447 NE 195th St #115 · Ives Estates, FL 33179

$100,000

1 bd · 1.0 ba · 588 sqft · Condo public records · 1 Days on market

Built 1971 $517/mo HOA · 29% 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 +25.9/30.0
• 1% rule +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent opportunity to own an affordable condo in a prime location just minutes from Aventura. This bright and comfortable first-floor studio features a full kitchen, spacious living area, and a versatile Murphy bed that maximizes functionality and living space. Enjoy a large screened patio with relaxing pool views that can be enclosed for added comfort and privacy. The condo association includes water and cable, adding exceptional value and convenience. With its flexible layout, this unit can easily be converted into a one-bedroom residence, offering additional privacy and future potential. Perfect as a primary residence, seasonal getaway, or investment opportunity.

Key facts

• Full kitchen
• Pool views
• Spacious living area

Tags

• FULL KITCHEN
• SPACIOUS LIVING AREA
• MURPHY BED
• LARGE SCREENED PATIO
• POOL VIEWS
• FLEXIBLE LAYOUT

Property features AI

Finance

• Other: Annual tax information available
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association amenities include clubhouse, laundry, elevators; Association fee covers cable TV, laundry, structure maintenance, pool(s), and security

Exterior

• Parking: Assigned parking (one space)
• Security: Fire alarm; Smoke detectors
• Utilities: Has heating and cooling (central)
• Home design: Attached property; 4-story building; Entry on level 1
• Construction: Block construction; Effective year built
• Exterior features: Enclosed porch; Screened porch

Interior

• Kitchen: Refrigerator
• Bedrooms: Primary bedroom on the main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Main-level primary bedroom
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 9.2% vs local median 3.6% in Ives Estates — 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 77/100 on livability (#191 in FL, #3,061 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: employment C-, 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; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 10y 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 $42k; list at $100k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.75% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.55%
• DSCR: 1.47
• GRM: 4.7

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: -5.0%
• Equity multiple: 0.82×
• Total profit: $-5,006
• Equity at exit: $14,910

10-year hold

• IRR: -0.9%
• Equity multiple: 0.95×
• Total profit: $-1,487
• Equity at exit: $8,646

Cash invested: $28,000 (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 33179

• Rents YoY: 0.2%
• Active inventory: 572
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,755 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$57 /mo · $685/yr
• Insurance: −$42
• HOA: −$517
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $246

Break-even live

Break-even rent $1,443

Max offer price $100,000

Occupancy floor 81%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5100 SW 41st St Pembroke Park, FL	1.0–2.0	1.0–2.0	815	$1,699	$2.08	19d	3	1.14mi
5100 SW 41st St Pembroke Park, FL	1.0–2.0	1.0–2.0	815	$1,650	$2.02	3d	4	1.14mi

HOA detail condo

• Monthly dues: $517 · $6,204/yr
• Likely covers: watercablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 677-char remark
2. 2026-06-18
   listed $100,000 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: $685 · $57/mo
• Projected year-2 tax: $830 · $69/mo
• Expected delta: +$145/yr (+$12/mo · 21.1%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥105°F today · 21 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: $21,057
• − Mortgage interest: −$5,602
• − Property taxes: −$685
• − Insurance: −$500
• − Repairs & maintenance: −$1,685
• − Management: −$1,685
• − HOA: −$6,204
• − Depreciation: −$2,909
• Taxable income: $1,788
• Est. tax owed @ 24.0%: −$429
• After-tax cash flow: $2,524/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 — Ives Estates

• Score: 77/100
• State rank: #191
• US rank: #3061

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ives Estates, 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

+356.6% since first listed

29 events — show timeline

• 2026-06-17 Listed $100,000 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-12-01 Relisted — MARMLS
• 2025-09-04 Price Changed $115,000 MARMLS
• 2025-08-01 Price Changed $125,000 MARMLS
• 2025-06-26 Listed $130,000 MARMLS
• 2023-10-05 Listing Removed — MARMLS
• 2023-10-05 Relisted — MARMLS
• 2023-06-14 Relisted — MARMLS
• 2023-05-09 Contingent — MARMLS
• 2023-05-04 Listed $89,999 MARMLS
• 2023-05-02 Listing Removed — MARMLS
• 2023-04-28 Listed $130,000 MARMLS
• 2023-04-26 Listing Removed — MARMLS
• 2023-04-23 Relisted — MARMLS
• 2023-03-29 Relisted — MARMLS
• 2023-03-22 Contingent — MARMLS
• 2023-02-14 Price Changed $140,000 MARMLS
• 2022-12-26 Listed $150,000 MARMLS
• 2017-06-28 Sold (Public Records) $41,500 Public Records
• 2017-06-21 Sold (MLS) $41,500 MARMLS
• 2017-05-09 Pending — MARMLS
• 2017-04-19 Listed $57,000 MARMLS
• 2017-04-17 Listing Removed — MARMLS
• 2017-02-01 Price Changed $57,000 MARMLS
• 2016-12-06 Price Changed $62,000 MARMLS
• 2016-10-19 Listed $65,000 MARMLS
• 2003-02-24 Sold (Public Records) $25,000 Public Records
• 1973-10-01 Sold (Public Records) $21,900 Public Records

Property tax history

+2.4%/yr

Latest (2025): $685 · +4.8% YoY. Source: county tax records.