18151 NE 31st Ct #103 · Aventura, FL 33160

$224,000

1 bd · 1.0 ba · 1,060 sqft · Condo public records · 89 Days on market

Built 1981 $793/mo HOA · 20% 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 +28.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

THE BEST AND BIGGEST UNIT FOR 1 BEDROOM + 2 FULL BATHROOMS, DIRECT WATER VIEW TO INTRACOASTAL AND SUUNY ISLES BEACH, HIGH CEILINGS, LARGE MASTER BEDROOM + BIG MASTER CLOSET, A LOT OF CLOSETS AROUND THE UNIT, NICE KITCHEN WITH 1 YEAR APPLIANCES LIKE NEW, CERAMIC TILE IN THE BATHROOMS, EXTRA STORAGE, BUILDING WITH 2 LARGE POOLS, JACUZZY,GYM, 3 TENNIS COURT, BILLIAR AND CONFERENCE ROOM, PING-PONG AREA, COVERED PARKING, VALET PARKING FOR GUESTS, SECURITY GUARD AT ENTRANCE AND LOBBY, FEW MINUTES TO FRESH MARKETS WHOLE FOOD, PUBLIX, WALLGREENS, SUNNY ISLES BEACH AND AVENTURA MALL AND MUCH MORE. OWNER FINANCING. EASY TO SHOW. CALL THE LA.

Key facts

• Fitness center
• Hot tub
• Yoga studio

Tags

• TENNIS AND RACQUETBALL COURTS
• 2 POOLS
• HOT TUB
• FITNESS CENTER
• YOGA STUDIO
• GAME ROOMS

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association fee covers amenities, common areas, cable TV, hot water, insurance, structure maintenance, parking, and pest control; Community amenities include billiard room, business center, fitness center, laundry, library, barbecue/picnic area, playground, pickleball, pool, sauna, spa/hot tub, tennis courts, and elevators; Community contains 592 units

Exterior

• Parking: Assigned parking space (one space)
• Security: Doorman; Lobby secured; Security guard; Closed-circuit cameras; Complex fenced; Smoke detectors
• Utilities: Cable available
• Home design: Condominium in a 21-story building; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio; Fence; Association pool; Property has a view; Property attached (multi-unit building)

Interior

• Kitchen: Dishwasher; Electric range; Self-cleaning oven; Refrigerator; Icemaker; Disposal
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Accessible elevator installed; First floor entry; Bedroom on main level
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $224k.

Deal economics

• At list price, monthly cash flow is $756 ($9k/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: $211k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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: schools A+, health & safety A+, amenities A; Watch: crime D+, 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 flat; 1878 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,026/mo this rent would consume 72% of the median local household income ($67k/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 $3k of equity ($2k loan paydown + $1k appreciation (0.5% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.5% appreciation + 0.9% rent growth), your $63k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask is 13076% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $210,560 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.80% ✓
• Cap rate: 10.34%
• Cash-on-cash: 14.46%
• DSCR: 1.64
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.63×
• Total profit: $39,599
• Equity at exit: $71,007

10-year hold

• IRR: 15.3%
• Equity multiple: 2.64×
• Total profit: $102,554
• Equity at exit: $90,271

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 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1878
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $4,026 medium
• Mortgage (P&I): −$1,175
• Tax from tax record: −$364 /mo · $4,370/yr
• Insurance: −$93
• HOA: −$793
• Vacancy / Maint / Mgmt: −$846
• Net cashflow: $756

Break-even live

Break-even rent $3,070

Max offer price $224,000

Occupancy floor 76%

Sensitivity live

Price	-10% $882	-5% $819	+0% $756	+5% $692	+10% $629
Rent	-10% $438	-5% $597	+0% $756	+5% $915	+10% $1,074
Rate	-1.0pp $868	-0.5pp $813	base $756	+0.5pp $698	+1.0pp $638

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: —

HOA detail condo

• Monthly dues: $793 · $9,516/yr
• Likely covers: waterpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-07
   days on market $224,000 Active 89 DOM
2. 2026-06-04
   days on market $224,000 Active 86 DOM
3. 2026-06-03
   days on market $224,000 Active 85 DOM
4. 2026-06-02
   days on market $224,000 Active 84 DOM
5. 2026-06-01
   days on market $224,000 Active 83 DOM
6. 2026-05-31
   days on market $224,000 Active 82 DOM
7. 2026-05-14
   historical $1,700
8. 2026-04-16
   listed $1,700
9. 2026-03-09
   listed $224,000 Active
10. 2021-10-22
    soldstatus $227,500
11. 2021-10-15
    soldstatus $227,500 639-char remark

