1426 SE 24th Ter · Homestead, FL 33035

$5,000

3 bd · 2.0 ba · 1,731 sqft · Townhouse public records · 6 Days on market

Built 2020 4,000 sqft lot

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Why this score? — see what drove the F 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 +7.6/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0
• 1% rule +2.2/10.0
• DSCR +1.7/10.0
• Rent growth +1.7/5.0

Listing remarks

Foreclosure Auction Ends June 22, 2026 at 9:00 AM EST. Explore this charming 3-bedroom, 2.5-bath residence set in a peaceful and well-located Homestead community. The list price is the opening bid for the online auction. Sold As-is. Explore more details and submit your bid through Federa Home App.

Key facts

• Built 2020
• Listed 6 days

Property features AI

Finance

• Other: Zoning: Other
• Financial info: Property listed for auction
• HOA & community: No association fee; Association fee covers other items (see remarks); No first right of refusal

Exterior

• Utilities: Utilities: other (see remarks)
• Home design: Other property type; Built in 2020; Less than 1/4 acre lot; Facing Bay/Gulf side
• Construction: Other construction; Not above flood
• Exterior features: No waterfront or waterview; Pets allowed with conditions (see remarks); No deed restrictions

Interior

• Bedrooms: Bedroom 1; Bedroom 2; Bedroom 3
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Interior features: Other appliances (see remarks)

🔨 Auction listing. The $5,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $368,703 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $5k.

Deal economics

• At list price, monthly cash flow is $-593 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $5k).
• 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: Rents falling (-3.2%/yr); 462 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,667/mo this rent would consume 47% of the median local household income ($68k/yr) (locally 687% 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 $3k of loan paydown is wiped out by about $11k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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: property tax is 110.6% of price; 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→32/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 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.72% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.12%
• DSCR: 0.77
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $368,703
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2653 SE 13th Ct	0.33mi	3/2.5	1,827 (+6%)	4mo	$355,000	$194	70
2350 SE 19th Ct	0.18mi	4/2.5 (+1)	1,890 (+9%)	10mo	$355,000	$188	61
2591 SE 25th Ct	0.63mi	4/2.5 (+1)	1,828 (+6%)	2mo	$458,690	$251	53
2592 SE 15th Ct #2592	0.28mi	4/3.0 (+1)	1,952 (+13%)	24mo	$415,000	$213	37
2707 SE 15th Ct Unit .	0.44mi	3/2.5	1,483 (-14%)	21mo	$370,000	$249	36

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: -31.8%
• Equity multiple: -0.02×
• Total profit: $-105,183
• Equity at exit: $54,975

10-year hold

• IRR: -59.2%
• Equity multiple: -0.65×
• Total profit: $-169,874
• Equity at exit: $31,879

Cash invested: $103,237 (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: 462
• Price-to-rent: 0.2×

Monthly cashflow live

• Estimated rent: $2,667 high
• Mortgage (P&I): −$1,934
• Tax est. 1.5%: −$461 /mo · $5,531/yr
• Insurance: −$154
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $-593

