11840 NE 19th Dr #9 · North Miami, FL 33181

$238,500

2 bd · 2.0 ba · 1,464 sqft · Condo public records · 159 Days on market

Built 1963 $763/mo HOA · 20% of rent

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Why this score? — see what drove the C+ 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 +25.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Your opportunity to live in The largest 2 Bedroom 2 Bath Garden Corner Unit in the Building!Spacious and well-laid-out corner residence offering tranquil garden views and private entrance. This is the biggest 2/2 model in the community, featuring ceramic/tile flooring throughout, generously sized split floor plan bedrooms, and ample closet space with 3 walk in closets & more. The unit is located in a well-maintained building with relaxing pool. Park your car right outside your door (assigned parking) with guest parking available. New roof, freshly painted outside, updated pool. Centrally located near Biscayne Blvd, US-1, Aventura Mall, Bal Harbour, beaches, parks, shopping, dining, a

Key facts

• Split floor plan
• Ample closet space
• Private entrance

Tags

• PRIVATE ENTRANCE
• CERAMIC TILE FLOORING
• SPLIT FLOOR PLAN
• AMPLE CLOSET SPACE
• WALK IN CLOSETS
• RELAXING POOL

Property features AI

Finance

• Other: Association-managed pool
• Financial info: Pets allowed with restrictions or possible restrictions
• HOA & community: Monthly association fee; Association fee covers management, parking, pool(s), trash and water; Community amenities: clubhouse, pool

Exterior

• Parking: 1 covered garage space; Open parking available (1 space)
• Security: Closed circuit camera(s); Complex fenced; Smoke detector(s)
• Utilities: Cable available
• Home design: 3 stories; Attached property; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Balcony; Patio; Open patio/balcony

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Breakfast area; Family/Dining room; First floor entry; Living/Dining room; Pantry; Split bedrooms; Walk-in closet(s)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $238k.

Deal economics

• At list price, monthly cash flow is $100 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $238k).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 4.1% in North Miami — 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, employment D.
• 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 soft (-0.1%/yr); 335 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).
• At $3,787/mo this rent would consume 72% of the median local household income ($63k/yr) (locally 1914% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• It's been on market 159 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $238k implies a 151% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 20% of rent.
• 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 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 1963 — 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. 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.
10. 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.
11. 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: 1.59% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.46%
• DSCR: 1.42
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.36×
• Total profit: $-42,558
• Equity at exit: $35,561

10-year hold

• IRR: -30.0%
• Equity multiple: -0.02×
• Total profit: $-68,414
• Equity at exit: $20,621

Cash invested: $66,780 (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 33181

• Rents YoY: -0.1%
• Active inventory: 335
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,787 medium
• Mortgage (P&I): −$1,251
• Tax from tax record: −$352 /mo · $4,223/yr
• Insurance: −$99
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$763
• Vacancy / Maint / Mgmt: −$795
• Net cashflow: $100

Break-even live

Break-even rent $3,660

Max offer price $238,500

Occupancy floor 92%

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: $59,625
• Closing costs: $7,155
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 NE 135th St #904 North Miami, FL	2.0	2.0	963	$23,509	$24.41	15d	1	0.94mi
2020 NE 135th St North Miami, FL	2.0	2.0	963	$23,509	$24.41	13d	1	0.94mi

HOA detail condo

• Monthly dues: $763 · $9,156/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $238,500 Active 159 DOM
2. 2026-06-17
   days on market $238,500 Active 158 DOM
3. 2026-06-16
   days on market $238,500 Active 157 DOM
4. 2026-06-15
   days on market $238,500 Active 156 DOM
5. 2026-06-13
   days on market $238,500 Active 154 DOM
6. 2026-06-09
   days on market $238,500 Active 150 DOM
7. 2026-06-08
   days on market $238,500 Active 149 DOM
8. 2026-06-07
   days on market $238,500 Active 148 DOM
9. 2026-06-04
   days on market $238,500 Active 145 DOM
10. 2026-06-03
    days on market $238,500 Active 144 DOM
11. 2026-06-02
    days on market $238,500 Active 143 DOM
12. 2026-06-01
    days on market $238,500 Active 142 DOM
13. 2026-05-31
    days on market $238,500 Active 141 DOM
14. 2026-04-03
    price $238,500
15. 2026-03-18
    price $248,500
16. 2026-03-06
    price $249,000
17. 2026-02-01
    price $259,000
18. 2026-01-10
    listed $269,000 Active
19. 2025-12-10
    historical
20. 2025-11-13
    price $289,000
21. 2025-10-24
    listed $299,999 Active
22. 2019-11-29
    historical
23. 2019-09-24
    price $151,500
24. 2019-08-14
    price $152,000
25. 2019-07-11
    price $153,000
26. 2019-01-30
    price $158,000
27. 2018-11-07
    price $162,000
28. 2018-08-27
    price $160,000
29. 2018-08-05
    price $175,000
30. 2018-06-20
    price $178,000
31. 2018-06-08
    listed $190,000 Active
32. 2012-10-15
    soldstatus $95,000
33. 2006-02-09
    soldstatus $240,000

ⓘ 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: $4,223 · $352/mo
• Projected year-2 tax: $4,223 · $352/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 · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 30 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: $45,441
• − Mortgage interest: −$13,360
• − Property taxes: −$4,223
• − Insurance: −$6,311
• − Repairs & maintenance: −$3,635
• − Management: −$3,635
• − HOA: −$9,156
• − Depreciation: −$6,938
• Taxable loss: −$1,818
• Est. tax savings @ 24.0%: +$436
• After-tax cash flow: $1,636/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 — North Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,848
• Household income: $63,275
• Rent vs Own: 62.4% rent · 37.6% own
• Severe rent burden: 1914.0

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: Hispanic / Latino 44% Black 29% Two or more races 23% White 22% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 8% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 18% Lithuanian 3% Italian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 28% English-only · Spanish 44% French/Haitian/Cajun 18% Other Indo-European 4%

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: ▼ -334.57%
• Current HPI: 341.3285
• Rent YoY: ▼ -0.11%
• 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

-0.6% since first listed

20 events — show timeline

• 2026-04-03 Price Changed $238,500 MARMLS
• 2026-03-18 Price Changed $248,500 MARMLS
• 2026-03-06 Price Changed $249,000 MARMLS
• 2026-02-01 Price Changed $259,000 MARMLS
• 2026-01-10 Listed $269,000 MARMLS
• 2025-12-10 Listing Removed — MARMLS
• 2025-11-13 Price Changed $289,000 MARMLS
• 2025-10-24 Listed $299,999 MARMLS
• 2019-11-29 Listing Removed — MARMLS
• 2019-09-24 Price Changed $151,500 MARMLS
• 2019-08-14 Price Changed $152,000 MARMLS
• 2019-07-11 Price Changed $153,000 MARMLS
• 2019-01-30 Price Changed $158,000 MARMLS
• 2018-11-07 Price Changed $162,000 MARMLS
• 2018-08-27 Price Changed $160,000 MARMLS
• 2018-08-05 Price Changed $175,000 MARMLS
• 2018-06-20 Price Changed $178,000 MARMLS
• 2018-06-08 Listed $190,000 MARMLS
• 2012-10-15 Sold (Public Records) $95,000 Public Records
• 2006-02-09 Sold (Public Records) $240,000 Public Records

Property tax history

+10.5%/yr

Latest (2025): $4,223 · +9.3% YoY. Source: county tax records.