1090 NE 129th St #205 · North Miami, FL 33161

$142,500

1 bd · 1.0 ba · 583 sqft · Condo public records · 1 Days on market

Built 1971 $408/mo HOA · 13% 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 +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Best Location in North East Miami Dade County. Some blocks from Biscayne Blvd. Close to Supermarkets, Shops and Restaurants . Tile throughout, wood cabinets. Unit is in very good condition. Parking spaces under the building.

Key facts

• Covered parking
• Private balcony
• Updated water heater

Tags

• PRIVATE BALCONY
• TILE FLOORING
• UPDATED A/C
• UPDATED WATER HEATER
• COVERED PARKING
• ON SITE LAUNDRY FACILITIES

Property features AI

Finance

• Other: Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee of $408; Association covers management, laundry, and parking; Building has elevator(s)

Exterior

• Parking: Covered carport with 1 space
• Utilities: Central HVAC (heating and cooling)
• Home design: Attached property; 3-story building; Entry on level 2
• Construction: Effective year built
• Exterior features: Balcony; Open balcony/patio

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Second-floor entry; Other interior features
• Laundry & utility: Laundry included (per association)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $142k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $142k).
• Cap rate 15.5% vs local median 4.1% in North 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, 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.
• Market conditions: Rents soft (-0.7%/yr); 338 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,261/mo this rent would consume 67% of the median local household income ($58k/yr) (locally 3226% 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 $985 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $40k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $8k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,500

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.29% ✓
• Cap rate: 15.46%
• Cash-on-cash: 32.73%
• DSCR: 2.46
• GRM: 3.6

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: 23.7%
• Equity multiple: 1.93×
• Total profit: $37,017
• Equity at exit: $21,247

10-year hold

• IRR: 29.1%
• Equity multiple: 3.16×
• Total profit: $86,001
• Equity at exit: $12,321

Cash invested: $39,900 (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 33161

• Rents YoY: -0.7%
• Active inventory: 338
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $3,261 medium
• Mortgage (P&I): −$747
• Tax from tax record: −$273 /mo · $3,280/yr
• Insurance: −$59
• HOA: −$408
• Vacancy / Maint / Mgmt: −$685
• Net cashflow: $1,088

Break-even live

Break-even rent $1,884

Max offer price $142,500

Occupancy floor 62%

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: $35,625
• Closing costs: $4,275
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $408 · $4,896/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-17
   remarks 693-char remark
2. 2026-06-17
   pricedays on marketlisting id $142,500 Active 1 DOM
3. 2026-06-01
   days on market $150,000 Active 60 DOM
4. 2026-05-31
   days on market $150,000 Active 59 DOM
5. 2026-05-02
   historical Active Under Contract
6. 2026-04-02
   listed $150,000 Active
7. 2026-03-24
   historical
8. 2025-11-05
   price $155,000
9. 2025-09-25
   listed $160,000 Active
10. 2022-07-31
    soldstatus $146,000 Closed 225-char remark

    Show marketing remark (225 chars)

    Best Location in North East Miami Dade County. Some blocks from Biscayne Blvd. Close to Supermarkets, Shops and Restaurants . Tile throughout, wood cabinets. Unit is in very good condition. Parking spaces under the building.

11. 2022-05-11
    soldstatus $142,000
12. 2022-03-04
    historical Active Under Contract 225-char remark

    Show marketing remark (225 chars)

    Best Location in North East Miami Dade County. Some blocks from Biscayne Blvd. Close to Supermarkets, Shops and Restaurants . Tile throughout, wood cabinets. Unit is in very good condition. Parking spaces under the building.

13. 2022-02-01
    listed $146,000 Active 225-char remark

    Show marketing remark (225 chars)

    Best Location in North East Miami Dade County. Some blocks from Biscayne Blvd. Close to Supermarkets, Shops and Restaurants . Tile throughout, wood cabinets. Unit is in very good condition. Parking spaces under the building.

14. 2006-05-01
    soldstatus $155,000
15. 2006-02-28
    soldstatus $125,400

ⓘ 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: $3,280 · $273/mo
• Projected year-2 tax: $3,280 · $273/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥103°F today · 23 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: $39,132
• − Mortgage interest: −$7,982
• − Property taxes: −$3,280
• − Insurance: −$712
• − Repairs & maintenance: −$3,131
• − Management: −$3,131
• − HOA: −$4,896
• − Depreciation: −$4,145
• Taxable income: $11,854
• Est. tax owed @ 24.0%: −$2,845
• After-tax cash flow: $10,213/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

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

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 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% Other Indo-European 2%

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: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• 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

+19.6% since first listed

11 events — show timeline

• 2026-05-02 Contingent — MARMLS
• 2026-04-02 Listed $150,000 MARMLS
• 2026-03-24 Listing Removed — MARMLS
• 2025-11-05 Price Changed $155,000 MARMLS
• 2025-09-25 Listed $160,000 MARMLS
• 2022-07-31 Sold (MLS) $146,000 MARMLS
• 2022-05-11 Sold (Public Records) $142,000 Public Records
• 2022-03-04 Contingent — MARMLS
• 2022-02-01 Listed $146,000 MARMLS
• 2006-05-01 Sold (Public Records) $155,000 Public Records
• 2006-02-28 Sold (Public Records) $125,400 Public Records

Property tax history

+9.5%/yr

Latest (2025): $3,280 · +3.1% YoY. Source: county tax records.