2561 NE 193rd St #1103 · Ojus, FL 33180

$465,000

3 bd · 2.0 ba · 1,282 sqft · Condo public records · 688 Days on market

Built 2021

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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).

• Cash flow +9.5/30.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Price reduced!!!! DON'T MISS !!! FIRST FLOOR UNIT. NO STAIRS !! 3 BEDROOMS 2 1/2 BATHS LOCATED AT AVENTURA VILLAGE. THIS GATED COMMUNITY OFFERS SWIMMING POOL AND BARBECUE AREA . WALKING DISTANCE FROM SHOPPING AND GROCERIES , RESTAURANTS AND MUCH MORE. PETS ARE ALLOWED. Great community fully funded reserves .

Key facts

• Gated community
• Barbecue area
• Swimming pool

Tags

• SWIMMING POOL
• BARBECUE AREA
• GATED COMMUNITY

Property features AI

Finance

• Financial info: Pets allowed with restrictions/conditions
• HOA & community: Monthly association fee; Association covers amenities, common areas, hot water, insurance, grounds maintenance, structure maintenance, and sewer; Association amenities include pool and trash; Community of 96 units

Exterior

• Parking: Attached carport (deeded, 1 covered space); Additional on-street parking
• Security: Complex fenced; Key card entry; Smoke detectors
• Utilities: Cable available
• Home design: 2-story building; Entry at level 1; Property is attached; New construction; Block construction
• Construction: Block construction; New construction
• Exterior features: Barbecue area; Security/high-impact doors; Exterior lighting; Association pool

Interior

• Kitchen: Electric range; Self-cleaning oven; Microwave; Dishwasher; Refrigerator; Icemaker
• Bedrooms: Primary bedroom located on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Eat-in kitchen; Family/Dining room; Dual sinks; Walk-in closet(s); Main-level primary; Bedroom on main level; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $465k.

Deal economics

• At list price, monthly cash flow is $-325 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $449k (3.5% below list).
• Recommended offer: $409k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.5% vs local median 8.7% in Ojus — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 83/100 on livability (#58 in FL, #1,031 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D+, amenities 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 (-1.5%/yr); 985 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,486/mo this rent would consume 59% of the median local household income ($91k/yr) (locally 1838% 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 $3k of loan paydown is wiped out by about $14k 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 688 days — a 12% lower offer ($409k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask is 15400% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $409,200 (12.0% 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 688 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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?
9. 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.
10. 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.
11. 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: 0.96% ✗
• Cap rate: 5.45%
• Cash-on-cash: -3.00%
• DSCR: 0.87
• GRM: 8.6

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: -25.4%
• Equity multiple: 0.16×
• Total profit: $-108,726
• Equity at exit: $69,333

10-year hold

• IRR: -39.3%
• Equity multiple: -0.31×
• Total profit: $-170,230
• Equity at exit: $40,205

Cash invested: $130,200 (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 33180

• Rents YoY: -1.5%
• Active inventory: 985
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $4,486 medium
• Mortgage (P&I): −$2,439
• Tax from tax record: −$560 /mo · $6,720/yr
• Insurance: −$194
• HOA est. from 5 same-building comps: −$677
• Vacancy / Maint / Mgmt: −$942
• Net cashflow: $-325

Break-even live

Break-even rent $4,898

Max offer price $407,588

Occupancy floor —

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: $116,250
• Closing costs: $13,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
223 SW 10th St Hallandale Beach, FL	3.0	3.0	1289	$3,900	$3.03	24d	1	1.44mi

HOA detail condo

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

Listing history 33 events

1. 2026-06-18
   days on market $465,000 Active 688 DOM
2. 2026-06-17
   days on market $465,000 Active 687 DOM
3. 2026-06-16
   days on market $465,000 Active 686 DOM
4. 2026-06-15
   days on market $465,000 Active 685 DOM
5. 2026-06-13
   days on market $465,000 Active 683 DOM
6. 2026-06-10
   remarks 309-char remark
7. 2026-06-10
   price $465,000 Active 679 DOM
8. 2026-06-09
   days on market $480,000 Active 679 DOM
9. 2026-06-08
   days on market $480,000 Active 678 DOM
10. 2026-06-08
    days on market $480,000 Active 677 DOM
11. 2026-06-04
    days on market $480,000 Active 674 DOM
12. 2026-06-03
    days on market $480,000 Active 673 DOM
13. 2026-06-02
    days on market $480,000 Active 672 DOM
14. 2026-06-01
    days on market $480,000 Active 671 DOM
15. 2026-05-31
    days on market $480,000 Active 670 DOM
16. 2026-04-27
    historical $3,000
17. 2026-03-12
    price $480,000
18. 2026-03-12
    status Active
19. 2026-03-08
    listed $3,000
20. 2026-01-14
    historical
21. 2025-11-27
    price $459,000
22. 2025-06-30
    price $475,000
23. 2024-08-06
    price $500,000
24. 2024-07-18
    price $505,000
25. 2024-06-20
    status Active
26. 2024-05-10
    listed $510,000 Active
27. 2023-01-24
    historical
28. 2022-11-17
    historical
29. 2022-11-15
    price $505,000
30. 2022-09-26
    status Active
31. 2022-09-22
    price $510,000
32. 2022-06-16
    listed $550,000 Active
33. 2021-05-11
    soldstatus $420,000

ⓘ 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: $6,720 · $560/mo
• Projected year-2 tax: $6,720 · $560/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: $53,837
• − Mortgage interest: −$26,047
• − Property taxes: −$6,720
• − Insurance: −$2,325
• − Repairs & maintenance: −$4,307
• − Management: −$4,307
• − HOA: −$8,124
• − Depreciation: −$13,527
• Taxable loss: −$11,520
• Est. tax savings @ 24.0%: +$2,765
• After-tax cash flow: $-1,135/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 — Ojus

• Score: 83/100
• State rank: #58
• US rank: #1031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ojus, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 34,147
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 34,147
• Household income: $91,055
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1838.0

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: White 46% Hispanic / Latino 45% Two or more races 28% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 7% Dominican 1% Salvadoran 6%
• Common ancestry: Scotch-Irish 5% Romanian 5% Italian 3%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 30% English-only · Spanish 49% Other Indo-European 6% Russian/Polish/Slavic 4%

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: ▼ -343.81%
• Current HPI: 234.7715
• Rent YoY: ▼ -1.51%
• 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

-99.3% since first listed

18 events — show timeline

• 2026-04-27 Rental Removed $3,000 APPFOLIO
• 2026-03-12 Price Changed $480,000 MARMLS
• 2026-03-12 Relisted — MARMLS
• 2026-03-08 Listed for Rent $3,000 APPFOLIO
• 2026-01-14 Listing Removed — MARMLS
• 2025-11-27 Price Changed $459,000 MARMLS
• 2025-06-30 Price Changed $475,000 MARMLS
• 2024-08-06 Price Changed $500,000 MARMLS
• 2024-07-18 Price Changed $505,000 MARMLS
• 2024-06-20 Relisted — MARMLS
• 2024-05-10 Listed $510,000 MARMLS
• 2023-01-24 Listing Removed — MARMLS
• 2022-11-17 Rental Removed — MARMLS
• 2022-11-15 Price Changed $505,000 MARMLS
• 2022-09-26 Relisted — MARMLS
• 2022-09-22 Price Changed $510,000 MARMLS
• 2022-06-16 Listed $550,000 MARMLS
• 2021-05-11 Sold (Public Records) $420,000 Public Records

Property tax history

+101.7%/yr

Latest (2025): $6,720 · +2.4% YoY. Source: county tax records.