11111 Biscayne Blvd #912 · Miami, FL 33181

$275,000

2 bd · 2.0 ba · 1,383 sqft · Condo · 128 Days on market

Built 1968 Good condition Garage $199/sqft · 19% below area Est $340k · 19% under $1740/mo HOA · 41% 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 +15.0/15.0
• 1% rule +10.0/10.0
• Cash flow +7.8/30.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 2BR/2BA waterfront condo with stunning bay and ocean views. Just under 1,400 sqft in a rapidly growing area. Both bedrooms feature ensuite bathrooms and generous closet space. Located in a gated community with 24/7 security at the gate and lobby. Enjoy the bayfront swimming pool and serene coastal views from this very well priced unit. 40 year recertification and Structural Integrity Reserve Study have been completed.

Key facts

• Gated community
• Waterfront condo
• 24/7 security

Tags

• WATERFRONT CONDO
• BAY AND OCEAN VIEWS
• GATED COMMUNITY
• 24/7 SECURITY
• BAYFRONT SWIMMING POOL
• COASTAL VIEWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $275k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-303 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (15.9% below list).
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $231k (15.9% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 1.4% 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.
• Zoned schools: David Lawrence Jr. K-8 Center (math 43% / reading 50%, grade D-, #1,223 of 2,144 statewide, top 57%, 1,282 students, 55% FRL); North Miami Middle School (math 25% / reading 31%, grade F, #486 of 571 statewide, top 86%, 807 students, 71% FRL); Alonzo & Tracy Mourning Senior High School (math 38% / reading 50%, grade F, #244 of 667 statewide, top 37%, 1,597 students, 48% FRL).
• Market conditions: Rents soft (-0.1%/yr); 461 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,225/mo this rent would consume 80% of the median local household income ($63k/yr) (locally 24% 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 $8k 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 128 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 9383% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.

Recommended offer $231,207 (15.9% 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 128 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
9. 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?
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: 1.54% ✓
• Cap rate: 4.97%
• Cash-on-cash: -4.72%
• DSCR: 0.79
• GRM: 5.4

CMA / ARV

• ARV (median comp): $340,448
• List price: $275,000
• Delta: -19.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1000 Quayside Ter #1604	0.44mi	2/2.0	1,312 (-5%)	0mo	$320,000	$244	71
4000 Towerside Ter #1210	0.42mi	2/2.0	1,268 (-8%)	0mo	$287,000	$226	66
13105 NE 13th Ave	1.28mi	3/2.0 (+1)	1,392 (+1%)	0mo	$590,000	$424	59
2000 Towerside Ter #905	0.52mi	2/2.0	1,520 (+10%)	1mo	$260,000	$171	58
2205 1/2 NE 123rd St #2205	1.00mi	2/2.5	1,444 (+4%)	0mo	$739,500	$512	56
1390 NE 129th St	1.10mi	2/2.0	1,290 (-7%)	1mo	$460,000	$357	53
1470 NE 123rd St Unit A701	0.72mi	2/2.0	1,260 (-9%)	1mo	$245,000	$194	51
790 NE 96th St	1.49mi	3/3.5 (+1)	1,419 (+3%)	1mo	$1,250,000	$881	49
1200 NE 131st St	1.29mi	2/2.0	1,539 (+11%)	0mo	$489,990	$318	46
870 NE 97th St	1.37mi	3/2.5 (+1)	1,479 (+7%)	1mo	$1,015,000	$686	46
1310 NE 130th St	1.19mi	2/2.0	1,122 (-19%)	0mo	$357,000	$318	40
1285 NE 103rd St	0.73mi	3/3.0 (+1)	1,609 (+16%)	0mo	$1,528,000	$950	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -31.1%
• Equity multiple: 0.02×
• Total profit: $-75,086
• Equity at exit: $41,003

10-year hold

• IRR: -86.8%
• Equity multiple: -0.73×
• Total profit: $-133,453
• Equity at exit: $23,777

