1028 SW 2nd St APT 1MiamiFL33130
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowTight but positive: 1028 SW 2nd St APT 1, Miami, FL, 33130 in Miami at $240,000 earns $2,062/mo in rent and nets $172/mo after the $1,079/mo payment, a 10.31% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $66,308 over five years. Ziffy Mortgage underwrites this on a 1.91 DSCR without U.S. credit history. With $2,210/yr in principal paydown, total projected return reaches $103,854.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 5.8% |
| Monthly Cash Flow | $172 | $1,850 |
City averages based on Miami market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,062 |
| Total Monthly Debt Service | $1,795 |
| DSCR Ratio | 1.15x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1974
N/A lot
$N/A/sqft
$292 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33130, Miami, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,653 (100%) |
| Owner Occupied HU | 4,176 (19.3%) |
| Renter Occupied HU | 15,484 (71.5%) |
| Vacant Housing Units | 1,993 ( 9.2%) |
| Median Home Value | $526,147 |
| Average Home Value | $612,036 |
Housing Distribution
Address Breakdown
Residential
19,316
Single Family
1,927
Multi-Family
17,389
Businesses
1,387
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Condo
Built in 1974
N/A lot
$N/A/sqft
$292 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33130, Miami, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,653 (100%) |
| Owner Occupied HU | 4,176 (19.3%) |
| Renter Occupied HU | 15,484 (71.5%) |
| Vacant Housing Units | 1,993 ( 9.2%) |
| Median Home Value | $526,147 |
| Average Home Value | $612,036 |
Housing Distribution
Address Breakdown
Residential
19,316
Single Family
1,927
Multi-Family
17,389
Businesses
1,387
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jorge Cruz • RE/MAX 360 Real Estate
Mls Name: MIAMI
Mls Provider:
Mls ID: #A11703819
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.