133 NE 2nd Ave #1512 · Miami, FL 33132

$469,000

2 bd · 2.0 ba · 1,036 sqft · Condo public records · 22 Days on market

Built 2007 $965/mo HOA · 20% of rent

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Why this score? — see what drove the D- 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 +7.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Appreciation +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0

Listing remarks MLS

AMAZING LOCATION IN THE HEART OF DOWNTOWN MIAMI, SPACIOUS 2/2 WITH BEAUTIFUL VIEWS FORM THE 15TH FLOOR. CONCRETE FLOORS THROUGHOUT, OPEN KITCHEN / DINING AREA WITH STAINLESS STEEL APPLIANCES, PLENTY OF CABINETS, GRANITE COUNTER TOPS, LIVING ROOM WITH PLENTY OF NATURAL LIGHT, 10FT CEILINGS, STACK WASHER & DRYER IN UNIT, FULL BATHROOMS WITH MARBLE COUNTER TOPS, SHOWER AND TUB COMBINATION. AMAZING AMENITIES INCLUDING ROOF TOP POOL CURRENTLY UNDER CONSTRUCTION TO BE RE-OPENED THIS SUMMER, LOWER GROUND LAP POOL, FITNESS CENTER WITH SPECTACULAR SKYLINE VIEWS, SUANA, HOT TUB, CLUB ROOM WITH BILLIARDS, METRO MOVER ENTRANCE RIGHT OUTSIDE CONDO ENTRANCE, STEPS FROM BAYFRONT PARK, MIAMI DADE COMMUNITY COLLEGE, FTX ARENA, FORST MUSEUM, MINUTES FROM MIAMI BEACH & MUCH MORE. PLEASE READ BROKERS REMARKS!

Key facts

• Pet-friendly
• Rooftop pool
• Private balcony

Tags

• PRIVATE BALCONY
• BREATHTAKING CITY VIEWS
• ROOFTOP POOL
• PANORAMIC SKYLINE VIEWS
• 24-HOUR CONCIERGE
• PET-FRIENDLY

Property features AI

Finance

• Other: Association pool available; Has view
• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee of $965; Association amenities include pool, fitness center, billiard room; Association covers cable TV, internet, and water

Exterior

• Parking: Detached garage (1 space); Detached carport (1 space); Deeded parking; Covered parking (2 spaces total)
• Security: Doorman; Secured elevator; Key card entry
• Utilities: Cable available; Water included in association; Internet included in association
• Home design: Attached property; Entry on level 15; High-rise building (multiple stories)
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Concrete; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnishing negotiable; Concrete and laminate flooring
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $469k.

Deal economics

• At list price, monthly cash flow is $-505 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $380k (19.0% below list).
• Meets the 1% rule at list price ($5k rent vs $469k).
• Recommended offer: $380k (19.0% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 1.9% in 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 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, cost of living 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 flat; 869 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,708/mo this rent would consume 52% of the median local household income ($109k/yr) (locally 2260% 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 (-2.5%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 22 days — a 2% lower offer ($462k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 10y ago 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.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $379,801 (19.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.00% ✓
• Cap rate: 5.00%
• Cash-on-cash: -4.61%
• DSCR: 0.79
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.52% appreciation · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -23.5%
• Equity multiple: 0.17×
• Total profit: $-108,589
• Equity at exit: $79,890

10-year hold

• IRR: -25.0%
• Equity multiple: -0.27×
• Total profit: $-166,157
• Equity at exit: $57,868

Cash invested: $131,320 (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 33132

• Home prices YoY: -0.8%
• Rents YoY: 0.7%
• Active inventory: 869
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $4,708 medium
• Mortgage (P&I): −$2,459
• Tax from tax record: −$604 /mo · $7,250/yr
• Insurance: −$195
• HOA: −$965
• Vacancy / Maint / Mgmt: −$989
• Net cashflow: $-505

Break-even live

Break-even rent $5,347

Max offer price $379,801

Occupancy floor —

Sensitivity live

Price	-10% $-239	-5% $-372	+0% $-505	+5% $-638	+10% $-770
Rent	-10% $-877	-5% $-691	+0% $-505	+5% $-319	+10% $-133
Rate	-1.0pp $-269	-0.5pp $-386	base $-505	+0.5pp $-626	+1.0pp $-750

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: $117,250
• Closing costs: $14,070
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $965 · $11,580/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 45 events