Cash invested: $77,000 (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 →

Active competition Active MLS

• For sale now: 1 active · 3 under contract
• Median asking: $450,000 ($296/sqft)
• Median days on market: 95 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -16.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33181

• Rents YoY: -0.1%
• Active inventory: 461
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $4,225 medium
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$1,740
• Vacancy / Maint / Mgmt: −$887
• Net cashflow: $-303

Break-even live

Break-even rent $4,608

Max offer price $231,207

Occupancy floor —

Sensitivity live

Price	-10% $-113	-5% $-208	+0% $-303	+5% $-398	+10% $-493
Rent	-10% $-636	-5% $-470	+0% $-303	+5% $-136	+10% $31
Rate	-1.0pp $-164	-0.5pp $-233	base $-303	+0.5pp $-374	+1.0pp $-446

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: $68,750
• Closing costs: $8,250
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Financial info: Pets allowed conditionally; restrictions or possible restrictions
• HOA & community: Monthly association feeAssociation fee covers common areas and structure maintenanceAssociation amenities include pool

Exterior

• Parking: 1 covered garage spaceAdditional spaces available (two or more spaces, valet)
• Security: Lobby securedSecurity guard
• Utilities: Central heating and cooling
• Home design: Attached propertyLocated on entry level 9Has a viewTotal stories: 22
• Construction: Block constructionYear built: Unknown
• Exterior features: Storm/security shuttersBay front waterfront with seawallAssociation pool

Interior

• Kitchen: DishwasherElectric rangeMicrowaveRefrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: CarpetTile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: BlindsCloset cabinetryWalk-in closet(s)Bedroom on main level

HOA detail $1,740/mo · $20,880/yr condo

• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-23
   days on market $275,000 Active 128 DOM
2. 2026-09-22
   days on market $275,000 Active 127 DOM
3. 2026-09-21
   days on market $275,000 Active 126 DOM
4. 2026-09-20
   days on market $275,000 Active 125 DOM
5. 2026-09-18
   days on market $275,000 Active 123 DOM
6. 2026-09-17
   days on market $275,000 Active 122 DOM
7. 2026-09-16
   days on market $275,000 Active 121 DOM
8. 2026-09-15
   days on market $275,000 Active 120 DOM
9. 2026-09-13
   days on market $275,000 Active 118 DOM
10. 2026-09-12
    days on market $275,000 Active 117 DOM
11. 2026-09-11
    days on market $275,000 Active 116 DOM
12. 2026-09-05
    days on market $275,000 Active 110 DOM
13. 2026-09-04
    days on market $275,000 Active 109 DOM
14. 2026-08-31
    days on market $275,000 Active 105 DOM
15. 2026-08-29
    days on market $275,000 Active 103 DOM
16. 2026-08-28
    days on market $275,000 Active 102 DOM
17. 2026-08-27
    days on market $275,000 Active 101 DOM
18. 2026-08-26
    days on market $275,000 Active 100 DOM
19. 2026-08-25
    days on market $275,000 Active 99 DOM
20. 2026-08-23
    days on market $275,000 Active 97 DOM
21. 2026-08-22
    days on market $275,000 Active 96 DOM
22. 2026-08-21
    days on market $275,000 Active 95 DOM
23. 2026-08-20
    days on market $275,000 Active 94 DOM
24. 2026-08-19
    days on market $275,000 Active 93 DOM
25. 2026-08-18
    days on market $275,000 Active 92 DOM
26. 2026-08-16
    days on market $275,000 Active 90 DOM
27. 2026-08-15
    days on market $275,000 Active 89 DOM
28. 2026-08-14
    days on market $275,000 Active 88 DOM
29. 2026-08-13
    days on market $275,000 Active 87 DOM
30. 2026-08-12
    days on market $275,000 Active 86 DOM
31. 2026-08-11
    days on market $275,000 Active 85 DOM
32. 2026-08-10
    days on market $275,000 Active 84 DOM
33. 2026-08-09
    days on market $275,000 Active 83 DOM
34. 2026-08-08
    days on market $275,000 Active 82 DOM
35. 2026-08-06
    days on market $275,000 Active 80 DOM
36. 2026-08-05
    days on market $275,000 Active 79 DOM
37. 2026-08-04
    days on market $275,000 Active 78 DOM
38. 2026-08-03
    days on market $275,000 Active 77 DOM
39. 2026-07-31
    days on market $275,000 Active 74 DOM
40. 2026-07-28
    days on market $275,000 Active 71 DOM
41. 2026-07-26
    days on market $275,000 Active 69 DOM
42. 2026-07-24
    days on market $275,000 Active 67 DOM
43. 2026-07-23
    days on market $275,000 Active 66 DOM
44. 2026-07-22
    days on market $275,000 Active 65 DOM
45. 2026-07-21
    days on market $275,000 Active 64 DOM
46. 2026-07-20
    days on market $275,000 Active 63 DOM
47. 2026-07-18
    days on market $275,000 Active 61 DOM
48. 2026-07-18
    days on market $275,000 Active 60 DOM
49. 2026-07-16
    days on market $275,000 Active 59 DOM
50. 2026-07-15
    days on market $275,000 Active 58 DOM

