19305 NE 2 Ave #2323 · Ives Estates, FL 33179

$140,000

2 bd · 2.0 ba · 1,025 sqft · Condo public records · 460 Days on market

Built 1972 $415/mo HOA · 19% 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 +28.8/30.0
• 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
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 2 bedroom/2 bathroom second floor condominium with ample living space, room for small office and/or play room.

Key facts

• $415 HOA
• Parking
• Built 1972

Property features AI

Finance

• HOA & community: Monthly association fee of $415 covering common areas; Pets allowed with size limit (maximum 20 lbs)

Exterior

• Parking: Guest parking available; One assigned parking space
• Security: Complex fenced
• Home design: 2 stories
• Construction: Block construction; Resale property
• Exterior features: Fenced exterior; Complex is fenced; Has a view; Property is attached

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Tile flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: Second-floor entry; Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $42 ($501/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.6% in Ives Estates — 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 77/100 on livability (#191 in FL, #3,061 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: employment C-, 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 40% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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.

Negotiation context

• It's been on market 460 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask is 7268% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $80k; list at $140k implies a 75% 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 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 460 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 10.31%
• Cash-on-cash: 14.34%
• DSCR: 1.64
• GRM: 5.3

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: -19.4%
• Equity multiple: 0.35×
• Total profit: $-25,505
• Equity at exit: $20,874

10-year hold

• IRR: -28.1%
• Equity multiple: -0.02×
• Total profit: $-39,970
• Equity at exit: $12,105

Cash invested: $39,200 (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: 5.3×

Monthly cashflow live

• Estimated rent: $2,188 high
• Mortgage (P&I): −$734
• Tax from tax record: −$53 /mo · $637/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$415
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $42

Break-even live

Break-even rent $2,136

Max offer price $140,000

Occupancy floor 93%

Sensitivity live

Price	-10% $121	-5% $81	+0% $42	+5% $2	+10% $-37
Rent	-10% $-131	-5% $-45	+0% $42	+5% $128	+10% $215
Rate	-1.0pp $112	-0.5pp $77	base $42	+0.5pp $6	+1.0pp $-31

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5721 SW 41st St West Park, FL	3.0	1.0	839	$2,650	$3.16	25d	1	1.41mi
5525 SW 41st St Hollywood, FL	2.0	2.0	1031	$2,145	$2.08	3d	1	1.42mi
5100 SW 41st St Pembroke Park, FL	1.0–2.0	1.0–2.0	815	$1,750	$2.15	20d	3	1.43mi
5100 SW 41st St Pembroke Park, FL	1.0–2.0	1.0–2.0	815	$1,799	$2.21	4d	4	1.43mi
3926 SW 52nd Ave Unit E5 Hollywood, FL	3.0	2.5	1335	$2,500	$1.87	25d	1	1.48mi

HOA detail condo

• Monthly dues: $415 · $4,980/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $140,000 Active 460 DOM
2. 2026-06-17
   pricedays on market $140,000 Active 459 DOM
3. 2026-06-16
   days on market $165,000 Active 458 DOM
4. 2026-06-15
   days on market $165,000 Active 457 DOM
5. 2026-06-13
   days on market $165,000 Active 455 DOM
6. 2026-06-10
   price $165,000 Active 451 DOM
7. 2026-06-09
   days on market $175,000 Active 451 DOM
8. 2026-06-08
   days on market $175,000 Active 450 DOM
9. 2026-06-08
   days on market $175,000 Active 449 DOM
10. 2026-06-04
    days on market $175,000 Active 446 DOM
11. 2026-06-03
    days on market $175,000 Active 445 DOM
12. 2026-06-02
    days on market $175,000 Active 444 DOM
13. 2026-06-01
    days on market $175,000 Active 443 DOM
14. 2026-05-31
    days on market $175,000 Active 442 DOM
15. 2026-05-24
    listed $1,900
16. 2025-12-24
    price $175,000
17. 2025-03-10
    listed $180,000 Active
18. 2017-08-30
    soldstatus $80,000
19. 2017-08-25
    soldstatus $80,000 Sold 119-char remark

    Show marketing remark (119 chars)

    Spacious 2 bedroom/2 bathroom second floor condominium with ample living space, room for small office and/or play room.

20. 2017-07-11
    status Pending 119-char remark

    Show marketing remark (119 chars)

    Spacious 2 bedroom/2 bathroom second floor condominium with ample living space, room for small office and/or play room.

21. 2017-06-22
    listed $78,000 Active 119-char remark

    Show marketing remark (119 chars)

    Spacious 2 bedroom/2 bathroom second floor condominium with ample living space, room for small office and/or play room.

22. 2007-06-01
    soldstatus $122,500 112-char remark

    Show marketing remark (112 chars)

    Beautiful lake view from enclosed terrace! Recently painted. Tiled throughout. No age restriction. Easy to show.

23. 2006-03-01
    soldstatus $122,500
24. 2001-01-24
    soldstatus $40,000
25. 1979-01-01
    soldstatus $28,000
26. 1975-11-01
    soldstatus $22,800

ⓘ 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: $637 · $53/mo
• Projected year-2 tax: $1,162 · $97/mo
• Expected delta: +$525/yr (+$44/mo · 82.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥105°F today · 20 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: $26,262
• − Mortgage interest: −$7,842
• − Property taxes: −$637
• − Insurance: −$5,818
• − Repairs & maintenance: −$2,101
• − Management: −$2,101
• − HOA: −$4,980
• − Depreciation: −$4,073
• Taxable loss: −$1,290
• Est. tax savings @ 24.0%: +$310
• After-tax cash flow: $811/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 — Ives Estates

• Score: 77/100
• State rank: #191
• US rank: #3061

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami-Dade County · 2,697,751 people
• City population: 51,591
• 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

-91.7% since first listed

12 events — show timeline

• 2026-05-24 Listed for Rent $1,900 MARMLS
• 2025-12-24 Price Changed $175,000 MARMLS
• 2025-03-10 Listed $180,000 MARMLS
• 2017-08-30 Sold (Public Records) $80,000 Public Records
• 2017-08-25 Sold (MLS) $80,000 MARMLS
• 2017-07-11 Pending — MARMLS
• 2017-06-22 Listed $78,000 MARMLS
• 2007-06-01 Sold (MLS) $122,500 MARMLS
• 2006-03-01 Sold (Public Records) $122,500 Public Records
• 2001-01-24 Sold (Public Records) $40,000 Public Records
• 1979-01-01 Sold (Public Records) $28,000 Public Records
• 1975-11-01 Sold (Public Records) $22,800 Public Records

Property tax history

+9.0%/yr

Latest (2025): $637 · +4.9% YoY. Source: county tax records.