13500 NE 3rd Ct #121 · North Miami, FL 33161

$116,800

1 bd · 2.0 ba · 693 sqft · Condo public records · 143 Days on market

Built 1975 $351/mo HOA · 11% 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
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Large floor plan in the heart of Miami, this 1-bedroom, 1.5-bath first-floor unit offers approximately 700 SF of living space. The residence features a remodeled kitchen, updated primary bathroom, and renovated half bath, making it move-in ready. Ideally located steps from the pool with convenient ground-level access. The property is part of a well-maintained, primarily owner-occupied building, as rentals are restricted for the first five years, which supports long-term upkeep and pride of ownership. Low maintenance fee offers affordable living in a centrally located community with easy access to I-95, Downtown Miami, North Miami, and Aventura, as well as nearby hospitals, schools, shopping

Key facts

• Easy access to i-95
• Remodeled kitchen
• Ground-level access

Tags

• REMODELED KITCHEN
• UPDATED PRIMARY BATHROOM
• RENOVATED HALF BATH
• GROUND-LEVEL ACCESS
• WELL-MAINTAINED BUILDING
• EASY ACCESS TO I-95

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $351; Association covers amenities, common areas, cable TV, insurance, laundry, structural maintenance, parking, roof, sewer, trash, and water; Community amenities include laundry facilities, pool, and elevator(s)

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Key card entry
• Utilities: Cable available
• Home design: West-facing; Entry on level 1; Total of 4 stories; Attached property (multi-unit building)
• Construction: Block and stucco construction; Slab foundation; Resale property
• Exterior features: Enclosed porch; Porch with screened area; Exterior lighting; Complex is fenced; Association pool

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Combined living and dining area; Tub with shower
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $117k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $117k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.0% vs local median 4.1% in North Miami — 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 (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, employment D.
• 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); 338 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,337/mo this rent would consume 69% 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 $808 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 + 0.0% rent growth), your $33k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $41k; list at $117k implies a 183% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,784 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 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 1975 — 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: 2.86% ✓
• Cap rate: 20.96%
• Cash-on-cash: 52.37%
• DSCR: 3.33
• GRM: 2.9

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: 27.7%
• Equity multiple: 2.09×
• Total profit: $35,594
• Equity at exit: $17,415

10-year hold

• IRR: 32.6%
• Equity multiple: 3.37×
• Total profit: $77,550
• Equity at exit: $10,099

Cash invested: $32,704 (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: 338
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $3,337 medium
• Mortgage (P&I): −$613
• Tax from tax record: −$197 /mo · $2,359/yr
• Insurance: −$49
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$351
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $1,001

Break-even live

Break-even rent $2,070

Max offer price $116,800

Occupancy floor 65%

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: $29,200
• Closing costs: $3,504
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $351 · $4,212/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $116,800 Active 143 DOM
2. 2026-06-17
   days on market $116,800 Active 142 DOM
3. 2026-06-16
   days on market $116,800 Active 141 DOM
4. 2026-06-15
   days on market $116,800 Active 140 DOM
5. 2026-06-13
   days on market $116,800 Active 138 DOM
6. 2026-06-09
   days on market $116,800 Active 134 DOM
7. 2026-06-08
   days on market $116,800 Active 133 DOM
8. 2026-06-07
   pricestatusdays on market $116,800 Active 132 DOM
9. 2026-06-04
   days on market $116,900 Active Under Contract 129 DOM
10. 2026-06-03
    days on market $116,900 Active Under Contract 128 DOM
11. 2026-06-02
    days on market $116,900 Active Under Contract 127 DOM
12. 2026-06-01
    days on market $116,900 Active Under Contract 126 DOM
13. 2026-05-31
    days on market $116,900 Active Under Contract 125 DOM
14. 2026-03-28
    historical Active Under Contract
15. 2026-01-26
    listed $116,900 Active
16. 2002-11-02
    soldstatus $41,333
17. 1991-09-04
    soldstatus $20,000
18. 1981-01-01
    soldstatus $40,500

ⓘ 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: $2,359 · $197/mo
• Projected year-2 tax: $2,359 · $197/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 6/10 Major FEMA zone AE · 51% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 27 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: $40,042
• − Mortgage interest: −$6,543
• − Property taxes: −$2,359
• − Insurance: −$5,702
• − Repairs & maintenance: −$3,203
• − Management: −$3,203
• − HOA: −$4,212
• − Depreciation: −$3,398
• Taxable income: $11,421
• Est. tax owed @ 24.0%: −$2,741
• After-tax cash flow: $9,268/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 — North Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• 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

+188.6% since first listed

5 events — show timeline

• 2026-03-28 Contingent — MARMLS
• 2026-01-26 Listed $116,900 MARMLS
• 2002-11-02 Sold (Public Records) $41,333 Public Records
• 1991-09-04 Sold (Public Records) $20,000 Public Records
• 1981-01-01 Sold (Public Records) $40,500 Public Records

Property tax history

+11.1%/yr

Latest (2025): $2,359 · +6.6% YoY. Source: county tax records.