1251 NE 108th St #610 · Miami Shores, FL 33161

$207,300

1 bd · 1.0 ba · 710 sqft · Condo public records · 249 Days on market

Built 1969 $421/mo HOA · 12% of rent ↓ 17% 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 +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

PRICE IMPROVEMENT!! Discover comfort and convenience in this updated 1-bedroom, 1-bathroom condo, ideally located east of US-1. This bright 710 sq. ft. unit is filled with natural light and features easy-to-maintain tile flooring. The modern kitchen is perfect for meals enjoyed while taking in the view from your private balcony. This condo is in a secure, fenced community, meticulously maintained with an on-site association and maintenance team. Amenities include a refreshing pool and fitness center. The location is unbeatable—across from premier shopping with easy access to both Miami and Broward County. This move-in-ready home is perfect for a single or couple seeking a vibrant, low

Key facts

• Fitness center
• Refreshing pool
• Private balcony

Tags

• PRIVATE BALCONY
• SECURE COMMUNITY
• REFRESHING POOL
• FITNESS CENTER
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Financial info: Pets allowed with restrictions/conditions
• HOA & community: Monthly association fee of $421; Association covers amenities, common areas, structure insurance, maintenance, trash, and water; Association amenities include clubhouse, laundry, pool, and elevators

Exterior

• Parking: Assigned parking (one space)
• Security: Complex fenced; Key card entry; Secured lobby
• Utilities: Cable available
• Home design: Condominium in an 8-story building; Entry on level 6; Faces south; Has attached property
• Construction: Block construction
• Exterior features: Balcony (open); Association pool

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Primary bedroom located on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Blinds; Unfurnished; Bedroom on main level; Main-level primary bedroom
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $207k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $207k).
• Recommended offer: $182k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#130 in FL, #1,936 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: crime D, amenities 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 soft (-0.7%/yr); 338 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,410/mo this rent would consume 70% of the median local household income ($58k/yr) (locally 3226% 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 $1k of loan paydown is wiped out by about $6k 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 249 days — a 12% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $43k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 $182,424 (12.0% below list)

Questions for the listing agent

1. It's been on market 249 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's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
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: 1.64% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.37%
• DSCR: 1.77
• GRM: 5.1

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: -8.2%
• Equity multiple: 0.71×
• Total profit: $-16,670
• Equity at exit: $30,909

10-year hold

• IRR: -5.6%
• Equity multiple: 0.71×
• Total profit: $-16,890
• Equity at exit: $17,924

Cash invested: $58,044 (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 33161

• Rents YoY: -0.7%
• Active inventory: 338
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,410 medium
• Mortgage (P&I): −$1,087
• Tax est. 1.5%: −$259 /mo · $3,110/yr
• Insurance: −$86
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$421
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $414

Break-even live

Break-even rent $2,886

Max offer price $207,300

Occupancy floor 83%

Sensitivity live

Price	-10% $557	-5% $485	+0% $414	+5% $342	+10% $270
Rent	-10% $144	-5% $279	+0% $414	+5% $548	+10% $683
Rate	-1.0pp $518	-0.5pp $466	base $414	+0.5pp $360	+1.0pp $305

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: $51,825
• Closing costs: $6,219
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $421 · $5,052/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $207,300 Active 249 DOM
2. 2026-06-17
   days on market $207,300 Active 248 DOM
3. 2026-06-16
   days on market $207,300 Active 247 DOM
4. 2026-06-15
   days on market $207,300 Active 246 DOM
5. 2026-06-13
   days on market $207,300 Active 244 DOM
6. 2026-06-09
   days on market $207,300 Active 240 DOM
7. 2026-06-08
   days on market $207,300 Active 239 DOM
8. 2026-06-08
   days on market $207,300 Active 238 DOM
9. 2026-06-04
   days on market $207,300 Active 235 DOM
10. 2026-06-03
    days on market $207,300 Active 234 DOM
11. 2026-06-02
    days on market $207,300 Active 233 DOM
12. 2026-06-01
    days on market $207,300 Active 232 DOM
13. 2026-05-31
    days on market $207,300 Active 231 DOM
14. 2026-03-17
    status Active
15. 2026-03-17
    price $207,300
16. 2026-02-16
    historical Active Under Contract
17. 2026-01-07
    price $207,500
18. 2025-12-22
    price $219,500
19. 2025-11-18
    price $239,900
20. 2025-10-12
    listed $249,900 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 7/10 Severe FEMA zone AE · 78% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,917
• − Mortgage interest: −$11,612
• − Property taxes: −$3,110
• − Insurance: −$6,155
• − Repairs & maintenance: −$3,273
• − Management: −$3,273
• − HOA: −$5,052
• − Depreciation: −$6,031
• Taxable income: $2,412
• Est. tax owed @ 24.0%: −$579
• After-tax cash flow: $4,384/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 Shores

• Score: 80/100
• State rank: #130
• US rank: #1936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

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 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% 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: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• 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

-17.0% since first listed

7 events — show timeline

• 2026-03-17 Relisted — MARMLS
• 2026-03-17 Price Changed $207,300 MARMLS
• 2026-02-16 Contingent — MARMLS
• 2026-01-07 Price Changed $207,500 MARMLS
• 2025-12-22 Price Changed $219,500 MARMLS
• 2025-11-18 Price Changed $239,900 MARMLS
• 2025-10-12 Listed $249,900 MARMLS

Property tax history

-6.3%/yr

Latest (2025): $22 · +44.3% YoY. Source: county tax records.