3564 Magellan Cir Unit 211-1 · Aventura, FL 33180

$224,000

1 bd · 2.0 ba · 926 sqft · Condo · 102 Days on market

Built 1985 $769/mo HOA · 21% of rent ↓ 38% since listing

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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 +27.3/30.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

LOWEST PRICE FOR A GROUND FLOOR UNIT COMPARE, #213 closed for $220K WE ARE AT BELOW MARKET VALUE TO SELL in highly sought-after Mariner Village Very large 1/2 open floor plan with separate built in den/Office, large enough for a twin bed. Open kitchen with bright breakfast nook. Large Master bedroom with dual sinks and shower/tub combination, walk-in closet with plenty of space. Community pool by the Waterways marina, best location in Aventura, just steps from the Aventura Circle and next to the Waterways shops and 5 minutes to the Aventura Mall. Walking distance to house of worship, shopping and charter schools. Gated and pet friendly community with beautiful landscaping and plenty of ope

Key facts

• Breakfast nook
• Dual sinks
• Ground floor unit

Tags

• GROUND FLOOR UNIT
• BUILT IN DEN
• OPEN KITCHEN
• BREAKFAST NOOK
• DUAL SINKS
• WALK-IN CLOSET

Property features AI

Finance

• Other: Association heated pool
• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association amenities include a pool; Association covers management, common areas, internet, structure maintenance, parking, sewer, security, trash and water

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Complex fenced; Security guard
• Utilities: Cable available
• Home design: Property faces north; Entry at level 1; Has property attached; 1 story entry level, 2 stories total
• Construction: Block construction; Resale property
• Exterior features: Open porch; Porch

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Icemaker; Refrigerator; Eat-in kitchen
• Bedrooms: Bedroom on main level; Den
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Blinds and sliding windows; Breakfast area and eat-in kitchen; Closet cabinetry and walk-in closets; Dual sinks and tub/shower; Custom mirrors; Main living area on entry level; First-floor entry; Convertible bedroom
• Laundry & utility: Washer and dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $224k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $224k).
• Recommended offer: $204k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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.
• 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).
• Market conditions: Rents soft (-1.5%/yr); 993 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,750/mo this rent would consume 49% of the median local household income ($91k/yr) (locally 1838% 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 $2k of loan paydown is wiped out by about $7k 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 102 days — a 9% lower offer ($204k) 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,840 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.67% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.36%
• DSCR: 1.55
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.48×
• Total profit: $-32,530
• Equity at exit: $33,399

10-year hold

• IRR: -19.5%
• Equity multiple: 0.21×
• Total profit: $-49,603
• Equity at exit: $19,367

Cash invested: $62,720 (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 33180

• Rents YoY: -1.5%
• Active inventory: 993
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,750 high
• Mortgage (P&I): −$1,175
• Tax est. 1.5%: −$280 /mo · $3,360/yr
• Insurance: −$93
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$769
• Vacancy / Maint / Mgmt: −$788
• Net cashflow: $219

Break-even live

Break-even rent $3,473

Max offer price $224,000

Occupancy floor 89%

Sensitivity live

Price	-10% $374	-5% $297	+0% $219	+5% $142	+10% $64
Rent	-10% $-77	-5% $71	+0% $219	+5% $367	+10% $516
Rate	-1.0pp $332	-0.5pp $276	base $219	+0.5pp $161	+1.0pp $102

