18151 NE 31st Ct #505 · Aventura, FL 33160

$210,000

1 bd · 1.0 ba · 918 sqft · Condo public records · 118 Days on market

Built 1981 Poor condition Garage $229/sqft · 36% below area Est $327k · 36% under $793/mo HOA · 29% of rent

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Why this score? — see what drove the C 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 +15.0/15.0
• Cash flow +12.0/30.0
• 1% rule +7.9/10.0
• Appreciation +5.3/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +2.7/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

GREAT OPPORTUNITY FOR A PERFECT LOCATION IN AVENTURA, NEXT TO WILLIAMS ISLAND, CLOSE TO AVENTURA MALL, FRESH MARKET, PUBLIX, APART IN GOOD CONDITION, VERY RELAXING AND PRETTY LAKE VIEW, TWO POOLS BY THE LAKE , GYM, SAUNA,

Key facts

• Fitness center
• Large balcony
• Pool

Tags

• INTERCOASTAL-BAY VIEWS
• FLOOR-TO-CEILING WINDOWS
• LARGE BALCONY
• FULL-SERVICE BUILDING
• FITNESS CENTER
• POOL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $210k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-50 ($-599/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (4.2% below list).
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $191k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 1.8% in Aventura — 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 80/100 on livability (#127 in FL, #1,834 nationally) — a professional / high-income tenant draw. Strengths: health & safety A+, amenities A, commute A; Watch: crime D+, 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: Aventura Waterways K-8 Center (math 56% / reading 65%, grade B-, #664 of 2,144 statewide, top 32%, 2,168 students, 32% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Dr. Michael M. Krop Senior High (math 21% / reading 46%, grade F, #400 of 667 statewide, top 61%, 2,235 students, 49% FRL) — zoned schools average 44% FRL vs 64% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 2152 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $2,718/mo this rent would consume 49% of the median local household income ($67k/yr) (locally 17% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $1k appreciation (0.5% local appreciation)).
• 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 118 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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.
• Current owner paid $170k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $191,100 (9.0% 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. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-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?
9. Crime grade is D 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?
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: 1.29% ✓
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• GRM: 6.4

CMA / ARV

• ARV (median comp): $327,164
• List price: $210,000
• Delta: -35.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17800 Atlantic Blvd Ph 9	0.95mi	1/1.5	930 (+1%)	0mo	$275,000	$296	61
18201 Collins Ave #708	1.14mi	1/1.5	881 (-4%)	0mo	$685,000	$778	56
3551 NE 169th St #105	0.56mi	1/1.0	812 (-12%)	0mo	$199,999	$246	54
3600 NE 170th St #404	0.53mi	1/1.5	812 (-12%)	0mo	$180,000	$222	54
3751 NE 170th St #4	0.53mi	2/2.0 (+1)	990 (+8%)	0mo	$300,000	$303	53
16851 NE 23rd Ave Unit A212	1.38mi	1/1.0	720 (-22%)	0mo	$134,500	$187	40
2841 NE 163rd St #1211	1.20mi	1/1.5	790 (-14%)	0mo	$230,000	$291	40
17100 N Bay Rd Unit 1214	0.96mi	2/2.0 (+1)	1,024 (+12%)	0mo	$415,000	$405	37
17001 Collins Ave #1807	1.30mi	1/2.0	1,110 (+21%)	0mo	$1,326,000	$1,195	36
17001 Collins Ave #1407	1.30mi	1/2.0	1,110 (+21%)	0mo	$1,250,000	$1,126	36
3300 NE 191st St #714	0.66mi	2/2.0 (+1)	1,134 (+24%)	0mo	$348,000	$307	35
17900 N Bay Rd #408	0.82mi	2/2.0 (+1)	1,050 (+14%)	0mo	$410,000	$390	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.85×
• Total profit: $-9,088
• Equity at exit: $66,569

10-year hold

• IRR: 0.3%
• Equity multiple: 1.03×
• Total profit: $1,911
• Equity at exit: $84,629

Cash invested: $58,800 (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 →

Active competition Active MLS

• For sale now: 21 active · 8 under contract
• Median asking: $330,000 ($363/sqft)
• Median days on market: 168 d
• This list price: 10% of active listings are priced below it
• ARV vs active asking: -1.9% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 2152
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,718 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$215 /mo · $2,582/yr
• Insurance: −$88
• HOA: −$793
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $-50

Break-even live

Break-even rent $2,781

Max offer price $201,179

Occupancy floor 97%

Sensitivity live

Price	-10% $69	-5% $10	+0% $-50	+5% $-109	+10% $-169
Rent	-10% $-265	-5% $-157	+0% $-50	+5% $57	+10% $165
Rate	-1.0pp $56	-0.5pp $3	base $-50	+0.5pp $-104	+1.0pp $-160

