2549 NE 190th St · Ojus, FL 33180

$1,750,000

2 bd · 1.0 ba · 938 sqft · MultiFamily public records · 19 Days on market

Built 1934 0.34 ac lot

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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 +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

14,623 Sq. Ft of land development opportunity in Ojus, UC Center zoning, currently has a 4 existing rental units which should be demolished to allow for development under the new Miami-Dade Zoning Code dated June 4, 2019 which would allow up to 16 units within 2-8 stories. The present zoning, Ojus Center, allows for 60 units per acre. This property is being marketed as a knock down development opportunity, no Sign, no lock boxes.

Key facts

• Close to schools
• Close to restaurants
• Close to retail

Tags

• CLOSE TO SCHOOLS
• CLOSE TO RETAIL
• CLOSE TO RESTAURANTS
• NEW BRIGHTLINE TRAIN STATION
• MINUTES DRIVE TO AVENTURA MALL
• ZONING ALLOWS OVER 40 UNITS

Property features AI

Finance

• Financial info: Gross scheduled income approximately $60,000; Annual property taxes approximately $11,968 (2024)

Exterior

• Utilities: Cable available; Electricity available; Public sewer; Trash collection available; Public water
• Home design: Zoning code: 3161
• Construction: Property located at 2549 NE 190th St, Miami, FL 33180
• Exterior features: Lot is less than one acre; Public maintained road; Lot dimensions approximately 104 x 140

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $1.75M.

Deal economics

• At list price, monthly cash flow is $845 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.49M (14.7% below list).
• Recommended offer: $1.49M (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 8.7% in Ojus — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 soft (-1.5%/yr); 992 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $14,923/mo this rent would consume 197% of the median local household income ($91k/yr) (locally 1838% 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 $12k of loan paydown is wiped out by about $52k 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 19 days — a 2% lower offer ($1.72M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $390k; list at $1.75M implies a 349% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,492,300 (14.7% below list)

Questions for the listing agent

1. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 9.8

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: -16.2%
• Equity multiple: 0.44×
• Total profit: $-274,000
• Equity at exit: $260,931

10-year hold

• IRR: -13.7%
• Equity multiple: 0.31×
• Total profit: $-340,298
• Equity at exit: $151,308

Cash invested: $490,000 (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 33180

• Rents YoY: -1.5%
• Active inventory: 992
• Price-to-rent: 39.1×

Monthly cashflow live

• Estimated rent: $14,923 medium
• Mortgage (P&I): −$9,177
• Tax from tax record: −$1,038 /mo · $12,459/yr
• Insurance: −$729
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,134
• Net cashflow: $845

Break-even live

Break-even rent $13,854

Max offer price $1,750,000

Occupancy floor 89%

Sensitivity live

Price	-10% $1,835	-5% $1,340	+0% $845	+5% $349	+10% $-146
Rent	-10% $-334	-5% $255	+0% $845	+5% $1,434	+10% $2,023
Rate	-1.0pp $1,726	-0.5pp $1,290	base $845	+0.5pp $391	+1.0pp $-70

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	2	$14,924
Total (4 units)			$14,923

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: $437,500
• Closing costs: $52,500
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $1,750,000 Active 19 DOM
2. 2026-06-18
   days on market $1,750,000 Active 16 DOM
3. 2026-06-17
   days on market $1,750,000 Active 15 DOM
4. 2026-06-16
   days on market $1,750,000 Active 14 DOM
5. 2026-06-15
   days on market $1,750,000 Active 13 DOM
6. 2026-06-13
   days on market $1,750,000 Active 11 DOM
7. 2026-06-09
   days on market $1,750,000 Active 7 DOM
8. 2026-06-08
   days on market $1,750,000 Active 6 DOM
9. 2026-06-07
   days on market $1,750,000 Active 5 DOM
10. 2026-06-04
    days on market $1,750,000 Active 2 DOM
11. 2026-06-02
    remarks 596-char remark
12. 2026-06-02
    listed $1,750,000 Active 1 DOM

ⓘ 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: $12,459 · $1,038/mo
• Projected year-2 tax: $14,525 · $1,210/mo
• Expected delta: +$2,066/yr (+$172/mo · 16.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 53% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 28 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: $179,076
• − Mortgage interest: −$98,027
• − Property taxes: −$12,459
• − Insurance: −$8,750
• − Repairs & maintenance: −$14,326
• − Management: −$14,326
• − Depreciation: −$50,909
• Taxable loss: −$19,722
• Est. tax savings @ 24.0%: +$4,733
• After-tax cash flow: $14,868/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): 34,147
• Household income: $91,055
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1838.0

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: White 46% Hispanic / Latino 45% Two or more races 28% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 7% Dominican 1% Salvadoran 6%
• Common ancestry: Scotch-Irish 5% Romanian 5% Italian 3%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 30% English-only · Spanish 49% Other Indo-European 6% Russian/Polish/Slavic 4%

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: ▼ -343.81%
• Current HPI: 234.7715
• Rent YoY: ▼ -1.51%
• 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

+4900.0% since first listed

8 events — show timeline

• 2025-10-28 Listed $1,750,000 MARMLS
• 2021-07-21 Sold (Public Records) $390,000 Public Records
• 2021-05-25 Sold (MLS) $780,000 MARMLS
• 2021-03-15 Listed $780,000 MARMLS
• 2020-05-14 Listing Removed — MARMLS
• 2020-01-10 Listed $780,000 MARMLS
• 1989-04-26 Sold (Public Records) $55,000 Public Records
• 1977-05-01 Sold (Public Records) $35,000 Public Records

Property tax history

+11.9%/yr

Latest (2025): $12,459 · +4.1% YoY. Source: county tax records.