2903 Point East Dr Unit K207 · Aventura, FL 33160

$170,900

1 bd · 1.0 ba · 777 sqft · Condo public records · 114 Days on market

Built 1967 $549/mo HOA · 17% 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 MLS

Looking for a great deal? Here it is. This is a great unit that needs some TLC. Ideal location in the heart of Aventura. Walking distance to many shops and house of worship. The unit features large walk in closets. Nice view and great location on the water. Launch area for kayaks. Lots of outdoor activities. Owners have not lived in the property and there is no seller disclosure. This is an as-is whereas sale. Buyer's must perform their own due diligence.

Key facts

• New water heater
• Billiard room
• New appliances

Tags

• UPDATED KITCHEN
• NEW APPLIANCES
• NEW WATER HEATER
• GUARDED GATE SECURITY
• MULTIPLE POOL
• BILLIARD ROOM

Property features AI

Finance

• Other: Association pool; Association-managed amenities and security
• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $549; Association covers cable TV, structure maintenance, pools, recreation facilities, sewer, security, trash and water; Community amenities include billiard room, clubhouse, fitness center, library, pool, transportation service and elevators; Senior community

Exterior

• Parking: One parking space
• Security: Complex fenced; Security guard
• Utilities: Water service included in association; Sewer service included in association; Electric service
• Home design: Attached property; 6-story building; Entry on level 2; Has a view
• Construction: Block construction; Resale property
• Exterior features: Balcony; Screened balcony; Lagoon waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Living/dining room; Tub with shower; Walk-in closet(s)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $171k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $171k).
• Recommended offer: $156k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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; 1870 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,221/mo this rent would consume 58% 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 + $900 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 $48k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($156k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; 31% 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 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,519 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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 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?
9. 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?
10. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
11. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
12. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
13. 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.
14. 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.
15. 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: 1.88% ✓
• Cap rate: 12.13%
• Cash-on-cash: 20.83%
• DSCR: 1.93
• GRM: 4.4

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: 8.3%
• Equity multiple: 1.40×
• Total profit: $19,113
• Equity at exit: $54,174

10-year hold

• IRR: 10.6%
• Equity multiple: 2.13×
• Total profit: $53,984
• Equity at exit: $68,872

Cash invested: $47,852 (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: 1870
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $3,221 medium
• Mortgage (P&I): −$896
• Tax from tax record: −$198 /mo · $2,374/yr
• Insurance: −$71
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$549
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $404

Break-even live

Break-even rent $2,710

Max offer price $170,900

Occupancy floor 82%

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: $42,725
• Closing costs: $5,127
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $549 · $6,588/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-18
   days on market $170,900 Active 114 DOM
2. 2026-06-17
   days on market $170,900 Active 113 DOM
3. 2026-06-16
   days on market $170,900 Active 112 DOM
4. 2026-06-15
   days on market $170,900 Active 111 DOM
5. 2026-06-13
   days on market $170,900 Active 109 DOM
6. 2026-06-09
   days on market $170,900 Active 105 DOM
7. 2026-06-08
   days on market $170,900 Active 104 DOM
8. 2026-06-07
   days on market $170,900 Active 103 DOM
9. 2026-06-04
   days on market $170,900 Active 100 DOM
10. 2026-06-03
    days on market $170,900 Active 99 DOM
11. 2026-06-02
    days on market $170,900 Active 98 DOM
12. 2026-06-02
    price $170,900 Active 97 DOM
13. 2026-06-01
    days on market $175,900 Active 97 DOM
14. 2026-05-31
    days on market $175,900 Active 96 DOM
15. 2026-04-08
    price $175,900
16. 2026-02-24
    listed $185,900 Active
17. 2025-03-27
    soldstatus $130,000
18. 2025-03-03
    soldstatus $130,000 Closed 459-char remark

    Show marketing remark (459 chars)

    Looking for a great deal? Here it is. This is a great unit that needs some TLC. Ideal location in the heart of Aventura. Walking distance to many shops and house of worship. The unit features large walk in closets. Nice view and great location on the water. Launch area for kayaks. Lots of outdoor activities. Owners have not lived in the property and there is no seller disclosure. This is an as-is whereas sale. Buyer's must perform their own due diligence.

19. 2025-01-22
    status Active Under Contract 459-char remark

    Show marketing remark (459 chars)

    Looking for a great deal? Here it is. This is a great unit that needs some TLC. Ideal location in the heart of Aventura. Walking distance to many shops and house of worship. The unit features large walk in closets. Nice view and great location on the water. Launch area for kayaks. Lots of outdoor activities. Owners have not lived in the property and there is no seller disclosure. This is an as-is whereas sale. Buyer's must perform their own due diligence.

20. 2025-01-03
    price $139,000 459-char remark

    Show marketing remark (459 chars)

    Looking for a great deal? Here it is. This is a great unit that needs some TLC. Ideal location in the heart of Aventura. Walking distance to many shops and house of worship. The unit features large walk in closets. Nice view and great location on the water. Launch area for kayaks. Lots of outdoor activities. Owners have not lived in the property and there is no seller disclosure. This is an as-is whereas sale. Buyer's must perform their own due diligence.