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: $56,000
• Closing costs: $6,720
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3180 S Ocean Dr #1709 Hallandale Beach, FL	2.0	2.0	1105	$4,000	$3.62	9d	1	0.84mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1263	$3,750	$2.97	22d	2	0.84mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1285	$3,650	$2.84	26d	3	0.84mi
3140 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1100	$4,250	$3.86	0d	3	0.86mi
2065 S Ocean Dr Unit 1049793P Hallandale Beach, FL	2.0	2.0	871	$4,971	$5.71	9d	1	0.87mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$3,900	$3.07	26d	7	0.89mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$3,800	$2.99	5d	11	0.89mi
2080 S Ocean Dr #8 Hallandale Beach, FL	2.0	2.0	1100	$4,000	$3.64	26d	1	0.90mi
1180 E Hallandale Beach Blvd Unit 1241877P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	5d	2	1.04mi
1950 S Ocean Dr Unit 12M Hallandale Beach, FL	1.0	1.5	870	$3,800	$4.37	4d	1	1.04mi
1950 S Ocean Dr Unit 12M Hallandale Beach, FL	1.0	1.5	870	$3,800	$4.37	19d	1	1.04mi
1950 S Ocean Dr Unit 3D Hallandale Beach, FL	1.0	1.5	870	$3,950	$4.54	14d	1	1.04mi
1950 S Ocean Dr Unit 3D Hallandale Beach, FL	1.0	1.5	870	$3,950	$4.54	7d	1	1.04mi
215 SE 5th St Hallandale Beach, FL	2.0–3.0	2.0	1133	$2,700	$2.38	26d	5	1.15mi
2602 E Hallandale Beach Blvd Unit 1227270P Hallandale Beach, FL	2.0	1.0–2.0	640	$3,224	$5.04	0d	3	1.19mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$4,750	$4.35	26d	3	1.21mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$4,219	$3.94	22d	4	1.21mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	26d	1	1.21mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	26d	1	1.21mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	26d	1	1.21mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	3d	2	1.21mi
101 Diplomat Pkwy Hallandale Beach, FL	1.0	1.0	859	$3,740	$4.35	26d	1	1.22mi
1850 S Ocean Dr #4009 Hallandale Beach, FL	2.0	1.0	1086	$3,900	$3.59	26d	1	1.26mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	5d	1	1.26mi
1850 S Ocean Dr #2909 Hallandale Beach, FL	2.0	1.0	1086	$4,050	$3.73	26d	1	1.26mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,300	$3.96	26d	1	1.26mi
1830 S Ocean Dr #4212 Hallandale Beach, FL	1.0	1.0	844	$3,800	$4.50	26d	1	1.29mi
1830 S Ocean Dr #3909 Hallandale Beach, FL	1.0	1.0	844	$5,000	$5.92	26d	1	1.29mi
1830 S Ocean Dr #4612 Hallandale Beach, FL	1.0	1.0	844	$4,950	$5.86	26d	1	1.29mi
1830 S Ocean Dr #4005 Hallandale Beach, FL	1.0	1.0	811	$4,600	$5.67	26d	1	1.29mi
1830 S Ocean Dr #1709 Hallandale Beach, FL	1.0	1.0	844	$4,500	$5.33	26d	1	1.29mi
1830 S Ocean Dr #4307 Hallandale Beach, FL	1.0	1.0	871	$4,100	$4.71	26d	1	1.29mi
1830 S Ocean Dr #3407 Hallandale Beach, FL	1.0	1.0	871	$4,000	$4.59	26d	1	1.29mi
1830 S Ocean Dr #4712 Hallandale Beach, FL	1.0	1.0	844	$3,950	$4.68	26d	1	1.29mi
1830 S Ocean Dr #4309 Hallandale Beach, FL	1.0	1.0	844	$3,900	$4.62	26d	1	1.29mi
1830 S Ocean Dr #1107 Hallandale Beach, FL	1.0	1.0	871	$3,750	$4.31	26d	1	1.29mi
1830 S Ocean Dr #1812 Hallandale Beach, FL	1.0	1.0	844	$4,999	$5.92	22d	1	1.29mi
1830 S Ocean Dr #2409 Hallandale Beach, FL	1.0	1.0	844	$4,300	$5.09	16d	1	1.29mi
1830 S Ocean Dr #2412 Hallandale Beach, FL	1.0	1.0	844	$3,600	$4.27	12d	1	1.29mi
1830 S Ocean Dr #4412 Hallandale Beach, FL	1.0	1.0	844	$4,500	$5.33	9d	1	1.29mi

HOA detail condo

• Monthly dues: $769 · $9,228/yr
• Likely covers: waterlandscapingpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 44 events

1. 2026-05-16
   status Pending
2. 2026-05-13
   historical Active Under Contract
3. 2026-04-12
   price $224,000
4. 2026-02-03
   price $225,000
5. 2026-02-03
   listed $220,000 Active
6. 2026-01-31
   historical
7. 2026-01-02
   price $220,000
8. 2025-12-17
   price $225,000
9. 2025-11-22
   price $230,000
10. 2025-11-11
    price $235,000
11. 2025-11-03
    price $240,000
12. 2025-10-28
    price $242,500
13. 2025-10-20
    price $245,000
14. 2025-10-03
    price $247,500
15. 2025-09-25
    price $250,000
16. 2025-09-15
    price $254,000
17. 2025-09-12
    price $257,000
18. 2025-08-25
    price $260,000
19. 2025-08-18
    price $262,000
20. 2025-08-05
    price $265,000
21. 2025-07-28
    price $268,000
22. 2025-07-21
    price $270,000
23. 2025-07-08
    price $275,000
24. 2025-06-10
    price $280,000
25. 2025-05-19
    price $285,000
26. 2025-05-03
    price $290,000
27. 2025-04-10
    price $295,000
28. 2025-04-01
    price $305,000
29. 2025-02-25
    price $310,000
30. 2025-02-04
    price $315,000
31. 2025-01-02
    price $319,000
32. 2024-11-18
    listed $320,000 Active
33. 2024-11-06
    historical
34. 2024-10-21
    price $319,500
35. 2024-09-24
    price $320,000
36. 2024-09-18
    price $325,000
37. 2024-09-09
    price $330,000
38. 2024-09-04
    price $335,000
39. 2024-08-26
    price $340,000
40. 2024-08-20
    price $345,000
41. 2024-08-16
    price $348,000
42. 2024-08-05
    price $350,000
43. 2024-07-31
    price $357,000
44. 2024-07-10
    listed $360,000 Active

