8015 SW 107th Ave #119 · Kendall, FL 33173

$265,000

4 bd · 2.0 ba · 1,040 sqft · Condo public records · 33 Days on market

Built 1980 $587/mo HOA · 19% 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 +12.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.2/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Great Opportunity! 3-Bedroom Corner Unit in Horizons East – Kendall. This first-floor corner unit in Horizons East Condominium offers 3 bedrooms, 2 bathrooms, and a spacious layout with plenty of natural light. The well-kept interior provides a comfortable living space, while the primary suite features a private bath. The community offers great amenities, including a pool, gym, tennis courts, and more. Conveniently located in Kendall, with easy access to schools, shopping, dining, and major highways. A great find at a great price—schedule your showing today!

Key facts

• Private bath
• Community amenities
• Corner unit

Tags

• CORNER UNIT
• PRIVATE BATH
• COMMUNITY AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $250k (5.7% below list).
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $250k (5.7% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 2.8% in Kendall — 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 77/100 on livability (#190 in FL, #3,010 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities 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.
• Zoned schools: Sunset Park Elementary School (math 57% / reading 64%, grade B-, #664 of 2,144 statewide, top 32%, 402 students, 66% FRL); Glades Middle School (math 53% / reading 56%, grade B-, #183 of 571 statewide, top 34%, 645 students, 56% FRL); Miami Killian Senior High School (math 23% / reading 37%, grade F, #441 of 667 statewide, top 67%, 1,069 students, 61% FRL) — zoned schools at 61% FRL track the district average.
• Market conditions: Rents soft (-0.6%/yr); 168 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 41% of the median local income ($88k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 33 days — a 3% lower offer ($257k) 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $249,778 (5.7% 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. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.15% ✓
• Cap rate: 6.20%
• Cash-on-cash: -0.32%
• DSCR: 0.99
• GRM: 7.2

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: -23.2%
• Equity multiple: 0.23×
• Total profit: $-56,915
• Equity at exit: $39,512

10-year hold

• IRR: -35.4%
• Equity multiple: -0.20×
• Total profit: $-89,333
• Equity at exit: $22,912

Cash invested: $74,200 (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 33173

• Rents YoY: -0.6%
• Active inventory: 168
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,051 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$343 /mo · $4,112/yr
• Insurance: −$110
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$587
• Vacancy / Maint / Mgmt: −$641
• Net cashflow: $-86

Break-even live

Break-even rent $3,160

Max offer price $249,778

Occupancy floor 98%

Sensitivity live

Price	-10% $64	-5% $-11	+0% $-86	+5% $-161	+10% $-236
Rent	-10% $-327	-5% $-207	+0% $-86	+5% $34	+10% $155
Rate	-1.0pp $47	-0.5pp $-19	base $-86	+0.5pp $-155	+1.0pp $-225

