18151 NE 31st Ct #205 · Aventura, FL 33160

$196,000

1 bd · 1.0 ba · 918 sqft · Condo public records · 128 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

Priced to sell fast! Very spacious and bright 1 bedroom unit located on the desirable south side of Aventura overlooking the lake and Williams Island Blvd. This move in ready residence features an open layout and a beautifully remodeled kitchen with gorgeous quartz countertops and stainless steel appliances overlooking the dining and living areas. Enjoy living in a gated and secure building with resort style amenities including 24 hour valet and attended lobby, heated waterfront pool, fitness center, billiard room, library, party room, and more. Conveniently located near parks, pedestrian walkways, shopping, and dining. Excellent opportunity to own in the heart of Aventura. Schedule your s

Key facts

• Remodeled kitchen
• $793 HOA
• Parking

Tags

• REMODELED KITCHEN
• GORGEOUS QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• GATED AND SECURE BUILDING
• RESORT STYLE AMENITIES
• HEATED WATERFRONT POOL

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association fee includes management, amenities, parking, sewer, security, and water; Association amenities include fitness center, laundry, and elevator(s)

Exterior

• Parking: One parking space
• Security: Doorman; Secured lobby
• Utilities: Cable available
• Home design: Condominium building; 20 total stories; Entry on level 2; Attached property; Waterfront: lagoon
• Construction: Block construction; Resale property
• Exterior features: Balcony (open)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Entry on level 2
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished; Walk-in closet(s); Elevator access
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $196k.

Deal economics

• At list price, monthly cash flow is $852 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $196k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; 1878 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 $2k 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 $55k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 11y ago; this cycle's ask is 10789% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $172,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.95% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.62%
• DSCR: 1.83
• GRM: 4.3

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: 17.4%
• Equity multiple: 1.84×
• Total profit: $46,216
• Equity at exit: $62,131

10-year hold

• IRR: 19.4%
• Equity multiple: 3.06×
• Total profit: $113,188
• Equity at exit: $78,987

Cash invested: $54,880 (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: 1878
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $3,820 medium
• Mortgage (P&I): −$1,028
• Tax from tax record: −$264 /mo · $3,167/yr
• Insurance: −$82
• HOA: −$793
• Vacancy / Maint / Mgmt: −$802
• Net cashflow: $852

Break-even live

Break-even rent $2,742

Max offer price $196,000

Occupancy floor 73%

Sensitivity live

Price	-10% $963	-5% $907	+0% $852	+5% $796	+10% $741
Rent	-10% $550	-5% $701	+0% $852	+5% $1,003	+10% $1,154
Rate	-1.0pp $950	-0.5pp $902	base $852	+0.5pp $801	+1.0pp $749

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: $49,000
• Closing costs: $5,880
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 50 events

1. 2026-06-21
   days on market $196,000 Active 128 DOM
2. 2026-06-18
   days on market $196,000 Active 125 DOM
3. 2026-06-17
   days on market $196,000 Active 124 DOM
4. 2026-06-16
   days on market $196,000 Active 123 DOM
5. 2026-06-15
   days on market $196,000 Active 122 DOM
6. 2026-06-13
   days on market $196,000 Active 120 DOM
7. 2026-06-09
   days on market $196,000 Active 116 DOM
8. 2026-06-08
   days on market $196,000 Active 115 DOM
9. 2026-06-07
   days on market $196,000 Active 114 DOM
10. 2026-06-04
    days on market $196,000 Active 111 DOM
11. 2026-06-03
    days on market $196,000 Active 110 DOM
12. 2026-06-02
    days on market $196,000 Active 109 DOM
13. 2026-06-01
    days on market $196,000 Active 108 DOM
14. 2026-05-31
    days on market $196,000 Active 107 DOM
15. 2026-05-01
    price $196,000
16. 2026-04-16
    listed $1,800
17. 2026-03-05
    price $199,000
18. 2026-02-13
    listed $205,000 Active
19. 2026-01-31
    historical
20. 2025-12-18
    price $209,000
21. 2025-12-10
    historical $1,800
22. 2025-12-03
    price $1,800
23. 2025-10-30
    listed $1,900
24. 2025-10-15
    price $220,000
25. 2025-07-18
    price $225,000
26. 2025-06-04
    listed $230,000 Active
27. 2025-05-31
    historical
28. 2025-05-07
    price $235,000
29. 2025-04-08
    price $240,000
30. 2024-12-13
    historical $1,800
31. 2024-12-12
    listed $1,800
32. 2024-12-05
    historical $1,800
33. 2024-11-14
    listed $245,000 Active
34. 2024-11-02
    listed $1,800
35. 2024-08-29
    historical $1,700
36. 2024-08-24
    listed $1,700
37. 2024-08-15
    historical $2,000
38. 2024-08-10
    listed $2,000
39. 2024-07-17
    historical $2,200
40. 2024-07-05
    price $2,200
41. 2024-07-03
    listed $2,450
42. 2023-12-16
    historical $2,300
43. 2023-10-17
    price $2,300
44. 2023-09-07
    listed $2,450
45. 2022-09-21
    soldstatus $190,000
46. 2022-09-20
    soldstatus $190,000 Closed
47. 2022-09-18
    status Pending
48. 2022-08-18
    historical Active Under Contract
49. 2022-08-10
    listed $189,900 Active
50. 2018-04-11
    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: $3,167 · $264/mo
• Projected year-2 tax: $3,167 · $264/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: −$10,979
• − Property taxes: −$3,167
• − Insurance: −$980
• − Repairs & maintenance: −$3,668
• − Management: −$3,668
• − HOA: −$9,516
• − Depreciation: −$5,702
• Taxable income: $8,166
• Est. tax owed @ 24.0%: −$1,960
• After-tax cash flow: $8,261/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