Break-even live

Break-even rent $3,418

Max offer price $282,928

Occupancy floor —

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: $92,176
• Closing costs: $11,061
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2407 SE 14th St Homestead, FL	3.0	3.0	1704	$2,550	$1.50	15d	1	0.04mi
1427 SE 24th Rd Homestead, FL	4.0	3.0	1964	$2,955	$1.50	24d	1	0.09mi
2746 SE 24th Ter Unit 2746 Homestead, FL	3.0	2.5	1828	$2,650	$1.45	22d	1	0.09mi
2470 SE 15th Ct #2470 Homestead, FL	4.0	3.0	1883	$3,000	$1.59	24d	1	0.12mi
2424 SE 19th Ct Unit 2424 Homestead, FL	2.0	2.5	1431	$2,200	$1.54	12d	1	0.16mi
2764 SE 26th Ave Unit 2764 Homestead, FL	3.0	2.5	1483	$2,450	$1.65	3d	1	0.18mi
2764 SE 26th Ave Unit 2764 Homestead, FL	3.0	2.5	1483	$2,499	$1.69	24d	1	0.18mi
1904 SE 23rd Ave Unit 1904 Homestead, FL	3.0	2.5	1854	$2,750	$1.48	7d	1	0.18mi
1904 SE 23rd Ave Unit 1904 Homestead, FL	3.0	2.5	1854	$2,800	$1.51	24d	1	0.18mi
1575 SE 20th Rd Homestead, FL	3.0	2.0	1693	$2,850	$1.68	24d	1	0.19mi
1575 SE 20th Rd Homestead, FL	3.0	2.0	1693	$2,850	$1.68	7d	1	0.19mi
1916 SE 23rd Ave #1916 Homestead, FL	3.0	2.5	1932	$2,500	$1.29	10d	1	0.20mi
1916 SE 23rd Ave #1916 Homestead, FL	3.0	2.5	1932	$2,500	$1.29	3d	1	0.20mi
1645 SE 20th Rd Unit 1645 Homestead, FL	3.0	2.5	1874	$2,750	$1.47	22d	1	0.20mi
2532 SE 15th Ct Unit 2532 Homestead, FL	3.0	3.0	1704	$2,500	$1.47	14d	1	0.21mi
1328 SE 26th Ter Homestead, FL	3.0	2.5	1695	$2,800	$1.65	24d	1	0.21mi
1158 SE 23rd Ave Unit 1158 Homestead, FL	3.0	2.0	1302	$2,400	$1.84	16d	1	0.21mi
1158 SE 23rd Ave Homestead, FL	3.0	2.0	1302	$2,450	$1.88	18d	1	0.21mi
2525 SE 19th Pl Unit 105B Homestead, FL	3.0	2.0	1220	$2,200	$1.80	24d	1	0.23mi
2201 SE 24th Pl #2201 Homestead, FL	2.0	2.5	1370	$1,850	$1.35	24d	1	0.23mi
2414 SE 21st St Homestead, FL	2.0	2.5	1431	$2,500	$1.75	24d	1	0.24mi
1140 SE 24th Rd Homestead, FL	3.0–4.0	2.5–3.0	1444	$2,377	$1.65	2d	12	0.24mi
2613 SE 13th Ct Homestead, FL	3.0	2.5	1697	$2,600	$1.53	24d	1	0.25mi
2367 SE 11th St Unit 2367 Homestead, FL	3.0	2.5	1302	$2,600	$2.00	24d	1	0.26mi
2367 SE 11th St Unit 2367 Homestead, FL	3.0	2.5	1302	$2,500	$1.92	3d	1	0.26mi
2341 SE 11th St Homestead, FL	4.0	3.0	1374	$2,998	$2.18	22d	1	0.26mi
2209 SE 24th Pl #2209 Homestead, FL	4.0	2.5	1846	$2,700	$1.46	22d	1	0.27mi
1120 SE 26th Ter Unit 1120 Homestead, FL	3.0	2.5	1827	$2,800	$1.53	4d	1	0.27mi
2615 SE 12th St Homestead, FL	3.0	2.5	1827	$2,700	$1.48	24d	1	0.27mi
2732 SE 26th Ave Unit 2732 Homestead, FL	3.0	2.5	1414	$2,500	$1.77	24d	1	0.27mi
1092 SE 23rd Ave #1092 Homestead, FL	3.0	2.5	1302	$2,400	$1.84	24d	1	0.27mi
2430 SE 10th Ct Homestead, FL	4.0	3.0	1374	$3,100	$2.26	24d	1	0.28mi
2605 SE 11th Ct Unit Labs Homestead, FL	3.0	2.5	1827	$2,800	$1.53	24d	1	0.28mi
1980 SE 23rd Ave Unit 1980 Homestead, FL	3.0	2.5	1932	$2,400	$1.24	24d	1	0.28mi
2448 SE 10th Ct Homestead, FL	4.0	3.0	1374	$2,600	$1.89	5d	1	0.28mi
1078 SE 23rd Ter Unit 1078 Homestead, FL	4.0	3.0	1374	$2,750	$2.00	4d	1	0.28mi
2615 SE 12th St #2615 Homestead, FL	3.0	3.0	1827	$2,800	$1.53	24d	1	0.29mi
2205 SE 23rd Rd Homestead, FL	3.0	2.5	1452	$2,600	$1.79	24d	1	0.29mi
2608 SE 11th St #2608 Homestead, FL	3.0	2.5	1827	$2,800	$1.53	24d	1	0.30mi
2601 SE 19th Ct Homestead, FL	2.0	2.0	1070	$2,300	$2.15	24d	1	0.30mi

Listing history 6 events

1. 2026-06-18
   days on market $5,000 Active 6 DOM
2. 2026-06-17
   days on market $5,000 Active 5 DOM
3. 2026-06-16
   days on market $5,000 Active 4 DOM
4. 2026-06-15
   days on market $5,000 Active 3 DOM
5. 2026-06-13
   remarks 298-char remark
6. 2026-06-13
   listed $5,000 Active 1 DOM

ⓘ 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 6/10 Major FEMA zone AH · 56% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 32 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: $32,010
• − Mortgage interest: −$20,653
• − Property taxes: −$5,531
• − Insurance: −$3,668
• − Repairs & maintenance: −$2,561
• − Management: −$2,561
• − Depreciation: −$10,726
• Taxable loss: −$13,690
• Est. tax savings @ 24.0%: +$3,285
• After-tax cash flow: $-3,828/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

-99.5% since first listed

9 events — show timeline

• 2026-06-12 Listed $5,000 FLKMLS
• 2025-11-05 Pending — MARMLS
• 2025-11-04 Listing Removed — MARMLS
• 2025-10-28 Price Changed $352,900 MARMLS
• 2025-10-16 Listed $359,900 MARMLS
• 2016-10-19 Sold (Public Records) $3,200,000 Public Records
• 2014-03-24 Sold (Public Records) $1,740,600 Public Records
• 2012-01-11 Sold (Public Records) $595,700 Public Records
• 2008-07-02 Sold (Public Records) $981,200 Public Records

Property tax history

+9.6%/yr

Latest (2025): $6,500 · +7.4% YoY. Source: county tax records.