350 NE 24th St #514 · Miami, FL 33137

$340,000

1 bd · 1.0 ba · 679 sqft · Condo public records · 38 Days on market

Built 2008 $812/mo HOA · 21% of rent

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Why this score? — see what drove the D+ 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 +12.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Live in the heart of Edgewater at City24, a boutique modern condo on Biscayne Blvd and 24th Street. This bright 1-bedroom, 1-bath residence features an open layout with floor-to-ceiling impact windows, private balcony, and a modern kitchen with stainless-steel appliances and granite countertops. Enjoy resort-style amenities including a heated pool, fitness center, spa, 24-hour security, and covered parking. Just minutes to Wynwood, Midtown, Design District, and Downtown Miami — the perfect urban lifestyle.

Key facts

• Private balcony
• Resort-style pool
• Jacuzzi

Tags

• PRIVATE BALCONY
• IMPACT WINDOWS
• STAINLESS STEEL APPLIANCES
• IN-UNIT WASHER AND DRYER
• RESORT-STYLE POOL
• JACUZZI

Property features AI

Finance

• Other: Pets allowed with restrictions or conditions
• Financial info: Annual tax information available
• HOA & community: Monthly association fee of $812

Exterior

• Parking: Carport with 1 covered space; One assigned parking space
• Home design: 15-story building; Entry on level 5; Entry located on level 5
• Construction: Block construction; Effective year built
• Exterior features: Property is attached

Interior

• Bathrooms: One full bathroom
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $340k.

Deal economics

• At list price, monthly cash flow is $-502 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (26.1% below list).
• Meets the 1% rule at list price ($4k rent vs $340k).
• Recommended offer: $251k (26.1% below list) — sets the bar for cash-flow.

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.
• Zoned schools: Phyllis Wheatley Elementary School (math 17% / reading 17%, grade F, #2,121 of 2,144 statewide, top 99%, 189 students, 88% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL).
• Zoned-school proficiency averages 18% at this address vs 50% district-wide (-31 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 rising (+2.7%/yr); 758 active listings in the ZIP; 2 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).

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $924 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 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $190k; list at $340k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $251,311 (26.1% 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 38 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
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. 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: 1.15% ✓
• Cap rate: 6.03%
• Cash-on-cash: -0.95%
• DSCR: 0.96
• GRM: 7.3

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: -8.3%
• Equity multiple: 0.60×
• Total profit: $-37,791
• Equity at exit: $103,373

10-year hold

• IRR: -2.4%
• Equity multiple: 0.73×
• Total profit: $-25,471
• Equity at exit: $128,031

Cash invested: $95,200 (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: 758
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $3,908 medium
• Mortgage (P&I): −$1,783
• Tax from tax record: −$426 /mo · $5,114/yr
• Insurance: −$142
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$812
• Vacancy / Maint / Mgmt: −$821
• Net cashflow: $-502

Break-even live

Break-even rent $4,543

Max offer price $251,311

Occupancy floor —

Sensitivity live

Price	-10% $-310	-5% $-406	+0% $-502	+5% $-598	+10% $-695
Rent	-10% $-811	-5% $-656	+0% $-502	+5% $-348	+10% $-193
Rate	-1.0pp $-331	-0.5pp $-416	base $-502	+0.5pp $-590	+1.0pp $-680

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	4d	13	0.31mi
601 NE 1st Ave Unit 1227496P Miami, FL	3.0	1.0–3.0	904	$8,354	$9.24	0d	4	1.35mi

HOA detail condo

• Monthly dues: $812 · $9,744/yr
• Likely covers: waterpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $340,000 Active 38 DOM
2. 2026-06-18
   days on market $340,000 Active 35 DOM
3. 2026-06-17
   days on market $340,000 Active 34 DOM
4. 2026-06-16
   days on market $340,000 Active 33 DOM
5. 2026-06-15
   days on market $340,000 Active 32 DOM
6. 2026-06-13
   days on market $340,000 Active 30 DOM
7. 2026-06-09
   days on market $340,000 Active 26 DOM
8. 2026-06-08
   days on market $340,000 Active 25 DOM
9. 2026-06-07
   days on market $340,000 Active 24 DOM
10. 2026-06-04
    days on market $340,000 Active 21 DOM
11. 2026-06-03
    days on market $340,000 Active 20 DOM
12. 2026-06-02
    days on market $340,000 Active 19 DOM
13. 2026-06-01
    days on market $340,000 Active 18 DOM
14. 2026-05-31
    days on market $340,000 Active 17 DOM
15. 2026-05-14
    listed $340,000 Active
16. 2025-12-17
    historical $2,495
17. 2025-11-12
    listed $2,495
18. 2025-10-29
    listed $340,000 Active 517-char remark

    Show marketing remark (517 chars)

    Live in the heart of Edgewater at City24, a boutique modern condo on Biscayne Blvd and 24th Street. This bright 1-bedroom, 1-bath residence features an open layout with floor-to-ceiling impact windows, private balcony, and a modern kitchen with stainless-steel appliances and granite countertops. Enjoy resort-style amenities including a heated pool, fitness center, spa, 24-hour security, and covered parking. Just minutes to Wynwood, Midtown, Design District, and Downtown Miami — the perfect urban lifestyle.

19. 2025-10-23
    historical $2,495
20. 2025-09-27
    price $2,495
21. 2025-09-12
    price $2,550
22. 2025-08-20
    listed $2,600
23. 2012-06-07
    soldstatus $190,000

ⓘ 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: $5,114 · $426/mo
• Projected year-2 tax: $5,114 · $426/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 7/10 Severe FEMA zone AE · 89% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 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: $46,896
• − Mortgage interest: −$19,045
• − Property taxes: −$5,114
• − Insurance: −$6,818
• − Repairs & maintenance: −$3,752
• − Management: −$3,752
• − HOA: −$9,744
• − Depreciation: −$9,891
• Taxable loss: −$11,220
• Est. tax savings @ 24.0%: +$2,693
• After-tax cash flow: $-3,332/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

+78.9% since first listed

9 events — show timeline

• 2026-05-14 Listed $340,000 MARMLS
• 2025-12-17 Rental Removed $2,495 MARMLS
• 2025-11-12 Listed for Rent $2,495 MARMLS
• 2025-10-29 Listed $340,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-23 Rental Removed $2,495 MARMLS
• 2025-09-27 Price Changed $2,495 MARMLS
• 2025-09-12 Price Changed $2,550 MARMLS
• 2025-08-20 Listed for Rent $2,600 MARMLS
• 2012-06-07 Sold (Public Records) $190,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $5,114 · +3.2% YoY. Source: county tax records.