121 NE 34 St #2511 · Miami, FL 33137

$489,999

1 bd · 1.0 ba · 612 sqft · Condo public records · 439 Days on market

Built 2018 $1046/mo HOA · 27% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Cash flow +3.6/30.0
• Rent growth +3.2/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

COME LIVE IN THIS AMAZING 1/1 APARTMENT WITH TOP OF THE LINE AMENITIES. THIS BUILDING IS LOCATED IN THE BEST LOCATION, WITH SHOPS, AND MULTIPLE RESTAURANTS IN THE AREA!!! JUST MINUTES FROM THE HIGHWAY, MIAMI BEACH, DOWNTOWN AND BRICKELL. BLACK OUT IN BEDROOM AND SCREEN IN LIVING ROOM!!

Key facts

• $1,046 HOA
• Garage
• Built 2018

Property features AI

Finance

• Other: Pets: conditional; restrictions or possible restrictions apply
• Financial info: Association fee: $1,046 monthly
• HOA & community: Monthly association fee; Association fee covers amenities; Building amenities include elevators, fitness center, spa/hot tub

Exterior

• Parking: Attached garage with 1 assigned covered space; Valet available
• Security: Secured elevator
• Utilities: Central heating and cooling
• Home design: Condominium/unit in a 31-story building; Faces east; Entry on level 15; Attached property
• Construction: Block construction
• Exterior features: Balcony (open); Security/high-impact doors; Elevator-secured entry

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Bedroom located on the main level
• Flooring: Carpet flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Elevator; Unit is furnished; Bedroom on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $490k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (52.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $384k (21.7% below list).
• Recommended offer: $233k (52.5% below list) — sets the bar for cash-flow.
• Cap rate 2.7% 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.
• Zoned schools: Eneida M. Hartner Elementary School (math 42% / reading 37%, grade F, #1,513 of 2,144 statewide, top 73%, 377 students, 72% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 67% FRL track the district average.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-24 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.7%/yr); 758 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($3k loan paydown + $1k appreciation (0.3% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 439 days — a 12% lower offer ($431k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 27% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $232,981 (52.5% 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 439 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.78% ✗
• Cap rate: 2.73%
• Cash-on-cash: -12.73%
• DSCR: 0.43
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.26×
• Total profit: $-101,008
• Equity at exit: $148,978

10-year hold

• IRR: -9.1%
• Equity multiple: 0.00×
• Total profit: $-137,058
• Equity at exit: $184,515

Cash invested: $137,200 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 758
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,839 medium
• Mortgage (P&I): −$2,570
• Tax from tax record: −$668 /mo · $8,014/yr
• Insurance: −$204
• HOA: −$1,046
• Vacancy / Maint / Mgmt: −$806
• Net cashflow: $-1,455

Break-even live

Break-even rent $5,680

Max offer price $232,981

Occupancy floor —

Sensitivity live

Price	-10% $-1,178	-5% $-1,316	+0% $-1,455	+5% $-1,594	+10% $-1,732
Rent	-10% $-1,758	-5% $-1,607	+0% $-1,455	+5% $-1,303	+10% $-1,152
Rate	-1.0pp $-1,208	-0.5pp $-1,330	base $-1,455	+0.5pp $-1,582	+1.0pp $-1,711

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: $122,500
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$8,110	$6.44	3d	13	0.28mi

