1150 NE 191st St #45 · Ojus, FL 33179

$158,000

1 bd · 1.0 ba · 830 sqft · Condo public records · 45 Days on market

Built 1966 $549/mo HOA · 17% 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

Beautiful water view apartment with 1B and Den , convenient location. Under new management company with a Beautiful Party Room and amenities for the owner. Management Company contact Ardent Property Group LLC for more info about assessment and restrictions

Key facts

• $549 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $158k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $158k).
• Recommended offer: $153k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 8.7% 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: schools D+, 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.
• Market conditions: Rents flat; 572 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,218/mo this rent would consume 59% 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 $5k 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 45 days — a 3% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 13y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $80k; list at $158k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 4→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,260 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 2.04% ✓
• Cap rate: 13.21%
• Cash-on-cash: 24.71%
• DSCR: 2.10
• GRM: 4.1

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: -1.8%
• Equity multiple: 0.94×
• Total profit: $-2,866
• Equity at exit: $23,558

10-year hold

• IRR: 2.3%
• Equity multiple: 1.13×
• Total profit: $5,847
• Equity at exit: $13,661

Cash invested: $44,240 (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: 572
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $3,218 medium
• Mortgage (P&I): −$829
• Tax from tax record: −$188 /mo · $2,254/yr
• Insurance: −$66
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$549
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $484

Break-even live

Break-even rent $2,605

Max offer price $158,000

Occupancy floor 80%

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: $39,500
• Closing costs: $4,740
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $549 · $6,588/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-03-02
   status Pending
2. 2026-02-28
   historical Active Under Contract
3. 2026-02-23
   status Active
4. 2026-01-10
   price $158,000
5. 2026-01-03
   listed $150,000 Active
6. 2025-12-31
   historical
7. 2025-10-02
   price $156,500
8. 2025-07-22
   price $157,500
9. 2025-04-05
   price $158,000
10. 2025-03-18
    price $159,999
11. 2025-02-10
    price $170,000
12. 2025-01-16
    price $179,999
13. 2024-10-19
    historical
14. 2024-10-01
    listed $189,999 Active
15. 2024-06-19
    listed $198,000 Active
16. 2024-06-19
    historical
17. 2024-04-05
    listed $180,000 Active
18. 2024-04-05
    historical
19. 2023-11-19
    listed $185,000 Active
20. 2023-10-25
    historical
21. 2023-06-29
    status Active
22. 2023-06-17
    status Pending
23. 2023-04-03
    status Active
24. 2023-03-26
    status Pending
25. 2022-12-05
    status Active
26. 2022-12-05
    price $175,000
27. 2022-11-16
    status Pending
28. 2022-07-05
    listed $150,000 Active
29. 2018-07-06
    historical
30. 2017-08-28
    listed $125,000 Active
31. 2017-08-14
    historical
32. 2017-04-11
    listed $125,000 Active
33. 2017-04-03
    historical
34. 2016-12-29
    listed $125,000 Active
35. 2016-12-19
    soldstatus $80,000 Sold
36. 2016-12-13
    soldstatus $80,000
37. 2016-08-30
    listed $89,000 Active
38. 2016-08-25
    historical
39. 2016-02-12
    price $85,000
40. 2016-02-12
    price $92,000
41. 2016-02-12
    price $88,000
42. 2016-02-04
    listed $92,000 Active
43. 2016-02-01
    historical
44. 2016-01-22
    price $92,000
45. 2015-10-19
    listed $100,000 Active
46. 2015-08-03
    historical
47. 2015-06-30
    historical
48. 2015-06-30
    listed $100,000 Active
49. 2015-05-11
    price $90,000
50. 2014-12-01
    listed $85,000 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: $2,254 · $188/mo
• Projected year-2 tax: $2,254 · $188/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 4 d/yr ≥104°F today · 13 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,615
• − Mortgage interest: −$8,850
• − Property taxes: −$2,254
• − Insurance: −$5,908
• − Repairs & maintenance: −$3,089
• − Management: −$3,089
• − HOA: −$6,588
• − Depreciation: −$4,596
• Taxable income: $4,240
• Est. tax owed @ 24.0%: −$1,018
• After-tax cash flow: $4,795/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

