121 NE 34th St #1203 · Miami, FL 33137

$519,000

1 bd · 1.0 ba · 673 sqft · Condo public records · 192 Days on market

Built 2018

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Why this score? — see what drove the F 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 +7.5/15.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Cash flow +3.0/30.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Stunning 1 bedroom apartment in Hyde Midtown. The building is pretty new and the amenities are amazing! Huge pool, Spa, fitness center, game room, business center, kids room, theater room. .. . 1 Parking thru valet is included. The 1 bedroom 1 bathroom plus den apartment has been tastefully furnished and is completely equipped. Wood porcelain floor all over, Italian style full kitchen with stainless steel appliances, washer and dryer.

Key facts

• Business center
• Fitness center
• Theater room

Tags

• HUGE POOL
• SPA
• FITNESS CENTER
• GAME ROOM
• BUSINESS CENTER
• THEATER ROOM

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee (includes association management, amenities, cable TV, hot water, internet, grounds and structure maintenance, parking, pool(s), recreation facilities, sewer, security, trash, water); Association offers billiard room, bike storage, business center, cabana, clubhouse, fitness center, playground, pool, spa/hot tub, tennis court(s), trash service, elevators

Exterior

• Parking: Attached covered garage; Garage with door opener; Valet parking available; 1 garage space
• Security: Closed-circuit cameras; Secured elevator; Fire alarm; Secured garage/parking; Secured lobby; Security guard; Smoke detectors
• Utilities: Cable available; Association provides hot water, water, sewer, trash, internet
• Home design: Condominium/high-rise; 31 total stories; Entry on level 12; Has a view
• Construction: Block construction; Effective year built
• Exterior features: Balcony; Open balcony/patio; Tennis court(s); Association pool (heated)

Interior

• Kitchen: Built-in oven; Self-cleaning oven; Electric range; Microwave; Dishwasher; Disposal; Icemaker; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Furnished; Built-in features; Dual sinks; First-floor entry; Living/dining room; Tub with shower; Walk-in closet(s); Elevator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $519k.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $427k (17.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $388k (25.2% below list).
• Recommended offer: $388k (25.2% below list) — sets the bar for 1% rule.
• Cap rate 2.4% vs local median 1.9% in Miami — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, 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 rising (+2.7%/yr); 757 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,883/mo this rent would consume 50% of the median local household income ($94k/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 $5k of equity ($4k loan paydown + $1k appreciation (0.3% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($457k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask is 14729% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $388,266 (25.2% 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 192 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
8. Crime grade is F 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?
9. 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?
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: 0.75% ✗
• Cap rate: 2.42%
• Cash-on-cash: -13.83%
• DSCR: 0.38
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.21×
• Total profit: $-115,447
• Equity at exit: $157,796

10-year hold

• IRR: -10.3%
• Equity multiple: -0.12×
• Total profit: $-163,320
• Equity at exit: $195,436

Cash invested: $145,320 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 757
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,883 medium
• Mortgage (P&I): −$2,722
• Tax from tax record: −$653 /mo · $7,834/yr
• Insurance: −$216
• HOA est. from 9 same-building comps: −$1,151
• Vacancy / Maint / Mgmt: −$815
• Net cashflow: $-1,675

Break-even live

Break-even rent $6,002

Max offer price $223,192

Occupancy floor —

Sensitivity live

Price	-10% $-1,381	-5% $-1,528	+0% $-1,675	+5% $-1,821	+10% $-1,968
Rent	-10% $-1,981	-5% $-1,828	+0% $-1,675	+5% $-1,521	+10% $-1,368
Rate	-1.0pp $-1,413	-0.5pp $-1,543	base $-1,675	+0.5pp $-1,809	+1.0pp $-1,946

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: $129,750
• Closing costs: $15,570
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$8,110	$6.44	3d	13	0.28mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $519,000 Active 192 DOM
2. 2026-06-18
   days on market $519,000 Active 189 DOM
3. 2026-06-17
   days on market $519,000 Active 188 DOM
4. 2026-06-16
   days on market $519,000 Active 187 DOM
5. 2026-06-15
   days on market $519,000 Active 186 DOM
6. 2026-06-13
   days on market $519,000 Active 184 DOM
7. 2026-06-09
   days on market $519,000 Active 180 DOM
8. 2026-06-08
   days on market $519,000 Active 179 DOM
9. 2026-06-07
   days on market $519,000 Active 178 DOM
10. 2026-06-04
    days on market $519,000 Active 175 DOM
11. 2026-06-03
    days on market $519,000 Active 174 DOM
12. 2026-06-02
    days on market $519,000 Active 173 DOM
13. 2026-06-01
    days on market $519,000 Active 172 DOM
14. 2026-05-31
    days on market $519,000 Active 171 DOM
15. 2026-03-14
    historical $3,500
16. 2026-02-10
    listed $3,500
17. 2025-12-11
    listed $519,000 Active
18. 2024-09-04
    historical $3,700
19. 2024-07-03
    listed $4,000
20. 2018-03-05
    soldstatus $465,900

ⓘ 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: $7,834 · $653/mo
• Projected year-2 tax: $7,834 · $653/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥103°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,592
• − Mortgage interest: −$29,072
• − Property taxes: −$7,834
• − Insurance: −$2,595
• − Repairs & maintenance: −$3,727
• − Management: −$3,727
• − HOA: −$13,812
• − Depreciation: −$15,098
• Taxable loss: −$29,274
• Est. tax savings @ 24.0%: +$7,026
• After-tax cash flow: $-13,068/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 — Miami

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% 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 0.63)
• Race & ethnicity: Hispanic / Latino 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% 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: ▲ 0.27%
• Current HPI: 385.1514
• Rent YoY: ▲ 2.73%
• 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

-99.2% since first listed

6 events — show timeline

• 2026-03-14 Rental Removed $3,500 MARMLS
• 2026-02-10 Listed for Rent $3,500 MARMLS
• 2025-12-11 Listed $519,000 MARMLS
• 2024-09-04 Rental Removed $3,700 MARMLS
• 2024-07-03 Listed for Rent $4,000 MARMLS
• 2018-03-05 Sold (Public Records) $465,900 Public Records

Property tax history

+48.6%/yr

Latest (2025): $7,834 · -2.4% YoY. Source: county tax records.