18151 NE 31st Ct #701 · Aventura, FL 33160

$389,000

3 bd · 2.0 ba · 1,610 sqft · Condo public records · 125 Days on market

Built 1981 $1453/mo HOA · 26% of rent

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Why this score? — see what drove the C 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 +16.0/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• DSCR +4.9/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautiful skyline water view, city, gardens, and lake. The proximity to the beach, Aventura Mall, and houses of worship makes this lovely 3/2.5 corner unit and ideal property. The master bedroom is very spacious with plenty of closet space. The second room is surprisingly large with plenty of closet space. A very generous third bedroom completes this fantastic floorplan. The semi open kitchen provides a new counter top as well as s/s appliances. Big wrap around balcony and hurricane shutters. Washer and dryer in unit is quite UNIQUE!. Steps from the exclusive William Island, the marina, and shops and supermarkets. The City of Aventura enjoys great schools. 24/7 security building complex, tennis courts, two pools, fitness center, sauna, hot tub, and more!

Key facts

• Gated community
• Two swimming pools
• $1,453 HOA

Tags

• FULLY REMODELED KITCHEN
• EXPANDED L SHAPED BALCONY
• WASHER AND DRYER HOOK UP
• GATED COMMUNITY
• RESORT STYLE AMENITIES
• TWO SWIMMING POOLS

Property features AI

Finance

• Other: Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee; Association fee covers amenities, common areas, cable TV, structure maintenance, parking, sewer, security, trash, and water; Association amenities include: bike storage, clubhouse, fitness center, hobby room, laundry, barbecue, picnic area, pool, sauna, spa/hot tub, storage, tennis courts, trash service, and elevators

Exterior

• Parking: Assigned parking (1 space); Secured garage/parking; One covered space; One-car garage
• Security: Complex fenced; Secured elevator; Secured garage/parking; Fire sprinkler system; Smoke detectors
• Utilities: Water service included in association; Sewer included in association; Cable included in association; Trash service included in association
• Home design: Attached property; Located on entry level 7; High-rise building (22 stories total); Has a view
• Construction: Resale property
• Exterior features: Balcony (open); Association pool; Lakefront location; Exterior lighting

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator; Eat-in kitchen / breakfast area
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Breakfast area; Dual sinks; Eat-in kitchen; Combined living and dining area; Tub with shower; Walk-in closets
• Laundry & utility: Washer hookup; Dryer hookup; Common area laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $389k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $389k).
• Recommended offer: $342k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 2.6% in Aventura — 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 80/100 on livability (#127 in FL, #1,834 nationally) — a professional / high-income tenant draw. Strengths: schools A+, health & safety A+, amenities A; Watch: crime D+, 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 flat; 1870 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $5,487/mo this rent would consume 98% of the median local household income ($67k/yr) (locally 3106% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $5k of equity ($3k loan paydown + $2k appreciation (0.5% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $86k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $300k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $342,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 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 A-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 D 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. 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: 1.41% ✓
• Cap rate: 6.89%
• Cash-on-cash: 2.13%
• DSCR: 1.09
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $487
• Equity at exit: $123,310

10-year hold

• IRR: 3.3%
• Equity multiple: 1.35×
• Total profit: $38,636
• Equity at exit: $156,765

Cash invested: $108,920 (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 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1870
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $5,487 medium
• Mortgage (P&I): −$2,040
• Tax est. 1.5%: −$486 /mo · $5,835/yr
• Insurance: −$162
• HOA: −$1,453
• Vacancy / Maint / Mgmt: −$1,152
• Net cashflow: $193

Break-even live

Break-even rent $5,242

Max offer price $389,000

Occupancy floor 91%

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17875 Collins Ave Sunny Isles Beach, FL	3.0	3.0	2122	$22,000	$10.37	10d	3	1.11mi
17141 Collins Ave Sunny Isles Beach, FL	3.0	2.5	2042	$19,000	$9.30	24d	1	1.23mi
17141 Collins Ave #4602 Sunny Isles Beach, FL	2.0	2.5	2042	$25,000	$12.24	7d	1	1.23mi
17141 Collins Ave #4602 Sunny Isles Beach, FL	2.0	2.5	2042	$25,000	$12.24	5d	1	1.23mi

