11111 Biscayne Blvd Unit 4c · North Miami, FL 33181

$405,000

2 bd · 2.0 ba · 1,674 sqft · Condo public records · 16 Days on market

Built 1972 $1150/mo HOA · 27% 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 +8.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 3-bedroom, 2-bath condo located in The Jockey Club Condo Unit II. This 4th-floor residence offers 1,674 sq ft of living area and a comfortable layout with great potential. Convenient Miami location near Biscayne Blvd, shopping, dining, Bal Harbour, Aventura, and the beaches. Buyer and buyer's agent are responsible for verifying all property information, association fees, restrictions, assessments, and approval requirements.

Key facts

• $1,150 HOA
• 2 garage spots
• Community pool

Property features AI

Finance

• Financial info: Pets allowed (restrictions possible); Association fee payment is monthly; fee covers cable TV, insurance, grounds maintenance, pest control, security, water, elevator, hot water, and pool service
• HOA & community: Association with monthly fee (association fee listed separately); Association amenities include elevator(s), laundry, parking, pool, heated pool, cabana, lobby, trash chute, bike storage

Exterior

• Parking: Covered parking; Attached garage; Detached garage; Valet available; Two covered parking spaces; Two garage spaces (total parking count listed as 1 in some records)
• Security: Closed-circuit cameras; Smoke detectors; Security fence; Security system
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; Resale property; Faces east; 13 total stories
• Construction: CBS construction; Concrete roof
• Exterior features: No waterfront; Other waterfront features; Cabana; Pool (heated); Lobby; Trash chute; Bike storage

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Three main-level bedrooms
• Flooring: Tile
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Walk-in closets; Closet cabinetry; French doors; Blinds and sliding windows
• Laundry & utility: Laundry inside unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $405k.

Deal economics

• At list price, monthly cash flow is $-419 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $331k (18.3% below list).
• Meets the 1% rule at list price ($4k rent vs $405k).
• Recommended offer: $331k (18.3% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 4.1% in North 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: 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.
• Zoned schools: David Lawrence Jr. K-8 Center (math 43% / reading 50%, grade D-, #1,223 of 2,144 statewide, top 57%, 1,282 students, 55% FRL); North Miami Middle School (math 25% / reading 31%, grade F, #486 of 571 statewide, top 86%, 807 students, 71% FRL); Alonzo & Tracy Mourning Senior High School (math 38% / reading 50%, grade F, #244 of 667 statewide, top 37%, 1,597 students, 48% FRL).
• Market conditions: Rents soft (-0.1%/yr); 340 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,265/mo this rent would consume 81% 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 $3k of loan paydown is wiped out by about $12k 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 16 days — a 2% lower offer ($399k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $260k; list at $405k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $330,990 (18.3% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.05% ✓
• Cap rate: 5.05%
• Cash-on-cash: -4.43%
• DSCR: 0.80
• GRM: 7.9

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: -28.4%
• Equity multiple: 0.08×
• Total profit: $-104,138
• Equity at exit: $60,387

10-year hold

• IRR: -55.8%
• Equity multiple: -0.50×
• Total profit: $-170,614
• Equity at exit: $35,017

Cash invested: $113,400 (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 33181

• Rents YoY: -0.1%
• Active inventory: 340
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $4,265 medium
• Mortgage (P&I): −$2,124
• Tax from tax record: −$346 /mo · $4,150/yr
• Insurance: −$169
• HOA: −$1,150
• Vacancy / Maint / Mgmt: −$896
• Net cashflow: $-419

Break-even live

Break-even rent $4,795

Max offer price $330,990

Occupancy floor —

Sensitivity live

Price	-10% $-190	-5% $-304	+0% $-419	+5% $-534	+10% $-648
Rent	-10% $-756	-5% $-587	+0% $-419	+5% $-250	+10% $-82
Rate	-1.0pp $-215	-0.5pp $-316	base $-419	+0.5pp $-524	+1.0pp $-631

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: $101,250
• Closing costs: $12,150
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $1,150 · $13,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-21
   days on market $405,000 Active 16 DOM
2. 2026-06-18
   days on market $405,000 Active 13 DOM
3. 2026-06-17
   days on market $405,000 Active 12 DOM
4. 2026-06-16
   days on market $405,000 Active 11 DOM
5. 2026-06-15
   days on market $405,000 Active 10 DOM
6. 2026-06-13
   days on market $405,000 Active 8 DOM
7. 2026-06-09
   days on market $405,000 Active 4 DOM
8. 2026-06-08
   days on market $405,000 Active 3 DOM
9. 2026-06-07
   remarks 436-char remark
10. 2026-06-07
    listed $405,000 Active 2 DOM

ⓘ 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: $4,150 · $346/mo
• Projected year-2 tax: $4,150 · $346/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $51,182
• − Mortgage interest: −$22,686
• − Property taxes: −$4,150
• − Insurance: −$2,025
• − Repairs & maintenance: −$4,095
• − Management: −$4,095
• − HOA: −$13,800
• − Depreciation: −$11,782
• Taxable loss: −$11,450
• Est. tax savings @ 24.0%: +$2,748
• After-tax cash flow: $-2,279/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

• 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

+370.9% since first listed

16 events — show timeline

• 2026-06-05 Listed $405,000 Beaches MLS
• 2019-04-30 Listing Removed — MARMLS
• 2018-11-01 Listed $290,000 MARMLS
• 2017-07-15 Listing Removed — MARMLS
• 2017-02-25 Price Changed $277,000 MARMLS
• 2017-02-17 Price Changed $280,000 MARMLS
• 2017-01-30 Price Changed $287,500 MARMLS
• 2017-01-17 Price Changed $288,000 MARMLS
• 2016-11-21 Price Changed $290,000 MARMLS
• 2016-10-29 Price Changed $293,000 MARMLS
• 2016-08-29 Listed $295,000 MARMLS
• 2013-08-19 Sold (Public Records) $260,000 Public Records
• 2006-05-25 Sold (Public Records) $350,000 Public Records
• 2005-04-05 Sold (Public Records) $210,000 Public Records
• 1974-12-01 Sold (Public Records) $90,000 Public Records
• 1974-04-01 Sold (Public Records) $86,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $4,150 · +3.2% YoY. Source: county tax records.