1600 NE 1st Ave #3319 · Miami, FL 33132

$499,999

1 bd · 1.0 ba · 752 sqft · Condo public records · 123 Days on market

Built 2018 $750/mo HOA · 19% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.6/30.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Appreciation +3.7/10.0
• 1% rule +3.0/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +0.1/10.0

Listing remarks MLS

Experience the epitome of luxury living in this stunning 1/1 unit at the prestigious Canvas Condominium, located in the heart of Miami. Enjoy breathtaking views from your private residence, perfectly situated near iconic landmarks like the Adrienne Arsht Center for the Performing Arts and the Miami Arena. Residents of Canvas enjoy access to an incredible 30,000 square feet of amenities, including sunrise and sunset pools, Jacuzzi, eco-friendly gardens, yoga room, racquetball court, and more. With 24/7 security, you can rest assured that your safety and security are top priority. This pet-friendly building welcomes your furry friends, so your entire family can enjoy the luxury lifestyle. Tenant Occupied till March 2026.

Key facts

• Lush green spaces
• Yoga studio
• Spectacular views

Tags

• SPECTACULAR VIEWS
• RESORT-STYLE AMENITIES
• SUNRISE AND SUNSET POOLS
• JACUZZI
• LUSH GREEN SPACES
• YOGA STUDIO

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with restrictions or conditions
• HOA & community: Association fee approximately $750 monthly

Exterior

• Parking: Carport (1 space); One covered parking space
• Security: Doorman; Secured elevator; Secured garage/parking
• Home design: Condo/Apartment in a multi-story building; 38 total stories; Entry on level 33; Effective year built
• Construction: Block construction
• Exterior features: Security/high impact doors; Has a view; Property is attached

Interior

• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Interior features: Ceramic tile flooring; Other interior features

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $500k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $317k (36.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $400k (20.0% below list).
• Recommended offer: $317k (36.5% below list) — sets the bar for cash-flow.
• Cap rate 3.8% 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.
• Zoned schools: Phyllis Wheatley Elementary School (math 17% / reading 17%, grade F, #2,121 of 2,144 statewide, top 99%, 189 students, 88% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL).
• Zoned-school proficiency averages 18% at this address vs 50% district-wide (-31 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 flat; 882 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 44% of the median local income ($109k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.5%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 123 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask is 16029% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $400k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $317,326 (36.5% 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 123 days. Have you received any prior offers? Is the seller open to a 37% 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: 0.80% ✗
• Cap rate: 3.81%
• Cash-on-cash: -8.86%
• DSCR: 0.61
• GRM: 10.4

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: -30.3%
• Equity multiple: -0.04×
• Total profit: $-145,278
• Equity at exit: $85,170

10-year hold

• IRR: -37.5%
• Equity multiple: -0.68×
• Total profit: $-235,427
• Equity at exit: $61,693

Cash invested: $140,000 (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 33132

• Home prices YoY: -0.8%
• Rents YoY: 0.7%
• Active inventory: 882
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $3,998 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$612 /mo · $7,342/yr
• Insurance: −$208
• HOA: −$750
• Vacancy / Maint / Mgmt: −$839
• Net cashflow: $-1,034

Break-even live

Break-even rent $5,307

Max offer price $317,326

Occupancy floor —

Sensitivity live

Price	-10% $-751	-5% $-893	+0% $-1,034	+5% $-1,176	+10% $-1,317
Rent	-10% $-1,350	-5% $-1,192	+0% $-1,034	+5% $-876	+10% $-718
Rate	-1.0pp $-782	-0.5pp $-907	base $-1,034	+0.5pp $-1,164	+1.0pp $-1,295

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 NE 1st Ave Unit 1227496P Miami, FL	3.0	1.0–3.0	904	$8,354	$9.24	1d	4	0.72mi
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$8,110	$6.44	4d	13	0.96mi
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$3,780	$1.42	0d	19	1.32mi

