1021 NW 3rd St #206 · Miami, FL 33128

$115,000

1 bd · 1.0 ba · 465 sqft · Condo public records · 87 Days on market

Built 1930 $204/mo HOA · 11% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Appreciation +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0

Listing remarks

Great Cashflow, Rented for $1,550/monthly, after expenses it is cash flowing $1,150+. 1 Bedroom, 1 Bathroom residence located in the West Brickell/Little Havana area. Excellent location near the Health District, Brickell, Downtown Miami, and the Miami River, with easy access to major highways. The property sits on a quiet street. On-street parking offers good availability, and washer conveniently located in the unit. Buy your investment property now!! POSSIBLE TO BUY A 3 PACKAGE OF APARTMENTS IN THE SAME BUILDING!!

Key facts

• Quiet street
• Miami river
• Health district

Tags

• WEST BRICKELL LITTLE HAVANA
• HEALTH DISTRICT
• DOWNTOWN MIAMI
• MIAMI RIVER
• QUIET STREET
• ON STREET PARKING

Property features AI

Finance

• Financial info: Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee of $204 covering common areas

Exterior

• Parking: On-street parking
• Security: Fire alarm
• Home design: Attached property; 1 story; Entry on level 1
• Construction: Block construction; Effective year built
• Exterior features: Open balcony

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Wall/window air conditioning units
• Interior features: Third floor entry; Ceramic tile floors
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $23 ($272/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 1.9% in 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 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.
• Market conditions: Rents soft (-2.1%/yr); 83 active listings in the ZIP; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $1,885/mo this rent would consume 53% of the median local household income ($43k/yr) (locally 1087% 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 $795 of loan paydown is wiped out by about $3k 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 87 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 7y 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 $80k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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 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?
9. 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?
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: 1.64% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.74%
• DSCR: 1.74
• GRM: 5.1

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: -20.9%
• Equity multiple: 0.31×
• Total profit: $-22,276
• Equity at exit: $17,147

10-year hold

• IRR: -39.8%
• Equity multiple: -0.15×
• Total profit: $-37,094
• Equity at exit: $9,943

Cash invested: $32,200 (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 33128

• Home prices YoY: -1.1%
• Rents YoY: -2.1%
• Active inventory: 83
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,885 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$185 /mo · $2,216/yr
• Insurance: −$48
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$204
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $23

Break-even live

Break-even rent $1,856

Max offer price $115,000

Occupancy floor 94%

Sensitivity live

Price	-10% $88	-5% $55	+0% $23	+5% $-10	+10% $-42
Rent	-10% $-126	-5% $-52	+0% $23	+5% $97	+10% $172
Rate	-1.0pp $81	-0.5pp $52	base $23	+0.5pp $-7	+1.0pp $-37

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $204 · $2,448/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 44 events

1. 2026-06-18
   days on market $115,000 Active 87 DOM
2. 2026-06-17
   days on market $115,000 Active 86 DOM
3. 2026-06-16
   days on market $115,000 Active 85 DOM
4. 2026-06-15
   days on market $115,000 Active 84 DOM
5. 2026-06-13
   days on market $115,000 Active 82 DOM
6. 2026-06-09
   days on market $115,000 Active 78 DOM
7. 2026-06-08
   days on market $115,000 Active 77 DOM
8. 2026-06-07
   days on market $115,000 Active 76 DOM
9. 2026-06-04
   days on market $115,000 Active 73 DOM
10. 2026-06-03
    days on market $115,000 Active 72 DOM
11. 2026-06-02
    days on market $115,000 Active 71 DOM
12. 2026-06-01
    days on market $115,000 Active 70 DOM
13. 2026-05-31
    days on market $115,000 Active 69 DOM
14. 2026-03-23
    listed $115,000 Active
15. 2026-01-15
    soldstatus $80,000
16. 2025-11-15
    historical
17. 2025-10-22
    listed $110,000 Active
18. 2025-09-05
    historical
19. 2025-06-06
    listed $166,450 Active
20. 2025-04-19
    historical $1,500
21. 2025-04-14
    listed $1,600
22. 2025-04-01
    historical $1,500
23. 2025-03-07
    price $1,600
24. 2025-03-03
    listed $1,700
25. 2024-01-29
    historical $1,650
26. 2024-01-23
    price $1,650
27. 2023-12-28
    listed $1,700
28. 2023-06-17
    historical
29. 2023-04-09
    price $179,000
30. 2023-04-06
    status Active
31. 2023-04-02
    historical Active Under Contract
32. 2023-03-27
    listed $174,000 Active
33. 2022-01-14
    historical
34. 2021-07-02
    price $195,000
35. 2021-05-10
    status Active
36. 2021-04-01
    price $175,000
37. 2021-03-22
    price $185,000
38. 2021-03-21
    status Active
39. 2021-02-08
    listed $155,000 Active
40. 2019-07-11
    soldstatus $95,000
41. 2019-07-03
    soldstatus $95,000 Sold
42. 2019-06-07
    status Pending
43. 2019-06-07
    historical
44. 2019-05-24
    listed $94,000 Active

