1690 NE 191st St Unit 314-1 · Ojus, FL 33179

$215,000

2 bd · 2.0 ba · 1,674 sqft · Condo · 115 Days on market

Built 1967 $860/mo HOA · 20% 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
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a Fannie Mae Property! Purchase for as little as 3% down!! Unit is approved for a Homepath Renovation Mortgage and for Homepath Mortgage Financing!! This unit features 2 bedrooms 2 baths! Great location close to shops and highways! Do not miss out !!! Leasing Restrictions apply, owner must live in the property for 2 years before leasing. Only 15% of rentals allowed, waiting list required.

Key facts

• Guarded community
• Natural light
• Fenced community

Tags

• GARDEN VIEWS
• NATURAL LIGHT
• SCREENED-IN BALCONY
• FENCED COMMUNITY
• GUARDED COMMUNITY
• GENEROUSLY SIZED UNIT

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible conditions
• HOA & community: Monthly association fee; Association covers amenities, cable TV, internet, and grounds maintenance; Association amenities include elevators, laundry facilities, and a pool

Exterior

• Parking: Guest parking; One assigned parking space
• Security: Fenced complex
• Home design: Multistory building (4 stories); Entry located on level 3; Attached property
• Construction: Block construction; Resale property
• Exterior features: Complex is fenced; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Additional unspecified interior features listed by the building
• Laundry & utility: Washer included; Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $215k).
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 8.7% 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: schools D+, 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.
• Market conditions: Rents flat; 572 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,331/mo this rent would consume 80% of the median local household income ($65k/yr) (locally 3123% 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 115 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $70k; list at $215k implies a 207% gain — meaningful room to come down on a strong offer.

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

Recommended offer $195,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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 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?
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: 2.01% ✓
• Cap rate: 12.30%
• Cash-on-cash: 21.44%
• DSCR: 1.95
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.0%
• Equity multiple: 0.93×
• Total profit: $-4,425
• Equity at exit: $32,057

10-year hold

• IRR: 2.1%
• Equity multiple: 1.12×
• Total profit: $7,111
• Equity at exit: $18,589

Cash invested: $60,200 (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 33179

• Rents YoY: 0.2%
• Active inventory: 572
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $4,331 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$860
• Vacancy / Maint / Mgmt: −$910
• Net cashflow: $649

Break-even live

Break-even rent $3,509

Max offer price $215,000

Occupancy floor 80%

Sensitivity live

Price	-10% $798	-5% $723	+0% $649	+5% $575	+10% $501
Rent	-10% $307	-5% $478	+0% $649	+5% $820	+10% $991
Rate	-1.0pp $757	-0.5pp $704	base $649	+0.5pp $593	+1.0pp $537

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $860 · $10,320/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $215,000 Active 115 DOM
2. 2026-06-17
   days on market $215,000 Active 114 DOM
3. 2026-06-16
   days on market $215,000 Active 113 DOM
4. 2026-06-15
   days on market $215,000 Active 112 DOM
5. 2026-06-13
   days on market $215,000 Active 110 DOM
6. 2026-06-09
   days on market $215,000 Active 106 DOM
7. 2026-06-08
   days on market $215,000 Active 105 DOM
8. 2026-06-07
   days on market $215,000 Active 104 DOM
9. 2026-06-04
   days on market $215,000 Active 101 DOM
10. 2026-06-03
    days on market $215,000 Active 100 DOM
11. 2026-06-02
    days on market $215,000 Active 99 DOM
12. 2026-06-01
    days on market $215,000 Active 98 DOM
13. 2026-05-31
    days on market $215,000 Active 97 DOM
14. 2026-02-27
    status Active
15. 2026-02-07
    listed $215,000 Active
16. 2024-09-30
    historical
17. 2024-05-14
    price $209,000
18. 2024-05-07
    price $225,000
19. 2024-05-02
    listed $249,000 Active
20. 2013-07-01
    soldstatus $70,000 Sold 399-char remark

    Show marketing remark (399 chars)

    This is a Fannie Mae Property! Purchase for as little as 3% down!! Unit is approved for a Homepath Renovation Mortgage and for Homepath Mortgage Financing!! This unit features 2 bedrooms 2 baths! Great location close to shops and highways! Do not miss out !!! Leasing Restrictions apply, owner must live in the property for 2 years before leasing. Only 15% of rentals allowed, waiting list required.

21. 2013-05-23
    status Pending 399-char remark

    Show marketing remark (399 chars)

    This is a Fannie Mae Property! Purchase for as little as 3% down!! Unit is approved for a Homepath Renovation Mortgage and for Homepath Mortgage Financing!! This unit features 2 bedrooms 2 baths! Great location close to shops and highways! Do not miss out !!! Leasing Restrictions apply, owner must live in the property for 2 years before leasing. Only 15% of rentals allowed, waiting list required.

ⓘ 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 5/10 Major FEMA zone AE · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,972
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$6,194
• − Repairs & maintenance: −$4,158
• − Management: −$4,158
• − HOA: −$10,320
• − Depreciation: −$6,255
• Taxable income: $5,620
• Est. tax owed @ 24.0%: −$1,349
• After-tax cash flow: $6,441/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 — 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 · 2,697,751 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: 3123.0

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: 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%

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

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

+207.1% since first listed

8 events — show timeline

• 2026-02-27 Relisted — MARMLS
• 2026-02-07 Listed $215,000 MARMLS
• 2024-09-30 Listing Removed — MARMLS
• 2024-05-14 Price Changed $209,000 MARMLS
• 2024-05-07 Price Changed $225,000 MARMLS
• 2024-05-02 Listed $249,000 MARMLS
• 2013-07-01 Sold (MLS) $70,000 MARMLS
• 2013-05-23 Pending — MARMLS