3553 Magellan Cir Unit 317-1 · Aventura, FL 33180

$295,000

3 bd · 2.0 ba · 1,143 sqft · Condo · 97 Days on market

Built 1985 $977/mo HOA · 21% of rent ↓ 5% since listing

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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 +24.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom, 2-bathroom garden corner apartment is located in a desirable Aventura community. This spacious residence features a private balcony, walk-in closets, and an open, functional layout with plenty of living space throughout. The corner-unit design offers added privacy and abundant natural light. The community is beautifully maintained with lush gardens, a sparkling heated pool, and 24/7 security. Ideally located just blocks from the Aventura Golf Course and Aventura Mall, minutes from the beach, and within walking distance to the marina, shops, and supermarkets. Convenient access to dining, parks, and major roadways makes this a wonderful place to call home. The seller does not

Key facts

• Private balcony
• Corner-unit design
• Walk-in closets

Tags

• PRIVATE BALCONY
• WALK-IN CLOSETS
• CORNER-UNIT DESIGN
• LUSH GARDENS
• HEATED POOL
• 24/7 SECURITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $295k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $295k).
• Recommended offer: $268k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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.
• Market conditions: Rents soft (-1.5%/yr); 985 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,604/mo this rent would consume 61% of the median local household income ($91k/yr) (locally 1838% 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 $9k 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 97 days — a 9% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 2 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.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $268,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.56% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.03%
• DSCR: 1.40
• GRM: 5.3

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: -17.2%
• Equity multiple: 0.42×
• Total profit: $-47,946
• Equity at exit: $43,985

10-year hold

• IRR: -23.2%
• Equity multiple: 0.10×
• Total profit: $-74,119
• Equity at exit: $25,506

Cash invested: $82,600 (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 33180

• Rents YoY: -1.5%
• Active inventory: 985
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $4,604 high
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$977
• Vacancy / Maint / Mgmt: −$967
• Net cashflow: $195

Break-even live

Break-even rent $4,357

Max offer price $295,000

Occupancy floor 91%

Sensitivity live

Price	-10% $399	-5% $297	+0% $195	+5% $93	+10% $-9
Rent	-10% $-169	-5% $13	+0% $195	+5% $377	+10% $559
Rate	-1.0pp $344	-0.5pp $270	base $195	+0.5pp $119	+1.0pp $41

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2069 S Ocean Dr Unit TH12 Hallandale Beach, FL	3.0	3.0	1500	$4,800	$3.20	25d	1	0.82mi
2069 S Ocean Dr Unit TH12 Hallandale Beach, FL	3.0	3.0	1500	$4,800	$3.20	11d	1	0.82mi
2017 S Ocean Dr #1107 Hallandale Beach, FL	2.0	2.0	1270	$3,900	$3.07	14d	1	0.82mi
3180 S Ocean Dr #1709 Hallandale Beach, FL	2.0	2.0	1105	$4,000	$3.62	8d	1	0.84mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1285	$4,000	$3.11	25d	3	0.84mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1263	$4,000	$3.17	21d	2	0.84mi
3140 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1100	$4,250	$3.86	2d	2	0.86mi
2065 S Ocean Dr Unit 1049793P Hallandale Beach, FL	2.0	2.0	871	$4,971	$5.71	8d	1	0.87mi
201 Golden Isles Dr #302 Hallandale Beach, FL	2.0	2.0	1150	$3,975	$3.46	25d	1	0.87mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$7,500	$5.91	4d	11	0.89mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$7,500	$5.91	25d	7	0.89mi
2080 S Ocean Dr #3 Hallandale Beach, FL	2.0	2.0	1260	$5,000	$3.97	25d	1	0.90mi
2080 S Ocean Dr #8 Hallandale Beach, FL	2.0	2.0	1100	$4,000	$3.64	25d	1	0.90mi
2080 S Ocean Dr #6 Hallandale Beach, FL	2.0	2.0	1165	$4,500	$3.86	25d	1	0.90mi
1985 S Ocean Dr Unit 9G Hallandale Beach, FL	2.0	2.0	1240	$3,700	$2.98	25d	1	0.91mi
1985 S Ocean Dr Unit 22P Hallandale Beach, FL	2.0	2.0	1380	$4,000	$2.90	25d	1	0.91mi
1985 S Ocean Dr Unit 21P Hallandale Beach, FL	2.0	2.0	1380	$3,800	$2.75	8d	1	0.91mi
2030 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1280	$4,750	$3.71	3d	9	0.92mi
2030 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1280	$4,825	$3.77	25d	9	0.92mi
2030 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1280	$4,775	$3.73	3d	8	0.92mi
2030 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1280	$4,850	$3.79	5d	7	0.92mi
2030 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1280	$4,800	$3.75	3d	7	0.92mi
121 Golden Isles Dr #1 Hallandale Beach, FL	2.0	2.0	1379	$4,000	$2.90	25d	1	0.97mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,800	$3.11	8d	2	1.01mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,800	$3.11	15d	3	1.01mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,800	$3.11	13d	2	1.01mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1522	$4,500	$2.96	19d	3	1.01mi
1180 E Hallandale Beach Blvd Unit 1241877P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$5,453	$6.46	4d	2	1.04mi
1904 S Ocean Dr #1707 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	25d	1	1.13mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	25d	1	1.15mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	17d	1	1.15mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$4,900	$3.63	15d	1	1.15mi
215 SE 5th St Hallandale Beach, FL	2.0–3.0	2.0	1133	$3,675	$3.24	25d	5	1.15mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$5,950	$5.45	25d	3	1.21mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$7,129	$7.05	2d	5	1.21mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$5,950	$5.56	21d	4	1.21mi
211 SE 4th St #3 Hallandale Beach, FL	3.0	2.5	1290	$3,950	$3.06	25d	1	1.21mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	25d	1	1.21mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	25d	1	1.21mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	25d	1	1.21mi

HOA detail condo

• Monthly dues: $977 · $11,724/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-04-24
   status Pending
2. 2026-04-10
   status Active
3. 2026-04-10
   price $295,000
4. 2026-03-06
   status Pending
5. 2025-12-13
   listed $310,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 27 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: $55,248
• − Mortgage interest: −$16,525
• − Property taxes: −$4,425
• − Insurance: −$6,594
• − Repairs & maintenance: −$4,420
• − Management: −$4,420
• − HOA: −$11,724
• − Depreciation: −$8,582
• Taxable loss: −$1,440
• Est. tax savings @ 24.0%: +$346
• After-tax cash flow: $2,685/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)

No district data.

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): 34,147
• Household income: $91,055
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1838.0

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: White 46% Hispanic / Latino 45% Two or more races 28% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 7% Dominican 1% Salvadoran 6%
• Common ancestry: Scotch-Irish 5% Romanian 5% Italian 3%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 30% English-only · Spanish 49% Other Indo-European 6% Russian/Polish/Slavic 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: ▼ -343.81%
• Current HPI: 234.7715
• Rent YoY: ▼ -1.51%
• 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

-4.8% since first listed

5 events — show timeline

• 2026-04-24 Pending — MARMLS
• 2026-04-10 Relisted — MARMLS
• 2026-04-10 Price Changed $295,000 MARMLS
• 2026-03-06 Pending — MARMLS
• 2025-12-13 Listed $310,000 MARMLS