1501 NE 191st St Unit C114 · Ojus, FL 33179

$179,000

1 bd · 1.0 ba · 898 sqft · Condo public records · 131 Days on market

Built 1969 $495/mo HOA · 15% 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 +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and comfortable first-floor condo, move-in ready! Enclosed balcony adds extra space perfect for a small office or den. Ceramic floors throughout, kitchen with granite countertops, updated bathroom with shower, new A/C and water heater. Back door with direct access to pool and garden. Assigned parking. All ages welcome. HOA includes water. Well-maintained community, steps from bus stop and free trolley. Close to Aventura and beaches.

Key facts

• Enclosed balcony
• Steps from bus stop
• Granite countertops

Tags

• ENCLOSED BALCONY
• GRANITE COUNTERTOPS
• UPDATED BATHROOM
• DIRECT ACCESS TO POOL
• WELL MAINTAINED COMMUNITY
• STEPS FROM BUS STOP

Property features AI

Finance

• Other: Pets: conditional or none; restrictions or possible restrictions apply
• HOA & community: Monthly association fee; Association fee covers management, laundry, grounds maintenance, parking, sewer, trash and water; Association amenities include pool, trash service, and elevators

Exterior

• Parking: Assigned parking; Guest parking; One covered space (1-car garage)
• Security: Closed-circuit cameras
• Utilities: Water included in association; Sewer included in association; Trash included in association
• Home design: Attached property; 4-story building; Entry on first level; Effective year built
• Construction: Brick and block construction
• Exterior features: Patio; Association pool

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Ceramic tile; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Bedroom on main level; Breakfast area; Closet cabinetry; Eat-in kitchen; First floor entry; Living/dining room; Den
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $827 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 8.4% 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: 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.
• Zoned schools: Virginia A Boone-Highland Oaks School (math 50% / reading 60%, grade C, #872 of 2,144 statewide, top 42%, 600 students, 40% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Dr. Michael M. Krop Senior High (math 21% / reading 46%, grade F, #400 of 667 statewide, top 61%, 2,235 students, 49% FRL) — zoned schools average 47% FRL vs 64% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 576 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,239/mo this rent would consume 60% 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 $5k 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 $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $76k; list at $179k implies a 136% gain — meaningful room to come down on a strong offer.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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 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. 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: 1.81% ✓
• Cap rate: 11.84%
• Cash-on-cash: 19.80%
• DSCR: 1.88
• GRM: 4.6

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: 8.1%
• Equity multiple: 1.30×
• Total profit: $15,212
• Equity at exit: $26,689

10-year hold

• IRR: 14.2%
• Equity multiple: 1.96×
• Total profit: $48,296
• Equity at exit: $15,477

Cash invested: $50,120 (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: 576
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $3,239 medium
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$495
• Vacancy / Maint / Mgmt: −$680
• Net cashflow: $827

Break-even live

Break-even rent $2,192

Max offer price $179,000

Occupancy floor 69%

Sensitivity live

Price	-10% $951	-5% $889	+0% $827	+5% $765	+10% $703
Rent	-10% $571	-5% $699	+0% $827	+5% $955	+10% $1,083
Rate	-1.0pp $917	-0.5pp $873	base $827	+0.5pp $781	+1.0pp $734

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $495 · $5,940/yr
• Likely covers: waterpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-22
   days on market $179,000 Active 131 DOM
2. 2026-06-21
   days on market $179,000 Active 130 DOM
3. 2026-06-18
   days on market $179,000 Active 127 DOM
4. 2026-06-17
   pricedays on market $179,000 Active 126 DOM
5. 2026-06-16
   days on market $192,000 Active 125 DOM
6. 2026-06-15
   days on market $192,000 Active 124 DOM
7. 2026-06-13
   days on market $192,000 Active 122 DOM
8. 2026-06-09
   days on market $192,000 Active 118 DOM
9. 2026-06-08
   days on market $192,000 Active 117 DOM
10. 2026-06-07
    days on market $192,000 Active 116 DOM
11. 2026-06-04
    days on market $192,000 Active 113 DOM
12. 2026-06-03
    days on market $192,000 Active 112 DOM
13. 2026-06-02
    days on market $192,000 Active 111 DOM
14. 2026-06-01
    days on market $192,000 Active 110 DOM
15. 2026-05-31
    days on market $192,000 Active 109 DOM
16. 2026-02-11
    listed $192,000 Active
17. 2003-12-15
    soldstatus $76,000
18. 1973-03-01
    soldstatus $25,750

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

Taxation est. · year 1

• Rental income: $38,874
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$3,110
• − Management: −$3,110
• − HOA: −$5,940
• − Depreciation: −$5,207
• Taxable income: $7,900
• Est. tax owed @ 24.0%: −$1,896
• After-tax cash flow: $8,030/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

+645.6% since first listed

3 events — show timeline

• 2026-02-11 Listed $192,000 MARMLS
• 2003-12-15 Sold (Public Records) $76,000 Public Records
• 1973-03-01 Sold (Public Records) $25,750 Public Records

Property tax history

+2.8%/yr

Latest (2025): $137 · +12.9% YoY. Source: county tax records.