DSCR Loans in Hialeah: Rent Math, Small Multi-Unit Buildings and Legal Units

Short answer

Yes, investors may qualify for a DSCR loan on a Hialeah rental using the property's rent instead of tax returns. With the Q3 2026 median house at $570,000, the 2026 Hialeah millage of 18.6134 works out to about $884 a month in property taxes, against a HUD benchmark rent of $3,127 for a 3-bedroom (example only). Lenders count rent only from legal, permitted units, so an unpermitted efficiency usually adds nothing to the ratio. DSCR loans are business-purpose loans for non-owner-occupied property, subject to credit approval and property eligibility.

DSCR basics and the Hialeah market in Q3 2026

DSCR is monthly rent divided by monthly PITIA (principal, interest, taxes, insurance and association dues). Many lenders look for 1.0 or higher. The full list of requirements, from down payment to reserves and prepayment terms, is in our Florida DSCR requirements guide, and the program overview is on our DSCR loans page.

A DSCR loan is a business-purpose loan. Federal Regulation Z treats credit to buy or improve a rental the owner does not occupy as business credit, whatever the number of units, unless the owner expects to live there more than 14 days in the coming year. If you plan to live in one side of a duplex, this is the wrong product; see our Hialeah mortgage broker page instead.

MIAMI REALTORS data for the City of Hialeah, third quarter of 2026 (released October 16, 2026):

• Single-family homes: 131 sales at a median of $570,000 (down 4.8% from a year earlier), 34 days to contract, 5.3 months of supply. Only 17 sales were cash.
• Townhouses and condos: 121 sales at a median of $269,900 (up 1.8%), 45 days to contract, 5.9 months of supply. 50 sales were cash.

Two things stand out for an investor. House prices dipped while rents in the HUD schedule stayed high, which helps the ratio. And most Hialeah house buyers financed, so sellers are used to financed offers and appraisal timelines.

Efficiencies and back units: what Hialeah's code allows

Many Hialeah houses are listed with an efficiency, a converted garage or a back unit. For a DSCR loan, the question is not whether someone lives there today. It is whether the unit is legal. Appraisers and lenders generally give rent credit only to units the city has permitted.

Here is what we could confirm from city and state documents, as of November 2026:

• Extended family living quarters (Hialeah Code Sec. 98-496(b)): a second living quarters may be allowed only in the R-1 one-family district, only if all habitable rooms are accessible to each other, and only for listed immediate family members of the owner. The owner must live on the property as a homestead. That rules it out for a non-owner-occupied DSCR rental.
• Accessory buildings (Sec. 98-1666): no garage may be used for living quarters before the main building exists, and accessory structures are capped at 35% of the main building and 500 square feet. Utility sheds may not be used as living quarters at all (Sec. 98-1670(b)).
• Recreational vehicles: in January 2024 Hialeah banned using RVs as housing in residential areas and said it would enforce against both tenants and landlords.
• County efficiency law: Miami-Dade's 2022 ordinance that lets owners legalize efficiencies (one unit of 400 to 800 square feet on lots of at least 7,500 square feet) applies only to unincorporated Miami-Dade. Hialeah is a city, so it does not apply there.
• State law: Florida Statutes 163.31771 lets a city choose to allow accessory dwelling units in single-family zones; it does not require it, and a permit under it needs an affidavit that the unit will be rented at an affordable rate.

Bottom line: if the seller cannot show permits for the back unit, underwrite the deal on the main house's rent alone. Confirm zoning for the exact folio with Hialeah Planning and Zoning before you sign.

Duplexes to fourplexes, or five units and up

Hialeah's older neighborhoods mix houses, duplexes and small apartment buildings. The unit count decides which loan you need.

