13500 NE 3rd Ct #412 · North Miami, FL 33161

$130,000

1 bd · 2.0 ba · 691 sqft · Condo public records · 54 Days on market

Built 1975 $351/mo HOA · 11% 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
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 1/1.5 condo in amazing North Miami location!!

Key facts

• $351 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: No land lease; Pets not allowed
• HOA & community: Has association; Monthly HOA fee of $351; Association amenities include pool and maintenance; HOA fee includes sewer, trash, and water

Exterior

• Parking: 1 parking space; No carport
• Security: Security fence
• Utilities: Public water; Public sewer; Sewer connected; Water available
• Home design: Condominium; 4 total stories; Faces south; Resale condition
• Construction: Other construction materials; Other roof
• Exterior features: Fenced; Waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Has heating (type: Other); Central air conditioning (electric)
• Interior features: Electric range; Refrigerator; Unfurnished; Ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $947 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.

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: 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.
• Zoned schools: Linda Lentin K-8 Center (math 27% / reading 36%, grade F, #1,841 of 2,144 statewide, top 86%, 674 students, 76% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL).
• Zoned-school proficiency averages 25% at this address vs 50% district-wide (-24 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $45k; list at $130k implies a 189% gain — meaningful room to come down on a strong offer.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 2.56% ✓
• Cap rate: 18.97%
• Cash-on-cash: 45.27%
• DSCR: 3.01
• GRM: 3.3

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: 21.3%
• Equity multiple: 1.82×
• Total profit: $30,017
• Equity at exit: $19,383

10-year hold

• IRR: 26.5%
• Equity multiple: 2.88×
• Total profit: $68,297
• Equity at exit: $11,240

Cash invested: $36,400 (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 33161

• Rents YoY: -0.7%
• Active inventory: 338
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $3,322 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$164 /mo · $1,969/yr
• Insurance: −$54
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$351
• Vacancy / Maint / Mgmt: −$698
• Net cashflow: $947

Break-even live

Break-even rent $2,123

Max offer price $130,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,020	-5% $983	+0% $947	+5% $910	+10% $873
Rent	-10% $684	-5% $815	+0% $947	+5% $1,078	+10% $1,209
Rate	-1.0pp $1,012	-0.5pp $980	base $947	+0.5pp $913	+1.0pp $879

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $351 · $4,212/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $130,000 Active 54 DOM
2. 2026-06-17
   days on market $130,000 Active 53 DOM
3. 2026-06-16
   days on market $130,000 Active 52 DOM
4. 2026-06-15
   days on market $130,000 Active 51 DOM
5. 2026-06-13
   days on market $130,000 Active 49 DOM
6. 2026-06-09
   days on market $130,000 Active 45 DOM
7. 2026-06-08
   days on market $130,000 Active 44 DOM
8. 2026-06-07
   days on market $130,000 Active 43 DOM
9. 2026-06-04
   days on market $130,000 Active 40 DOM
10. 2026-06-03
    days on market $130,000 Active 39 DOM
11. 2026-06-02
    days on market $130,000 Active 38 DOM
12. 2026-06-01
    days on market $130,000 Active 37 DOM
13. 2026-05-31
    days on market $130,000 Active 36 DOM
14. 2026-04-25
    listed $130,000 Active
15. 2026-03-26
    historical
16. 2025-07-03
    listed $130,000 Active
17. 2022-03-14
    historical
18. 2022-02-21
    price $120,000
19. 2022-02-09
    listed $125,000 Active
20. 2019-05-31
    historical
21. 2019-02-18
    listed $68,000 Active
22. 2011-06-21
    soldstatus $45,000
23. 2005-08-31
    soldstatus $91,000
24. 2004-11-23
    soldstatus $50,000
25. 1996-11-01
    soldstatus $29,000
26. 1987-12-01
    soldstatus $28,000

ⓘ 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: $1,969 · $164/mo
• Projected year-2 tax: $1,969 · $164/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 6/10 Major FEMA zone AE · 51% 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: $39,859
• − Mortgage interest: −$7,282
• − Property taxes: −$1,969
• − Insurance: −$5,768
• − Repairs & maintenance: −$3,189
• − Management: −$3,189
• − HOA: −$4,212
• − Depreciation: −$3,782
• Taxable income: $10,469
• Est. tax owed @ 24.0%: −$2,513
• After-tax cash flow: $8,846/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): 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

+364.3% since first listed

13 events — show timeline

• 2026-04-25 Listed $130,000 Beaches MLS
• 2026-03-26 Listing Removed — Beaches MLS
• 2025-07-03 Listed $130,000 Beaches MLS
• 2022-03-14 Listing Removed — MARMLS
• 2022-02-21 Price Changed $120,000 MARMLS
• 2022-02-09 Listed $125,000 MARMLS
• 2019-05-31 Listing Removed — MARMLS
• 2019-02-18 Listed $68,000 MARMLS
• 2011-06-21 Sold (MLS) $45,000 MARMLS
• 2005-08-31 Sold (Public Records) $91,000 Public Records
• 2004-11-23 Sold (Public Records) $50,000 Public Records
• 1996-11-01 Sold (Public Records) $29,000 Public Records
• 1987-12-01 Sold (Public Records) $28,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,969 · +6.0% YoY. Source: county tax records.