1670 NE 191st St Unit 109-3 · Ojus, FL 33179

$189,000

2 bd · 2.0 ba · 1,315 sqft · Condo · 143 Days on market

Built 1968 Fair condition $144/sqft · 23% below area Est $245k · 23% under · waterfront $657/mo HOA · 18% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Schools +3.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Location! location! location! very comfortable first floor unit 2-2, located in a gated community with 24/7 security guards and 4 pools. Basic cable is included with Hoa fee. Walking distance to the plaza with Publix, TJ Max, CVS, Sky Lake, Pediatric association, LA Fitness, banks and restaurants, minutes from Aventura, Sunny Isles, beaches and I-95. 10,999 Price reduction.

Key facts

• $657 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $189k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $189k).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 5.8% in Ojus — 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 (#58 in FL, #1,031 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities 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: Ojus Elementary School (math 56% / reading 59%, grade C+, #764 of 2,144 statewide, top 36%, 776 students, 63% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Dr. Michael M. Krop Senior High (math 21% / reading 46%, grade F, #400 of 667 statewide, top 61%, 2,235 students, 49% FRL).
• Market conditions: Rents flat; 810 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,591/mo this rent would consume 66% of the median local household income ($65k/yr) (locally 21% 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 $1k of loan paydown is wiped out by about $6k 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 143 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
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: 1.90% ✓
• Cap rate: 11.84%
• Cash-on-cash: 19.81%
• DSCR: 1.88
• GRM: 4.4

CMA / ARV

• ARV (median comp): $245,000
• List price: $189,000
• Delta: -22.86%
• Verdict: UNDERPRICED
• Comps: 5 within 3.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.22% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.79×
• Total profit: $-11,213
• Equity at exit: $28,181

10-year hold

• IRR: -2.9%
• Equity multiple: 0.85×
• Total profit: $-8,115
• Equity at exit: $16,341

Cash invested: $52,920 (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 →

Active competition Active MLS

• For sale now: 4 active · 4 under contract
• Median asking: $227,450 ($184/sqft)
• Median days on market: 107 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: +1.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33179

• Rents YoY: 0.2%
• Active inventory: 810
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $3,591 medium
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$657
• Vacancy / Maint / Mgmt: −$754
• Net cashflow: $447

Break-even live

Break-even rent $3,025

Max offer price $189,000

Occupancy floor 83%

Sensitivity live

Price	-10% $578	-5% $512	+0% $447	+5% $382	+10% $316
Rent	-10% $163	-5% $305	+0% $447	+5% $589	+10% $731
Rate	-1.0pp $542	-0.5pp $495	base $447	+0.5pp $398	+1.0pp $348

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: $47,250
• Closing costs: $5,670
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Association poolAssociation-maintained common areasAssociation-maintained pool
• Financial info: Lease consideredPets allowed (no restrictions)
• HOA & community: Monthly association fee of $657 covering common areasAssociation amenities include a pool

Exterior

• Parking: One parking space
• Security: Security guard
• Utilities: Has cooling (central air)
• Home design: Attached property5-story buildingEntry on level 1
• Construction: Block constructionResale property
• Exterior features: BalconyOpen balcony/patio

Interior

• Kitchen: DishwasherMicrowaveRefrigerator
• Flooring: CarpetCeramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: First floor entryOther interior features

