18181 NE 31st Ct #1009 · Aventura, FL 33160

$449,000

3 bd · 2.0 ba · 1,571 sqft · Condo public records · 138 Days on market

Built 1981 $1508/mo HOA · 27% 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).

• Cash flow +11.8/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Amazing apartment on sale completely remodeled 3 BR & 2,5 BA !! Must see!! Spectacular view of Intracostal, Dumfoundling Bay & Atlantic Ocean. Is located in the heart Aventura near Veterans Park, William Island & Charter School. Italian marble floors, kitchen features all modern wood cabinets appliances, bathrooms with marble flooring, designer faucets and toilets, plenty of other amenities: 2 big pools with jacuzzi, 2 gyms and meeting room. Near the beaches, Aventura Mall and access to the I-95 & airport. 24 hours security and plenty of other amenities.

Key facts

• Marble flooring
• Walk-in closets
• 24/7 security

Tags

• MARBLE FLOORING
• WALK-IN CLOSETS
• MODERN KITCHEN
• RESORT-STYLE AMENITIES
• 24/7 SECURITY
• VALET

Property features AI

Finance

• Other: Association-managed building
• Financial info: Pets allowed with restrictions (maximum 20 lbs)
• HOA & community: Monthly association fee; Association amenities include clubhouse, fitness center, laundry, barbecue, picnic area, pool, and elevators; Association covers management, common areas, and structural maintenance

Exterior

• Parking: One covered parking space (garage)
• Security: Secured lobby; Security guard
• Utilities: Central air
• Home design: Attached property; 27-story building; Entry on level 10
• Construction: Block construction; Resale property
• Exterior features: Bay-front waterfront; Association pool; Lobby with secured entry; On-site security guard

Interior

• Flooring: Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning
• Interior features: Tile floors; Other interior features
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $449k.

Deal economics

• At list price, monthly cash flow is $-550 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $352k (21.6% below list).
• Meets the 1% rule at list price ($6k rent vs $449k).
• Recommended offer: $352k (21.6% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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: health & safety A+, amenities A, commute 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.
• Zoned schools: Aventura Waterways K-8 Center (math 56% / reading 65%, grade B-, #664 of 2,144 statewide, top 32%, 2,168 students, 32% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Dr. Michael M. Krop Senior High (math 21% / reading 46%, grade F, #400 of 667 statewide, top 61%, 2,235 students, 49% FRL) — zoned schools average 44% FRL vs 64% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 1879 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k 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 6, 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 138 days — a 12% lower offer ($395k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 17y 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 $369k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 27% of rent.
• 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $351,893 (21.6% 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 138 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
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 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.25% ✓
• Cap rate: 5.96%
• Cash-on-cash: -1.18%
• DSCR: 0.95
• GRM: 6.6

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: -7.8%
• Equity multiple: 0.63×
• Total profit: $-47,090
• Equity at exit: $142,330

10-year hold

• IRR: -4.0%
• Equity multiple: 0.57×
• Total profit: $-54,125
• Equity at exit: $180,945

Cash invested: $125,720 (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: 1879
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $5,627 medium
• Mortgage (P&I): −$2,355
• Tax from tax record: −$519 /mo · $6,228/yr
• Insurance: −$187
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,508
• Vacancy / Maint / Mgmt: −$1,182
• Net cashflow: $-550

Break-even live

Break-even rent $6,323

Max offer price $351,893

Occupancy floor —

Sensitivity live

Price	-10% $-296	-5% $-423	+0% $-550	+5% $-677	+10% $-804
Rent	-10% $-994	-5% $-772	+0% $-550	+5% $-327	+10% $-105
Rate	-1.0pp $-324	-0.5pp $-436	base $-550	+0.5pp $-666	+1.0pp $-784

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17875 Collins Ave Sunny Isles Beach, FL	3.0	3.0–4.0	2383	$22,500	$9.44	0d	4	1.17mi
17141 Collins Ave Sunny Isles Beach, FL	3.0	2.5	2042	$19,000	$9.30	26d	1	1.29mi
17141 Collins Ave #4602 Sunny Isles Beach, FL	2.0	2.5	2042	$25,000	$12.24	9d	1	1.29mi
17141 Collins Ave #4602 Sunny Isles Beach, FL	2.0	2.5	2042	$25,000	$12.24	7d	1	1.29mi

