121 NE 34th St #2810 · Miami, FL 33137

$475,000

1 bd · 1.0 ba · 593 sqft · Condo public records · 19 Days on market

Built 2018 $150/mo HOA · 4% 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 +8.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0

Listing remarks

Located in one of Miami's most desirable areas, this elegant 1-bedroom, 1-bathroom apartment boasts a prime southeast orientation with stunning city views. The unit features a contemporary design, waterproof laminate flooring throughout, and a spacious terrace perfect for enjoying the urban landscape. Situated in Hyde Midtown, one of the area's most exclusive and modern buildings, the property offers top-tier resort-style amenities: a pool with cabanas, a tennis court, a state-of-the-art gym, a full-service spa, a sauna, a teen game room, a playroom, a club room, and a private cinema. Residents also enjoy on-demand 5-star hotel-style services, including an outdoor restaurant and bar with ro

Key facts

• Spacious terrace
• Stunning city views
• Pool with cabanas

Tags

• SOUTHEAST ORIENTATION
• STUNNING CITY VIEWS
• WATERPROOF LAMINATE FLOORING
• SPACIOUS TERRACE
• RESORT-STYLE AMENITIES
• POOL WITH CABANAS

Property features AI

Finance

• Other: Association pool is heated
• Financial info: Lease considered; Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee of $150; Association fee includes amenities, cable TV, grounds maintenance, pool(s), reserve fund, and security; Community amenities include cabana, clubhouse, fitness center, pool, tennis courts, and elevators

Exterior

• Parking: 1 covered garage space; Garage with door opener; One additional designated space
• Security: Doorman; Secured lobby
• Utilities: Cable available
• Home design: High-rise building (31 stories); Resale unit; Attached property; Entry level: 28
• Construction: Block construction
• Exterior features: Balcony; Deck; Open patio/porch

Interior

• Kitchen: Gas range; Microwave
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Impact glass windows; Skylights; Closet cabinetry; Eat-in kitchen; Kitchen/dining combo; Handicap access; Elevator installed
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $475k.

Deal economics

• At list price, monthly cash flow is $-485 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $389k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $382k (19.6% below list).
• Recommended offer: $382k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 1.9% in 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 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, 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 rising (+2.7%/yr); 757 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,820/mo this rent would consume 49% of the median local household income ($94k/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 $5k of equity ($3k loan paydown + $1k appreciation (0.3% 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 ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($468k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 7y ago; this cycle's ask is 13471% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $356k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $381,962 (19.6% 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. 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 B-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?
6. Crime grade is F 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.37%
• DSCR: 0.81
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.70×
• Total profit: $-39,496
• Equity at exit: $144,418

10-year hold

• IRR: -0.6%
• Equity multiple: 0.94×
• Total profit: $-8,283
• Equity at exit: $178,867

Cash invested: $133,000 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 757
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $3,820 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$663 /mo · $7,958/yr
• Insurance: −$198
• HOA: −$150
• Vacancy / Maint / Mgmt: −$802
• Net cashflow: $-485

Break-even live

Break-even rent $4,433

Max offer price $389,401

Occupancy floor —

Sensitivity live

Price	-10% $-216	-5% $-350	+0% $-485	+5% $-619	+10% $-753
Rent	-10% $-786	-5% $-635	+0% $-485	+5% $-334	+10% $-183
Rate	-1.0pp $-245	-0.5pp $-364	base $-485	+0.5pp $-608	+1.0pp $-733

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$8,110	$6.44	3d	13	0.28mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-21
   days on market $475,000 Active 19 DOM
2. 2026-06-18
   days on market $475,000 Active 16 DOM
3. 2026-06-17
   days on market $475,000 Active 15 DOM
4. 2026-06-16
   days on market $475,000 Active 14 DOM
5. 2026-06-15
   days on market $475,000 Active 13 DOM
6. 2026-06-13
   days on market $475,000 Active 11 DOM
7. 2026-06-09
   days on market $475,000 Active 7 DOM
8. 2026-06-08
   days on market $475,000 Active 6 DOM
9. 2026-06-07
   days on market $475,000 Active 5 DOM
10. 2026-06-04
    remarks 699-char remark
11. 2026-06-04
    listed $475,000 Active 2 DOM

ⓘ 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: $7,958 · $663/mo
• Projected year-2 tax: $7,958 · $663/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,835
• − Mortgage interest: −$26,607
• − Property taxes: −$7,958
• − Insurance: −$2,375
• − Repairs & maintenance: −$3,667
• − Management: −$3,667
• − HOA: −$1,800
• − Depreciation: −$13,818
• Taxable loss: −$14,057
• Est. tax savings @ 24.0%: +$3,374
• After-tax cash flow: $-2,441/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 — Miami

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% 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 0.63)
• Race & ethnicity: Hispanic / Latino 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% 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: ▲ 0.27%
• Current HPI: 385.1514
• Rent YoY: ▲ 2.73%
• 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

+11.8% since first listed

26 events — show timeline

• 2026-06-03 Price Changed $475,000 MARMLS
• 2026-06-03 Relisted — MARMLS
• 2026-04-29 Rental Removed $3,500 MARMLS
• 2026-04-29 Listed for Rent $3,500 MARMLS
• 2026-04-29 Listing Removed — MARMLS
• 2026-04-27 Listed $470,000 MARMLS
• 2025-06-30 Listing Removed — MARMLS
• 2024-12-16 Listed $495,000 MARMLS
• 2024-12-13 Listing Removed — MARMLS
• 2024-05-16 Price Changed $495,000 MARMLS
• 2023-12-14 Listed $515,000 MARMLS
• 2021-05-25 Sold (Public Records) $356,000 Public Records
• 2021-04-21 Sold (MLS) $356,000 MARMLS
• 2021-02-22 Pending — MARMLS
• 2021-02-08 Listed $360,000 MARMLS
• 2020-05-09 Listing Removed — MARMLS
• 2020-03-17 Relisted — MARMLS
• 2020-02-19 Delisted — MARMLS
• 2020-01-27 Listed $385,000 MARMLS
• 2019-07-12 Listing Removed — MARMLS
• 2019-03-27 Price Changed $385,000 MARMLS
• 2019-02-14 Listed $395,000 MARMLS
• 2019-01-29 Relisted — MARMLS
• 2019-01-29 Listing Removed — MARMLS
• 2019-01-29 Listing Removed — MARMLS
• 2019-01-28 Listed $425,000 MARMLS

Property tax history

+50.9%/yr

Latest (2025): $7,958 · +6.7% YoY. Source: county tax records.