+496.2% since first listed

64 events — show timeline

• 2026-03-02 Pending — MARMLS
• 2026-02-28 Contingent — MARMLS
• 2026-02-23 Relisted — MARMLS
• 2026-01-10 Price Changed $158,000 MARMLS
• 2026-01-03 Listed $150,000 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-10-02 Price Changed $156,500 MARMLS
• 2025-07-22 Price Changed $157,500 MARMLS
• 2025-04-05 Price Changed $158,000 MARMLS
• 2025-03-18 Price Changed $159,999 MARMLS
• 2025-02-10 Price Changed $170,000 MARMLS
• 2025-01-16 Price Changed $179,999 MARMLS
• 2024-10-19 Listing Removed — MARMLS
• 2024-10-01 Listed $189,999 MARMLS
• 2024-06-19 Listing Removed — MARMLS
• 2024-06-19 Listed $198,000 MARMLS
• 2024-04-05 Listing Removed — MARMLS
• 2024-04-05 Listed $180,000 MARMLS
• 2023-11-19 Listed $185,000 MARMLS
• 2023-10-25 Listing Removed — MARMLS
• 2023-06-29 Relisted — MARMLS
• 2023-06-17 Pending — MARMLS
• 2023-04-03 Relisted — MARMLS
• 2023-03-26 Pending — MARMLS
• 2022-12-05 Relisted — MARMLS
• 2022-12-05 Price Changed $175,000 MARMLS
• 2022-11-16 Pending — MARMLS
• 2022-07-05 Listed $150,000 MARMLS
• 2018-07-06 Listing Removed — MARMLS
• 2017-08-28 Listed $125,000 MARMLS
• 2017-08-14 Listing Removed — MARMLS
• 2017-04-11 Listed $125,000 MARMLS
• 2017-04-03 Listing Removed — MARMLS
• 2016-12-29 Listed $125,000 MARMLS
• 2016-12-19 Sold (MLS) $80,000 MARMLS
• 2016-12-13 Sold (Public Records) $80,000 Public Records
• 2016-08-30 Listed $89,000 MARMLS
• 2016-08-25 Listing Removed — MARMLS
• 2016-02-12 Price Changed $92,000 MARMLS
• 2016-02-12 Price Changed $85,000 MARMLS
• 2016-02-12 Price Changed $88,000 MARMLS
• 2016-02-04 Listed $92,000 MARMLS
• 2016-02-01 Listing Removed — MARMLS
• 2016-01-22 Price Changed $92,000 MARMLS
• 2015-10-19 Listed $100,000 MARMLS
• 2015-08-03 Listing Removed — MARMLS
• 2015-06-30 Listing Removed — MARMLS
• 2015-06-30 Listed $100,000 MARMLS
• 2015-05-11 Price Changed $90,000 MARMLS
• 2014-12-01 Listed $85,000 MARMLS
• 2014-10-20 Sold (MLS) $55,000 MARMLS
• 2014-08-28 Pending — MARMLS
• 2014-06-27 Listed $59,900 MARMLS
• 2014-06-20 Listing Removed — Beaches MLS
• 2014-06-17 Listed $59,900 Beaches MLS
• 2014-03-13 Listing Removed — MARMLS
• 2013-09-24 Pending — MARMLS
• 2013-08-26 Listing Removed — MARMLS
• 2013-08-26 Relisted — MARMLS
• 2013-08-23 Listing Removed — MARMLS
• 2013-08-23 Listed $46,250 MARMLS
• 2005-10-08 Sold (Public Records) $125,000 Public Records
• 2001-07-27 Sold (Public Records) $52,500 Public Records
• 1974-11-01 Sold (Public Records) $26,500 Public Records

Property tax history

+11.4%/yr

Latest (2025): $2,254 · +5.6% YoY. Source: county tax records.