1351 NE Miami Gardens Dr Unit 402E · Ojus, FL 33179

$150,000

1 bd · 2.0 ba · 861 sqft · Condo public records · 17 Days on market

Built 1969 $514/mo HOA · 16% 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 +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity.

Key facts

• $514 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Association-maintained pool
• Financial info: Lease considered; Pets not allowed
• HOA & community: Monthly association fee; Association fee includes insurance and laundry; Association amenities: Pool, Elevator(s)

Exterior

• Parking: One assigned parking space
• Security: Complex fenced; Security guard
• Utilities: Has cooling (central air); Has heating (central)
• Home design: Condominium/attached property; 18-story building; Entry level: 4
• Construction: Block construction; Resale property
• Exterior features: Balcony (open); Association pool; Lakefront; Has view

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Entry level: 4
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished; Walk-in closet(s)
• Laundry & utility: Laundry included in association amenities

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 8.4% in Ojus — 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 (#58 in FL, #1,031 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: 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.
• Zoned schools: Ojus Elementary School (math 56% / reading 59%, grade C+, #764 of 2,144 statewide, top 36%, 776 students, 63% FRL); John F. Kennedy Middle School (math 47% / reading 55%, grade C, #237 of 571 statewide, top 43%, 1,074 students, 67% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL) — zoned schools at 65% FRL track the district average.
• Market conditions: Rents flat; 576 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,295/mo this rent would consume 61% of the median local household income ($65k/yr) (locally 3123% 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 $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.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 15y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $73k; list at $150k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.20% ✓
• Cap rate: 14.81%
• Cash-on-cash: 30.41%
• DSCR: 2.35
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.22% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 1.83×
• Total profit: $34,876
• Equity at exit: $22,365

10-year hold

• IRR: 27.0%
• Equity multiple: 3.01×
• Total profit: $84,310
• Equity at exit: $12,969

Cash invested: $42,000 (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 33179

• Rents YoY: 0.2%
• Active inventory: 576
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $3,295 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$176 /mo · $2,107/yr
• Insurance: −$62
• HOA: −$514
• Vacancy / Maint / Mgmt: −$692
• Net cashflow: $1,064

Break-even live

Break-even rent $1,948

Max offer price $150,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,149	-5% $1,107	+0% $1,064	+5% $1,022	+10% $979
Rent	-10% $804	-5% $934	+0% $1,064	+5% $1,195	+10% $1,325
Rate	-1.0pp $1,140	-0.5pp $1,103	base $1,064	+0.5pp $1,026	+1.0pp $986

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $514 · $6,168/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-04
   days on market $150,000 Active 17 DOM
2. 2026-06-03
   pricedays on market $150,000 Active 16 DOM
3. 2026-06-02
   days on market $120,000 Active 15 DOM
4. 2026-06-01
   days on market $120,000 Active 14 DOM
5. 2026-05-31
   days on market $120,000 Active 13 DOM
6. 2026-05-18
   price $150,000
7. 2026-05-15
   listed $180,000 Active
8. 2026-04-01
   listed $1,800
9. 2026-03-24
   historical $1,800
10. 2026-01-14
    listed $1,800
11. 2025-04-01
    historical $1,800
12. 2025-02-12
    listed $1,800
13. 2025-01-11
    historical $1,800
14. 2024-12-12
    price $1,800
15. 2024-12-02
    listed $1,950
16. 2024-02-29
    historical
17. 2023-12-12
    price $175,000
18. 2023-11-27
    listed $182,000 Active
19. 2023-10-31
    historical
20. 2023-08-29
    price $182,000
21. 2023-08-17
    price $184,000
22. 2023-07-24
    listed $189,000 Active
23. 2023-01-12
    historical
24. 2022-11-05
    listed $159,000 Active
25. 2021-11-30
    status Pending
26. 2021-11-29
    historical
27. 2021-10-30
    price $129,900
28. 2021-08-29
    listed $149,000 Active
29. 2021-05-24
    historical
30. 2021-03-14
    price $149,000
31. 2021-03-03
    listed $135,000 Active
32. 2021-01-20
    soldstatus $73,000
33. 2021-01-14
    soldstatus $73,000
34. 2020-10-28
    listed $89,900
35. 2011-11-18
    soldstatus $30,087
36. 2011-09-01
    listed $27,000
37. 2001-04-26
    soldstatus $34,500
38. 1995-11-28
    soldstatus $27,500
39. 1995-01-24
    soldstatus $28,000
40. 1990-09-17
    soldstatus $27,000