1. 2026-06-18
   days on market $469,000 Active 22 DOM
2. 2026-06-17
   days on market $469,000 Active 21 DOM
3. 2026-06-16
   days on market $469,000 Active 20 DOM
4. 2026-06-15
   days on market $469,000 Active 19 DOM
5. 2026-06-13
   days on market $469,000 Active 17 DOM
6. 2026-06-09
   days on market $469,000 Active 13 DOM
7. 2026-06-08
   days on market $469,000 Active 12 DOM
8. 2026-06-07
   days on market $469,000 Active 11 DOM
9. 2026-06-04
   days on market $469,000 Active 8 DOM
10. 2026-06-03
    days on market $469,000 Active 7 DOM
11. 2026-06-02
    days on market $469,000 Active 6 DOM
12. 2026-06-01
    days on market $469,000 Active 5 DOM
13. 2026-05-31
    days on market $469,000 Active 4 DOM
14. 2026-05-27
    listed $469,000 Active
15. 2026-05-17
    historical
16. 2025-12-17
    listed $470,000 Active
17. 2025-08-12
    historical $3,400
18. 2025-07-25
    price $3,400
19. 2025-07-15
    listed $3,850
20. 2025-04-27
    historical $3,900
21. 2025-04-22
    price $3,900
22. 2025-03-26
    listed $3,800
23. 2022-07-22
    soldstatus $460,000
24. 2022-07-15
    soldstatus $460,000 Closed 812-char remark

    Show marketing remark (812 chars)

    AMAZING LOCATION IN THE HEART OF DOWNTOWN MIAMI, SPACIOUS 2/2 WITH BEAUTIFUL VIEWS FORM THE 15TH FLOOR. CONCRETE FLOORS THROUGHOUT, OPEN KITCHEN / DINING AREA WITH STAINLESS STEEL APPLIANCES, PLENTY OF CABINETS, GRANITE COUNTER TOPS, LIVING ROOM WITH PLENTY OF NATURAL LIGHT, 10FT CEILINGS, STACK WASHER & DRYER IN UNIT, FULL BATHROOMS WITH MARBLE COUNTER TOPS, SHOWER AND TUB COMBINATION. AMAZING AMENITIES INCLUDING ROOF TOP POOL CURRENTLY UNDER CONSTRUCTION TO BE RE-OPENED THIS SUMMER, LOWER GROUND LAP POOL, FITNESS CENTER WITH SPECTACULAR SKYLINE VIEWS, SUANA, HOT TUB, CLUB ROOM WITH BILLIARDS, METRO MOVER ENTRANCE RIGHT OUTSIDE CONDO ENTRANCE, STEPS FROM BAYFRONT PARK, MIAMI DADE COMMUNITY COLLEGE, FTX ARENA, FORST MUSEUM, MINUTES FROM MIAMI BEACH & MUCH MORE. PLEASE READ BROKERS REMARKS!

25. 2022-05-31
    historical Active Under Contract 812-char remark

    Show marketing remark (812 chars)

    AMAZING LOCATION IN THE HEART OF DOWNTOWN MIAMI, SPACIOUS 2/2 WITH BEAUTIFUL VIEWS FORM THE 15TH FLOOR. CONCRETE FLOORS THROUGHOUT, OPEN KITCHEN / DINING AREA WITH STAINLESS STEEL APPLIANCES, PLENTY OF CABINETS, GRANITE COUNTER TOPS, LIVING ROOM WITH PLENTY OF NATURAL LIGHT, 10FT CEILINGS, STACK WASHER & DRYER IN UNIT, FULL BATHROOMS WITH MARBLE COUNTER TOPS, SHOWER AND TUB COMBINATION. AMAZING AMENITIES INCLUDING ROOF TOP POOL CURRENTLY UNDER CONSTRUCTION TO BE RE-OPENED THIS SUMMER, LOWER GROUND LAP POOL, FITNESS CENTER WITH SPECTACULAR SKYLINE VIEWS, SUANA, HOT TUB, CLUB ROOM WITH BILLIARDS, METRO MOVER ENTRANCE RIGHT OUTSIDE CONDO ENTRANCE, STEPS FROM BAYFRONT PARK, MIAMI DADE COMMUNITY COLLEGE, FTX ARENA, FORST MUSEUM, MINUTES FROM MIAMI BEACH & MUCH MORE. PLEASE READ BROKERS REMARKS!

26. 2022-05-21
    listed $445,000 Active 812-char remark

    Show marketing remark (812 chars)

    AMAZING LOCATION IN THE HEART OF DOWNTOWN MIAMI, SPACIOUS 2/2 WITH BEAUTIFUL VIEWS FORM THE 15TH FLOOR. CONCRETE FLOORS THROUGHOUT, OPEN KITCHEN / DINING AREA WITH STAINLESS STEEL APPLIANCES, PLENTY OF CABINETS, GRANITE COUNTER TOPS, LIVING ROOM WITH PLENTY OF NATURAL LIGHT, 10FT CEILINGS, STACK WASHER & DRYER IN UNIT, FULL BATHROOMS WITH MARBLE COUNTER TOPS, SHOWER AND TUB COMBINATION. AMAZING AMENITIES INCLUDING ROOF TOP POOL CURRENTLY UNDER CONSTRUCTION TO BE RE-OPENED THIS SUMMER, LOWER GROUND LAP POOL, FITNESS CENTER WITH SPECTACULAR SKYLINE VIEWS, SUANA, HOT TUB, CLUB ROOM WITH BILLIARDS, METRO MOVER ENTRANCE RIGHT OUTSIDE CONDO ENTRANCE, STEPS FROM BAYFRONT PARK, MIAMI DADE COMMUNITY COLLEGE, FTX ARENA, FORST MUSEUM, MINUTES FROM MIAMI BEACH & MUCH MORE. PLEASE READ BROKERS REMARKS!

