18151 NE 31st Ct #906 · Aventura, FL 33160

$365,000

2 bd · 2.0 ba · 1,210 sqft · Condo public records · 114 Days on market

Built 1981 $1149/mo HOA · 29% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• 1% rule +5.7/10.0
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0

Listing remarks MLS

Delightful lake, city & pool views - furnished comfy & pretty 2 bdrm split. Tiled living areas, new carpet in bedrooms, tons of custom closets. Large open eat-in kitchen with snack bar. Oversized tiled balcony with great views, covered parking, guard gated Biscayne Cove Clipper bldg. Excellent Aventura schools & community. 24/7 guard gated security/valet, gracious lobby, two pools, lit tennis, exercise rooms, library, spa, sauna, hot tub+. As-is, inspections welcome.

Key facts

• Huge balcony
• On-site amenities
• Fitness centers

Tags

• MODERN KITCHEN
• HUGE BALCONY
• BREATHTAKING WATER VIEW
• ON-SITE AMENITIES
• TWO POOLS
• FITNESS CENTERS

Property features AI

Finance

• Financial info: Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee; Association fee includes management, amenities, common areas, hot water, insurance, laundry, legal/accounting, grounds and structure maintenance, pest control, pools, and recreation facilities; Association amenities include clubhouse, fitness center, billiard room, bike storage, cabana, elevators, laundry, barbecue/picnic areas, storage, tennis courts, trails, and transportation service

Exterior

• Parking: Attached covered garage with automatic door opener; Deeded parking (1 covered space)
• Security: Complex fenced; Elevator secured; Fire alarm
• Utilities: Has cooling and heating; Electric utilities; Public water and sewer (common in complex)
• Home design: Property is attached (condo/complex); 9th floor entry; 21-story building; Has a view
• Construction: Stone construction; Effective year built
• Exterior features: Fence; Security/high-impact doors; Tennis court(s); Exterior lighting; Bay front waterfront

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Icemaker; Microwave; Trash compactor
• Bedrooms: Bedroom 2 (18' x 12')
• Flooring: Carpet; Marble
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: Accessibility features and handicap access; Elevator; Closet cabinetry; Bedroom on main level; First-floor and second-floor entry; Intercom
• Laundry & utility: Dryer; Washer located in common area; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $365k.

Deal economics

• At list price, monthly cash flow is $-578 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (22.9% below list).
• Meets the 1% rule at list price ($4k rent vs $365k).
• Recommended offer: $281k (22.9% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 2.6% in Aventura — 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 80/100 on livability (#127 in FL, #1,834 nationally) — a professional / high-income tenant draw. Strengths: schools A+, health & safety A+, amenities A; Watch: crime D+, 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 flat; 1870 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,915/mo this rent would consume 70% of the median local household income ($67k/yr) (locally 3106% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($3k loan paydown + $2k appreciation (0.5% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($332k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $230k; list at $365k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $281,304 (22.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. Crime grade is D 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.07% ✓
• Cap rate: 4.39%
• Cash-on-cash: -6.79%
• DSCR: 0.70
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.55×
• Total profit: $-45,568
• Equity at exit: $115,703

10-year hold

• IRR: -5.1%
• Equity multiple: 0.44×
• Total profit: $-56,873
• Equity at exit: $147,093

Cash invested: $102,200 (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 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1870
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $3,915 medium
• Mortgage (P&I): −$1,914
• Tax est. 1.5%: −$456 /mo · $5,475/yr
• Insurance: −$152
• HOA: −$1,149
• Vacancy / Maint / Mgmt: −$822
• Net cashflow: $-578

Break-even live

Break-even rent $4,647

Max offer price $281,304

Occupancy floor —

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $1,149 · $13,788/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $365,000 Active 114 DOM
2. 2026-06-17
   days on market $365,000 Active 113 DOM
3. 2026-06-16
   days on market $365,000 Active 112 DOM
4. 2026-06-15
   days on market $365,000 Active 111 DOM
5. 2026-06-13
   days on market $365,000 Active 109 DOM
6. 2026-06-09
   days on market $365,000 Active 105 DOM
7. 2026-06-08
   days on market $365,000 Active 104 DOM
8. 2026-06-07
   days on market $365,000 Active 103 DOM
9. 2026-06-04
   days on market $365,000 Active 100 DOM
10. 2026-06-03
    days on market $365,000 Active 99 DOM
11. 2026-06-02
    days on market $365,000 Active 98 DOM
12. 2026-06-01
    days on market $365,000 Active 97 DOM
13. 2026-05-31
    days on market $365,000 Active 96 DOM
14. 2026-02-24
    listed $365,000 Active
15. 2025-10-07
    historical
16. 2025-07-08
    price $369,000
17. 2025-04-26
    price $400,000
18. 2024-08-20
    price $350,000
19. 2023-12-26
    price $360,000
20. 2023-10-07
    listed $375,000 Active
21. 2017-06-27
    soldstatus $230,000
22. 2017-06-23
    soldstatus $230,000 Sold 489-char remark

    Show marketing remark (489 chars)

    Delightful lake, city & pool views - furnished comfy & pretty 2 bdrm split. Tiled living areas, new carpet in bedrooms, tons of custom closets. Large open eat-in kitchen with snack bar. Oversized tiled balcony with great views, covered parking, guard gated Biscayne Cove Clipper bldg. Excellent Aventura schools & community. 24/7 guard gated security/valet, gracious lobby, two pools, lit tennis, exercise rooms, library, spa, sauna, hot tub+. As-is, inspections welcome.