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8015 SW 107th Ave Miami, FL	2.0–3.0	2.0	1002	$2,550	$2.54	3d	2	0.04mi
8015 SW 107th Ave Miami, FL	1.0–3.0	1.5–2.0	872	$2,550	$2.92	5d	3	0.04mi
8015 SW 107th Ave Miami, FL	1.0–3.0	1.5–2.0	872	$2,550	$2.92	0d	3	0.04mi
8025 SW 107th Ave Miami, FL	1.0–3.0	1.5–2.0	872	$2,600	$2.98	7d	2	0.06mi
8025 SW 107th Ave Miami, FL	1.0–3.0	1.5–2.0	872	$2,600	$2.98	26d	2	0.06mi
8025 SW 107th Ave Miami, FL	3.0	2.0	1040	$2,600	$2.50	9d	1	0.06mi
8415 SW 107th Ave Unit 206 Miami, FL	3.0	2.0	1300	$2,600	$2.00	26d	1	0.30mi
8401 SW 107th Ave Miami, FL	1.0–3.0	1.0–2.0	1768	$2,995	$1.69	13d	8	0.30mi
8401 SW 107th Ave Miami, FL	1.0–3.0	1.0–2.0	1768	$2,995	$1.69	20d	8	0.30mi
8401 SW 107th Ave Miami, FL	2.0–3.0	1.0–2.0	1852	$2,995	$1.62	0d	6	0.30mi
8401 SW 107th Ave Miami, FL	2.0–3.0	1.0–2.0	1768	$2,995	$1.69	13d	8	0.30mi
10944 SW 75th Ter Miami, FL	3.0	3.0	1336	$3,300	$2.47	26d	1	0.54mi
7121 SW 102nd Ct Miami, FL	3.0	2.0	1137	$3,400	$2.99	7d	1	0.59mi
7121 SW 102nd Ct Miami, FL	3.0	2.0	1137	$3,400	$2.99	26d	1	0.59mi
10794 N Kendall Dr Miami, FL	3.0	2.0	1130	$2,538	$2.25	26d	2	0.62mi
10794 N Kendall Dr Unit B23 Miami, FL	3.0	2.0	1130	$2,575	$2.28	0d	1	0.62mi
7502 SW 109th Pl Miami, FL	3.0	3.0	1336	$3,300	$2.47	4d	1	0.62mi
10907 N Kendall Dr Unit 313 Miami, FL	3.0	2.0	1330	$2,600	$1.95	0d	1	0.65mi
10907 N Kendall Dr Unit 313 Miami, FL	3.0	2.0	1330	$2,600	$1.95	26d	1	0.65mi
9770 SW 77th Ter Miami, FL	3.0	1.0	1340	$3,900	$2.91	22d	1	0.71mi
7104 SW 110th Ave Unit 7104 Miami, FL	3.0	2.0	1378	$3,396	$2.46	6d	1	0.80mi
7104 SW 110th Ave Miami, FL	3.0	2.0	1378	$3,300	$2.39	26d	1	0.80mi
7104 SW 110th Ave Miami, FL	3.0	2.0	1378	$3,399	$2.47	3d	1	0.80mi
7115 SW 111th Pl Miami, FL	3.0	2.0	1365	$3,000	$2.20	0d	1	0.82mi
7531 SW 95th Pl Miami, FL	3.0	2.0	1413	$4,150	$2.94	16d	1	0.97mi
7112 SW 113th Ct Miami, FL	3.0	2.0	1378	$3,200	$2.32	16d	1	0.99mi
7101 SW 113th Ct Miami, FL	3.0	2.0	1482	$3,000	$2.02	26d	1	0.99mi
11449 SW 84th Ln Miami, FL	3.0	2.0	1359	$3,600	$2.65	9d	1	1.02mi
11449 SW 84th Ln Miami, FL	3.0	2.0	1359	$3,600	$2.65	16d	1	1.02mi
10700 SW 63rd St Unit 10700 Miami, FL	4.0	2.0	1378	$4,200	$3.05	26d	1	1.05mi
6371 SW 109th Ct Miami, FL	4.0	2.0	1344	$4,500	$3.35	22d	1	1.13mi
11472 SW 87th Ter Miami, FL	3.0	2.0	1359	$3,375	$2.48	7d	1	1.14mi
6521 SW 114th Ave Miami, FL	3.0	2.0	1378	$2,950	$2.14	7d	1	1.25mi
6606 SW 115th Ct Unit H Miami, FL	3.0	2.5	1500	$2,950	$1.97	26d	1	1.32mi
11820 SW 80th St #312 Miami, FL	3.0	2.5	1495	$3,000	$2.01	26d	1	1.33mi
6517 SW 116th Pl Miami, FL	3.0	2.0	1340	$3,500	$2.61	26d	1	1.46mi
6435 SW 116th Pl Unit G Miami, FL	3.0	2.0	1330	$3,200	$2.41	26d	1	1.47mi

HOA detail condo

• Monthly dues: $587 · $7,044/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2025-12-29
   soldstatus $237,100
2. 2025-10-13
   status Pending
3. 2025-09-10
   listed $265,000 Active
4. 2025-08-26
   historical
5. 2025-05-06
   price $285,000
6. 2025-02-26
   listed $299,999 Active
7. 2003-10-31
   soldstatus $125,000
8. 2002-01-10
   soldstatus $95,000
9. 1999-06-28
   soldstatus $70,000
10. 1994-10-12
    soldstatus $64,000
11. 1991-05-14
    soldstatus $50,000

ⓘ 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: $4,112 · $343/mo
• Projected year-2 tax: $4,112 · $343/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 7/10 Severe FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,609
• − Mortgage interest: −$14,844
• − Property taxes: −$4,112
• − Insurance: −$2,122
• − Repairs & maintenance: −$2,929
• − Management: −$2,929
• − HOA: −$7,044
• − Depreciation: −$7,709
• Taxable loss: −$5,081
• Est. tax savings @ 24.0%: +$1,219
• After-tax cash flow: $185/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 — Kendall

• Score: 77/100
• State rank: #190
• US rank: #3010

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kendall, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 52,190
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 31,778
• Household income: $88,271
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 932.0

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: Predominantly Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 45% White 17% Asian 3% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 46% Dominican 2%
• Common ancestry: Lithuanian 2% Romanian 1% Scotch-Irish 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · Spanish 70% Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▼ -507.27%
• Current HPI: 419.2614
• Rent YoY: ▼ -0.60%
• 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

+374.2% since first listed

11 events — show timeline

• 2025-12-29 Sold (Public Records) $237,100 Public Records
• 2025-10-13 Pending — MARMLS
• 2025-09-10 Listed $265,000 MARMLS
• 2025-08-26 Listing Removed — MARMLS
• 2025-05-06 Price Changed $285,000 MARMLS
• 2025-02-26 Listed $299,999 MARMLS
• 2003-10-31 Sold (Public Records) $125,000 Public Records
• 2002-01-10 Sold (Public Records) $95,000 Public Records
• 1999-06-28 Sold (Public Records) $70,000 Public Records
• 1994-10-12 Sold (Public Records) $64,000 Public Records
• 1991-05-14 Sold (Public Records) $50,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $4,112 · +5.7% YoY. Source: county tax records.