18900 NE 3rd Ct #510 · Ives Estates, FL 33179

$130,000

1 bd · 1.0 ba · 850 sqft · Condo public records · 149 Days on market

Built 1968 $483/mo HOA · 15% 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
• 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 MLS

Lovely, serene lakefront one bedroom one bathroom condo in the Star Lakes section of Miami. Look out onto the lake from your living room. This condo has great closet space and an ample bedroom, bathroom and kitchen. Conveniently located near I-95, the turnpike and 441, restaurants, shopping centers and houses of worship. 55+ community.

Key facts

• Lakefront
• Functional kitchen
• Lake views

Tags

• LAKEFRONT
• LAKE VIEWS
• AMPLE CLOSET SPACE
• FUNCTIONAL KITCHEN
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association amenities include clubhouse and pool

Exterior

• Parking: One parking space
• Utilities: Has cooling
• Home design: Attached property; 4-story building; First-floor entry
• Construction: Block construction; Resale property
• Exterior features: Lakefront waterfront; Association pool

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom located on main level
• Flooring: Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window cooling unit(s)
• Interior features: Bedroom on main level; First floor entry; Handicap access

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $701 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

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-, 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.
• Zoned schools: Hibiscus Elementary School (math 20% / reading 32%, grade F, #2,015 of 2,144 statewide, top 94%, 403 students, 74% FRL); Andover Middle School (math 16% / reading 33%, grade F, #522 of 571 statewide, top 93%, 452 students, 71% FRL); Miami Norland Senior High School (math 16% / reading 29%, grade F, #539 of 667 statewide, top 81%, 1,580 students, 70% FRL).
• Zoned-school proficiency averages 24% at this address vs 50% district-wide (-25 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 573 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $90k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 2.40% ✓
• Cap rate: 16.70%
• Cash-on-cash: 37.17%
• DSCR: 2.65
• GRM: 3.5

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: 11.4%
• Equity multiple: 1.43×
• Total profit: $15,665
• Equity at exit: $19,383

10-year hold

• IRR: 16.8%
• Equity multiple: 2.11×
• Total profit: $40,497
• Equity at exit: $11,240

Cash invested: $36,400 (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: 573
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $3,124 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$121 /mo · $1,455/yr
• Insurance: −$54
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$483
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $701

Break-even live

Break-even rent $2,236

Max offer price $130,000

Occupancy floor 73%

Sensitivity live

Price	-10% $775	-5% $738	+0% $701	+5% $664	+10% $627
Rent	-10% $454	-5% $578	+0% $701	+5% $824	+10% $948
Rate	-1.0pp $767	-0.5pp $734	base $701	+0.5pp $667	+1.0pp $633

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $483 · $5,796/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-21
   days on market $130,000 Active 149 DOM
2. 2026-06-18
   days on market $130,000 Active 146 DOM
3. 2026-06-17
   days on market $130,000 Active 145 DOM
4. 2026-06-16
   days on market $130,000 Active 144 DOM
5. 2026-06-15
   days on market $130,000 Active 143 DOM
6. 2026-06-13
   days on market $130,000 Active 141 DOM
7. 2026-06-09
   days on market $130,000 Active 137 DOM
8. 2026-06-08
   days on market $130,000 Active 136 DOM
9. 2026-06-07
   days on market $130,000 Active 135 DOM
10. 2026-06-04
    days on market $130,000 Active 132 DOM
11. 2026-06-03
    days on market $130,000 Active 131 DOM
12. 2026-06-02
    days on market $130,000 Active 130 DOM
13. 2026-06-01
    days on market $130,000 Active 129 DOM
14. 2026-05-31
    days on market $130,000 Active 128 DOM
15. 2026-01-23
    listed $130,000 Active
16. 2025-10-29
    historical $1,600
17. 2025-08-14
    listed $1,600
18. 2025-07-30
    historical $1,600
19. 2025-06-18
    price $1,600
20. 2025-04-05
    price $1,620
21. 2025-02-28
    listed $1,650
22. 2025-01-31
    historical $1,650
23. 2025-01-31
    listed $1,650
24. 2023-06-16
    soldstatus $90,000
25. 2023-05-22
    soldstatus $90,000 Closed 337-char remark

    Show marketing remark (337 chars)

    Lovely, serene lakefront one bedroom one bathroom condo in the Star Lakes section of Miami. Look out onto the lake from your living room. This condo has great closet space and an ample bedroom, bathroom and kitchen. Conveniently located near I-95, the turnpike and 441, restaurants, shopping centers and houses of worship. 55+ community.

26. 2023-04-05
    status Pending 337-char remark

    Show marketing remark (337 chars)

    Lovely, serene lakefront one bedroom one bathroom condo in the Star Lakes section of Miami. Look out onto the lake from your living room. This condo has great closet space and an ample bedroom, bathroom and kitchen. Conveniently located near I-95, the turnpike and 441, restaurants, shopping centers and houses of worship. 55+ community.

27. 2023-03-24
    price $95,000 337-char remark

    Show marketing remark (337 chars)

    Lovely, serene lakefront one bedroom one bathroom condo in the Star Lakes section of Miami. Look out onto the lake from your living room. This condo has great closet space and an ample bedroom, bathroom and kitchen. Conveniently located near I-95, the turnpike and 441, restaurants, shopping centers and houses of worship. 55+ community.

28. 2023-03-06
    listed $110,000 Active 337-char remark

    Show marketing remark (337 chars)

    Lovely, serene lakefront one bedroom one bathroom condo in the Star Lakes section of Miami. Look out onto the lake from your living room. This condo has great closet space and an ample bedroom, bathroom and kitchen. Conveniently located near I-95, the turnpike and 441, restaurants, shopping centers and houses of worship. 55+ community.

29. 2007-09-04
    soldstatus $76,500
30. 1998-09-01
    soldstatus $21,000
31. 1993-10-06
    soldstatus $18,000

ⓘ 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: $1,455 · $121/mo
• Projected year-2 tax: $1,455 · $121/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 5/10 Major FEMA zone AE · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 5 d/yr ≥105°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,485
• − Mortgage interest: −$7,282
• − Property taxes: −$1,455
• − Insurance: −$5,768
• − Repairs & maintenance: −$2,999
• − Management: −$2,999
• − HOA: −$5,796
• − Depreciation: −$3,782
• Taxable income: $7,404
• Est. tax owed @ 24.0%: −$1,777
• After-tax cash flow: $6,636/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

• 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

+622.2% since first listed

17 events — show timeline

• 2026-01-23 Listed $130,000 MARMLS
• 2025-10-29 Rental Removed $1,600 MARMLS
• 2025-08-14 Listed for Rent $1,600 MARMLS
• 2025-07-30 Rental Removed $1,600 MARMLS
• 2025-06-18 Price Changed $1,600 MARMLS
• 2025-04-05 Price Changed $1,620 MARMLS
• 2025-02-28 Listed for Rent $1,650 MARMLS
• 2025-01-31 Rental Removed $1,650 MARMLS
• 2025-01-31 Listed for Rent $1,650 MARMLS
• 2023-06-16 Sold (Public Records) $90,000 Public Records
• 2023-05-22 Sold (MLS) $90,000 MARMLS
• 2023-04-05 Pending — MARMLS
• 2023-03-24 Price Changed $95,000 MARMLS
• 2023-03-06 Listed $110,000 MARMLS
• 2007-09-04 Sold (Public Records) $76,500 Public Records
• 1998-09-01 Sold (Public Records) $21,000 Public Records
• 1993-10-06 Sold (Public Records) $18,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $1,455 · -0.1% YoY. Source: county tax records.