How to BRRRR in Miami, FL
BRRRR in Miami is a 6.22% gross yield play — $3,012/mo rent on a $581k median. Whether that cash-flows depends on your debt cost.
DATA · Zillow Research (via scrape.do) · AS OF APRIL 2026
Miami is one of the better BRRRR markets in the country right now — strong yield, stable to appreciating prices, refis pencil.
- → Gross yield 6.22% — above national baseline
- → Rent $3,012/mo vs. national $1,930 — rent-strong
- → DSCR expectation at 75% LTV / 7.5%: 1.10-1.20 tight
- → Appreciation risk to refi: flat — neutral
Start with the gross math. Miami's typical home value is $580,996; ZORI (Zillow's rent index) sits at $3,012/mo. That's 6.22% gross annual yield. That's well above the national 4-5% baseline — meaningful cushion for a BRRRR to pencil even at today's debt cost.
Run the DSCR sanity check. Assume 75% LTV refi at 7.5% interest, 30-year, plus taxes + insurance + 8% PM + 8% vacancy/capex reserve. On these inputs you'll likely clear DSCR 1.10-1.20 in Miami — tight but bankable. Don't fall in love with marginal deals; reject anything that doesn't pencil at 1.15 minimum.
Rent demand color: Miami rents ($3,012) sit 56% above the national median ($1,930). Above-average rent + below-average prices is the BRRRR sweet spot — that's why the gross yield is healthy.
Refi appraisal risk: Miami home values are flat YoY — refi appraisals should support your renovated comp on a properly scoped rehab. No softening tailwind to worry about, no appreciation tailwind to lean on.
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