ⓘ 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: $50,701
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$4,056
• − Management: −$4,056
• − HOA: −$20,880
• − Depreciation: −$8,000
• Taxable loss: −$7,195
• Est. tax savings @ 24.0%: +$1,727
• After-tax cash flow: $-1,905/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $6,915–$20,745 screening

This waterfront condo is in good condition with a good condition score of 80. It has a good foundation and structure, and the interior is well-maintained. The kitchen and bathrooms could benefit from minor updates to increase its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — Aesthetic update needed
• Minor bathroom fixtures — Update to add modern appeal

Value-add opportunities

• Both Paint freshening — Enhances curb appeal and interior aesthetics ↑
• Resale Kitchen cabinet facelift — Modernizes the space and improves functionality ↑
• Rental Bathroom fixture upgrade — Attracts renters with updated amenities ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary David Lawrence Jr. K-8 Center D- FL #1,223/2,144 Nat'l #15,452/41,679 Middle North Miami Middle School F FL #486/571 Nat'l #9,545/14,009 High Alonzo & Tracy Mourning Senior High School F FL #244/667 Nat'l #7,320/17,239

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

B Composite livability gradescore 78/100

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

• County: Miami-Dade County · 3,126,439 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,848
• Household income: $63,275
• Rent vs Own: 62.4% rent · 37.6% own
• Severe rent burden: 24% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 44% Black 29% Two or more races 23% White 22% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 8% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 18% Lithuanian 3% Italian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 28% English-only · Spanish 44% French/Haitian/Cajun 18% Other Indo-European 4%

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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: ▼ -334.57%
• Current HPI: 341.3285
• Rent YoY: ▼ -0.11%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Financial info: Pets allowed conditionally; restrictions or possible restrictions
• HOA & community: Monthly association feeAssociation fee covers common areas and structure maintenanceAssociation amenities include pool

Exterior

• Parking: 1 covered garage spaceAdditional spaces available (two or more spaces, valet)
• Security: Lobby securedSecurity guard
• Utilities: Central heating and cooling
• Home design: Attached propertyLocated on entry level 9Has a viewTotal stories: 22
• Construction: Block constructionYear built: Unknown
• Exterior features: Storm/security shuttersBay front waterfront with seawallAssociation pool

Interior

• Kitchen: DishwasherElectric rangeMicrowaveRefrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: CarpetTile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: BlindsCloset cabinetryWalk-in closet(s)Bedroom on main level

Price history

-98.9% since first listed

5 events — show timeline

• 2026-05-20 Listed for Rent $2,900 MARMLS
• 2026-05-18 Listed $275,000 MARMLS
• 2026-04-26 Listing Removed — MARMLS
• 2026-01-19 Price Changed $235,000 MARMLS
• 2025-08-08 Listed $275,000 MARMLS