27. 2020-11-25
    soldstatus $162,000
28. 2018-10-22
    historical
29. 2017-10-20
    listed $350,000 Active
30. 2017-10-19
    historical
31. 2017-05-09
    soldstatus $245,000 Sold
32. 2017-04-10
    listed $350,000 Active
33. 2017-03-30
    soldstatus $245,000
34. 2017-03-23
    status Pending
35. 2017-02-07
    listed $269,900 Active
36. 2017-02-01
    historical
37. 2016-12-22
    price $274,900
38. 2016-11-24
    price $299,900
39. 2016-08-27
    price $309,900
40. 2016-08-03
    price $339,900
41. 2016-08-01
    listed $349,900 Active
42. 2016-07-27
    historical
43. 2016-05-27
    price $399,000
44. 2016-03-23
    price $425,000
45. 2016-02-01
    listed $450,000 Active

ⓘ 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: $7,250 · $604/mo
• Projected year-2 tax: $7,250 · $604/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) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 26 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,493
• − Mortgage interest: −$26,271
• − Property taxes: −$7,250
• − Insurance: −$2,345
• − Repairs & maintenance: −$4,519
• − Management: −$4,519
• − HOA: −$11,580
• − Depreciation: −$13,644
• Taxable loss: −$13,636
• Est. tax savings @ 24.0%: +$3,273
• After-tax cash flow: $-2,787/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 — Miami

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,253
• Household income: $109,109
• Rent vs Own: 74.3% rent · 25.7% own
• Severe rent burden: 2260.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 53% Two or more races 39% White 29% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 9% Dominican 2% Salvadoran 1%
• Common ancestry: Estonian 2% Scotch-Irish 2% Romanian 1%
• Foreign-born: 50% · Canada, Jamaica, Dominican Republic
• Languages at home: 35% English-only · Spanish 49% Other Indo-European 6% Other Asian/Pacific 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: ▼ -2.52%
• Current HPI: 294.3744
• Rent YoY: ▲ 0.74%
• 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

+4.2% since first listed

32 events — show timeline

• 2026-05-27 Listed $469,000 MARMLS
• 2026-05-17 Listing Removed — MARMLS
• 2025-12-17 Listed $470,000 MARMLS
• 2025-08-12 Rental Removed $3,400 MARMLS
• 2025-07-25 Price Changed $3,400 MARMLS
• 2025-07-15 Listed for Rent $3,850 MARMLS
• 2025-04-27 Rental Removed $3,900 TURBOTENANT
• 2025-04-22 Price Changed $3,900 TURBOTENANT
• 2025-03-26 Listed for Rent $3,800 TURBOTENANT
• 2022-07-22 Sold (Public Records) $460,000 Public Records
• 2022-07-15 Sold (MLS) $460,000 MARMLS
• 2022-05-31 Contingent — MARMLS
• 2022-05-21 Listed $445,000 MARMLS
• 2020-11-25 Sold (Public Records) $162,000 Public Records
• 2018-10-22 Listing Removed — MARMLS
• 2017-10-20 Listed $350,000 MARMLS
• 2017-10-19 Listing Removed — MARMLS
• 2017-05-09 Sold (MLS) $245,000 MARMLS
• 2017-04-10 Listed $350,000 MARMLS
• 2017-03-30 Sold (Public Records) $245,000 Public Records
• 2017-03-23 Pending — MARMLS
• 2017-02-07 Listed $269,900 MARMLS
• 2017-02-01 Listing Removed — MARMLS
• 2016-12-22 Price Changed $274,900 MARMLS
• 2016-11-24 Price Changed $299,900 MARMLS
• 2016-08-27 Price Changed $309,900 MARMLS
• 2016-08-03 Price Changed $339,900 MARMLS
• 2016-08-01 Listed $349,900 MARMLS
• 2016-07-27 Listing Removed — MARMLS
• 2016-05-27 Price Changed $399,000 MARMLS
• 2016-03-23 Price Changed $425,000 MARMLS
• 2016-02-01 Listed $450,000 MARMLS

Property tax history

+6.8%/yr

Latest (2025): $7,250 · -2.4% YoY. Source: county tax records.