1600 NE 1st Ave #2017 · Miami, FL 33132

$440,000

1 bd · 1.0 ba · 752 sqft · Condo public records · 432 Days on market

Built 2018 $785/mo HOA · 16% 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 +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.2/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Appreciation +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Experience modern urban living in this spacious 1-bed, 1-bath residence at Canvas Condo, located in Miami’s vibrant Arts & Entertainment District. This unit features floor to ceiling impact windows, an open kitchen with Italian cabinetry, quartz countertops, and stainless steel appliances, plus a generous private balcony. The oversized bathroom includes a soaking tub and sleek, contemporary finishes. Canvas offers resort-style amenities: 3 pools, a full-service fitness center, spa, racquetball court, yoga garden, media room, business center, and 24/7 concierge. Unbeatable location—minutes from Wynwood, Design District, Downtown, and Miami Beach. Pet-friendly building with

Key facts

• Quartz countertops
• Private balcony
• Oversized bathroom

Tags

• OPEN KITCHEN
• ITALIAN CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• PRIVATE BALCONY
• OVERSIZED BATHROOM

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association fee includes amenities, trash, and water; Community amenities: clubhouse, fitness center, playground, pool, elevators

Exterior

• Parking: Assigned parking, one covered space; One-car carport
• Security: Secured lobby; Security/high-impact doors
• Utilities: Water included in association fee; Electric service (electric heating and cooling); Sewer and trash service included in association fee
• Home design: Condominium in a high-rise building; 37 total stories; Entry on level 20
• Construction: Block construction; New construction
• Exterior features: Heated pool; Security/high-impact doors; Lobby secured

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Trash compactor
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Unfurnished; Bedroom on main level; Walk-in closet(s); Elevator access
• 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 $440k.

Deal economics

• At list price, monthly cash flow is $-14 ($-173/yr) — negative.
• To cash-flow at today's rent, offer at most $437k (0.6% below list).
• Meets the 1% rule at list price ($5k rent vs $440k).
• Recommended offer: $387k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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 flat; 869 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,841/mo this rent would consume 53% of the median local household income ($109k/yr) (locally 2260% 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 (-2.5%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 432 days — a 12% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask is 15339% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $387,200 (12.0% 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. It's been on market 432 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.10% ✓
• Cap rate: 6.25%
• Cash-on-cash: -0.14%
• DSCR: 0.99
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.52% appreciation · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.40×
• Total profit: $-73,637
• Equity at exit: $74,950

10-year hold

• IRR: -13.7%
• Equity multiple: 0.21×
• Total profit: $-97,613
• Equity at exit: $54,290

Cash invested: $123,200 (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 33132

• Home prices YoY: -0.8%
• Rents YoY: 0.7%
• Active inventory: 869
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $4,841 medium
• Mortgage (P&I): −$2,307
• Tax from tax record: −$563 /mo · $6,760/yr
• Insurance: −$183
• HOA: −$785
• Vacancy / Maint / Mgmt: −$1,017
• Net cashflow: $-14

Break-even live

Break-even rent $4,860

Max offer price $437,452

Occupancy floor 95%

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: $110,000
• Closing costs: $13,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$8,110	$6.44	2d	13	0.96mi
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$3,506	$1.32	2d	19	1.32mi

HOA detail condo

• Monthly dues: $785 · $9,420/yr
• Likely covers: poolgymdoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $440,000 Active 432 DOM
2. 2026-06-17
   days on market $440,000 Active 431 DOM
3. 2026-06-16
   days on market $440,000 Active 430 DOM
4. 2026-06-15
   days on market $440,000 Active 429 DOM
5. 2026-06-13
   days on market $440,000 Active 427 DOM
6. 2026-06-09
   days on market $440,000 Active 423 DOM
7. 2026-06-08
   days on market $440,000 Active 422 DOM
8. 2026-06-08
   days on market $440,000 Active 421 DOM
9. 2026-06-04
   days on market $440,000 Active 418 DOM
10. 2026-06-03
    days on market $440,000 Active 417 DOM
11. 2026-06-02
    days on market $440,000 Active 416 DOM
12. 2026-06-01
    days on market $440,000 Active 415 DOM
13. 2026-05-31
    days on market $440,000 Active 414 DOM
14. 2025-09-30
    historical $2,800
15. 2025-08-28
    price $2,800
16. 2025-07-08
    listed $2,850
17. 2025-06-19
    price $440,000
18. 2025-04-08
    listed $460,000 Active
19. 2023-07-17
    historical $2,550
20. 2023-07-11
    price $2,550
21. 2023-06-01
    historical
22. 2023-05-22
    listed $420,000 Active

ⓘ 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: $6,760 · $563/mo
• Projected year-2 tax: $6,760 · $563/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) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,096
• − Mortgage interest: −$24,647
• − Property taxes: −$6,760
• − Insurance: −$2,200
• − Repairs & maintenance: −$4,648
• − Management: −$4,648
• − HOA: −$9,420
• − Depreciation: −$12,800
• Taxable loss: −$7,026
• Est. tax savings @ 24.0%: +$1,686
• After-tax cash flow: $1,513/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): 20,253
• Household income: $109,109
• Rent vs Own: 74.3% rent · 25.7% own
• Severe rent burden: 2260.0

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 53% Two or more races 39% White 29% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 9% Dominican 2% Salvadoran 1%
• Common ancestry: Estonian 2% Scotch-Irish 2% Romanian 1%
• Foreign-born: 50% · Canada, Jamaica, Dominican Republic
• Languages at home: 35% English-only · Spanish 49% Other Indo-European 6% Other Asian/Pacific 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: ▼ -2.52%
• Current HPI: 294.3744
• Rent YoY: ▲ 0.74%
• 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

-99.3% since first listed

9 events — show timeline

• 2025-09-30 Rental Removed $2,800 MARMLS
• 2025-08-28 Price Changed $2,800 MARMLS
• 2025-07-08 Listed for Rent $2,850 MARMLS
• 2025-06-19 Price Changed $440,000 MARMLS
• 2025-04-08 Listed $460,000 MARMLS
• 2023-07-17 Rental Removed $2,550 MARMLS
• 2023-07-11 Price Changed $2,550 MARMLS
• 2023-06-01 Listing Removed — MARMLS
• 2023-05-22 Listed $420,000 MARMLS

Property tax history

+3.0%/yr

Latest (2025): $6,760 · -8.4% YoY. Source: county tax records.