HOA detail condo

• Monthly dues: $1,508 · $18,096/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $449,000 Active 138 DOM
2. 2026-06-18
   days on market $449,000 Active 135 DOM
3. 2026-06-17
   days on market $449,000 Active 134 DOM
4. 2026-06-16
   days on market $449,000 Active 133 DOM
5. 2026-06-15
   days on market $449,000 Active 132 DOM
6. 2026-06-13
   days on market $449,000 Active 130 DOM
7. 2026-06-09
   days on market $449,000 Active 126 DOM
8. 2026-06-08
   days on market $449,000 Active 125 DOM
9. 2026-06-07
   days on market $449,000 Active 124 DOM
10. 2026-06-04
    days on market $449,000 Active 121 DOM
11. 2026-06-03
    days on market $449,000 Active 120 DOM
12. 2026-06-02
    days on market $449,000 Active 119 DOM
13. 2026-06-01
    days on market $449,000 Active 118 DOM
14. 2026-05-31
    days on market $449,000 Active 117 DOM
15. 2026-02-03
    listed $449,000 Active
16. 2026-01-20
    historical
17. 2025-11-05
    historical $3,800
18. 2025-09-17
    listed $479,000 Active
19. 2025-07-30
    price $3,800
20. 2025-07-05
    price $4,200
21. 2025-06-16
    listed $4,500
22. 2021-06-02
    soldstatus $369,000
23. 2021-05-25
    soldstatus $369,000 Closed 585-char remark

    Show marketing remark (585 chars)

    Amazing apartment on sale completely remodeled 3 BR & 2,5 BA !! Must see!! Spectacular view of Intracostal, Dumfoundling Bay & Atlantic Ocean. Is located in the heart Aventura near Veterans Park, William Island & Charter School. Italian marble floors, kitchen features all modern wood cabinets appliances, bathrooms with marble flooring, designer faucets and toilets, plenty of other amenities: 2 big pools with jacuzzi, 2 gyms and meeting room. Near the beaches, Aventura Mall and access to the I-95 & airport. 24 hours security and plenty of other amenities.

24. 2021-05-13
    status Pending 585-char remark

    Show marketing remark (585 chars)

    Amazing apartment on sale completely remodeled 3 BR & 2,5 BA !! Must see!! Spectacular view of Intracostal, Dumfoundling Bay & Atlantic Ocean. Is located in the heart Aventura near Veterans Park, William Island & Charter School. Italian marble floors, kitchen features all modern wood cabinets appliances, bathrooms with marble flooring, designer faucets and toilets, plenty of other amenities: 2 big pools with jacuzzi, 2 gyms and meeting room. Near the beaches, Aventura Mall and access to the I-95 & airport. 24 hours security and plenty of other amenities.

25. 2021-03-26
    historical Active Under Contract 585-char remark

    Show marketing remark (585 chars)

    Amazing apartment on sale completely remodeled 3 BR & 2,5 BA !! Must see!! Spectacular view of Intracostal, Dumfoundling Bay & Atlantic Ocean. Is located in the heart Aventura near Veterans Park, William Island & Charter School. Italian marble floors, kitchen features all modern wood cabinets appliances, bathrooms with marble flooring, designer faucets and toilets, plenty of other amenities: 2 big pools with jacuzzi, 2 gyms and meeting room. Near the beaches, Aventura Mall and access to the I-95 & airport. 24 hours security and plenty of other amenities.

26. 2021-03-01
    price $369,000 585-char remark

    Show marketing remark (585 chars)

    Amazing apartment on sale completely remodeled 3 BR & 2,5 BA !! Must see!! Spectacular view of Intracostal, Dumfoundling Bay & Atlantic Ocean. Is located in the heart Aventura near Veterans Park, William Island & Charter School. Italian marble floors, kitchen features all modern wood cabinets appliances, bathrooms with marble flooring, designer faucets and toilets, plenty of other amenities: 2 big pools with jacuzzi, 2 gyms and meeting room. Near the beaches, Aventura Mall and access to the I-95 & airport. 24 hours security and plenty of other amenities.

27. 2021-02-26
    price $376,000 585-char remark

    Show marketing remark (585 chars)

    Amazing apartment on sale completely remodeled 3 BR & 2,5 BA !! Must see!! Spectacular view of Intracostal, Dumfoundling Bay & Atlantic Ocean. Is located in the heart Aventura near Veterans Park, William Island & Charter School. Italian marble floors, kitchen features all modern wood cabinets appliances, bathrooms with marble flooring, designer faucets and toilets, plenty of other amenities: 2 big pools with jacuzzi, 2 gyms and meeting room. Near the beaches, Aventura Mall and access to the I-95 & airport. 24 hours security and plenty of other amenities.