HOA detail condo

• Monthly dues: $1,453 · $17,436/yr
• Likely covers: waterpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $389,000 Active 125 DOM
2. 2026-06-17
   days on market $389,000 Active 124 DOM
3. 2026-06-16
   days on market $389,000 Active 123 DOM
4. 2026-06-15
   days on market $389,000 Active 122 DOM
5. 2026-06-13
   days on market $389,000 Active 120 DOM
6. 2026-06-09
   days on market $389,000 Active 116 DOM
7. 2026-06-08
   days on market $389,000 Active 115 DOM
8. 2026-06-07
   days on market $389,000 Active 114 DOM
9. 2026-06-04
   days on market $389,000 Active 111 DOM
10. 2026-06-03
    days on market $389,000 Active 110 DOM
11. 2026-06-02
    days on market $389,000 Active 109 DOM
12. 2026-06-01
    days on market $389,000 Active 108 DOM
13. 2026-05-31
    days on market $389,000 Active 107 DOM
14. 2026-04-19
    price $389,000
15. 2026-02-13
    listed $474,800 Active
16. 2018-11-02
    soldstatus $300,000
17. 2018-10-29
    soldstatus $300,000 Sold 764-char remark

    Show marketing remark (764 chars)

    Beautiful skyline water view, city, gardens, and lake. The proximity to the beach, Aventura Mall, and houses of worship makes this lovely 3/2.5 corner unit and ideal property. The master bedroom is very spacious with plenty of closet space. The second room is surprisingly large with plenty of closet space. A very generous third bedroom completes this fantastic floorplan. The semi open kitchen provides a new counter top as well as s/s appliances. Big wrap around balcony and hurricane shutters. Washer and dryer in unit is quite UNIQUE!. Steps from the exclusive William Island, the marina, and shops and supermarkets. The City of Aventura enjoys great schools. 24/7 security building complex, tennis courts, two pools, fitness center, sauna, hot tub, and more!

18. 2018-10-01
    status Pending 764-char remark

    Show marketing remark (764 chars)

    Beautiful skyline water view, city, gardens, and lake. The proximity to the beach, Aventura Mall, and houses of worship makes this lovely 3/2.5 corner unit and ideal property. The master bedroom is very spacious with plenty of closet space. The second room is surprisingly large with plenty of closet space. A very generous third bedroom completes this fantastic floorplan. The semi open kitchen provides a new counter top as well as s/s appliances. Big wrap around balcony and hurricane shutters. Washer and dryer in unit is quite UNIQUE!. Steps from the exclusive William Island, the marina, and shops and supermarkets. The City of Aventura enjoys great schools. 24/7 security building complex, tennis courts, two pools, fitness center, sauna, hot tub, and more!

19. 2018-09-04
    listed $325,000 Active 764-char remark

    Show marketing remark (764 chars)

    Beautiful skyline water view, city, gardens, and lake. The proximity to the beach, Aventura Mall, and houses of worship makes this lovely 3/2.5 corner unit and ideal property. The master bedroom is very spacious with plenty of closet space. The second room is surprisingly large with plenty of closet space. A very generous third bedroom completes this fantastic floorplan. The semi open kitchen provides a new counter top as well as s/s appliances. Big wrap around balcony and hurricane shutters. Washer and dryer in unit is quite UNIQUE!. Steps from the exclusive William Island, the marina, and shops and supermarkets. The City of Aventura enjoys great schools. 24/7 security building complex, tennis courts, two pools, fitness center, sauna, hot tub, and more!

20. 2001-12-03
    soldstatus $170,000
21. 1987-12-08
    soldstatus $132,400
22. 1987-11-01
    soldstatus $132,400

ⓘ 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: $65,839
• − Mortgage interest: −$21,790
• − Property taxes: −$5,835
• − Insurance: −$1,945
• − Repairs & maintenance: −$5,267
• − Management: −$5,267
• − HOA: −$17,436
• − Depreciation: −$11,316
• Taxable loss: −$3,018
• Est. tax savings @ 24.0%: +$724
• After-tax cash flow: $3,042/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 — Aventura

• Score: 80/100
• State rank: #127
• US rank: #1834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aventura, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 34,147
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,718
• Household income: $67,040
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 3106.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 46% White 44% Two or more races 27% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 8% Dominican 1% Salvadoran 4%
• Common ancestry: Scotch-Irish 8% Hispanic 3% Subsaharan African 3%
• Foreign-born: 61% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · Spanish 45% Russian/Polish/Slavic 12% Other Indo-European 5%

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: ▲ 0.53%
• Current HPI: 284.9293
• Rent YoY: ▲ 0.94%
• 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

+193.8% since first listed

9 events — show timeline

• 2026-04-19 Price Changed $389,000 MARMLS
• 2026-02-13 Listed $474,800 MARMLS
• 2018-11-02 Sold (Public Records) $300,000 Public Records
• 2018-10-29 Sold (MLS) $300,000 MARMLS
• 2018-10-01 Pending — MARMLS
• 2018-09-04 Listed $325,000 MARMLS
• 2001-12-03 Sold (Public Records) $170,000 Public Records
• 1987-12-08 Sold (Public Records) $132,400 Public Records
• 1987-11-01 Sold (Public Records) $132,400 Public Records

Property tax history

-19.3%/yr

Latest (2025): $74 · -95.4% YoY. Source: county tax records.