• 1 to 4 units: a residential DSCR loan. The appraisal includes a market rent schedule for each unit, and many lenders use the lower of the lease or market rent. Every unit counted needs to be legal.
• 5 or more units: a multifamily loan, underwritten on the building's net operating income (rent minus vacancy and expenses), with a rent roll, operating statements and often a commercial appraisal. See our Florida commercial loan guide for how that file works.

Taxes change with the unit count too. Florida's 10% annual cap on assessment increases for non-homestead residential property under F.S. 193.1554 covers buildings with nine or fewer units. Larger apartment buildings fall under F.S. 193.1555, which also caps non-school increases at 10% but resets to full value on a change of ownership or control.

Rentals in Hialeah can also need a city Business Tax Receipt. The city's application lists a "Lessor" business type, asks for the number of rooms or units, and asks for a recorded deed or settlement statement, a lease, a solid waste contract and liability insurance naming the City of Hialeah. Ask the Business Tax Department (305-883-5890) what applies to your building, and budget for it before closing.

Hialeah taxes and closing costs on a rental

The Miami-Dade Property Appraiser's 2026 adopted millage for Hialeah totals 18.6134 mills, of which the city's share is 6.3018. One mill is $1 per $1,000 of taxable value. A rental gets no homestead exemption, so the bill is based on close to full assessed value, and non-ad valorem fees (such as solid waste) come on top.

Closing taxes in Florida, as of November 2026:

• Deed stamps: in Miami-Dade, $0.60 per $100 for a single-family residence. For anything else, including a duplex or small apartment building, add the $0.45 surtax, for $1.05 per $100. Condo units count as single-family residences for the surtax exemption.
• Note stamps: $0.35 per $100 of the loan amount.
• Intangible tax: 2 mills (0.2%) of the loan amount, under F.S. 199.133.

Example only: on an $800,000 duplex, deed stamps at $1.05 per $100 come to $8,400. A $600,000 loan on it would carry $2,100 in note stamps and $1,200 in intangible tax. Who pays the deed stamps is set by your contract.

Flood zones vary block by block across Hialeah. Pull the FEMA flood map for the exact address before you write the offer, because required flood insurance goes straight into PITIA.

Example only: DSCR math with Hialeah numbers

HUD's FY2026 Fair Market Rents for the Miami-Miami Beach-Kendall area (which covers Miami-Dade) are $1,828 for a studio, $1,995 for 1 bedroom, $2,436 for 2, $3,127 for 3 and $3,613 for 4. These are government benchmarks, not appraisal rents, but they are a sound first check.

• Median house, $570,000: taxes at 18.6134 mills are about $10,610 a year, or $884 a month. Against $3,127 in rent, that leaves about $2,243 a month for principal, interest and insurance if you aim for a 1.0 ratio.
• Median condo, $269,900: taxes are about $5,024 a year, or $419 a month. Against $2,436 for a 2-bedroom, about $2,017 remains for principal, interest, insurance and HOA dues. Condo dues in older Hialeah buildings can be high, so get the budget early.

Rates vary daily, so we do not plug in a rate here. Call 305-425-1990 for today's pricing and we will run the full ratio on your address. These examples assume taxable value close to the price; your actual bill depends on the appraiser's assessment.

How QMS works a Hialeah DSCR file

Quality Mortgage Solutions is an independent mortgage broker in Miami, FL, founded in 2018 (NMLS #1781090), led by President Michael Fernandez (NMLS #1491775). We compare DSCR and multifamily programs across 100+ lenders, in English or Spanish.

• Before the offer: send the address, the unit count and any permits. We check what rent the lender will likely count and whether the deal is a 1-4 unit DSCR loan or a 5+ unit commercial loan.
• Entity and documents: most investors close in an LLC. Expect articles, operating agreement, EIN, bank statements for reserves and the leases you have.
• Appraisal: we order the rent schedule with the appraisal so the ratio is known early.

Already own rentals elsewhere in the county? Compare with our Miami DSCR investor guide. Call 305-425-1990. All loans are subject to credit approval and property eligibility.