1251 NE 108th St #617 · Miami Shores, FL 33161

$207,000

1 bd · 1.0 ba · 710 sqft · Condo public records · 19 Days on market

Built 1969 $597/mo HOA · 18% 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 +29.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TURN KEY INVESTMENT PRICED TO SELL!!!! This beautiful 1/1 + DEN has laminate floors in bedroom, tile throughout kitchen and living areas, spacious screened balcony & 1 assigned parking. Harbour Pointe offers pool, gym, security cameras. Water is included in monthly maintenance. Property across from K-Mart, a block west of Biscayne, close to all shopping & banks. MOTIVATED SELLER

Key facts

• Security cameras
• Laminate floors
• Screened balcony

Tags

• LAMINATE FLOORS
• SCREENED BALCONY
• ASSIGNED PARKING
• POOL
• GYM
• SECURITY CAMERAS

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $597; Association covers hot water, insurance, structure maintenance, parking, pest control, pool, sewer, trash, water, and common area maintenance; Community amenities: fitness center, laundry, pool, trash service, elevators

Exterior

• Parking: Covered garage parking for one vehicle; One parking space
• Security: Closed-circuit cameras; Fenced complex; Secured elevator lobby with phone entry/intercom; Secured garage/parking
• Home design: Attached property; 10-story building; Entry on level 6
• Construction: Block construction; Resale property
• Exterior features: Balcony (screened); Courtyard; Association pool

Interior

• Kitchen: Electric range; Icemaker; Microwave
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Kitchen island; Tile flooring
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $207k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $207k).
• Recommended offer: $204k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#130 in FL, #1,936 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: crime D, amenities 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 (-0.7%/yr); 341 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,410/mo this rent would consume 70% of the median local household income ($58k/yr) (locally 3226% 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 19 days — a 2% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $119k; list at $207k implies a 74% 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; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,895 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.65% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.68%
• DSCR: 1.65
• GRM: 5.1

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: -12.4%
• Equity multiple: 0.57×
• Total profit: $-24,885
• Equity at exit: $30,864

10-year hold

• IRR: -13.0%
• Equity multiple: 0.41×
• Total profit: $-34,457
• Equity at exit: $17,898

Cash invested: $57,960 (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 33161

• Rents YoY: -0.7%
• Active inventory: 341
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,410 medium
• Mortgage (P&I): −$1,086
• Tax from tax record: −$216 /mo · $2,590/yr
• Insurance: −$86
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$597
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $283

Break-even live

Break-even rent $3,052

Max offer price $207,000

Occupancy floor 87%

Sensitivity live

Price	-10% $400	-5% $341	+0% $283	+5% $224	+10% $165
Rent	-10% $13	-5% $148	+0% $283	+5% $417	+10% $552
Rate	-1.0pp $387	-0.5pp $335	base $283	+0.5pp $229	+1.0pp $174

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: $51,750
• Closing costs: $6,210
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $597 · $7,164/yr
• Likely covers: waterpoolgymsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-21
   days on market $207,000 Active 19 DOM
2. 2026-06-18
   days on market $207,000 Active 16 DOM
3. 2026-06-17
   days on market $207,000 Active 15 DOM
4. 2026-06-16
   days on market $207,000 Active 14 DOM
5. 2026-06-15
   days on market $207,000 Active 13 DOM
6. 2026-06-13
   days on market $207,000 Active 11 DOM
7. 2026-06-09
   days on market $207,000 Active 7 DOM
8. 2026-06-08
   days on market $207,000 Active 6 DOM
9. 2026-06-07
   days on market $207,000 Active 5 DOM
10. 2026-06-04
    days on market $207,000 Active 2 DOM
11. 2026-06-02
    remarks 375-char remark
12. 2026-06-02
    listed $207,000 Active 1 DOM

ⓘ 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: $2,590 · $216/mo
• Projected year-2 tax: $2,590 · $216/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 7/10 Severe FEMA zone AE · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 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: $40,917
• − Mortgage interest: −$11,595
• − Property taxes: −$2,590
• − Insurance: −$6,154
• − Repairs & maintenance: −$3,273
• − Management: −$3,273
• − HOA: −$7,164
• − Depreciation: −$6,022
• Taxable income: $846
• Est. tax owed @ 24.0%: −$203
• After-tax cash flow: $3,188/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 Shores

• Score: 80/100
• State rank: #130
• US rank: #1936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

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 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% Other Indo-European 2%

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: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• 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

+33.5% since first listed

13 events — show timeline

• 2026-06-02 Listed $207,000 MARMLS
• 2024-08-28 Rental Removed $1,700 MARMLS
• 2024-08-14 Listed for Rent $1,700 MARMLS
• 2024-08-09 Rental Removed $1,700 MARMLS
• 2024-08-08 Listed for Rent $1,700 MARMLS
• 2016-07-25 Sold (MLS) $119,000 MARMLS
• 2016-06-28 Sold (Public Records) $119,000 Public Records
• 2016-05-23 Pending — MARMLS
• 2016-05-05 Price Changed $124,900 MARMLS
• 2016-03-30 Listed $135,000 MARMLS
• 2013-06-10 Listing Removed — MARMLS
• 2013-03-21 Sold (Public Records) $32,000 Public Records
• 2005-12-21 Sold (Public Records) $155,000 Public Records

Property tax history

+11.1%/yr

Latest (2025): $2,590 · +5.1% YoY. Source: county tax records.