ⓘ 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: $2,107 · $176/mo
• Projected year-2 tax: $2,107 · $176/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 X (unshaded) · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 24 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: $39,541
• − Mortgage interest: −$8,402
• − Property taxes: −$2,107
• − Insurance: −$750
• − Repairs & maintenance: −$3,163
• − Management: −$3,163
• − HOA: −$6,168
• − Depreciation: −$4,364
• Taxable income: $11,423
• Est. tax owed @ 24.0%: −$2,742
• After-tax cash flow: $10,031/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 — Ojus

• Score: 83/100
• State rank: #58
• US rank: #1031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ojus, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 51,591
• Household income: $65,211
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 3123.0

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 0.67)
• Race & ethnicity: Black 39% Hispanic / Latino 38% Two or more races 23% White 19% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 6% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 13% Scotch-Irish 2% Romanian 2%
• Foreign-born: 48% · Canada, Jamaica, Dominican Republic
• Languages at home: 42% English-only · Spanish 37% French/Haitian/Cajun 13% 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: ▼ -608.34%
• Current HPI: 328.1733
• Rent YoY: ▲ 0.22%
• 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

+455.6% since first listed

35 events — show timeline

• 2026-05-18 Price Changed $150,000 MARMLS
• 2026-05-15 Listed $180,000 MARMLS
• 2026-04-01 Listed for Rent $1,800 MARMLS
• 2026-03-24 Rental Removed $1,800 MARMLS
• 2026-01-14 Listed for Rent $1,800 MARMLS
• 2025-04-01 Rental Removed $1,800 MARMLS
• 2025-02-12 Listed for Rent $1,800 MARMLS
• 2025-01-11 Rental Removed $1,800 MARMLS
• 2024-12-12 Price Changed $1,800 MARMLS
• 2024-12-02 Listed for Rent $1,950 MARMLS
• 2024-02-29 Listing Removed — MARMLS
• 2023-12-12 Price Changed $175,000 MARMLS
• 2023-11-27 Listed $182,000 MARMLS
• 2023-10-31 Listing Removed — MARMLS
• 2023-08-29 Price Changed $182,000 MARMLS
• 2023-08-17 Price Changed $184,000 MARMLS
• 2023-07-24 Listed $189,000 MARMLS
• 2023-01-12 Listing Removed — MARMLS
• 2022-11-05 Listed $159,000 MARMLS
• 2021-11-30 Pending — MARMLS
• 2021-11-29 Listing Removed — MARMLS
• 2021-10-30 Price Changed $129,900 MARMLS
• 2021-08-29 Listed $149,000 MARMLS
• 2021-05-24 Listing Removed — MARMLS
• 2021-03-14 Price Changed $149,000 MARMLS
• 2021-03-03 Listed $135,000 MARMLS
• 2021-01-20 Sold (Public Records) $73,000 Public Records
• 2021-01-14 Sold (MLS) $73,000 Beaches MLS
• 2020-10-28 Listed $89,900 Beaches MLS
• 2011-11-18 Sold (MLS) $30,087 Beaches MLS
• 2011-09-01 Listed $27,000 Beaches MLS
• 2001-04-26 Sold (Public Records) $34,500 Public Records
• 1995-11-28 Sold (Public Records) $27,500 Public Records
• 1995-01-24 Sold (Public Records) $28,000 Public Records
• 1990-09-17 Sold (Public Records) $27,000 Public Records

Property tax history

+10.3%/yr

Latest (2025): $2,107 · -2.6% YoY. Source: county tax records.