1770 NE 191st St Unit 508-1 · Ojus, FL 33179

$145,000

2 bd · 1.5 ba · 1,036 sqft · Condo · 411 Days on market

Built 1969 $671/mo HOA · 20% of rent ↓ 15% since listing

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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
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Quiet tree lined street, 2 bedroom convertible, 1.5 bath condo in gated community, seller motivated and priced to sell! Deal just fell through because buyers credit score was below 675! Don't pass up this opportunity!

Key facts

• $671 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets: conditional; restrictions or possible restrictions
• HOA & community: Monthly association fee; Association fee covers amenities; Association amenities include clubhouse, elevator(s), laundry, and pool

Exterior

• Parking: Carport (1 space); One covered parking space
• Security: Key card entry; Fenced complex
• Utilities: Cable available
• Home design: Attached property; 8-story building; Entry located on level 5
• Construction: Block construction; Resale property
• Exterior features: Association pool; Complex fenced; Key card entry

Interior

• Bedrooms: Entry level: 5
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Convertible bedroom; Ceramic tile flooring
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 8.7% in Ojus — 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 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 flat; 574 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,404/mo this rent would consume 63% of the median local household income ($65k/yr) (locally 3123% 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 $4k 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 411 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 8186% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 411 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 1969 — 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 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?
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: 2.35% ✓
• Cap rate: 14.71%
• Cash-on-cash: 30.04%
• DSCR: 2.34
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.22% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $5,536
• Equity at exit: $21,620

10-year hold

• IRR: 8.3%
• Equity multiple: 1.50×
• Total profit: $20,187
• Equity at exit: $12,537

Cash invested: $40,600 (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 33179

• Rents YoY: 0.2%
• Active inventory: 574
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $3,404 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$671
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $590

Break-even live

Break-even rent $2,658

Max offer price $145,000

Occupancy floor 78%

Sensitivity live

Price	-10% $690	-5% $640	+0% $590	+5% $540	+10% $490
Rent	-10% $321	-5% $455	+0% $590	+5% $724	+10% $859
Rate	-1.0pp $663	-0.5pp $627	base $590	+0.5pp $552	+1.0pp $514

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $671 · $8,052/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $145,000 Active 411 DOM
2. 2026-06-17
   days on market $145,000 Active 410 DOM
3. 2026-06-16
   days on market $145,000 Active 409 DOM
4. 2026-06-15
   days on market $145,000 Active 408 DOM
5. 2026-06-13
   days on market $145,000 Active 406 DOM
6. 2026-06-09
   days on market $145,000 Active 402 DOM
7. 2026-06-08
   days on market $145,000 Active 401 DOM
8. 2026-06-08
   days on market $145,000 Active 400 DOM
9. 2026-06-04
   days on market $145,000 Active 397 DOM
10. 2026-06-03
    days on market $145,000 Active 396 DOM
11. 2026-06-02
    days on market $145,000 Active 395 DOM
12. 2026-06-01
    days on market $145,000 Active 394 DOM
13. 2026-05-31
    statusdays on market $145,000 Active 393 DOM
14. 2026-05-21
    price $145,000
15. 2026-05-18
    historical Active Under Contract
16. 2026-03-10
    status Active
17. 2026-02-15
    historical $1,750
18. 2026-02-10
    listed $1,750
19. 2026-02-09
    historical $1,750
20. 2026-01-15
    status Pending
21. 2025-12-03
    price $139,000
22. 2025-10-25
    price $154,895
23. 2025-10-25
    price $149,999
24. 2025-10-23
    listed $1,750
25. 2025-09-05
    price $154,895
26. 2025-03-31
    price $154,900
27. 2025-03-11
    price $169,999
28. 2025-03-06
    listed $170,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥104°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,854
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$5,844
• − Repairs & maintenance: −$3,268
• − Management: −$3,268
• − HOA: −$8,052
• − Depreciation: −$4,218
• Taxable income: $5,906
• Est. tax owed @ 24.0%: −$1,417
• After-tax cash flow: $5,662/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
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 51,591
• Household income: $65,211
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 3123.0

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 0.67)
• Race & ethnicity: Black 39% Hispanic / Latino 38% Two or more races 23% White 19% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 6% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 13% Scotch-Irish 2% Romanian 2%
• Foreign-born: 48% · Canada, Jamaica, Dominican Republic
• Languages at home: 42% English-only · Spanish 37% French/Haitian/Cajun 13% 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: ▼ -608.34%
• Current HPI: 328.1733
• Rent YoY: ▲ 0.22%
• 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

-14.7% since first listed

15 events — show timeline

• 2026-05-21 Price Changed $145,000 MARMLS
• 2026-05-18 Contingent — MARMLS
• 2026-03-10 Relisted — MARMLS
• 2026-02-15 Rental Removed $1,750 ZUMPER1
• 2026-02-10 Listed for Rent $1,750 ZUMPER1
• 2026-02-09 Rental Removed $1,750 MARMLS
• 2026-01-15 Pending — MARMLS
• 2025-12-03 Price Changed $139,000 MARMLS
• 2025-10-25 Price Changed $154,895 MARMLS
• 2025-10-25 Price Changed $149,999 MARMLS
• 2025-10-23 Listed for Rent $1,750 MARMLS
• 2025-09-05 Price Changed $154,895 MARMLS
• 2025-03-31 Price Changed $154,900 MARMLS
• 2025-03-11 Price Changed $169,999 MARMLS
• 2025-03-06 Listed $170,000 MARMLS