    Show marketing remark (639 chars)

    THE BEST AND BIGGEST UNIT FOR 1 BEDROOM + 2 FULL BATHROOMS, DIRECT WATER VIEW TO INTRACOASTAL AND SUUNY ISLES BEACH, HIGH CEILINGS, LARGE MASTER BEDROOM + BIG MASTER CLOSET, A LOT OF CLOSETS AROUND THE UNIT, NICE KITCHEN WITH 1 YEAR APPLIANCES LIKE NEW, CERAMIC TILE IN THE BATHROOMS, EXTRA STORAGE, BUILDING WITH 2 LARGE POOLS, JACUZZY,GYM, 3 TENNIS COURT, BILLIAR AND CONFERENCE ROOM, PING-PONG AREA, COVERED PARKING, VALET PARKING FOR GUESTS, SECURITY GUARD AT ENTRANCE AND LOBBY, FEW MINUTES TO FRESH MARKETS WHOLE FOOD, PUBLIX, WALLGREENS, SUNNY ISLES BEACH AND AVENTURA MALL AND MUCH MORE. OWNER FINANCING. EASY TO SHOW. CALL THE LA.

12. 2021-08-05
    listed $240,000 639-char remark

    Show marketing remark (639 chars)

    THE BEST AND BIGGEST UNIT FOR 1 BEDROOM + 2 FULL BATHROOMS, DIRECT WATER VIEW TO INTRACOASTAL AND SUUNY ISLES BEACH, HIGH CEILINGS, LARGE MASTER BEDROOM + BIG MASTER CLOSET, A LOT OF CLOSETS AROUND THE UNIT, NICE KITCHEN WITH 1 YEAR APPLIANCES LIKE NEW, CERAMIC TILE IN THE BATHROOMS, EXTRA STORAGE, BUILDING WITH 2 LARGE POOLS, JACUZZY,GYM, 3 TENNIS COURT, BILLIAR AND CONFERENCE ROOM, PING-PONG AREA, COVERED PARKING, VALET PARKING FOR GUESTS, SECURITY GUARD AT ENTRANCE AND LOBBY, FEW MINUTES TO FRESH MARKETS WHOLE FOOD, PUBLIX, WALLGREENS, SUNNY ISLES BEACH AND AVENTURA MALL AND MUCH MORE. OWNER FINANCING. EASY TO SHOW. CALL THE LA.

13. 2020-12-31
    historical
14. 2020-01-09
    listed $237,000
15. 2018-04-10
    historical
16. 2017-04-20
    listed $245,000
17. 1992-07-24
    soldstatus $78,000
18. 1986-05-01
    soldstatus $70,000

ⓘ 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: $4,370 · $364/mo
• Projected year-2 tax: $4,370 · $364/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $48,316
• − Mortgage interest: −$12,547
• − Property taxes: −$4,370
• − Insurance: −$1,120
• − Repairs & maintenance: −$3,865
• − Management: −$3,865
• − HOA: −$9,516
• − Depreciation: −$6,516
• Taxable income: $6,515
• Est. tax owed @ 24.0%: −$1,564
• After-tax cash flow: $7,503/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 — 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: 90,324
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,718
• Household income: $67,040
• Rent vs Own: 41.0% rent · 59.0% 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 0.59)
• Race & ethnicity: Hispanic / Latino 46% White 44% Two or more races 27% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 8% Dominican 1% Salvadoran 4%
• Common ancestry: Scotch-Irish 8% Hispanic 3% Subsaharan African 3%
• Foreign-born: 61% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · Spanish 45% Russian/Polish/Slavic 12% 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: ▲ 0.53%
• Current HPI: 284.9293
• Rent YoY: ▲ 0.94%
• 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

-97.6% since first listed

12 events — show timeline

• 2026-05-14 Rental Removed $1,700 MARMLS
• 2026-04-16 Listed for Rent $1,700 MARMLS
• 2026-03-09 Listed $224,000 MARMLS
• 2021-10-22 Sold (Public Records) $227,500 Public Records
• 2021-10-15 Sold (MLS) $227,500 Beaches MLS
• 2021-08-05 Listed $240,000 Beaches MLS
• 2020-12-31 Listing Removed — Beaches MLS
• 2020-01-09 Listed $237,000 Beaches MLS
• 2018-04-10 Listing Removed — Beaches MLS
• 2017-04-20 Listed $245,000 Beaches MLS
• 1992-07-24 Sold (Public Records) $78,000 Public Records
• 1986-05-01 Sold (Public Records) $70,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $4,370 · +3.0% YoY. Source: county tax records.