1800 NW 24th Ave #219 · Miami, FL 33125

$215,000

1 bd · 1.0 ba · 604 sqft · Condo public records · 105 Days on market

Built 1974 $486/mo HOA · 15% of rent

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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 +26.4/30.0
• 1% rule +9.8/10.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Waterfront 1/1 located on the Miami River. Remodeled unit with SS appliances in the heart of Miami. Gated building with guard, large balcony, community pool, BBQ area, assigned parking, convenience store on the first floor, boat ramp and private marina with dockage all around the perimeter of the building for boat owners. Laundry room on every floor. Located minutes to Miami International Airport, Brickell, Downtown, Midtown, & South Beach.

Key facts

• Gated building
• Remodeled unit
• Community pool

Tags

• REMODELED UNIT
• GATED BUILDING
• LARGE BALCONY
• COMMUNITY POOL
• BBQ AREA
• ASSIGNED PARKING

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association fee covers laundry, grounds maintenance, structure maintenance, reserve fund, roof, sewer, security, trash and water; Association amenities include boat dock, marina, elevators, laundry, barbecue and picnic area

Exterior

• Parking: Detached 1-car garage; One covered parking space
• Security: Complex fenced; Key card entry; Security guard
• Utilities: Cable available
• Home design: Attached property; 2nd-floor entry; 10-story building
• Construction: Built with block construction; Resale property
• Exterior features: Barbecue; Fence; Bayfront and riverfront waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Bedroom on main level; Tub with shower; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 soft (-1.4%/yr); 239 active listings in the ZIP; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,179/mo this rent would consume 85% of the median local household income ($45k/yr) (locally 5223% 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 $6k 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 105 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $215k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% 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'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 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. 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.
11. 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.
12. 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: 1.48% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.23%
• DSCR: 1.50
• GRM: 5.6

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: -17.1%
• Equity multiple: 0.42×
• Total profit: $-34,860
• Equity at exit: $32,057

10-year hold

• IRR: -21.8%
• Equity multiple: 0.12×
• Total profit: $-52,742
• Equity at exit: $18,589

Cash invested: $60,200 (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 33125

• Rents YoY: -1.4%
• Active inventory: 239
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $3,179 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$245 /mo · $2,944/yr
• Insurance: −$90
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$486
• Vacancy / Maint / Mgmt: −$668
• Net cashflow: $137

Break-even live

Break-even rent $3,006

Max offer price $215,000

Occupancy floor 91%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $486 · $5,832/yr
• Likely covers: waterpoolsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $215,000 Active 105 DOM
2. 2026-06-17
   days on market $215,000 Active 104 DOM
3. 2026-06-16
   days on market $215,000 Active 103 DOM
4. 2026-06-15
   days on market $215,000 Active 102 DOM
5. 2026-06-13
   days on market $215,000 Active 100 DOM
6. 2026-06-09
   days on market $215,000 Active 96 DOM
7. 2026-06-08
   days on market $215,000 Active 95 DOM
8. 2026-06-07
   days on market $215,000 Active 94 DOM
9. 2026-06-04
   days on market $215,000 Active 91 DOM
10. 2026-06-03
    days on market $215,000 Active 90 DOM
11. 2026-06-02
    days on market $215,000 Active 89 DOM
12. 2026-06-01
    days on market $215,000 Active 88 DOM
13. 2026-05-31
    days on market $215,000 Active 87 DOM
14. 2026-05-19
    price $215,000
15. 2026-04-03
    price $220,000
16. 2026-03-05
    listed $225,000 Active
17. 2014-08-21
    soldstatus $80,000
18. 1996-05-14
    soldstatus $33,000

ⓘ 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: $2,944 · $245/mo
• Projected year-2 tax: $2,944 · $245/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 💨 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: $38,151
• − Mortgage interest: −$12,043
• − Property taxes: −$2,944
• − Insurance: −$6,194
• − Repairs & maintenance: −$3,052
• − Management: −$3,052
• − HOA: −$5,832
• − Depreciation: −$6,255
• Taxable loss: −$1,221
• Est. tax savings @ 24.0%: +$293
• After-tax cash flow: $1,933/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): 56,897
• Household income: $44,979
• Rent vs Own: 74.0% rent · 26.0% own
• Severe rent burden: 5223.0

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: Predominantly Hispanic (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 52% White 4% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 46% Dominican 3% Salvadoran 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 68% · Canada, Jamaica, Dominican Republic
• Languages at home: 9% English-only · Spanish 90%

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: ▼ -402.98%
• Current HPI: 476.1631
• Rent YoY: ▼ -1.39%
• 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

+551.5% since first listed

5 events — show timeline

• 2026-05-19 Price Changed $215,000 MARMLS
• 2026-04-03 Price Changed $220,000 MARMLS
• 2026-03-05 Listed $225,000 MARMLS
• 2014-08-21 Sold (Public Records) $80,000 Public Records
• 1996-05-14 Sold (Public Records) $33,000 Public Records

Property tax history

+10.0%/yr

Latest (2025): $2,944 · +6.9% YoY. Source: county tax records.