2801 NE 183rd St Unit 405W · Aventura, FL 33160

$188,000

1 bd · 2.0 ba · 1,066 sqft · Condo public records · 142 Days on market

Built 1974 $820/mo HOA · 22% 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 +30.0/30.0
• 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

Well appointed 1 Bedroom, 1/2 half bathroom at Admirals Port in Aventura. Natural light pours into this unit from every window. Conveniently located with minutes from Aventura mall, shops, dining and the beaches. Building amenties include a resort style pool, putting green and tennis courts. Call listing agent for further details.

Key facts

• Resort style pool
• Natural light
• Tennis courts

Tags

• NATURAL LIGHT
• RESORT STYLE POOL
• PUTTING GREEN
• TENNIS COURTS
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Pets not allowed over 20 lbs
• HOA & community: Monthly association fee; Association amenities include laundry, putting green(s), tennis court(s), and elevators; Association covers common areas, hot water, grounds maintenance, security, trash, and water

Exterior

• Parking: Assigned parking (one space)
• Security: Doorman; Secured elevator; Key card entry
• Utilities: Water service included in association; Trash service included in association
• Home design: Condominium (attached property); 22-story building; Entry on level 4
• Construction: Block construction; Effective year built
• Exterior features: Balcony; Open balcony/patio

Interior

• Kitchen: Electric range
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Elevator
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $188k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $188k).
• Recommended offer: $165k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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; 1879 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,735/mo this rent would consume 67% 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 $2k of equity ($1k loan paydown + $991 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 $53k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask is 9795% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $48k; list at $188k implies a 289% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 22% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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'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 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?
9. 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?
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: 1.99% ✓
• Cap rate: 11.64%
• Cash-on-cash: 19.09%
• DSCR: 1.85
• GRM: 4.2

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: 7.3%
• Equity multiple: 1.35×
• Total profit: $18,597
• Equity at exit: $59,595

10-year hold

• IRR: 9.6%
• Equity multiple: 2.02×
• Total profit: $53,436
• Equity at exit: $75,763

Cash invested: $52,640 (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: 1879
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $3,735 medium
• Mortgage (P&I): −$986
• Tax from tax record: −$229 /mo · $2,753/yr
• Insurance: −$78
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$820
• Vacancy / Maint / Mgmt: −$784
• Net cashflow: $411

Break-even live

Break-even rent $3,215

Max offer price $188,000

Occupancy floor 84%

Sensitivity live

Price	-10% $517	-5% $464	+0% $411	+5% $358	+10% $304
Rent	-10% $116	-5% $263	+0% $411	+5% $558	+10% $706
Rate	-1.0pp $505	-0.5pp $459	base $411	+0.5pp $362	+1.0pp $312

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: $47,000
• Closing costs: $5,640
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $820 · $9,840/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $188,000 Active 142 DOM
2. 2026-06-18
   days on market $188,000 Active 139 DOM
3. 2026-06-17
   days on market $188,000 Active 138 DOM
4. 2026-06-16
   days on market $188,000 Active 137 DOM
5. 2026-06-15
   days on market $188,000 Active 136 DOM
6. 2026-06-13
   days on market $188,000 Active 134 DOM
7. 2026-06-09
   days on market $188,000 Active 130 DOM
8. 2026-06-08
   days on market $188,000 Active 129 DOM
9. 2026-06-07
   days on market $188,000 Active 128 DOM
10. 2026-06-04
    days on market $188,000 Active 125 DOM
11. 2026-06-03
    days on market $188,000 Active 124 DOM
12. 2026-06-02
    days on market $188,000 Active 123 DOM
13. 2026-06-02
    price $188,000 Active 122 DOM
14. 2026-06-01
    days on market $200,000 Active 122 DOM
15. 2026-05-31
    days on market $200,000 Active 121 DOM
16. 2026-05-16
    listed $1,900
17. 2026-01-30
    listed $200,000 Active
18. 2024-10-21
    historical $1,950
19. 2024-10-17
    price $1,950
20. 2024-09-30
    price $1,895
21. 2024-08-01
    price $1,950
22. 2024-07-16
    listed $2,100
23. 2017-11-21
    historical
24. 2017-08-30
    listed $159,999 Active
25. 1993-12-30
    soldstatus $48,300
26. 1978-12-01
    soldstatus $38,000

ⓘ 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: $2,753 · $229/mo
• Projected year-2 tax: $2,753 · $229/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 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 25 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: $44,823
• − Mortgage interest: −$10,531
• − Property taxes: −$2,753
• − Insurance: −$6,058
• − Repairs & maintenance: −$3,586
• − Management: −$3,586
• − HOA: −$9,840
• − Depreciation: −$5,469
• Taxable income: $3,000
• Est. tax owed @ 24.0%: −$720
• After-tax cash flow: $4,208/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
• 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

-95.0% since first listed

11 events — show timeline

• 2026-05-16 Listed for Rent $1,900 MARMLS
• 2026-01-30 Listed $200,000 MARMLS
• 2024-10-21 Rental Removed $1,950 MARMLS
• 2024-10-17 Price Changed $1,950 MARMLS
• 2024-09-30 Price Changed $1,895 MARMLS
• 2024-08-01 Price Changed $1,950 MARMLS
• 2024-07-16 Listed for Rent $2,100 MARMLS
• 2017-11-21 Listing Removed — MARMLS
• 2017-08-30 Listed $159,999 MARMLS
• 1993-12-30 Sold (Public Records) $48,300 Public Records
• 1978-12-01 Sold (Public Records) $38,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $2,753 · +4.2% YoY. Source: county tax records.