151 SE 1st St #1207 · Miami, FL 33131

$340,000

1 bd · 1.0 ba · 526 sqft · Condo public records · 143 Days on market

Built 2016 $545/mo HOA · 15% of rent

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Why this score? — see what drove the D+ 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 +14.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• DSCR +4.3/10.0
• Schools +4.2/10.0
• Appreciation +4.0/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0

Listing remarks

Beautiful building in the heart of Downtown Miami! Nice open studio! Stainless steel appliances, high ceilings, concrete flooring, modern Italian kitchen and bathroom cabinetry. Amazing pool at rooftop. Skyline lounge and club, gym, and sauna. 24/7 front desk. A few blocks from Bayfront park, Kaseya center and restaurants.

Key facts

• Rooftop pool
• Skyline lounge
• Gym

Tags

• STAINLESS STEEL APPLIANCES
• CONCRETE FLOORING
• MODERN ITALIAN KITCHEN
• ROOFTOP POOL
• SKYLINE LOUNGE
• GYM

Property features AI

Finance

• Other: Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee of $545; Association amenities include clubhouse, elevators, and pool; Association covers amenities, common areas, water, and sewer

Exterior

• Parking: On-street parking; Valet
• Security: Fire alarm; Secured lobby
• Utilities: Water included in association fee; Sewer included in association fee; Electric service available
• Home design: Condominium (attached property); 38 total stories; Entry on level 12; Resale unit
• Construction: Block construction
• Exterior features: Security/high-impact doors; Association pool

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Refrigerator; Trash compactor
• Flooring: Concrete
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Bedroom on main level; First-floor entry
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $340k.

Deal economics

• At list price, monthly cash flow is $46 ($554/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $340k).
• Recommended offer: $299k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 1.9% in 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 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime 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 rising (+2.0%/yr); 1007 active listings in the ZIP; high-income renter base; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 31% of the median local income ($144k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 143 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y 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 $213k; list at $340k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 4→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,200 (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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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 F 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.09% ✓
• Cap rate: 6.46%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.09% appreciation · 2.04% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.56×
• Total profit: $-42,274
• Equity at exit: $64,578

10-year hold

• IRR: -4.9%
• Equity multiple: 0.64×
• Total profit: $-34,182
• Equity at exit: $53,807

Cash invested: $95,200 (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 33131

• Home prices YoY: -0.7%
• Rents YoY: 2.0%
• Active inventory: 1007
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,716 medium
• Mortgage (P&I): −$1,783
• Tax from tax record: −$420 /mo · $5,043/yr
• Insurance: −$142
• HOA: −$545
• Vacancy / Maint / Mgmt: −$780
• Net cashflow: $46

Break-even live

Break-even rent $3,658

Max offer price $340,000

Occupancy floor 94%

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $545 · $6,540/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-18
   days on market $340,000 Active 143 DOM
2. 2026-06-17
   days on market $340,000 Active 142 DOM
3. 2026-06-16
   days on market $340,000 Active 141 DOM
4. 2026-06-15
   days on market $340,000 Active 140 DOM
5. 2026-06-13
   days on market $340,000 Active 138 DOM
6. 2026-06-09
   days on market $340,000 Active 134 DOM
7. 2026-06-08
   days on market $340,000 Active 133 DOM
8. 2026-06-07
   days on market $340,000 Active 132 DOM
9. 2026-06-04
   days on market $340,000 Active 129 DOM
10. 2026-06-03
    days on market $340,000 Active 128 DOM
11. 2026-06-02
    days on market $340,000 Active 127 DOM
12. 2026-06-01
    days on market $340,000 Active 126 DOM
13. 2026-05-31
    days on market $340,000 Active 125 DOM
14. 2026-01-26
    listed $340,000 Active
15. 2025-12-31
    historical
16. 2025-08-07
    listed $355,000 Active
17. 2025-06-08
    historical
18. 2025-05-22
    price $349,000
19. 2025-01-08
    listed $355,000 Active
20. 2024-12-31
    historical
21. 2024-11-27
    price $355,000
22. 2024-08-23
    price $370,000
23. 2024-07-08
    listed $380,000 Active
24. 2021-09-30
    soldstatus $213,000
25. 2021-08-03
    soldstatus $213,000 Closed
26. 2021-07-16
    status Pending
27. 2021-02-17
    price $219,900
28. 2021-02-15
    listed $279,900 Active
29. 2020-11-05
    historical
30. 2020-06-15
    price $219,900
31. 2019-12-13
    status Active
32. 2019-11-14
    historical Hold
33. 2019-10-23
    price $245,900
34. 2019-03-21
    price $218,000
35. 2018-11-27
    price $229,900
36. 2018-08-22
    price $234,900
37. 2018-01-12
    listed $279,900 Active
38. 2016-09-28
    soldstatus $210,900

ⓘ 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: $5,043 · $420/mo
• Projected year-2 tax: $5,043 · $420/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 X (unshaded) · 50% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 4 d/yr ≥103°F today · 15 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,598
• − Mortgage interest: −$19,045
• − Property taxes: −$5,043
• − Insurance: −$1,700
• − Repairs & maintenance: −$3,568
• − Management: −$3,568
• − HOA: −$6,540
• − Depreciation: −$9,891
• Taxable loss: −$4,757
• Est. tax savings @ 24.0%: +$1,142
• After-tax cash flow: $1,695/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

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 23,095
• Household income: $144,138
• Rent vs Own: 63.0% rent · 37.0% own
• Severe rent burden: 1866.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 52% Two or more races 35% White 33% Asian 4% Black 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1% Salvadoran 3%
• Common ancestry: Romanian 2% Scotch-Irish 2% Estonian 2%
• Foreign-born: 54% · Canada, Jamaica, Dominican Republic
• Languages at home: 30% English-only · Spanish 53% Other Indo-European 6% French/Haitian/Cajun 4%

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: ▼ -2.09%
• Current HPI: 281.1156
• Rent YoY: ▲ 2.04%
• 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

+61.2% since first listed

25 events — show timeline

• 2026-01-26 Listed $340,000 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-08-07 Listed $355,000 MARMLS
• 2025-06-08 Listing Removed — MARMLS
• 2025-05-22 Price Changed $349,000 MARMLS
• 2025-01-08 Listed $355,000 MARMLS
• 2024-12-31 Listing Removed — MARMLS
• 2024-11-27 Price Changed $355,000 MARMLS
• 2024-08-23 Price Changed $370,000 MARMLS
• 2024-07-08 Listed $380,000 MARMLS
• 2021-09-30 Sold (Public Records) $213,000 Public Records
• 2021-08-03 Sold (MLS) $213,000 MARMLS
• 2021-07-16 Pending — MARMLS
• 2021-02-17 Price Changed $219,900 MARMLS
• 2021-02-15 Listed $279,900 MARMLS
• 2020-11-05 Listing Removed — MARMLS
• 2020-06-15 Price Changed $219,900 MARMLS
• 2019-12-13 Relisted — MARMLS
• 2019-11-14 Delisted — MARMLS
• 2019-10-23 Price Changed $245,900 MARMLS
• 2019-03-21 Price Changed $218,000 MARMLS
• 2018-11-27 Price Changed $229,900 MARMLS
• 2018-08-22 Price Changed $234,900 MARMLS
• 2018-01-12 Listed $279,900 MARMLS
• 2016-09-28 Sold (Public Records) $210,900 Public Records

Property tax history

+40.9%/yr

Latest (2025): $5,043 · +4.9% YoY. Source: county tax records.