HOA detail $657/mo · $7,884/yr condo

• Likely covers: cablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-23
   days on market $189,000 Active 143 DOM
2. 2026-09-22
   days on market $189,000 Active 142 DOM
3. 2026-09-20
   days on market $189,000 Active 140 DOM
4. 2026-09-18
   days on market $189,000 Active 138 DOM
5. 2026-09-17
   days on market $189,000 Active 137 DOM
6. 2026-09-16
   days on market $189,000 Active 136 DOM
7. 2026-09-15
   days on market $189,000 Active 135 DOM
8. 2026-09-13
   days on market $189,000 Active 133 DOM
9. 2026-09-12
   days on market $189,000 Active 132 DOM
10. 2026-09-11
    days on market $189,000 Active 131 DOM
11. 2026-09-05
    days on market $189,000 Active 125 DOM
12. 2026-09-04
    days on market $189,000 Active 124 DOM
13. 2026-08-31
    days on market $189,000 Active 120 DOM
14. 2026-08-29
    days on market $189,000 Active 118 DOM
15. 2026-08-28
    days on market $189,000 Active 117 DOM
16. 2026-08-27
    days on market $189,000 Active 116 DOM
17. 2026-08-26
    days on market $189,000 Active 115 DOM
18. 2026-08-25
    days on market $189,000 Active 114 DOM
19. 2026-08-23
    days on market $189,000 Active 112 DOM
20. 2026-08-22
    days on market $189,000 Active 111 DOM
21. 2026-08-21
    days on market $189,000 Active 110 DOM
22. 2026-08-20
    days on market $189,000 Active 109 DOM
23. 2026-08-19
    days on market $189,000 Active 108 DOM
24. 2026-08-18
    days on market $189,000 Active 107 DOM
25. 2026-08-16
    days on market $189,000 Active 105 DOM
26. 2026-08-15
    days on market $189,000 Active 104 DOM
27. 2026-08-14
    days on market $189,000 Active 103 DOM
28. 2026-08-13
    days on market $189,000 Active 102 DOM
29. 2026-08-12
    days on market $189,000 Active 101 DOM
30. 2026-08-11
    days on market $189,000 Active 100 DOM
31. 2026-08-10
    days on market $189,000 Active 99 DOM
32. 2026-08-09
    days on market $189,000 Active 98 DOM
33. 2026-08-08
    days on market $189,000 Active 97 DOM
34. 2026-08-06
    days on market $189,000 Active 95 DOM
35. 2026-08-05
    days on market $189,000 Active 94 DOM
36. 2026-08-04
    days on market $189,000 Active 93 DOM
37. 2026-08-03
    days on market $189,000 Active 92 DOM
38. 2026-07-31
    days on market $189,000 Active 89 DOM
39. 2026-07-28
    days on market $189,000 Active 86 DOM
40. 2026-07-24
    days on market $189,000 Active 82 DOM
41. 2026-07-23
    days on market $189,000 Active 81 DOM
42. 2026-07-22
    days on market $189,000 Active 80 DOM
43. 2026-07-21
    days on market $189,000 Active 79 DOM
44. 2026-07-20
    days on market $189,000 Active 78 DOM
45. 2026-07-18
    days on market $189,000 Active 76 DOM
46. 2026-07-18
    days on market $189,000 Active 75 DOM
47. 2026-07-16
    days on market $189,000 Active 74 DOM
48. 2026-07-15
    days on market $189,000 Active 73 DOM
49. 2026-07-14
    days on market $189,000 Active 72 DOM
50. 2026-07-13
    days on market $189,000 Active 71 DOM

ⓘ 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 7/10 Severe FEMA zone AE · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 24 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: $43,088
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$6,064
• − Repairs & maintenance: −$3,447
• − Management: −$3,447
• − HOA: −$7,884
• − Depreciation: −$5,498
• Taxable income: $3,326
• Est. tax owed @ 24.0%: −$798
• After-tax cash flow: $4,565/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab Est. rehab $32,875–$59,175 screening

This unit requires moderate renovations to improve its condition and appeal. Key updates include painting, updating fixtures, and modernizing the kitchen and bathrooms.

Repairs flagged

• Minor kitchen backsplash — slight wear
• Minor bathroom lighting — dated fixtures

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace kitchen backsplash — modernizes kitchen and adds value ↑
• Both update bathroom lighting — improves functionality and aesthetics ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 36/100

Zoned Schools

Middle Highland Oaks Middle School F FL #373/571 Nat'l #6,151/14,009 High Dr. Michael M. Krop Senior High F FL #400/667 Nat'l #10,191/17,239

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

A Composite livability gradescore 83/100

Livability — Ojus

• Score: 83/100
• State rank: #58
• US rank: #1031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ojus, FL
• County: Miami-Dade County · 3,126,439 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 51,591
• Household income: $65,211
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 21% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Black 39% Hispanic / Latino 38% Two or more races 23% White 19% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 6% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 13% Scotch-Irish 2% Romanian 2%
• Foreign-born: 48% · Canada, Jamaica, Dominican Republic
• Languages at home: 42% English-only · Spanish 37% French/Haitian/Cajun 13% Other Indo-European 2%

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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: ▼ -608.34%
• Current HPI: 328.1733
• Rent YoY: ▲ 0.22%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: Association poolAssociation-maintained common areasAssociation-maintained pool
• Financial info: Lease consideredPets allowed (no restrictions)
• HOA & community: Monthly association fee of $657 covering common areasAssociation amenities include a pool

Exterior

• Parking: One parking space
• Security: Security guard
• Utilities: Has cooling (central air)
• Home design: Attached property5-story buildingEntry on level 1
• Construction: Block constructionResale property
• Exterior features: BalconyOpen balcony/patio

Interior

• Kitchen: DishwasherMicrowaveRefrigerator
• Flooring: CarpetCeramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: First floor entryOther interior features

Price history

+20.4% since first listed

9 events — show timeline

• 2026-05-17 Price Changed $189,000 MARMLS
• 2026-05-03 Listed $199,999 MARMLS
• 2026-05-01 Listing Removed — MARMLS
• 2025-11-01 Listed $199,999 MARMLS
• 2025-10-20 Listing Removed — MARMLS
• 2025-07-01 Price Changed $199,999 MARMLS
• 2025-06-03 Price Changed $215,000 MARMLS
• 2025-05-15 Price Changed $257,000 MARMLS
• 2025-04-22 Listed $157,000 MARMLS