942 NE 199th St #202 · Ives Estates, FL 33179

$85,000

1 bd · 1.5 ba · 823 sqft · Condo · 161 Days on market

Built 1969 $417/mo HOA · 21% of rent ↓ 28% 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 +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious bright corner 1 bedroom/1.5 bathrooms . . . Screened balcony overlooks peaceful garden . . . Quiet, friendly, gated complex provides a relaxing waterfront environment . . . Including Pool, Exercise room, Sauna, Clubhouse, Library . . . Low monthly maintenance . . . Easy to expressways, Aventura shopping & so much more . . . Minimum credit score 650. Assn claims to be age 55+.

Key facts

• Gated complex
• Peaceful garden
• Exercise room

Tags

• SCREENED BALCONY
• PEACEFUL GARDEN
• GATED COMPLEX
• WATERFRONT ENVIRONMENT
• POOL
• EXERCISE ROOM

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions
• HOA & community: Monthly association fee; Association covers amenities, common areas, insurance, laundry, structure maintenance, sewer, trash and water; Community amenities include clubhouse, fitness center, library, pool and elevators; Property is in a senior community

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Fenced complex
• Utilities: Water included in association fee; Sewer included in association fee; Power with central HVAC
• Home design: Mid-rise building (4 stories); Entry on the 2nd level; Attached property (unit in a multi-unit building); Resale property; Listed as fixer condition
• Construction: Block construction
• Exterior features: Balcony; Screened balcony/porch; Complex is fenced; Community (association) pool

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Bedroom on main level; Second-floor entry; Living/dining room
• Laundry & utility: Laundry included in association amenities

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 36% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 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: 2.32% ✓
• Cap rate: 14.11%
• Cash-on-cash: 27.93%
• DSCR: 2.24
• GRM: 3.6

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: 17.9%
• Equity multiple: 1.69×
• Total profit: $16,421
• Equity at exit: $12,674

10-year hold

• IRR: 23.5%
• Equity multiple: 2.68×
• Total profit: $40,048
• Equity at exit: $7,349

Cash invested: $23,800 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,973 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$417
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $554

Break-even live

Break-even rent $1,271

Max offer price $85,000

Occupancy floor 67%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5100 SW 41st St Pembroke Park, FL	1.0–2.0	1.0–2.0	815	$1,650	$2.02	4d	4	1.24mi
5100 SW 41st St Pembroke Park, FL	1.0–2.0	1.0–2.0	815	$1,699	$2.08	20d	3	1.24mi
3874 SW 48th Ave #3874 Pembroke Park, FL	2.0	2.0	950	$2,150	$2.26	8d	1	1.32mi
3856 SW 48th Ave #3856 Pembroke Park, FL	2.0	2.0	950	$2,150	$2.26	17d	1	1.34mi
3826 SW 48th Ave Unit 3826 Pembroke Park, FL	2.0	2.0	950	$2,200	$2.32	5d	1	1.34mi
3826 SW 48th Ave Unit 3826 Pembroke Park, FL	2.0	2.0	950	$2,200	$2.32	15d	1	1.34mi
3828 SW 48th Ave Unit D27 Hollywood, FL	2.0	2.0	950	$2,300	$2.42	24d	1	1.35mi
3842 SW 48th Ave Hollywood, FL	2.0	2.0	966	$2,000	$2.07	24d	1	1.36mi
3838 SW 48th Ave Unit 3838 Pembroke Park, FL	2.0	2.0	966	$2,200	$2.28	24d	1	1.37mi
5525 SW 41st St Hollywood, FL	2.0	2.0	1031	$2,145	$2.08	3d	1	1.37mi
5440 SW 38th Ct West Park, FL	2.0	1.0	768	$1,900	$2.47	24d	1	1.47mi
5440 SW 38th Ct West Park, FL	2.0	1.0	768	$1,900	$2.47	8d	1	1.47mi
5460 SW 38th Ct West Park, FL	2.0	1.0	890	$2,350	$2.64	24d	1	1.48mi
3700 SW 52nd Ave Hollywood, FL	2.0	2.0	850	$1,446	$1.70	24d	1	1.49mi
5540 SW 38th Ct West Park, FL	2.0	1.0	768	$2,000	$2.60	11d	1	1.49mi

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-04-27
   price $85,000
2. 2026-03-12
   price $90,000
3. 2026-02-19
   price $100,000
4. 2025-12-15
   listed $118,000 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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 24 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: $23,670
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,894
• − Management: −$1,894
• − HOA: −$5,004
• − Depreciation: −$2,473
• Taxable income: $5,945
• Est. tax owed @ 24.0%: −$1,427
• After-tax cash flow: $5,220/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

• Census place: Ives Estates, FL
• 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

-28.0% since first listed

4 events — show timeline

• 2026-04-27 Price Changed $85,000 MARMLS
• 2026-03-12 Price Changed $90,000 MARMLS
• 2026-02-19 Price Changed $100,000 MARMLS
• 2025-12-15 Listed $118,000 MARMLS