1975 NE 135th St Unit 3C · North Miami, FL 33181

$162,000

1 bd · 1.0 ba · 564 sqft · Condo public records · 132 Days on market

Built 1972 $300/mo HOA · 10% of rent

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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 +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely 1/1 unit with tiled floors, secured lobby, community pool, near public transportation and shops. Bank of America, N. A. employees and employees' household members and HTS business partners of the Bank are prohibited from purchasing this property, wh ether directly or indirectly.

Key facts

• Open layout
• Unbeatable location
• $300 HOA

Tags

• OPEN LAYOUT
• STAINLESS STEEL APPLIANCES
• UNBEATABLE LOCATION

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $300; Association covers laundry and grounds maintenance; Association amenities include laundry, pool, and elevator(s)

Exterior

• Parking: Assigned covered parking with garage door opener (1 space); One covered garage space
• Security: Elevator secured; Smoke detector(s); Complex fenced
• Utilities: Electric power; Central water heater (electric); Association-maintained laundry
• Home design: Attached property; 3-story building; Third-floor entry
• Construction: Block construction; Effective year built
• Exterior features: Deck; Barbecue; Association pool; Complex fenced

Interior

• Kitchen: Dishwasher; Electric range; Self-cleaning oven; Microwave; Refrigerator; Electric water heater
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Elevator; Living/dining room; Bedroom on main level; Third floor entry; Smoke detector(s)
• Laundry & utility: Common area laundry; Utility room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $162k.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $162k).
• Recommended offer: $143k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 4.1% in North 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, employment D.
• 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 (-0.1%/yr); 335 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $2,944/mo this rent would consume 56% of the median local household income ($63k/yr) (locally 1914% 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 $5k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask is 11900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $52k; list at $162k implies a 209% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 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 1972 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.82% ✓
• Cap rate: 12.82%
• Cash-on-cash: 23.31%
• DSCR: 2.04
• GRM: 4.6

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: 10.1%
• Equity multiple: 1.38×
• Total profit: $17,295
• Equity at exit: $24,155

10-year hold

• IRR: 16.0%
• Equity multiple: 2.10×
• Total profit: $49,687
• Equity at exit: $14,007

Cash invested: $45,360 (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 33181

• Rents YoY: -0.1%
• Active inventory: 335
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,944 medium
• Mortgage (P&I): −$850
• Tax from tax record: −$228 /mo · $2,735/yr
• Insurance: −$68
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$300
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $815

Break-even live

Break-even rent $1,913

Max offer price $162,000

Occupancy floor 67%

Sensitivity live

Price	-10% $906	-5% $861	+0% $815	+5% $769	+10% $723
Rent	-10% $582	-5% $698	+0% $815	+5% $931	+10% $1,047
Rate	-1.0pp $896	-0.5pp $856	base $815	+0.5pp $773	+1.0pp $730

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: $40,500
• Closing costs: $4,860
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $162,000 Active 132 DOM
2. 2026-06-17
   days on market $162,000 Active 131 DOM
3. 2026-06-16
   days on market $162,000 Active 130 DOM
4. 2026-06-15
   days on market $162,000 Active 129 DOM
5. 2026-06-13
   days on market $162,000 Active 127 DOM
6. 2026-06-09
   days on market $162,000 Active 123 DOM
7. 2026-06-08
   days on market $162,000 Active 122 DOM
8. 2026-06-07
   days on market $162,000 Active 121 DOM
9. 2026-06-04
   days on market $162,000 Active 118 DOM
10. 2026-06-03
    days on market $162,000 Active 117 DOM
11. 2026-06-02
    days on market $162,000 Active 116 DOM
12. 2026-06-01
    days on market $162,000 Active 115 DOM
13. 2026-05-31
    days on market $162,000 Active 114 DOM
14. 2026-05-21
    historical $1,350
15. 2026-05-21
    status Active
16. 2026-05-21
    historical Active Under Contract
17. 2026-05-02
    listed $1,350
18. 2026-05-01
    price $162,000
19. 2026-02-06
    listed $168,000 Active
20. 2024-12-12
    status Pending
21. 2024-10-29
    historical Active Under Contract
22. 2024-10-28
    historical
23. 2024-10-17
    status Active
24. 2024-09-20
    status Pending
25. 2024-06-07
    listed $185,000 Active
26. 2012-06-05
    soldstatus $52,500 286-char remark

    Show marketing remark (286 chars)

    Lovely 1/1 unit with tiled floors, secured lobby, community pool, near public transportation and shops. Bank of America, N. A. employees and employees' household members and HTS business partners of the Bank are prohibited from purchasing this property, wh ether directly or indirectly.

27. 2006-09-01
    soldstatus $140,000
28. 1980-09-01
    soldstatus $35,700

ⓘ 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: $2,735 · $228/mo
• Projected year-2 tax: $2,735 · $228/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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 27 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: $35,334
• − Mortgage interest: −$9,075
• − Property taxes: −$2,735
• − Insurance: −$1,607
• − Repairs & maintenance: −$2,827
• − Management: −$2,827
• − HOA: −$3,600
• − Depreciation: −$4,713
• Taxable income: $7,951
• Est. tax owed @ 24.0%: −$1,908
• After-tax cash flow: $7,868/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 — North Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,848
• Household income: $63,275
• Rent vs Own: 62.4% rent · 37.6% own
• Severe rent burden: 1914.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 44% Black 29% Two or more races 23% White 22% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 8% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 18% Lithuanian 3% Italian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 28% English-only · Spanish 44% French/Haitian/Cajun 18% Other Indo-European 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: ▼ -334.57%
• Current HPI: 341.3285
• Rent YoY: ▼ -0.11%
• 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

-96.2% since first listed

15 events — show timeline

• 2026-05-21 Rental Removed $1,350 MARMLS
• 2026-05-21 Relisted — MARMLS
• 2026-05-21 Contingent — MARMLS
• 2026-05-02 Listed for Rent $1,350 MARMLS
• 2026-05-01 Price Changed $162,000 MARMLS
• 2026-02-06 Listed $168,000 MARMLS
• 2024-12-12 Pending — MARMLS
• 2024-10-29 Contingent — MARMLS
• 2024-10-28 Listing Removed — MARMLS
• 2024-10-17 Relisted — MARMLS
• 2024-09-20 Pending — MARMLS
• 2024-06-07 Listed $185,000 MARMLS
• 2012-06-05 Sold (MLS) $52,500 MARMLS
• 2006-09-01 Sold (Public Records) $140,000 Public Records
• 1980-09-01 Sold (Public Records) $35,700 Public Records

Property tax history

+9.1%/yr

Latest (2025): $2,735 · +5.2% YoY. Source: county tax records.