1600 NE 1st Ave #3315 · Miami, FL 33132

$419,000

1 bd · 1.0 ba · 850 sqft · Condo public records · 144 Days on market

Built 2018 $878/mo HOA · 18% of rent ↓ 15% since listing

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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 +13.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +4.2/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• Appreciation +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

High floor 1 bed 1.5 baths with a den 910 SQFT in the A & E District. Incredible sunset views from a huge balcony, great location, easy access on/off major highways. 30,000 square feet of amenities including Sunrise Pool, Sunset Pool, Jacuzzi, Eco-Friendly Gardens, Sun Deck, 3,000 sqft state of the art gym, Spa, Sauna & Treatment Room, Indoor/Outdoor Yoga Garden, Racquetball Court, Theater, Social Room, Children's Playroom & Lab, Indoor/Outdoor 24/7 security, concierge, management on site, self parking, valet on site.

Key facts

• European cabinetry
• Quartz countertops
• Two parking spaces

Tags

• PANORAMIC CITY VIEWS
• OVERSIZED BALCONY
• EUROPEAN CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• TWO PARKING SPACES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $419k.

Deal economics

• At list price, monthly cash flow is $-2 ($-27/yr) — negative.
• To cash-flow at today's rent, offer at most $419k (0.1% below list).
• Meets the 1% rule at list price ($5k rent vs $419k).
• Recommended offer: $369k (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 144 days — a 12% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $40k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $368,720 (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 144 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: 1.16% ✓
• Cap rate: 6.29%
• Cash-on-cash: -0.02%
• DSCR: 1.00
• GRM: 7.2

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: -16.4%
• Equity multiple: 0.41×
• Total profit: $-69,796
• Equity at exit: $71,373

10-year hold

• IRR: -13.9%
• Equity multiple: 0.20×
• Total profit: $-93,301
• Equity at exit: $51,699

Cash invested: $117,320 (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: 7.2×

Monthly cashflow live

• Estimated rent: $4,841 medium
• Mortgage (P&I): −$2,197
• Tax from tax record: −$577 /mo · $6,925/yr
• Insurance: −$175
• HOA: −$878
• Vacancy / Maint / Mgmt: −$1,017
• Net cashflow: $-2

Break-even live

Break-even rent $4,844

Max offer price $418,604

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: $104,750
• Closing costs: $12,570
• 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: $878 · $10,536/yr
• Likely covers: poolgymdoormansecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-04-17
   status Pending
2. 2026-03-20
   historical Active Under Contract
3. 2026-03-18
   status Active
4. 2026-03-13
   status Pending
5. 2025-11-22
   price $419,000
6. 2025-11-11
   listed $459,000 Active
7. 2022-04-01
   soldstatus $480,000 Closed 539-char remark

   Show marketing remark (539 chars)

   High floor 1 bed 1.5 baths with a den 910 SQFT in the A & E District. Incredible sunset views from a huge balcony, great location, easy access on/off major highways. 30,000 square feet of amenities including Sunrise Pool, Sunset Pool, Jacuzzi, Eco-Friendly Gardens, Sun Deck, 3,000 sqft state of the art gym, Spa, Sauna & Treatment Room, Indoor/Outdoor Yoga Garden, Racquetball Court, Theater, Social Room, Children's Playroom & Lab, Indoor/Outdoor 24/7 security, concierge, management on site, self parking, valet on site.

8. 2022-03-02
   status Pending 539-char remark

   Show marketing remark (539 chars)

   High floor 1 bed 1.5 baths with a den 910 SQFT in the A & E District. Incredible sunset views from a huge balcony, great location, easy access on/off major highways. 30,000 square feet of amenities including Sunrise Pool, Sunset Pool, Jacuzzi, Eco-Friendly Gardens, Sun Deck, 3,000 sqft state of the art gym, Spa, Sauna & Treatment Room, Indoor/Outdoor Yoga Garden, Racquetball Court, Theater, Social Room, Children's Playroom & Lab, Indoor/Outdoor 24/7 security, concierge, management on site, self parking, valet on site.

9. 2022-02-28
   listed $491,000 Active 539-char remark

   Show marketing remark (539 chars)

   High floor 1 bed 1.5 baths with a den 910 SQFT in the A & E District. Incredible sunset views from a huge balcony, great location, easy access on/off major highways. 30,000 square feet of amenities including Sunrise Pool, Sunset Pool, Jacuzzi, Eco-Friendly Gardens, Sun Deck, 3,000 sqft state of the art gym, Spa, Sauna & Treatment Room, Indoor/Outdoor Yoga Garden, Racquetball Court, Theater, Social Room, Children's Playroom & Lab, Indoor/Outdoor 24/7 security, concierge, management on site, self parking, valet on site.

ⓘ 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: $6,925 · $577/mo
• Projected year-2 tax: $6,925 · $577/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: −$23,471
• − Property taxes: −$6,925
• − Insurance: −$2,095
• − Repairs & maintenance: −$4,648
• − Management: −$4,648
• − HOA: −$10,536
• − Depreciation: −$12,189
• Taxable loss: −$6,414
• Est. tax savings @ 24.0%: +$1,539
• 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

-14.7% since first listed

9 events — show timeline

• 2026-04-17 Pending — MARMLS
• 2026-03-20 Contingent — MARMLS
• 2026-03-18 Relisted — MARMLS
• 2026-03-13 Pending — MARMLS
• 2025-11-22 Price Changed $419,000 MARMLS
• 2025-11-11 Listed $459,000 MARMLS
• 2022-04-01 Sold (MLS) $480,000 MARMLS
• 2022-03-02 Pending — MARMLS
• 2022-02-28 Listed $491,000 MARMLS

Property tax history

+1.0%/yr

Latest (2025): $6,925 · -9.4% YoY. Source: county tax records.