23. 2017-06-20
    status Pending 489-char remark

    Show marketing remark (489 chars)

    Delightful lake, city & pool views - furnished comfy & pretty 2 bdrm split. Tiled living areas, new carpet in bedrooms, tons of custom closets. Large open eat-in kitchen with snack bar. Oversized tiled balcony with great views, covered parking, guard gated Biscayne Cove Clipper bldg. Excellent Aventura schools & community. 24/7 guard gated security/valet, gracious lobby, two pools, lit tennis, exercise rooms, library, spa, sauna, hot tub+. As-is, inspections welcome.

24. 2017-05-12
    status Backup Contract 489-char remark

    Show marketing remark (489 chars)

    Delightful lake, city & pool views - furnished comfy & pretty 2 bdrm split. Tiled living areas, new carpet in bedrooms, tons of custom closets. Large open eat-in kitchen with snack bar. Oversized tiled balcony with great views, covered parking, guard gated Biscayne Cove Clipper bldg. Excellent Aventura schools & community. 24/7 guard gated security/valet, gracious lobby, two pools, lit tennis, exercise rooms, library, spa, sauna, hot tub+. As-is, inspections welcome.

25. 2017-03-30
    price $249,000 489-char remark

    Show marketing remark (489 chars)

    Delightful lake, city & pool views - furnished comfy & pretty 2 bdrm split. Tiled living areas, new carpet in bedrooms, tons of custom closets. Large open eat-in kitchen with snack bar. Oversized tiled balcony with great views, covered parking, guard gated Biscayne Cove Clipper bldg. Excellent Aventura schools & community. 24/7 guard gated security/valet, gracious lobby, two pools, lit tennis, exercise rooms, library, spa, sauna, hot tub+. As-is, inspections welcome.

26. 2017-02-12
    price $259,000 489-char remark

    Show marketing remark (489 chars)

    Delightful lake, city & pool views - furnished comfy & pretty 2 bdrm split. Tiled living areas, new carpet in bedrooms, tons of custom closets. Large open eat-in kitchen with snack bar. Oversized tiled balcony with great views, covered parking, guard gated Biscayne Cove Clipper bldg. Excellent Aventura schools & community. 24/7 guard gated security/valet, gracious lobby, two pools, lit tennis, exercise rooms, library, spa, sauna, hot tub+. As-is, inspections welcome.

27. 2017-01-06
    listed $269,000 Active 489-char remark

    Show marketing remark (489 chars)

    Delightful lake, city & pool views - furnished comfy & pretty 2 bdrm split. Tiled living areas, new carpet in bedrooms, tons of custom closets. Large open eat-in kitchen with snack bar. Oversized tiled balcony with great views, covered parking, guard gated Biscayne Cove Clipper bldg. Excellent Aventura schools & community. 24/7 guard gated security/valet, gracious lobby, two pools, lit tennis, exercise rooms, library, spa, sauna, hot tub+. As-is, inspections welcome.

28. 1990-05-08
    soldstatus $93,000
29. 1982-03-01
    soldstatus $139,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $46,983
• − Mortgage interest: −$20,446
• − Property taxes: −$5,475
• − Insurance: −$1,825
• − Repairs & maintenance: −$3,759
• − Management: −$3,759
• − HOA: −$13,788
• − Depreciation: −$10,618
• Taxable loss: −$12,686
• Est. tax savings @ 24.0%: +$3,045
• After-tax cash flow: $-3,896/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 — Aventura

• Score: 80/100
• State rank: #127
• US rank: #1834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aventura, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,718
• Household income: $67,040
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 3106.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 46% White 44% Two or more races 27% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 8% Dominican 1% Salvadoran 4%
• Common ancestry: Scotch-Irish 8% Hispanic 3% Subsaharan African 3%
• Foreign-born: 61% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · Spanish 45% Russian/Polish/Slavic 12% Other Indo-European 5%

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: ▲ 0.53%
• Current HPI: 284.9293
• Rent YoY: ▲ 0.94%
• 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

+162.6% since first listed

16 events — show timeline

• 2026-02-24 Listed $365,000 MARMLS
• 2025-10-07 Listing Removed — MARMLS
• 2025-07-08 Price Changed $369,000 MARMLS
• 2025-04-26 Price Changed $400,000 MARMLS
• 2024-08-20 Price Changed $350,000 MARMLS
• 2023-12-26 Price Changed $360,000 MARMLS
• 2023-10-07 Listed $375,000 MARMLS
• 2017-06-27 Sold (Public Records) $230,000 Public Records
• 2017-06-23 Sold (MLS) $230,000 MARMLS
• 2017-06-20 Pending — MARMLS
• 2017-05-12 Pending — MARMLS
• 2017-03-30 Price Changed $249,000 MARMLS
• 2017-02-12 Price Changed $259,000 MARMLS
• 2017-01-06 Listed $269,000 MARMLS
• 1990-05-08 Sold (Public Records) $93,000 Public Records
• 1982-03-01 Sold (Public Records) $139,000 Public Records

Property tax history

-18.1%/yr

Latest (2025): $74 · -96.6% YoY. Source: county tax records.