28. 2021-01-05
    listed $375,000 Active 585-char remark

    Show marketing remark (585 chars)

    Amazing apartment on sale completely remodeled 3 BR & 2,5 BA !! Must see!! Spectacular view of Intracostal, Dumfoundling Bay & Atlantic Ocean. Is located in the heart Aventura near Veterans Park, William Island & Charter School. Italian marble floors, kitchen features all modern wood cabinets appliances, bathrooms with marble flooring, designer faucets and toilets, plenty of other amenities: 2 big pools with jacuzzi, 2 gyms and meeting room. Near the beaches, Aventura Mall and access to the I-95 & airport. 24 hours security and plenty of other amenities.

29. 2017-12-07
    soldstatus $365,000
30. 2017-11-29
    soldstatus $364,000 Sold
31. 2017-11-07
    status Pending
32. 2017-10-09
    listed $374,000 Active
33. 2017-06-27
    historical
34. 2017-04-20
    listed $444,000 Active
35. 2015-04-25
    historical
36. 2014-11-30
    listed $449,400
37. 2014-10-28
    historical
38. 2014-08-06
    listed $449,400
39. 2014-08-06
    historical
40. 2014-07-12
    listed $449,400
41. 2014-07-09
    historical
42. 2013-07-25
    listed $444,000
43. 2011-06-03
    historical
44. 2010-06-03
    listed $450,000
45. 2010-06-03
    historical
46. 2009-06-04
    listed $450,000
47. 1994-11-15
    soldstatus $148,000
48. 1993-03-19
    soldstatus $130,000
49. 1993-03-01
    soldstatus $130,000
50. 1987-10-28
    soldstatus $132,900

ⓘ 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: $6,228 · $519/mo
• Projected year-2 tax: $6,228 · $519/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 · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,527
• − Mortgage interest: −$25,151
• − Property taxes: −$6,228
• − Insurance: −$7,364
• − Repairs & maintenance: −$5,402
• − Management: −$5,402
• − HOA: −$18,096
• − Depreciation: −$13,062
• Taxable loss: −$13,178
• Est. tax savings @ 24.0%: +$3,163
• After-tax cash flow: $-3,434/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
• City population: 34,147
• 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

+237.8% since first listed

36 events — show timeline

• 2026-02-03 Listed $449,000 MARMLS
• 2026-01-20 Listing Removed — MARMLS
• 2025-11-05 Rental Removed $3,800 MARMLS
• 2025-09-17 Listed $479,000 MARMLS
• 2025-07-30 Price Changed $3,800 MARMLS
• 2025-07-05 Price Changed $4,200 MARMLS
• 2025-06-16 Listed for Rent $4,500 MARMLS
• 2021-06-02 Sold (Public Records) $369,000 Public Records
• 2021-05-25 Sold (MLS) $369,000 MARMLS
• 2021-05-13 Pending — MARMLS
• 2021-03-26 Contingent — MARMLS
• 2021-03-01 Price Changed $369,000 MARMLS
• 2021-02-26 Price Changed $376,000 MARMLS
• 2021-01-05 Listed $375,000 MARMLS
• 2017-12-07 Sold (Public Records) $365,000 Public Records
• 2017-11-29 Sold (MLS) $364,000 MARMLS
• 2017-11-07 Pending — MARMLS
• 2017-10-09 Listed $374,000 MARMLS
• 2017-06-27 Listing Removed — MARMLS
• 2017-04-20 Listed $444,000 MARMLS
• 2015-04-25 Listing Removed — Beaches MLS
• 2014-11-30 Listed $449,400 Beaches MLS
• 2014-10-28 Listing Removed — Beaches MLS
• 2014-08-06 Listing Removed — Beaches MLS
• 2014-08-06 Listed $449,400 Beaches MLS
• 2014-07-12 Listed $449,400 Beaches MLS
• 2014-07-09 Listing Removed — Beaches MLS
• 2013-07-25 Listed $444,000 Beaches MLS
• 2011-06-03 Listing Removed — Beaches MLS
• 2010-06-03 Listing Removed — Beaches MLS
• 2010-06-03 Listed $450,000 Beaches MLS
• 2009-06-04 Listed $450,000 Beaches MLS
• 1994-11-15 Sold (Public Records) $148,000 Public Records
• 1993-03-19 Sold (Public Records) $130,000 Public Records
• 1993-03-01 Sold (Public Records) $130,000 Public Records
• 1987-10-28 Sold (Public Records) $132,900 Public Records

Property tax history

+8.6%/yr

Latest (2025): $6,228 · +5.9% YoY. Source: county tax records.