700 NE 24th St #1103 · Miami, FL 33137

$1,595,000

3 bd · 3.5 ba · — sqft · Condo · 98 Days on market

Built 2025 $1650/mo HOA · 8% of rent

---

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 +26.1/30.0
• DSCR +8.8/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks

Stunning Residence #1103 at Aria Reserve featuring 3 bedrooms + den and 3.5 bathrooms across approximately 1,641 SF of thoughtfully designed living space. Enjoy spectacular, unobstructed views of the ocean, Biscayne Bay, and the iconic Miami skyline through expansive floor-to-ceiling windows. The open-concept living and dining areas seamlessly extend to a spacious private terrace, perfect for indoor–outdoor entertaining. The versatile den can function as a home office, guest room, or additional flex space to suit your needs.

Key facts

• Versatile den
• Private terrace
• Unobstructed views

Tags

• UNOBSTRUCTED VIEWS
• PRIVATE TERRACE
• OPEN-CONCEPT LIVING
• VERSATILE DEN

Property features AI

Finance

• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee of $1,650; HOA covers amenities; Association amenities include bike storage, business center, barbecue, picnic area, playground

Exterior

• Parking: Underground parking; Garage door opener; 1 covered garage space
• Security: Fire alarm; Secured garage/parking; Key card entry; Security guard
• Utilities: Appliance and HVAC energy-efficient features
• Home design: Condominium in a 40-story building; Entry level: 11; Unit on level 11; Property is attached; Has a view; Bayfront waterfront
• Construction: Block construction
• Exterior features: Balcony; Barbecue; Security/high-impact doors; Storm/security shutters; Open balcony/patio

Interior

• Bedrooms: Den
• Flooring: Ceramic tile
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Elevator; Central vacuum

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath condo listed at $1.59M.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $1.59M).
• Recommended offer: $1.45M (9.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 (+2.7%/yr); 757 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $21,100/mo this rent would consume 269% of the median local household income ($94k/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 $15k of equity ($11k loan paydown + $4k appreciation (0.3% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.3% appreciation + 2.7% rent growth), your $447k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$100k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($1.45M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask is 17642% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $1,451,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.32% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.74%
• DSCR: 1.48
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.50×
• Total profit: $223,994
• Equity at exit: $484,941

10-year hold

• IRR: 14.7%
• Equity multiple: 2.65×
• Total profit: $737,567
• Equity at exit: $600,618

Cash invested: $446,600 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 757
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $21,100 high
• Mortgage (P&I): −$8,364
• Tax est. 1.5%: −$1,994 /mo · $23,925/yr
• Insurance: −$665
• HOA: −$1,650
• Vacancy / Maint / Mgmt: −$4,431
• Net cashflow: $3,997

Break-even live

Break-even rent $16,041

Max offer price $1,595,000

Occupancy floor 76%

Sensitivity live

Price	-10% $5,099	-5% $4,548	+0% $3,997	+5% $3,445	+10% $2,894
Rent	-10% $2,330	-5% $3,163	+0% $3,997	+5% $4,830	+10% $5,663
Rate	-1.0pp $4,800	-0.5pp $4,402	base $3,997	+0.5pp $3,583	+1.0pp $3,163