HOA detail condo

• Monthly dues: $1,046 · $12,552/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-22
   days on market $489,999 Active 439 DOM
2. 2026-06-18
   days on market $489,999 Active 436 DOM
3. 2026-06-17
   days on market $489,999 Active 435 DOM
4. 2026-06-16
   days on market $489,999 Active 434 DOM
5. 2026-06-15
   days on market $489,999 Active 433 DOM
6. 2026-06-13
   days on market $489,999 Active 431 DOM
7. 2026-06-09
   days on market $489,999 Active 427 DOM
8. 2026-06-08
   days on market $489,999 Active 426 DOM
9. 2026-06-08
   days on market $489,999 Active 425 DOM
10. 2026-06-04
    days on market $489,999 Active 422 DOM
11. 2026-06-03
    days on market $489,999 Active 421 DOM
12. 2026-06-02
    days on market $489,999 Active 420 DOM
13. 2026-06-01
    days on market $489,999 Active 419 DOM
14. 2026-05-31
    days on market $489,999 Active 418 DOM
15. 2025-12-12
    price $489,999
16. 2025-07-30
    price $495,000
17. 2025-04-09
    listed $500,000 Active
18. 2025-04-02
    listed $3,800
19. 2024-04-08
    soldstatus $455,000
20. 2024-03-19
    soldstatus $455,000 Closed 286-char remark

    Show marketing remark (286 chars)

    COME LIVE IN THIS AMAZING 1/1 APARTMENT WITH TOP OF THE LINE AMENITIES. THIS BUILDING IS LOCATED IN THE BEST LOCATION, WITH SHOPS, AND MULTIPLE RESTAURANTS IN THE AREA!!! JUST MINUTES FROM THE HIGHWAY, MIAMI BEACH, DOWNTOWN AND BRICKELL. BLACK OUT IN BEDROOM AND SCREEN IN LIVING ROOM!!

21. 2024-02-26
    status Pending 286-char remark

    Show marketing remark (286 chars)

    COME LIVE IN THIS AMAZING 1/1 APARTMENT WITH TOP OF THE LINE AMENITIES. THIS BUILDING IS LOCATED IN THE BEST LOCATION, WITH SHOPS, AND MULTIPLE RESTAURANTS IN THE AREA!!! JUST MINUTES FROM THE HIGHWAY, MIAMI BEACH, DOWNTOWN AND BRICKELL. BLACK OUT IN BEDROOM AND SCREEN IN LIVING ROOM!!

22. 2023-12-19
    listed $500,000 Active 286-char remark

    Show marketing remark (286 chars)

    COME LIVE IN THIS AMAZING 1/1 APARTMENT WITH TOP OF THE LINE AMENITIES. THIS BUILDING IS LOCATED IN THE BEST LOCATION, WITH SHOPS, AND MULTIPLE RESTAURANTS IN THE AREA!!! JUST MINUTES FROM THE HIGHWAY, MIAMI BEACH, DOWNTOWN AND BRICKELL. BLACK OUT IN BEDROOM AND SCREEN IN LIVING ROOM!!

23. 2018-03-29
    soldstatus $355,900

ⓘ 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: $8,014 · $668/mo
• Projected year-2 tax: $8,014 · $668/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥103°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,066
• − Mortgage interest: −$27,448
• − Property taxes: −$8,014
• − Insurance: −$2,450
• − Repairs & maintenance: −$3,685
• − Management: −$3,685
• − HOA: −$12,552
• − Depreciation: −$14,255
• Taxable loss: −$26,023
• Est. tax savings @ 24.0%: +$6,245
• After-tax cash flow: $-11,214/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): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 3106.0

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 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% Other Indo-European 5%

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: ▲ 0.27%
• Current HPI: 385.1514
• Rent YoY: ▲ 2.73%
• 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

+37.7% since first listed

9 events — show timeline

• 2025-12-12 Price Changed $489,999 MARMLS
• 2025-07-30 Price Changed $495,000 MARMLS
• 2025-04-09 Listed $500,000 MARMLS
• 2025-04-02 Listed for Rent $3,800 MARMLS
• 2024-04-08 Sold (Public Records) $455,000 Public Records
• 2024-03-19 Sold (MLS) $455,000 MARMLS
• 2024-02-26 Pending — MARMLS
• 2023-12-19 Listed $500,000 MARMLS
• 2018-03-29 Sold (Public Records) $355,900 Public Records

Property tax history

+50.4%/yr

Latest (2025): $8,014 · +4.7% YoY. Source: county tax records.