+148.1% since first listed

51 events — show timeline

• 2026-05-01 Price Changed $196,000 MARMLS
• 2026-04-16 Listed for Rent $1,800 MARMLS
• 2026-03-05 Price Changed $199,000 MARMLS
• 2026-02-13 Listed $205,000 MARMLS
• 2026-01-31 Listing Removed — MARMLS
• 2025-12-18 Price Changed $209,000 MARMLS
• 2025-12-10 Rental Removed $1,800 MARMLS
• 2025-12-03 Price Changed $1,800 MARMLS
• 2025-10-30 Listed for Rent $1,900 MARMLS
• 2025-10-15 Price Changed $220,000 MARMLS
• 2025-07-18 Price Changed $225,000 MARMLS
• 2025-06-04 Listed $230,000 MARMLS
• 2025-05-31 Listing Removed — MARMLS
• 2025-05-07 Price Changed $235,000 MARMLS
• 2025-04-08 Price Changed $240,000 MARMLS
• 2024-12-13 Rental Removed $1,800 MARMLS
• 2024-12-12 Listed for Rent $1,800 MARMLS
• 2024-12-05 Rental Removed $1,800 MARMLS
• 2024-11-14 Listed $245,000 MARMLS
• 2024-11-02 Listed for Rent $1,800 MARMLS
• 2024-08-29 Rental Removed $1,700 MARMLS
• 2024-08-24 Listed for Rent $1,700 MARMLS
• 2024-08-15 Rental Removed $2,000 MARMLS
• 2024-08-10 Listed for Rent $2,000 MARMLS
• 2024-07-17 Rental Removed $2,200 MARMLS
• 2024-07-05 Price Changed $2,200 MARMLS
• 2024-07-03 Listed for Rent $2,450 MARMLS
• 2023-12-16 Rental Removed $2,300 MARMLS
• 2023-10-17 Price Changed $2,300 MARMLS
• 2023-09-07 Listed for Rent $2,450 MARMLS
• 2022-09-21 Sold (Public Records) $190,000 Public Records
• 2022-09-20 Sold (MLS) $190,000 MARMLS
• 2022-09-18 Pending — MARMLS
• 2022-08-18 Contingent — MARMLS
• 2022-08-10 Listed $189,900 MARMLS
• 2018-04-11 Listing Removed — MARMLS
• 2017-04-13 Listed $200,000 MARMLS
• 2016-05-03 Listing Removed — MARMLS
• 2016-03-10 Price Changed $198,000 MARMLS
• 2015-12-01 Listed $213,999 MARMLS
• 2015-11-28 Listing Removed — MARMLS
• 2015-07-02 Listed $214,000 MARMLS
• 2015-06-24 Listing Removed — MARMLS
• 2015-05-27 Price Changed $214,000 MARMLS
• 2015-04-24 Listed $224,900 MARMLS
• 2004-05-15 Sold (Public Records) $155,000 Public Records
• 2003-07-07 Sold (Public Records) $129,000 Public Records
• 2002-01-31 Sold (Public Records) $72,000 Public Records
• 1996-11-01 Sold (Public Records) $74,800 Public Records
• 1995-05-23 Sold (Public Records) $89,000 Public Records
• 1993-04-01 Sold (Public Records) $79,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $3,167 · -2.8% YoY. Source: county tax records.