changed $178,500 MARMLS
• 2021-10-27 Listed $168,000 MARMLS
• 2013-07-26 Sold (Public Records) $38,500 Public Records
• 2013-07-23 Sold (MLS) $38,500 MARMLS

Property tax history

+7.3%/yr

Latest (2025): $4,998 · -2.7% YoY. Source: county tax records.