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

$210,000

1 bd · 1.0 ba · 918 sqft · Condo public records · 67 Days on market

Built 1981 $793/mo HOA · 21% 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
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

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

Property features AI

Finance

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

Exterior

• Parking: One covered garage space with garage door opener
• Security: Closed-circuit cameras; Doorman
• Utilities: Has water service; Has sewer service; Has power
• Home design: Condominium (attached property); 21 total stories; Entry on level 5; Bayfront view
• Construction: Block construction
• Exterior features: Balcony; Barbecue area; Courtyard; Open patio

Interior

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

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $821 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $210k).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 2.6% 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: schools A+, health & safety A+, amenities 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.
• Market conditions: Rents flat; 1870 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,820/mo this rent would consume 68% of the median local household income ($67k/yr) (locally 3106% 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.
• At projected returns (0.5% appreciation + 0.9% rent growth), your $59k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($197k) 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 21% of rent.

Recommended offer $197,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.82% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.76%
• DSCR: 1.75
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 15.5%
• Equity multiple: 1.75×
• Total profit: $44,173
• Equity at exit: $66,569

10-year hold

• IRR: 17.7%
• Equity multiple: 2.89×
• Total profit: $110,985
• 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 →

ZIP-level market 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1870
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $3,820 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$215 /mo · $2,582/yr
• Insurance: −$88
• HOA: −$793
• Vacancy / Maint / Mgmt: −$802
• Net cashflow: $821

Break-even live

Break-even rent $2,781

Max offer price $210,000

Occupancy floor 74%

Sensitivity live

Price	-10% $940	-5% $881	+0% $821	+5% $762	+10% $702
Rent	-10% $519	-5% $670	+0% $821	+5% $972	+10% $1,123
Rate	-1.0pp $927	-0.5pp $875	base $821	+0.5pp $767	+1.0pp $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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $793 · $9,516/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $210,000 Active 67 DOM
2. 2026-06-17
   days on market $210,000 Active 66 DOM
3. 2026-06-16
   days on market $210,000 Active 65 DOM
4. 2026-06-15
   days on market $210,000 Active 64 DOM
5. 2026-06-13
   days on market $210,000 Active 62 DOM
6. 2026-06-09
   days on market $210,000 Active 58 DOM
7. 2026-06-08
   days on market $210,000 Active 57 DOM
8. 2026-06-07
   days on market $210,000 Active 56 DOM
9. 2026-06-04
   days on market $210,000 Active 53 DOM
10. 2026-06-03
    days on market $210,000 Active 52 DOM
11. 2026-06-02
    days on market $210,000 Active 51 DOM
12. 2026-06-01
    days on market $210,000 Active 50 DOM
13. 2026-05-31
    days on market $210,000 Active 49 DOM
14. 2026-04-12
    listed $210,000 Active
15. 2025-05-27
    historical
16. 2024-06-18
    status Active
17. 2024-06-18
    status Active
18. 2024-05-28
    listed $280,000 Active
19. 2021-11-02
    soldstatus $170,000
20. 2021-10-19
    soldstatus $170,000 Closed 221-char remark

    Show marketing remark (221 chars)

    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,

21. 2021-09-09
    status Pending 221-char remark

    Show marketing remark (221 chars)

    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,

22. 2021-09-01
    status Active 221-char remark

    Show marketing remark (221 chars)

    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,

23. 2021-06-07
    status Pending 221-char remark

    Show marketing remark (221 chars)

    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,

24. 2021-05-12
    price $179,000 221-char remark

    Show marketing remark (221 chars)

    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,

25. 2021-03-11
    listed $184,000 Active 221-char remark

    Show marketing remark (221 chars)

    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,

26. 2008-04-01
    soldstatus $185,000
27. 2008-03-31
    soldstatus $185,000
28. 2002-05-09
    soldstatus $120,000
29. 2000-07-18
    soldstatus $75,000
30. 1993-02-09
    soldstatus $85,000

ⓘ 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: $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: $45,846
• − Mortgage interest: −$11,763
• − Property taxes: −$2,582
• − Insurance: −$1,050
• − Repairs & maintenance: −$3,668
• − Management: −$3,668
• − HOA: −$9,516
• − Depreciation: −$6,109
• Taxable income: $7,490
• Est. tax owed @ 24.0%: −$1,798
• After-tax cash flow: $8,057/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 — 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 · 2,697,751 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: 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 0.59)
• 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%

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

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

+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.