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: $52,500
• Closing costs: $6,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Association-maintained pool
• Financial info: Pets allowed with restrictions/possible restrictions (conditional)
• HOA & community: Monthly association feeAssociation amenities include a pool and elevatorsAssociation covers amenities, common areas, sewer, security, trash and water

Exterior

• Parking: One covered garage space with garage door opener
• Security: Closed-circuit camerasDoorman
• Utilities: Has water serviceHas sewer serviceHas power
• Home design: Condominium (attached property)21 total storiesEntry on level 5Bayfront view
• Construction: Block construction
• Exterior features: BalconyBarbecue areaCourtyardOpen patio

Interior

• Bedrooms: Bedroom located on the main level
• Flooring: Carpet flooring
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: Central air conditioningElectric heating
• Interior features: Bedroom on main levelFirst-floor entry

HOA detail $793/mo · $9,516/yr condo

• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $210,000 Active 118 DOM
2. 2026-08-06
   days on market $210,000 Active 116 DOM
3. 2026-08-05
   days on market $210,000 Active 115 DOM
4. 2026-08-04
   days on market $210,000 Active 114 DOM
5. 2026-08-03
   days on market $210,000 Active 113 DOM
6. 2026-07-31
   days on market $210,000 Active 110 DOM
7. 2026-07-28
   days on market $210,000 Active 107 DOM
8. 2026-07-24
   days on market $210,000 Active 103 DOM
9. 2026-07-23
   days on market $210,000 Active 102 DOM
10. 2026-07-22
    days on market $210,000 Active 101 DOM
11. 2026-07-21
    days on market $210,000 Active 100 DOM
12. 2026-07-20
    days on market $210,000 Active 99 DOM
13. 2026-07-18
    days on market $210,000 Active 97 DOM
14. 2026-07-16
    days on market $210,000 Active 95 DOM
15. 2026-07-15
    days on market $210,000 Active 94 DOM
16. 2026-07-13
    days on market $210,000 Active 92 DOM
17. 2026-07-13
    days on market $210,000 Active 91 DOM
18. 2026-07-11
    days on market $210,000 Active 90 DOM
19. 2026-07-10
    days on market $210,000 Active 89 DOM
20. 2026-07-09
    days on market $210,000 Active 88 DOM
21. 2026-07-07
    days on market $210,000 Active 86 DOM
22. 2026-07-06
    days on market $210,000 Active 85 DOM
23. 2026-07-06
    days on market $210,000 Active 84 DOM
24. 2026-07-05
    days on market $210,000 Active 83 DOM
25. 2026-07-03
    days on market $210,000 Active 82 DOM
26. 2026-07-02
    days on market $210,000 Active 81 DOM
27. 2026-07-01
    days on market $210,000 Active 80 DOM
28. 2026-06-30
    days on market $210,000 Active 79 DOM
29. 2026-06-29
    days on market $210,000 Active 78 DOM
30. 2026-06-28
    days on market $210,000 Active 77 DOM
31. 2026-06-27
    days on market $210,000 Active 76 DOM
32. 2026-06-26
    days on market $210,000 Active 75 DOM
33. 2026-06-24
    days on market $210,000 Active 73 DOM
34. 2026-06-22
    days on market $210,000 Active 71 DOM
35. 2026-06-21
    days on market $210,000 Active 70 DOM
36. 2026-06-18
    days on market $210,000 Active 67 DOM
37. 2026-06-17
    days on market $210,000 Active 66 DOM
38. 2026-06-16
    days on market $210,000 Active 65 DOM
39. 2026-06-15
    days on market $210,000 Active 64 DOM
40. 2026-06-13
    days on market $210,000 Active 62 DOM
41. 2026-06-09
    days on market $210,000 Active 58 DOM
42. 2026-06-08
    days on market $210,000 Active 57 DOM
43. 2026-06-07
    days on market $210,000 Active 56 DOM
44. 2026-06-04
    days on market $210,000 Active 53 DOM
45. 2026-06-03
    days on market $210,000 Active 52 DOM
46. 2026-06-02
    days on market $210,000 Active 51 DOM
47. 2026-06-01
    days on market $210,000 Active 50 DOM
48. 2026-05-31
    days on market $210,000 Active 49 DOM
49. 2026-04-12
    listed $210,000 Active
50. 2025-05-27
    historical

ⓘ 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: $2,582 · $215/mo
• Projected year-2 tax: $2,582 · $215/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $32,613
• − Mortgage interest: −$11,763
• − Property taxes: −$2,582
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,609
• − Management: −$2,609
• − HOA: −$9,516
• − Depreciation: −$6,109
• Taxable loss: −$3,626
• Est. tax savings @ 24.0%: +$870
• After-tax cash flow: $271/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.