21. 2024-10-05
    status Active 459-char remark

    Show marketing remark (459 chars)

    Looking for a great deal? Here it is. This is a great unit that needs some TLC. Ideal location in the heart of Aventura. Walking distance to many shops and house of worship. The unit features large walk in closets. Nice view and great location on the water. Launch area for kayaks. Lots of outdoor activities. Owners have not lived in the property and there is no seller disclosure. This is an as-is whereas sale. Buyer's must perform their own due diligence.

22. 2024-10-02
    historical Active Under Contract 459-char remark

    Show marketing remark (459 chars)

    Looking for a great deal? Here it is. This is a great unit that needs some TLC. Ideal location in the heart of Aventura. Walking distance to many shops and house of worship. The unit features large walk in closets. Nice view and great location on the water. Launch area for kayaks. Lots of outdoor activities. Owners have not lived in the property and there is no seller disclosure. This is an as-is whereas sale. Buyer's must perform their own due diligence.

23. 2024-09-30
    price $145,000 459-char remark

    Show marketing remark (459 chars)

    Looking for a great deal? Here it is. This is a great unit that needs some TLC. Ideal location in the heart of Aventura. Walking distance to many shops and house of worship. The unit features large walk in closets. Nice view and great location on the water. Launch area for kayaks. Lots of outdoor activities. Owners have not lived in the property and there is no seller disclosure. This is an as-is whereas sale. Buyer's must perform their own due diligence.

24. 2024-09-13
    price $149,000 459-char remark

    Show marketing remark (459 chars)

    Looking for a great deal? Here it is. This is a great unit that needs some TLC. Ideal location in the heart of Aventura. Walking distance to many shops and house of worship. The unit features large walk in closets. Nice view and great location on the water. Launch area for kayaks. Lots of outdoor activities. Owners have not lived in the property and there is no seller disclosure. This is an as-is whereas sale. Buyer's must perform their own due diligence.

25. 2024-08-22
    listed $155,000 Active 459-char remark

    Show marketing remark (459 chars)

    Looking for a great deal? Here it is. This is a great unit that needs some TLC. Ideal location in the heart of Aventura. Walking distance to many shops and house of worship. The unit features large walk in closets. Nice view and great location on the water. Launch area for kayaks. Lots of outdoor activities. Owners have not lived in the property and there is no seller disclosure. This is an as-is whereas sale. Buyer's must perform their own due diligence.

26. 2024-03-20
    historical
27. 2024-02-12
    status Active
28. 2024-01-29
    listed $160,000 Active
29. 2023-12-04
    historical
30. 2023-12-04
    status Active
31. 2023-10-23
    price $159,900
32. 2023-07-05
    price $174,970
33. 2023-01-10
    price $185,898
34. 2022-11-16
    price $185,000
35. 2022-09-26
    listed $199,900 Active
36. 2004-09-01
    soldstatus $95,000
37. 1993-10-15
    soldstatus $26,500
38. 1991-08-16
    soldstatus $28,000
39. 1991-08-01
    soldstatus $28,000

ⓘ 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: $2,374 · $198/mo
• Projected year-2 tax: $2,374 · $198/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 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 26 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: $38,657
• − Mortgage interest: −$9,573
• − Property taxes: −$2,374
• − Insurance: −$5,973
• − Repairs & maintenance: −$3,093
• − Management: −$3,093
• − HOA: −$6,588
• − Depreciation: −$4,972
• Taxable income: $2,992
• Est. tax owed @ 24.0%: −$718
• After-tax cash flow: $4,131/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

+528.2% since first listed

25 events — show timeline

• 2026-04-08 Price Changed $175,900 MARMLS
• 2026-02-24 Listed $185,900 MARMLS
• 2025-03-27 Sold (Public Records) $130,000 Public Records
• 2025-03-03 Sold (MLS) $130,000 MARMLS
• 2025-01-22 Relisted — MARMLS
• 2025-01-03 Price Changed $139,000 MARMLS
• 2024-10-05 Relisted — MARMLS
• 2024-10-02 Contingent — MARMLS
• 2024-09-30 Price Changed $145,000 MARMLS
• 2024-09-13 Price Changed $149,000 MARMLS
• 2024-08-22 Listed $155,000 MARMLS
• 2024-03-20 Listing Removed — MARMLS
• 2024-02-12 Relisted — MARMLS
• 2024-01-29 Listed $160,000 MARMLS
• 2023-12-04 Listing Removed — MARMLS
• 2023-12-04 Relisted — MARMLS
• 2023-10-23 Price Changed $159,900 MARMLS
• 2023-07-05 Price Changed $174,970 MARMLS
• 2023-01-10 Price Changed $185,898 MARMLS
• 2022-11-16 Price Changed $185,000 MARMLS
• 2022-09-26 Listed $199,900 MARMLS
• 2004-09-01 Sold (Public Records) $95,000 Public Records
• 1993-10-15 Sold (Public Records) $26,500 Public Records
• 1991-08-16 Sold (Public Records) $28,000 Public Records
• 1991-08-01 Sold (Public Records) $28,000 Public Records

Property tax history

+22.5%/yr

Latest (2025): $2,374 · +3.3% YoY. Source: county tax records.