18900 NE 3rd Ct #509 · Ives Estates, FL 33179

$125,000

1 bd · 1.0 ba · 850 sqft · Condo public records · 13 Days on market

Built 1968 $274/mo HOA · 9% 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
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 2-Bedroom, 1-Bathroom Condo for sale in 55+ Community – Motivated Seller! This beautifully maintained first-floor unit offers modern comfort and convenience in a desirable 55+ community (buyer may be any age, but at least 1 occupant must be 55+). Featuring brand-new vinyl flooring, new wood cabinetry, a two-in-one washer & dryer, new water heater, impact windows, central A/C, and an additional ductless mini split system for optimal cooling efficiency. Conveniently located near I-95, 441, Aventura, malls, groceries, banks, public transportation and the beach. Community amenities include a pool, clubhouse, common laundry facilities. 1 assigned parking space. No pets allow

Key facts

• New wood cabinetry
• New water heater
• First-floor unit

Tags

• FIRST-FLOOR UNIT
• BRAND-NEW VINYL FLOORING
• NEW WOOD CABINETRY
• TWO-IN-ONE WASHER DRYER
• NEW WATER HEATER
• IMPACT WINDOWS

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee ($274); Association amenities include clubhouse, elevators, laundry facilities and pool; Association fee covers amenities, common areas, cable TV, insurance, laundry, structure maintenance, parking, pool(s), recreation facilities, reserve fund, sewer, security, trash and water; Senior community

Exterior

• Parking: Assigned parking (one space)
• Security: Smoke detectors
• Utilities: Sewer included in association; Water included in association; Cable TV included in association; Electric service (standard)
• Home design: Attached property; Condominium in a 4-story building; Entry on level 1
• Construction: Block construction
• Exterior features: Awnings; Balcony; Patio; Screened patio/balcony; Lakefront location; Has a view; Association pool

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Bedroom located on the main level
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Impact-resistant windows; Bedroom on main level; Breakfast area; First-floor entry; Open living/dining area; Main living area on entry level
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $986 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Cap rate 19.9% vs local median 3.6% in Ives Estates — 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 77/100 on livability (#191 in FL, #3,061 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: employment C-, 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; 572 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,160/mo this rent would consume 58% 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 $864 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.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 3y ago; this cycle's ask has dropped $55k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $125k implies a 481% 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 5→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1968 — 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 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?
7. 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.
8. 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.
9. 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: 2.53% ✓
• Cap rate: 19.85%
• Cash-on-cash: 48.43%
• DSCR: 3.15
• GRM: 3.3

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: 25.0%
• Equity multiple: 1.98×
• Total profit: $34,381
• Equity at exit: $18,638

10-year hold

• IRR: 30.4%
• Equity multiple: 3.26×
• Total profit: $79,221
• Equity at exit: $10,808

Cash invested: $35,000 (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: 572
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $3,160 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$102 /mo · $1,225/yr
• Insurance: −$52
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$274
• Vacancy / Maint / Mgmt: −$664
• Net cashflow: $986

Break-even live

Break-even rent $1,912

Max offer price $125,000

Occupancy floor 64%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $274 · $3,288/yr
• Likely covers: waterpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-15
   status $125,000 Pending 13 DOM
2. 2026-06-15
   days on market $125,000 Active 13 DOM
3. 2026-06-13
   days on market $125,000 Active 11 DOM
4. 2026-06-09
   days on market $125,000 Active 7 DOM
5. 2026-06-08
   days on market $125,000 Active 6 DOM
6. 2026-06-07
   days on market $125,000 Active 5 DOM
7. 2026-06-04
   days on market $125,000 Active 2 DOM
8. 2026-06-03
   pricedays on marketlisting id $125,000 Active 1 DOM
9. 2026-06-01
   days on market $130,000 Active 212 DOM
10. 2026-05-31
    days on market $130,000 Active 211 DOM
11. 2026-05-19
    status Active
12. 2026-05-19
    price $130,000
13. 2026-05-08
    status Pending
14. 2026-04-06
    historical Active Under Contract
15. 2026-02-10
    price $120,000
16. 2025-10-22
    price $160,000
17. 2025-10-21
    listed $180,000 Active
18. 2025-03-31
    historical
19. 2024-11-15
    listed $198,000
20. 2024-08-31
    historical
21. 2024-06-03
    listed $190,000
22. 2024-05-31
    historical
23. 2024-04-01
    listed $193,000
24. 2024-03-31
    historical
25. 2024-01-08
    listed $199,500
26. 2023-12-31
    historical
27. 2023-11-03
    listed $215,000
28. 2023-07-31
    historical
29. 2023-06-22
    listed $220,000
30. 1995-03-28
    soldstatus $21,500
31. 1989-12-05
    soldstatus $18,500

ⓘ 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: $1,225 · $102/mo
• Projected year-2 tax: $1,225 · $102/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 5/10 Major FEMA zone AE · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 5 d/yr ≥105°F today · 19 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: $37,916
• − Mortgage interest: −$7,002
• − Property taxes: −$1,225
• − Insurance: −$5,744
• − Repairs & maintenance: −$3,033
• − Management: −$3,033
• − HOA: −$3,288
• − Depreciation: −$3,636
• Taxable income: $10,954
• Est. tax owed @ 24.0%: −$2,629
• After-tax cash flow: $9,201/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 — Ives Estates

• Score: 77/100
• State rank: #191
• US rank: #3061

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami-Dade County · 2,697,751 people
• City population: 51,591
• 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

+602.7% since first listed

21 events — show timeline

• 2026-05-19 Relisted — MARMLS
• 2026-05-19 Price Changed $130,000 MARMLS
• 2026-05-08 Pending — MARMLS
• 2026-04-06 Contingent — MARMLS
• 2026-02-10 Price Changed $120,000 MARMLS
• 2025-10-22 Price Changed $160,000 MARMLS
• 2025-10-21 Listed $180,000 MARMLS
• 2025-03-31 Listing Removed — Beaches MLS
• 2024-11-15 Listed $198,000 Beaches MLS
• 2024-08-31 Listing Removed — Beaches MLS
• 2024-06-03 Listed $190,000 Beaches MLS
• 2024-05-31 Listing Removed — Beaches MLS
• 2024-04-01 Listed $193,000 Beaches MLS
• 2024-03-31 Listing Removed — Beaches MLS
• 2024-01-08 Listed $199,500 Beaches MLS
• 2023-12-31 Listing Removed — Beaches MLS
• 2023-11-03 Listed $215,000 Beaches MLS
• 2023-07-31 Listing Removed — Beaches MLS
• 2023-06-22 Listed $220,000 Beaches MLS
• 1995-03-28 Sold (Public Records) $21,500 Public Records
• 1989-12-05 Sold (Public Records) $18,500 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,225 · +5.1% YoY. Source: county tax records.