13685 NE 10th Ave #209 · North Miami, FL 33161

$169,000

1 bd · 1.0 ba · 791 sqft · Condo public records · 179 Days on market

Built 1974

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in North Miami — strong, simple cash-flowing asset with upside. Tenant in place for 1 year paying $1,500/month. Low HOA of just $200/month. Building comes with assigned parking and has reserves in place, plus it has successfully passed both the 40- and 50-year recertifications. Cash only. Investor-focused building with no rental restrictions.

Key facts

• Garage
• Community pool
• Built 1974

Property features AI

Finance

• Financial info: Lease considered; Pets: conditional or not allowed; restrictions may apply
• HOA & community: Monthly association fee (approximately $200); HOA covers electricity, sewer and trash; Association amenities: pool, elevators

Exterior

• Parking: 1-car garage; One covered parking space
• Security: Security system; Gated/complex fenced; Secured elevator
• Utilities: Association pool
• Home design: 4-story building; Entry on 2nd level; Updated/remodeled; Attached property
• Construction: Block construction; Resale property
• Exterior features: Balcony; Enclosed porch; Patio; Screened porch/patio

Interior

• Kitchen: Built-in oven; Dishwasher; Microwave; Refrigerator; Water purifier
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Dining area; Kitchen/dining combo; Elevator; Second floor entry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 4.1% in North 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, employment D.
• 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 soft (-0.7%/yr); 338 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,128/mo this rent would consume 64% of the median local household income ($58k/yr) (locally 3226% 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $47k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y ago; this cycle's ask has dropped $16k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; list at $169k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.85% ✓
• Cap rate: 13.49%
• Cash-on-cash: 25.69%
• DSCR: 2.14
• GRM: 4.5

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: 15.5%
• Equity multiple: 1.60×
• Total profit: $28,204
• Equity at exit: $25,198

10-year hold

• IRR: 21.5%
• Equity multiple: 2.55×
• Total profit: $73,142
• Equity at exit: $14,612

Cash invested: $47,320 (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 33161

• Rents YoY: -0.7%
• Active inventory: 338
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $3,128 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$197 /mo · $2,367/yr
• Insurance: −$70
• HOA est. from 3 same-building comps: −$304
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $1,013

Break-even live

Break-even rent $1,845

Max offer price $169,000

Occupancy floor 63%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 NE 135th St #904 North Miami, FL	2.0	2.0	963	$23,509	$24.41	15d	1	1.46mi
2020 NE 135th St North Miami, FL	2.0	2.0	963	$23,509	$24.41	14d	1	1.46mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-04-23
   price $169,000
2. 2026-02-23
   price $175,000
3. 2025-11-27
   listed $185,000 Active
4. 2025-11-25
   historical $1,490
5. 2025-10-28
   listed $1,490
6. 2025-10-09
   historical $1,600
7. 2025-09-23
   listed $1,600
8. 2025-09-22
   historical $1,600
9. 2025-09-12
   listed $1,600
10. 2025-09-08
    historical $1,550
11. 2025-08-19
    listed $1,550
12. 2025-08-06
    historical $1,550
13. 2025-07-30
    listed $1,550
14. 2025-07-15
    historical $1,550
15. 2025-07-12
    price $1,550
16. 2025-06-07
    listed $1,600
17. 2021-10-19
    soldstatus $105,000
18. 2021-09-17
    historical
19. 2021-09-07
    historical Active Under Contract
20. 2021-09-02
    listed $120,500 Active
21. 2004-10-19
    soldstatus $65,000
22. 1983-08-01
    soldstatus $37,500

ⓘ 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: $2,367 · $197/mo
• Projected year-2 tax: $2,367 · $197/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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 29 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: $37,535
• − Mortgage interest: −$9,467
• − Property taxes: −$2,367
• − Insurance: −$845
• − Repairs & maintenance: −$3,003
• − Management: −$3,003
• − HOA: −$3,648
• − Depreciation: −$4,916
• Taxable income: $10,287
• Est. tax owed @ 24.0%: −$2,469
• After-tax cash flow: $9,689/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 — North Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

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 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% 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: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• 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

+350.7% since first listed

22 events — show timeline

• 2026-04-23 Price Changed $169,000 MARMLS
• 2026-02-23 Price Changed $175,000 MARMLS
• 2025-11-27 Listed $185,000 MARMLS
• 2025-11-25 Rental Removed $1,490 MARMLS
• 2025-10-28 Listed for Rent $1,490 MARMLS
• 2025-10-09 Rental Removed $1,600 MARMLS
• 2025-09-23 Listed for Rent $1,600 MARMLS
• 2025-09-22 Rental Removed $1,600 REALLYO
• 2025-09-12 Listed for Rent $1,600 REALLYO
• 2025-09-08 Rental Removed $1,550 MARMLS
• 2025-08-19 Listed for Rent $1,550 MARMLS
• 2025-08-06 Rental Removed $1,550 MARMLS
• 2025-07-30 Listed for Rent $1,550 MARMLS
• 2025-07-15 Rental Removed $1,550 MARMLS
• 2025-07-12 Price Changed $1,550 MARMLS
• 2025-06-07 Listed for Rent $1,600 MARMLS
• 2021-10-19 Sold (Public Records) $105,000 Public Records
• 2021-09-17 Listing Removed — MARMLS
• 2021-09-07 Contingent — MARMLS
• 2021-09-02 Listed $120,500 MARMLS
• 2004-10-19 Sold (Public Records) $65,000 Public Records
• 1983-08-01 Sold (Public Records) $37,500 Public Records

Property tax history

+9.2%/yr

Latest (2025): $2,367 · -0.1% YoY. Source: county tax records.