2775 NE 187th St #314 · Aventura, FL 33180

$505,000

3 bd · 2.0 ba · 1,367 sqft · Condo public records · 22 Days on market

Built 2005

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.4/30.0
• 1% rule +4.5/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent Location! Stunning 3/2 corner unit. Priced to sell!! Split floorplan with a lot of bright natural light coming in. Open Kitchen. Stainless steel appliances, Italian kitchen with granite counter tops. Washer/Dryer. Close to Aventura mall, restaurants and Aventura Charter school and minutes away from Sunny Isles Beach, Venture West is filled with great amenities such as valet parking, 24/7 security and front desk, swimming pool, cabanas, gym, private theatre, business center and is a pet friendly building. A great investment property.

Key facts

• New floors
• Valet parking
• Billiards room

Tags

• CORNER UNIT
• FULLY FURNISHED
• NEW FLOORS
• 24 HOUR SECURITY
• VALET PARKING
• BILLIARDS ROOM

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee (includes amenities, cable TV, internet, structural maintenance, sewer, trash, water); Association amenities include business center, clubhouse, elevators, fitness center, pool, sauna; Association fee listed (monthly)

Exterior

• Parking: Assigned detached garage with one covered space; Valet available
• Security: Closed-circuit cameras; Doorman; Secured lobby; Fire sprinkler system; Smoke detectors
• Utilities: Cable available
• Home design: Condominium unit in a mid/high-rise (total 7 stories); One-story unit on entry level 3; West-facing; Updated/remodeled; Attached property
• Construction: Block construction; Effective year built
• Exterior features: Balcony (open); Security/high-impact doors; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom located on main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds and impact glass windows; Furnished; Bedroom on main level; Breakfast area; First-floor entry; Combined living/dining room; Split bedroom layout; Tub/shower
• Laundry & utility: Washer and dryer; Utility / laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $505k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $502k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $482k (4.5% below list).
• Recommended offer: $482k (4.5% below list) — sets the bar for 1% rule.
• Cap rate 4.2% 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: health & safety A+, amenities A, commute 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.
• Zoned schools: Aventura Waterways K-8 Center (math 56% / reading 65%, grade B-, #664 of 2,144 statewide, top 32%, 2,168 students, 32% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Dr. Michael M. Krop Senior High (math 21% / reading 46%, grade F, #400 of 667 statewide, top 61%, 2,235 students, 49% FRL) — zoned schools average 44% FRL vs 64% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.5%/yr); 993 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,822/mo this rent would consume 64% of the median local household income ($91k/yr) (locally 1838% 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 $3k of loan paydown is wiped out by about $15k 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 22 days — a 2% lower offer ($497k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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 $400k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 26% of rent.
• 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $482,180 (4.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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. 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: 0.95% ✗
• Cap rate: 4.24%
• Cash-on-cash: -7.35%
• DSCR: 0.67
• GRM: 8.7

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: -41.7%
• Equity multiple: -0.25×
• Total profit: $-177,213
• Equity at exit: $75,297

10-year hold

• IRR: —
• Equity multiple: -1.20×
• Total profit: $-310,598
• Equity at exit: $43,663

Cash invested: $141,400 (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 33180

• Rents YoY: -1.5%
• Active inventory: 993
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $4,822 medium
• Mortgage (P&I): −$2,648
• Tax from tax record: −$539 /mo · $6,473/yr
• Insurance: −$210
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 16 same-building comps: −$1,277
• Vacancy / Maint / Mgmt: −$1,013
• Net cashflow: $-1,292

Break-even live

Break-even rent $6,458

Max offer price $276,691

Occupancy floor —

Sensitivity live

Price	-10% $-1,007	-5% $-1,149	+0% $-1,292	+5% $-1,435	+10% $-1,578
Rent	-10% $-1,673	-5% $-1,483	+0% $-1,292	+5% $-1,102	+10% $-911
Rate	-1.0pp $-1,038	-0.5pp $-1,164	base $-1,292	+0.5pp $-1,423	+1.0pp $-1,556

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: $126,250
• Closing costs: $15,150
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $505,000 Active 22 DOM
2. 2026-06-18
   days on market $505,000 Active 19 DOM
3. 2026-06-17
   days on market $505,000 Active 18 DOM
4. 2026-06-16
   days on market $505,000 Active 17 DOM
5. 2026-06-15
   days on market $505,000 Active 16 DOM
6. 2026-06-13
   days on market $505,000 Active 14 DOM
7. 2026-06-09
   days on market $505,000 Active 10 DOM
8. 2026-06-08
   days on market $505,000 Active 9 DOM
9. 2026-06-07
   days on market $505,000 Active 8 DOM
10. 2026-06-04
    days on market $505,000 Active 5 DOM
11. 2026-06-03
    days on market $505,000 Active 4 DOM
12. 2026-06-02
    days on market $505,000 Active 3 DOM
13. 2026-06-01
    days on market $505,000 Active 2 DOM
14. 2026-05-31
    remarks 695-char remark
15. 2026-05-31
    listed $505,000 Active 1 DOM

ⓘ 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: $6,473 · $539/mo
• Projected year-2 tax: $6,473 · $539/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 7/10 Severe FEMA zone AE · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 28 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: $57,862
• − Mortgage interest: −$28,288
• − Property taxes: −$6,473
• − Insurance: −$7,644
• − Repairs & maintenance: −$4,629
• − Management: −$4,629
• − HOA: −$15,324
• − Depreciation: −$14,691
• Taxable loss: −$23,815
• Est. tax savings @ 24.0%: +$5,716
• After-tax cash flow: $-9,793/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): 34,147
• Household income: $91,055
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1838.0

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: White 46% Hispanic / Latino 45% Two or more races 28% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 7% Dominican 1% Salvadoran 6%
• Common ancestry: Scotch-Irish 5% Romanian 5% Italian 3%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 30% English-only · Spanish 49% Other Indo-European 6% Russian/Polish/Slavic 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: ▼ -343.81%
• Current HPI: 234.7715
• Rent YoY: ▼ -1.51%
• 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

+17.4% since first listed

19 events — show timeline

• 2026-05-30 Listed $505,000 MARMLS
• 2025-11-03 Rental Removed $3,850 MARMLS
• 2025-05-22 Price Changed $3,850 MARMLS
• 2025-05-14 Price Changed $540,000 MARMLS
• 2025-05-08 Price Changed $3,900 MARMLS
• 2025-05-01 Price Changed $3,990 MARMLS
• 2025-03-29 Listed for Rent $4,200 MARMLS
• 2025-03-13 Price Changed $564,000 MARMLS
• 2025-02-11 Listed $570,000 MARMLS
• 2024-12-02 Rental Removed $4,050 MARMLS
• 2024-07-03 Price Changed $4,050 MARMLS
• 2024-05-15 Price Changed $4,150 MARMLS
• 2024-05-01 Listed for Rent $4,200 MARMLS
• 2021-12-08 Sold (Public Records) $400,000 Public Records
• 2021-11-30 Sold (MLS) $400,000 MARMLS
• 2021-10-31 Contingent — MARMLS
• 2021-08-03 Listed $440,000 MARMLS
• 2011-01-05 Sold (MLS) $220,000 MARMLS
• 2006-04-04 Sold (Public Records) $430,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $6,473 · +6.8% YoY. Source: county tax records.