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Slide 1: TM July 2009 | www.SmartZip.com HIALEAH, FL Overview Founded in 1925, Hialeah is located in Miami-Dade County in southeast Florida. Twenty minutes northwest of Miami and twenty-five minutes northwest of Miami Beach, Hialeah is the fifth largest city in Florida and sits on 20 square miles of land. Miami-Hialeah was ranked 22nd on Inc. Magazine’s 2004 list of the “Top 25 Cities for Doing Business in America” in the “large cities” category. The Hialeah Fire Department is nationally ranked as Class I; making the top 25 local fire departments in the United States. Hialeah schools also rate very highly in the already region (see heat map). In addition to excellent community services, Hialeah provides easy access to all of the arts and entertainment offerings of nearby Miami and the South Florida metropolitan area. Key Investment Metrics Average SmartZip Score™ Average Market Value: 10-Year Proj. Appreciation: Average Monthly Rent: Average Cap Rate: School Rating (10 is best): 73 Growth 65 Income $158,929 $120 per Sq. Ft. 33% $1,400 5.1% 8 Local Expert Insights • In Hialeah, you can buy a 1,400 SF home on a small 3,500 SF lot for $200k and in Miami Lakes, you can get a 2,000 SF home on a 5,500 SF lot for $285k • The unincorporated area has mostly newer homes in planned communities, many that used to sell for $600k can now be purchased for $300-325k • It still takes 30-60 days on average to get homes into escrow due to the tight credit conditions • New home construction activity has stopped and most of the inventory is REO or short sales • Opportunity to buy a $50-60k two or three-bedroom condo and rent it for nearly $1,200/month • Inventory levels have dropped, but expect a glut of condos to enter the market in the next 6 months as failed condo conversions result in more defaults On the Map
Slide 2: Hialeah, FL Heat Maps Safety Ratings School Ratings Investment Market Comparison About the Top 10 Markets The SmartZip Top 10 Markets™ is a featured list of the top rated markets hand-picked by our panel of investment analysts. Candidates for the list are identified using our proprietary SmartZip Score™ ratings averaged across the Growth and Income investment strategies. Learn more at www.SmartZip.com www.SmartZip.com | ©2008-2009 SmartZip, Inc. All rights reserved.