Condition & rehab AI · 3 photos

Poor 20/100 Extensive rehab Est. rehab $45,900–$82,620 screening

This property requires extensive renovations and repairs, including a new roof, exterior and interior updates, and landscaping improvements. The home's current condition is poor, and significant investment is needed to bring it up to market standards.

Repairs flagged

• Major roof — Visible discoloration and potential damage on the roof.
• Major exterior walls — Weathered and in need of repainting.
• Major flooring — Worn and dated, indicating a need for replacement.
• Major interior walls — In need of fresh paint and updates.
• Major windows — Old and in need of replacement.
• Major HVAC/mechanical systems — No photos provided, but the overall condition suggests a need for updates.
• Major landscaping — Overgrown and in need of landscaping improvements.
• Major foundation/structure — No photos provided, but the overall condition suggests a need for updates.

Value-add opportunities

• Both extensive exterior and interior renovations — Updating the exterior and interior will significantly improve the home's appearance and appeal to potential buyers and renters. ↑
• Both new roof — A new roof will not only improve the home's appearance but also increase its value by reducing maintenance costs and potential future repairs. ↑
• Both new flooring and paint — Updating the flooring and painting the interior will make the home more attractive and increase its value. ↑
• Both new windows — New windows will improve the home's energy efficiency and increase its value. ↑
• Both HVAC and mechanical systems — Upgrading the HVAC and mechanical systems will improve the home's comfort and energy efficiency, increasing its value. ↑
• Both landscaping and curb appeal — A well-maintained and landscaped exterior will improve the home's curb appeal and increase its value. ↑
• Both foundation and structure repairs — Repairing the foundation and structure will ensure the home's structural integrity and increase its value. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary Aventura Waterways K-8 Center B- FL #664/2,144 Nat'l #7,053/41,679 Middle Highland Oaks Middle School F FL #373/571 Nat'l #6,151/14,009 High Dr. Michael M. Krop Senior High F FL #400/667 Nat'l #10,191/17,239

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

A Composite livability gradescore 80/100

Livability — Aventura

• Score: 80/100
• State rank: #127
• US rank: #1834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aventura, FL
• County: Miami-Dade County · 3,126,439 people
• City population: 34,147
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,718
• Household income: $67,040
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 17% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 46% White 44% Two or more races 27% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 8% Dominican 1% Salvadoran 4%
• Common ancestry: Scotch-Irish 8% Hispanic 3% Subsaharan African 3%
• Foreign-born: 61% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · Spanish 45% Russian/Polish/Slavic 12% Other Indo-European 5%

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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: ▲ 0.53%
• Current HPI: 284.9293
• Rent YoY: ▲ 0.94%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: Association-maintained pool
• Financial info: Pets allowed with restrictions/possible restrictions (conditional)
• HOA & community: Monthly association feeAssociation amenities include a pool and elevatorsAssociation covers amenities, common areas, sewer, security, trash and water

Exterior

• Parking: One covered garage space with garage door opener
• Security: Closed-circuit camerasDoorman
• Utilities: Has water serviceHas sewer serviceHas power
• Home design: Condominium (attached property)21 total storiesEntry on level 5Bayfront view
• Construction: Block construction
• Exterior features: BalconyBarbecue areaCourtyardOpen patio

Interior

• Bedrooms: Bedroom located on the main level
• Flooring: Carpet flooring
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: Central air conditioningElectric heating
• Interior features: Bedroom on main levelFirst-floor entry

Price history

+147.1% since first listed

17 events — show timeline

• 2026-04-12 Listed $210,000 MARMLS
• 2025-05-27 Listing Removed — MARMLS
• 2024-06-18 Relisted — MARMLS
• 2024-06-18 Relisted — MARMLS
• 2024-05-28 Listed $280,000 MARMLS
• 2021-11-02 Sold (Public Records) $170,000 Public Records
• 2021-10-19 Sold (MLS) $170,000 MARMLS
• 2021-09-09 Pending — MARMLS
• 2021-09-01 Relisted — MARMLS
• 2021-06-07 Pending — MARMLS
• 2021-05-12 Price Changed $179,000 MARMLS
• 2021-03-11 Listed $184,000 MARMLS
• 2008-04-01 Sold (Public Records) $185,000 Public Records
• 2008-03-31 Sold (MLS) $185,000 MARMLS
• 2002-05-09 Sold (Public Records) $120,000 Public Records
• 2000-07-18 Sold (Public Records) $75,000 Public Records
• 1993-02-09 Sold (Public Records) $85,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $2,582 · -3.8% YoY. Source: county tax records.