ⓘ 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 7/10 Severe FEMA zone AE · 94% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 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: $45,005
• − Mortgage interest: −$12,547
• − Property taxes: −$3,360
• − Insurance: −$6,238
• − Repairs & maintenance: −$3,600
• − Management: −$3,600
• − HOA: −$9,228
• − Depreciation: −$6,516
• Taxable loss: −$86
• Est. tax savings @ 24.0%: +$21
• After-tax cash flow: $2,652/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)

No district data.

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): 34,147
• Household income: $91,055
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1838.0

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: White 46% Hispanic / Latino 45% Two or more races 28% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 7% Dominican 1% Salvadoran 6%
• Common ancestry: Scotch-Irish 5% Romanian 5% Italian 3%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 30% English-only · Spanish 49% Other Indo-European 6% Russian/Polish/Slavic 4%

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: ▼ -343.81%
• Current HPI: 234.7715
• Rent YoY: ▼ -1.51%
• 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

-37.8% since first listed

44 events — show timeline

• 2026-05-16 Pending — MARMLS
• 2026-05-13 Contingent — MARMLS
• 2026-04-12 Price Changed $224,000 MARMLS
• 2026-02-03 Price Changed $225,000 MARMLS
• 2026-02-03 Listed $220,000 MARMLS
• 2026-01-31 Listing Removed — MARMLS
• 2026-01-02 Price Changed $220,000 MARMLS
• 2025-12-17 Price Changed $225,000 MARMLS
• 2025-11-22 Price Changed $230,000 MARMLS
• 2025-11-11 Price Changed $235,000 MARMLS
• 2025-11-03 Price Changed $240,000 MARMLS
• 2025-10-28 Price Changed $242,500 MARMLS
• 2025-10-20 Price Changed $245,000 MARMLS
• 2025-10-03 Price Changed $247,500 MARMLS
• 2025-09-25 Price Changed $250,000 MARMLS
• 2025-09-15 Price Changed $254,000 MARMLS
• 2025-09-12 Price Changed $257,000 MARMLS
• 2025-08-25 Price Changed $260,000 MARMLS
• 2025-08-18 Price Changed $262,000 MARMLS
• 2025-08-05 Price Changed $265,000 MARMLS
• 2025-07-28 Price Changed $268,000 MARMLS
• 2025-07-21 Price Changed $270,000 MARMLS
• 2025-07-08 Price Changed $275,000 MARMLS
• 2025-06-10 Price Changed $280,000 MARMLS
• 2025-05-19 Price Changed $285,000 MARMLS
• 2025-05-03 Price Changed $290,000 MARMLS
• 2025-04-10 Price Changed $295,000 MARMLS
• 2025-04-01 Price Changed $305,000 MARMLS
• 2025-02-25 Price Changed $310,000 MARMLS
• 2025-02-04 Price Changed $315,000 MARMLS
• 2025-01-02 Price Changed $319,000 MARMLS
• 2024-11-18 Listed $320,000 MARMLS
• 2024-11-06 Listing Removed — MARMLS
• 2024-10-21 Price Changed $319,500 MARMLS
• 2024-09-24 Price Changed $320,000 MARMLS
• 2024-09-18 Price Changed $325,000 MARMLS
• 2024-09-09 Price Changed $330,000 MARMLS
• 2024-09-04 Price Changed $335,000 MARMLS
• 2024-08-26 Price Changed $340,000 MARMLS
• 2024-08-20 Price Changed $345,000 MARMLS
• 2024-08-16 Price Changed $348,000 MARMLS
• 2024-08-05 Price Changed $350,000 MARMLS
• 2024-07-31 Price Changed $357,000 MARMLS
• 2024-07-10 Listed $360,000 MARMLS