650 NE 149th St Unit 407A · Golden Glades, FL 33161

$155,000

2 bd · 1.0 ba · 860 sqft · Condo public records · 31 Days on market

Built 1982 $975/mo HOA · 26% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained 2-bedroom, 1-bathroom condo located on the 4th floor of the highly sought-after Victory Gardens Community. This bright and inviting residence features an open-concept floor plan filled with abundant natural light throughout, creating a warm and airy atmosphere. The oversized bedrooms offer exceptional comfort and flexibility, while the spacious living areas make everyday living and entertaining effortless. Residents of Victory Gardens enjoy the peace of mind of a gated community, complete with gated parking and a beautifully maintained courtyard. Ideally situated, this condo offers convenient access to shopping, dining, major highways, and everything the area

Key facts

• Gated community
• Gated parking
• $975 HOA

Tags

• GATED COMMUNITY
• GATED PARKING
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING

Property features AI

Finance

• Other: Association pool
• Financial info: Pets allowed with restrictions/possible restrictions (conditional)
• HOA & community: Monthly association fee ($975); Association fee includes common areas, electricity, laundry, grounds maintenance, structure maintenance, parking, pool(s), and trash; Association amenities: elevator(s), laundry, pool

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Complex fenced; Secured elevator; Secured lobby; Smoke detectors
• Utilities: Cable available; Electric service
• Home design: Condominium unit in a multi-story building; 4th floor entry level; Faces north
• Construction: Block construction; Exterior lighting
• Exterior features: Balcony; Open balcony

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Main level primary bedroom
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds; First floor entry; Living/dining room; Main level primary; Main living area entry level; Tub/shower; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 3.5% in Golden Glades — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#281 in FL, #4,513 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B+, health & safety B+; Watch: employment D, amenities F.
• Miami-Dade (suburban): math 45% / reading 54% proficiency, ranked #40 of 73 in FL (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.7%/yr); 338 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,698/mo this rent would consume 76% of the median local household income ($58k/yr) (locally 3226% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; list at $155k implies a 152% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 26% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.39% ✓
• Cap rate: 13.18%
• Cash-on-cash: 24.60%
• DSCR: 2.09
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.87×
• Total profit: $-5,540
• Equity at exit: $23,111

10-year hold

• IRR: -2.3%
• Equity multiple: 0.88×
• Total profit: $-5,025
• Equity at exit: $13,402

Cash invested: $43,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33161

• Rents YoY: -0.7%
• Active inventory: 338
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $3,698 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$179 /mo · $2,154/yr
• Insurance: −$65
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$975
• Vacancy / Maint / Mgmt: −$777
• Net cashflow: $463

Break-even live

Break-even rent $3,112

Max offer price $155,000

Occupancy floor 82%

Sensitivity live

Price	-10% $551	-5% $507	+0% $463	+5% $419	+10% $376
Rent	-10% $171	-5% $317	+0% $463	+5% $609	+10% $755
Rate	-1.0pp $541	-0.5pp $503	base $463	+0.5pp $423	+1.0pp $382

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $975 · $11,700/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $155,000 Active 31 DOM
2. 2026-06-17
   days on market $155,000 Active 30 DOM
3. 2026-06-16
   days on market $155,000 Active 29 DOM
4. 2026-06-15
   days on market $155,000 Active 28 DOM
5. 2026-06-13
   days on market $155,000 Active 26 DOM
6. 2026-06-09
   days on market $155,000 Active 22 DOM
7. 2026-06-08
   days on market $155,000 Active 21 DOM
8. 2026-06-07
   days on market $155,000 Active 20 DOM
9. 2026-06-04
   days on market $155,000 Active 17 DOM
10. 2026-06-03
    days on market $155,000 Active 16 DOM
11. 2026-06-02
    days on market $155,000 Active 15 DOM
12. 2026-06-01
    days on market $155,000 Active 14 DOM
13. 2026-05-31
    days on market $155,000 Active 13 DOM
14. 2026-05-18
    listed $155,000 Active
15. 2025-11-22
    historical
16. 2025-10-23
    price $130,000
17. 2025-09-29
    price $140,000
18. 2025-08-14
    price $165,000
19. 2025-05-22
    listed $175,000 Active
20. 1984-03-01
    soldstatus $61,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $2,154 · $179/mo
• Projected year-2 tax: $2,154 · $179/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,381
• − Mortgage interest: −$8,682
• − Property taxes: −$2,154
• − Insurance: −$5,894
• − Repairs & maintenance: −$3,550
• − Management: −$3,550
• − HOA: −$11,700
• − Depreciation: −$4,509
• Taxable income: $4,341
• Est. tax owed @ 24.0%: −$1,042
• After-tax cash flow: $4,518/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Miami-Dade
• NCES district ID: 1200390
• Math proficiency: 45% ▼ -16.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $43,928
• Composite: 41.76/100
• National rank: #3397
• State rank: #40 of 73 in FL

Livability — Golden Glades

• Score: 74/100
• State rank: #281
• US rank: #4513

Category grades

Amenities F Commute A+ Cost of living B Crime B Employment D Housing B+ Health & safety B+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Golden Glades, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

Population outlook (Miami-Dade County) Hauer SSP2

• Today (2025): 3,126,439 people
• By 2030: 3,325,765 · +6.4%
• By 2040: 3,697,561 · +18.3%
• By 2050: 4,012,134 · +28.3%
• By 2075: 4,605,612 · +47.3%
• By 2100: 4,866,598 · +55.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% Other Indo-European 2%

Political lean MEDSL · Miami-Dade

• 2024 margin: R (+11.4) · D 43.9% · R 55.4%
• 2008→2024 swing: -27.6pp toward R · 2008: 16.1pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: D+7.3 2016: D+29.6 2012: D+23.7 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+152.0% since first listed

7 events — show timeline

• 2026-05-18 Listed $155,000 MARMLS
• 2025-11-22 Listing Removed — MARMLS
• 2025-10-23 Price Changed $130,000 MARMLS
• 2025-09-29 Price Changed $140,000 MARMLS
• 2025-08-14 Price Changed $165,000 MARMLS
• 2025-05-22 Listed $175,000 MARMLS
• 1984-03-01 Sold (Public Records) $61,500 Public Records

Property tax history

+7.8%/yr

Latest (2025): $2,154 · +1.7% YoY. Source: county tax records.