WorkspaceDiscoverCondo · Homestead · Miami-Dade County
1031 Adams Ave #1031C, Homestead
Remodeled 2-bedroom / 1.5-bath condo. A current broker occupancy field still says tenant, but the revised sale remarks no longer supply rent. Current lease income is awaiting broker information.
Recorded status: Public listing page: for sale; confirm current availability. Checked: .
Dated listing record · recheck availability and legal unit count.
- Est. gross yield at asking
- 14.9%Estimate · rent potential ÷ asking price
- Asking price
- $195,000
Rent potential · Estimate: $2,414/moBroad HUD benchmark, not property-specific market rent or current collections.
- Estimated annual NOI
- $12,765Before debt and capital reserves
- Estimated cap rate
- 6.5%Modeled NOI ÷ purchase price
- Est. cash flow / mo
- $991All cash · after reserves
Assumptions behind these estimates
Starting values for this brief. Change any of them in the interactive brief; your changes stay in your browser. Default values
| Input | Value | Basis |
|---|---|---|
| Total scheduled rent per month | $2,414 | HUD-based planning rent |
| Vacancy (%) | 5% | Matches planning allowance |
| Management (% of collected rent) | 8% | Matches planning allowance |
| Maintenance (% of total rent) | 5% | Matches planning allowance |
| Buyer annual tax assumption (% of price) | 2.09% | Matches planning allowance |
| Annual insurance | $1,800 | Matches planning allowance |
| Annual owner-paid utilities | $600 | Matches planning allowance |
| Monthly HOA or condo fees | $335 | Matches source observation |
| Other annual operating expenses | $600 | Matches planning allowance |
| Capital reserves (% of total rent) | 3% | Matches planning allowance |
| Down payment (%) | 100% | Matches planning allowance |
| Mortgage rate (%) | 7% | Matches planning allowance |
Unit mix & possession
One 2-bedroom / 1.5-bath condo; current tenant reported.
- Reported units
- 1
- Reported listing area
- 863 sq ft
- Asking / reported sq ft
- $226
- HOA / month
- $335
- Historical property tax / year
- $2,960
- HOA + historical tax / month
- $582
$582/month goes to reported HOA and historical tax alone. Rental income would have to cover this plus the remaining ownership costs.
HOA + historical tax only. Excludes insurance, assessments, upkeep and financing; buyer taxes can change.
Broker info & key considerations To confirm
- September 29 remarks advertised $1,850 monthly ($22,200 annualized). October 27 sale remarks omit that amount; it is retained as historical evidence only and no longer seeds current income. A separate rental advertisement does not establish vacancy, a new lease or collections.
- Obtain lease expiry and confirm whether the separate rental advertisement concerns future availability.
- The $335 monthly association fee and 2025 taxes are listing figures; assessments, reserves and new-owner rental eligibility remain unverified.
Source evidence and diligence
Financial figures observed Sep 29, 2026. Reported income is not audited collections. Editable estimates, financing and saved assumptions are separate from these source facts.
Gross rental yield basis
Displayed whole-property scheduled rent × 12 divided by source asking price, not your saved offer. HUD-based planning rent: FY2027 HUD FMR for Miami-Miami Beach-Kendall, FL HUD Metro FMR Area (METRO33100MM5000), effective October 1, 2026. Documented bedrooms per offered unit: 2. Published gross housing benchmark $2,564/month includes major utilities, excluding phone, cable/satellite TV and internet. Subtract $150/month ($150/unit) for assumed tenant-paid electricity; remaining owner-paid services use the separate displayed utility budget. This electricity amount is editable budgeting policy, not a verified allowance or conservative bound. Replace scheduled rent and utility inputs with leases, payer terms and local bills. The adjusted $2,414/month is a full-occupancy scenario, not a rental appraisal, lease offer, subsidy payment standard or eligibility decision. Full-occupancy potential before vacancy, operating costs, financing and income tax; not current collections, cap rate or cash return.
Sources
- 27 Oct income-claim review · Coldwell Banker / Keller Williams Realty Premier Properties · A12085023Source observation · Oct 27, 2026
- 27 Oct occupancy field review · Space Coast Real Properties · A12085023Source observation · Oct 27, 2026
- Public listing / MLS A12085023 · source reviewed 29 Sep 2026Source observation · Sep 29, 2026
Questions to resolve
- Obtain executed leases, collection history and tenant estoppels before relying on income or possession.
- Verify permitted use, association obligations, assessments, buyer taxes and insurance costs.
Similar properties
- 13700 NE 6th Ave #113, North Miami: condo, asking $205,000
- 2931 SE 13th Ave #205-47, Homestead: condo, asking $180,000
- 1800 NE 114th St #1508, Miami: condo, asking $144,000
Florida property research
Research scope includes Miami-Dade, Broward, the Florida Keys and Flagler County. Published observations vary by market.
[1] Gross yield excludes costs and financing. Source figures are unverified; estimates use editable assumptions. Check current listing availability. County records are separate from listings. Saves stay in this browser; export a backup before clearing site data. Sources & methods