12890 NE 8th Ave #302 · North Miami, FL 33161

$150,000

1 bd · 1.0 ba · 714 sqft · Condo public records · 25 Days on market

Built 1971 $338/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
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large 1/1 condo. located on the 3rd floor with balcony overlooking West Dixie Highway. Accessible to public transportation and close to downtown North Miami.

Key facts

• Gated community
• Central location
• New a/c

Tags

• GATED COMMUNITY
• CENTRAL LOCATION
• FRESH INTERIOR PAINT
• NEW A/C
• ELECTRIC STOVE
• REFRIGERATOR

Property features AI

Finance

• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee; Association fee includes common areas, structural maintenance, pool(s), sewer, trash, and water; Community amenities: Pool, Elevator(s)

Exterior

• Parking: Assigned parking; Guest parking; One designated space; On-street parking
• Security: Key card entry
• Utilities: Association pool
• Home design: Attached property; 3 stories; Entry on 3rd floor
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony; Fence; Complex is fenced

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Exterior lighting; Third-floor entry
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $891 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.8% 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 (-0.7%/yr); 338 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,401/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 $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 $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $150k implies a 114% 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 $147,750 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.27% ✓
• Cap rate: 16.83%
• Cash-on-cash: 37.63%
• DSCR: 2.67
• GRM: 3.7

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: 14.4%
• Equity multiple: 1.55×
• Total profit: $22,963
• Equity at exit: $22,365

10-year hold

• IRR: 19.8%
• Equity multiple: 2.35×
• Total profit: $56,617
• Equity at exit: $12,969

Cash invested: $42,000 (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: 3.7×

Monthly cashflow live

• Estimated rent: $3,401 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$182 /mo · $2,190/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$338
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $891

Break-even live

Break-even rent $2,274

Max offer price $150,000

Occupancy floor 69%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $338 · $4,056/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $150,000 Active 25 DOM
2. 2026-06-17
   days on market $150,000 Active 24 DOM
3. 2026-06-16
   days on market $150,000 Active 23 DOM
4. 2026-06-15
   days on market $150,000 Active 22 DOM
5. 2026-06-13
   days on market $150,000 Active 20 DOM
6. 2026-06-09
   days on market $150,000 Active 16 DOM
7. 2026-06-08
   days on market $150,000 Active 15 DOM
8. 2026-06-07
   days on market $150,000 Active 14 DOM
9. 2026-06-04
   days on market $150,000 Active 11 DOM
10. 2026-06-03
    days on market $150,000 Active 10 DOM
11. 2026-06-02
    days on market $150,000 Active 9 DOM
12. 2026-06-01
    days on market $150,000 Active 8 DOM
13. 2026-05-31
    days on market $150,000 Active 7 DOM
14. 2026-05-23
    listed $150,000 Active
15. 2014-03-12
    soldstatus $70,000 Sold 157-char remark

    Show marketing remark (157 chars)

    Large 1/1 condo. located on the 3rd floor with balcony overlooking West Dixie Highway. Accessible to public transportation and close to downtown North Miami.

16. 2014-03-12
    historical 157-char remark

    Show marketing remark (157 chars)

    Large 1/1 condo. located on the 3rd floor with balcony overlooking West Dixie Highway. Accessible to public transportation and close to downtown North Miami.

17. 2013-11-05
    soldstatus $40,000

ⓘ 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: $2,190 · $182/mo
• Projected year-2 tax: $2,190 · $182/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 AE · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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: $40,810
• − Mortgage interest: −$8,402
• − Property taxes: −$2,190
• − Insurance: −$5,868
• − Repairs & maintenance: −$3,265
• − Management: −$3,265
• − HOA: −$4,056
• − Depreciation: −$4,364
• Taxable income: $9,400
• Est. tax owed @ 24.0%: −$2,256
• After-tax cash flow: $8,430/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

+275.0% since first listed

4 events — show timeline

• 2026-05-23 Listed $150,000 MARMLS
• 2014-03-12 Sold (MLS) $70,000 MARMLS
• 2014-03-12 Listing Removed — MARMLS
• 2013-11-05 Sold (Public Records) $40,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $2,190 · +2.2% YoY. Source: county tax records.