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: $398,750
• Closing costs: $47,850
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
700 NE 24th St Unit 1601 Miami, FL	4.0	5.5	2530	$29,995	$11.86	25d	1	0.01mi
700 NE 24th St Unit 5904 Miami, FL	4.0	5.0	3812	$40,000	$10.49	25d	1	0.01mi
700 NE 24th St Ph 5801 Miami, FL	4.0	5.5	3215	$40,000	$12.44	25d	1	0.01mi
700 NE 24th St #4501 Miami, FL	4.0	5.5	—	$20,000	—	25d	1	0.01mi
711 NE 23rd Ter Unit 607 Miami, FL	4.0	5.5	2216	$19,500	$8.80	25d	1	0.03mi
725 NE 24th St #4007 Miami, FL	4.0	5.5	2582	$20,000	$7.75	16d	1	0.05mi
788 NE 23rd St Unit 3001 Miami, FL	3.0	4.5	2315	$25,000	$10.80	25d	1	0.07mi
788 NE 23rd St Miami, FL	3.0	4.5	2743	$22,500	$8.20	5d	2	0.07mi
788 NE 23rd St Miami, FL	3.0–4.0	4.0–4.5	2322	$24,000	$10.34	25d	2	0.07mi
788 NE 23rd St Miami, FL	3.0	4.5	2532	$23,500	$9.28	18d	2	0.07mi
700 NE 26th Ter #3901 Miami, FL	3.0	4.5	2362	$24,200	$10.25	8d	1	0.15mi
700 NE 26th Ter #4403 Miami, FL	4.0	6.0	3788	$30,000	$7.92	15d	1	0.15mi
700 NE 26th Ter #3901 Miami, FL	3.0	4.5	2362	$25,500	$10.80	25d	1	0.15mi
700 NE 26th Ter Unit 260 Miami, FL	3.0	3.0	2141	$20,000	$9.34	25d	1	0.15mi
700 NE 26th Ter #2901 Miami, FL	4.0	4.5	2368	$25,500	$10.77	25d	1	0.15mi
700 NE 26th Ter #2602 Miami, FL	3.0	3.5	2141	$18,000	$8.41	4d	1	0.15mi
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$18,500	$14.68	3d	13	0.38mi
480 NE 31st St Miami, FL	4.0	4.5	2379	$19,000	$7.99	25d	1	0.44mi
650 NE 32nd St Miami, FL	4.0	5.0	3341	$21,500	$6.44	25d	1	0.48mi
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$13,753	$5.18	3d	19	0.64mi
121 NE 34th St Miami, FL	4.0	5.0	2648	$25,000	$9.44	25d	1	0.70mi
1000 Venetian Way #105 Miami Beach, FL	4.0	6.0	—	$22,000	—	25d	1	1.03mi
1000 Venetian Way #105 Miami Beach, FL	4.0	6.0	4440	$22,000	$4.95	17d	1	1.03mi
1000 Venetian Way #105 Miami Beach, FL	4.0	6.0	4440	$23,500	$5.29	23d	1	1.03mi
1000 Venetian Way #105 Miami Beach, FL	4.0	6.0	4440	$23,500	$5.29	21d	1	1.03mi
1000 Venetian Way #105 Miami Beach, FL	4.0	6.0	4440	$22,000	$4.95	3d	1	1.03mi
1100 Biscayne Blvd #6104 Miami, FL	3.0	2.5	2731	$18,000	$6.59	25d	1	1.05mi
1040 Biscayne Blvd Miami, FL	3.0	3.5	2581	$19,500	$7.56	25d	1	1.10mi
1000 Biscayne Blvd Miami, FL	4.0–6.0	5.5–6.5	6500	$35,000	$5.38	17d	3	1.12mi
4403 Palm Ln Unit n/a Miami, FL	4.0	4.5	4206	$36,000	$8.56	25d	1	1.29mi

HOA detail condo

• Monthly dues: $1,650 · $19,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-07
   status $1,595,000 Pending 98 DOM
2. 2026-02-21
   listed $8,990
3. 2026-02-14
   listed $1,595,000 Active
4. 2026-01-16
   historical
5. 2026-01-01
   historical $12,000
6. 2025-12-29
   price $1,695,000
7. 2025-11-21
   price $1,750,000
8. 2025-11-10
   price $1,795,000
9. 2025-11-08
   listed $12,000
10. 2025-11-08
    historical $12,000
11. 2025-10-27
    price $1,849,000
12. 2025-09-25
    listed $12,000
13. 2025-09-19
    historical $12,000
14. 2025-09-09
    listed $12,000
15. 2024-09-30
    listed $1,899,000 Active

ⓘ 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: $253,204
• − Mortgage interest: −$89,345
• − Property taxes: −$23,925
• − Insurance: −$7,975
• − Repairs & maintenance: −$20,256
• − Management: −$20,256
• − HOA: −$19,800
• − Depreciation: −$46,400
• Taxable income: $25,246
• Est. tax owed @ 24.0%: −$6,059
• After-tax cash flow: $41,900/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): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% 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 0.63)
• Race & ethnicity: Hispanic / Latino 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% 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: ▲ 0.27%
• Current HPI: 385.1514
• Rent YoY: ▲ 2.73%
• 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

-99.5% since first listed

14 events — show timeline

• 2026-02-21 Listed for Rent $8,990 MARMLS
• 2026-02-14 Listed $1,595,000 MARMLS
• 2026-01-16 Listing Removed — MARMLS
• 2026-01-01 Rental Removed $12,000 REALLYO
• 2025-12-29 Price Changed $1,695,000 MARMLS
• 2025-11-21 Price Changed $1,750,000 MARMLS
• 2025-11-10 Price Changed $1,795,000 MARMLS
• 2025-11-08 Listed for Rent $12,000 REALLYO
• 2025-11-08 Rental Removed $12,000 REALLYO
• 2025-10-27 Price Changed $1,849,000 MARMLS
• 2025-09-25 Listed for Rent $12,000 REALLYO
• 2025-09-19 Rental Removed $12,000 MARMLS
• 2025-09-09 Listed for Rent $12,000 MARMLS
• 2024-09-30 Listed $1,899,000 MARMLS