ⓘ 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: $2,216 · $185/mo
• Projected year-2 tax: $2,216 · $185/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 · 88% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥103°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,615
• − Mortgage interest: −$6,442
• − Property taxes: −$2,216
• − Insurance: −$5,694
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − HOA: −$2,448
• − Depreciation: −$3,345
• Taxable loss: −$1,148
• Est. tax savings @ 24.0%: +$276
• After-tax cash flow: $547/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): 9,475
• Household income: $42,722
• Rent vs Own: 97.5% rent · 2.5% own
• Severe rent burden: 1087.0

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: Predominantly Hispanic (86%)
• Race & ethnicity: Hispanic / Latino 86% Two or more races 50% White 8% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 29% Dominican 1%
• Common ancestry: Lithuanian 2%
• Foreign-born: 70% · Canada, Jamaica, Dominican Republic
• Languages at home: 13% English-only · Spanish 82% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▼ -4.75%
• Current HPI: 436.8124
• Rent YoY: ▼ -2.08%
• 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

+22.3% since first listed

31 events — show timeline

• 2026-03-23 Listed $115,000 MARMLS
• 2026-01-15 Sold (Public Records) $80,000 Public Records
• 2025-11-15 Listing Removed — MARMLS
• 2025-10-22 Listed $110,000 MARMLS
• 2025-09-05 Listing Removed — MARMLS
• 2025-06-06 Listed $166,450 MARMLS
• 2025-04-19 Rental Removed $1,500 MARMLS
• 2025-04-14 Listed for Rent $1,600 MARMLS
• 2025-04-01 Rental Removed $1,500 MARMLS
• 2025-03-07 Price Changed $1,600 MARMLS
• 2025-03-03 Listed for Rent $1,700 MARMLS
• 2024-01-29 Rental Removed $1,650 MARMLS
• 2024-01-23 Price Changed $1,650 MARMLS
• 2023-12-28 Listed for Rent $1,700 MARMLS
• 2023-06-17 Listing Removed — MARMLS
• 2023-04-09 Price Changed $179,000 MARMLS
• 2023-04-06 Relisted — MARMLS
• 2023-04-02 Contingent — MARMLS
• 2023-03-27 Listed $174,000 MARMLS
• 2022-01-14 Listing Removed — MARMLS
• 2021-07-02 Price Changed $195,000 MARMLS
• 2021-05-10 Relisted — MARMLS
• 2021-04-01 Price Changed $175,000 MARMLS
• 2021-03-22 Price Changed $185,000 MARMLS
• 2021-03-21 Relisted — MARMLS
• 2021-02-08 Listed $155,000 MARMLS
• 2019-07-11 Sold (Public Records) $95,000 Public Records
• 2019-07-03 Sold (MLS) $95,000 MARMLS
• 2019-06-07 Pending — MARMLS
• 2019-06-07 Listing Removed — MARMLS
• 2019-05-24 Listed $94,000 MARMLS

Property tax history

+6.9%/yr

Latest (2025): $2,216 · +6.2% YoY. Source: county tax records.