12890 NE 8th Ave #101 · North Miami, FL 33161

$139,000

1 bd · 1.0 ba · 714 sqft · Condo public records · 94 Days on market

Built 1971 $988/mo HOA · 29% of rent

---

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 +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious first floor unit, fully tiled, with plenty of closet space. Complex fully gated with secured gate exterior entrance with a second gated entrance to unit

Key facts

• First floor unit
• Fully tiled
• Fully gated

Tags

• FIRST FLOOR UNIT
• FULLY TILED
• PLENTY OF CLOSET SPACE
• FULLY GATED
• SECURED GATE EXTERIOR ENTRANCE
• SECOND GATED ENTRANCE

Property features AI

Finance

• Other: $2,189 annual tax (tax year 2025)
• Financial info: Pets allowed with restrictions or conditions
• HOA & community: HOA fee of $988 per month

Exterior

• Parking: Carport for 1 vehicle; One covered parking space
• Home design: 3 stories; Entry on level 1
• Construction: Block construction; Effective year built noted
• Exterior features: Attached property

Interior

• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Interior features: Ceramic tile flooring; Additional unspecified interior features

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $139k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $139k).
• Recommended offer: $126k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 4.1% in North Miami — 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, employment D.
• 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 $3,401/mo this rent would consume 70% 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 $961 of loan paydown is wiped out by about $4k 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 94 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $16k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $84k; list at $139k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 29% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. 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: 2.45% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.49%
• DSCR: 2.00
• GRM: 3.4

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: -9.2%
• Equity multiple: 0.68×
• Total profit: $-12,280
• Equity at exit: $20,725

10-year hold

• IRR: -13.2%
• Equity multiple: 0.47×
• Total profit: $-20,616
• Equity at exit: $12,018

Cash invested: $38,920 (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: 3.4×

Monthly cashflow live

• Estimated rent: $3,401 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$182 /mo · $2,190/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$988
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $303

Break-even live

Break-even rent $3,018

Max offer price $139,000

Occupancy floor 86%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $988 · $11,856/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-18
   days on market $139,000 Active 94 DOM
2. 2026-06-17
   days on market $139,000 Active 93 DOM
3. 2026-06-16
   days on market $139,000 Active 92 DOM
4. 2026-06-15
   days on market $139,000 Active 91 DOM
5. 2026-06-13
   days on market $139,000 Active 89 DOM
6. 2026-06-09
   days on market $139,000 Active 85 DOM
7. 2026-06-08
   days on market $139,000 Active 84 DOM
8. 2026-06-07
   days on market $139,000 Active 83 DOM
9. 2026-06-04
   days on market $139,000 Active 80 DOM
10. 2026-06-03
    days on market $139,000 Active 79 DOM
11. 2026-06-02
    days on market $139,000 Active 78 DOM
12. 2026-06-01
    days on market $139,000 Active 77 DOM
13. 2026-05-31
    days on market $139,000 Active 76 DOM
14. 2026-05-07
    price $139,000
15. 2026-03-25
    price $145,000
16. 2026-03-16
    listed $155,000 Active
17. 2025-08-31
    historical
18. 2025-04-07
    listed $165,000 Active
19. 2020-09-16
    soldstatus $84,500
20. 2020-09-02
    soldstatus $84,500 Closed 161-char remark

    Show marketing remark (161 chars)

    Spacious first floor unit, fully tiled, with plenty of closet space. Complex fully gated with secured gate exterior entrance with a second gated entrance to unit

21. 2020-08-04
    status Pending 161-char remark

    Show marketing remark (161 chars)

    Spacious first floor unit, fully tiled, with plenty of closet space. Complex fully gated with secured gate exterior entrance with a second gated entrance to unit

22. 2020-07-13
    price $87,000 161-char remark

    Show marketing remark (161 chars)

    Spacious first floor unit, fully tiled, with plenty of closet space. Complex fully gated with secured gate exterior entrance with a second gated entrance to unit

23. 2020-06-19
    listed $90,000 Active 161-char remark

    Show marketing remark (161 chars)

    Spacious first floor unit, fully tiled, with plenty of closet space. Complex fully gated with secured gate exterior entrance with a second gated entrance to unit

24. 2018-10-16
    soldstatus $83,000
25. 2018-10-12
    soldstatus $83,000 Sold
26. 2018-10-02
    status Pending
27. 2018-09-05
    listed $84,500 Active
28. 2017-03-10
    soldstatus $67,000
29. 2017-03-06
    soldstatus $67,000 Sold
30. 2017-02-08
    status Pending
31. 2016-09-17
    listed $90,000 Active
32. 2009-06-03
    soldstatus $40,000

ⓘ 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: $2,190 · $182/mo
• Projected year-2 tax: $2,190 · $182/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 · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 27 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: $40,810
• − Mortgage interest: −$7,786
• − Property taxes: −$2,190
• − Insurance: −$5,814
• − Repairs & maintenance: −$3,265
• − Management: −$3,265
• − HOA: −$11,856
• − Depreciation: −$4,044
• Taxable income: $2,591
• Est. tax owed @ 24.0%: −$622
• After-tax cash flow: $3,012/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 — North Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• 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

+247.5% since first listed

19 events — show timeline

• 2026-05-07 Price Changed $139,000 MARMLS
• 2026-03-25 Price Changed $145,000 MARMLS
• 2026-03-16 Listed $155,000 MARMLS
• 2025-08-31 Listing Removed — MARMLS
• 2025-04-07 Listed $165,000 MARMLS
• 2020-09-16 Sold (Public Records) $84,500 Public Records
• 2020-09-02 Sold (MLS) $84,500 MARMLS
• 2020-08-04 Pending — MARMLS
• 2020-07-13 Price Changed $87,000 MARMLS
• 2020-06-19 Listed $90,000 MARMLS
• 2018-10-16 Sold (Public Records) $83,000 Public Records
• 2018-10-12 Sold (MLS) $83,000 MARMLS
• 2018-10-02 Pending — MARMLS
• 2018-09-05 Listed $84,500 MARMLS
• 2017-03-10 Sold (Public Records) $67,000 Public Records
• 2017-03-06 Sold (MLS) $67,000 MARMLS
• 2017-02-08 Pending — MARMLS
• 2016-09-17 Listed $90,000 MARMLS
• 2009-06-03 Sold (Public Records) $40,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $2,190 · +2.2% YoY. Source: county tax records.