HOA detail condo

• Monthly dues: $750 · $9,000/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $499,999 Active 123 DOM
2. 2026-06-18
   days on market $499,999 Active 120 DOM
3. 2026-06-17
   days on market $499,999 Active 119 DOM
4. 2026-06-16
   days on market $499,999 Active 118 DOM
5. 2026-06-15
   days on market $499,999 Active 117 DOM
6. 2026-06-13
   days on market $499,999 Active 115 DOM
7. 2026-06-09
   days on market $499,999 Active 111 DOM
8. 2026-06-08
   days on market $499,999 Active 110 DOM
9. 2026-06-07
   days on market $499,999 Active 109 DOM
10. 2026-06-04
    days on market $499,999 Active 106 DOM
11. 2026-06-03
    days on market $499,999 Active 105 DOM
12. 2026-06-02
    days on market $499,999 Active 104 DOM
13. 2026-06-01
    days on market $499,999 Active 103 DOM
14. 2026-05-31
    days on market $499,999 Active 102 DOM
15. 2026-05-07
    price $499,999
16. 2026-03-14
    historical $3,100
17. 2026-03-12
    listed $3,100
18. 2026-03-05
    historical $3,100
19. 2026-03-04
    listed $3,100
20. 2026-03-04
    historical $3,100
21. 2026-03-02
    soldstatus $400,000
22. 2026-02-26
    historical $3,100
23. 2026-02-26
    listed $3,100
24. 2026-02-19
    listed $3,100
25. 2026-02-18
    status Pending 728-char remark

    Show marketing remark (728 chars)

    Experience the epitome of luxury living in this stunning 1/1 unit at the prestigious Canvas Condominium, located in the heart of Miami. Enjoy breathtaking views from your private residence, perfectly situated near iconic landmarks like the Adrienne Arsht Center for the Performing Arts and the Miami Arena. Residents of Canvas enjoy access to an incredible 30,000 square feet of amenities, including sunrise and sunset pools, Jacuzzi, eco-friendly gardens, yoga room, racquetball court, and more. With 24/7 security, you can rest assured that your safety and security are top priority. This pet-friendly building welcomes your furry friends, so your entire family can enjoy the luxury lifestyle. Tenant Occupied till March 2026.

26. 2026-02-18
    soldstatus $400,000 Closed 728-char remark

    Show marketing remark (728 chars)

    Experience the epitome of luxury living in this stunning 1/1 unit at the prestigious Canvas Condominium, located in the heart of Miami. Enjoy breathtaking views from your private residence, perfectly situated near iconic landmarks like the Adrienne Arsht Center for the Performing Arts and the Miami Arena. Residents of Canvas enjoy access to an incredible 30,000 square feet of amenities, including sunrise and sunset pools, Jacuzzi, eco-friendly gardens, yoga room, racquetball court, and more. With 24/7 security, you can rest assured that your safety and security are top priority. This pet-friendly building welcomes your furry friends, so your entire family can enjoy the luxury lifestyle. Tenant Occupied till March 2026.

27. 2026-02-18
    listed $500,000 Active

    Show marketing remark (728 chars)

    Experience the epitome of luxury living in this stunning 1/1 unit at the prestigious Canvas Condominium, located in the heart of Miami. Enjoy breathtaking views from your private residence, perfectly situated near iconic landmarks like the Adrienne Arsht Center for the Performing Arts and the Miami Arena. Residents of Canvas enjoy access to an incredible 30,000 square feet of amenities, including sunrise and sunset pools, Jacuzzi, eco-friendly gardens, yoga room, racquetball court, and more. With 24/7 security, you can rest assured that your safety and security are top priority. This pet-friendly building welcomes your furry friends, so your entire family can enjoy the luxury lifestyle. Tenant Occupied till March 2026.

28. 2025-12-05
    price $420,000 728-char remark

    Show marketing remark (728 chars)

    Experience the epitome of luxury living in this stunning 1/1 unit at the prestigious Canvas Condominium, located in the heart of Miami. Enjoy breathtaking views from your private residence, perfectly situated near iconic landmarks like the Adrienne Arsht Center for the Performing Arts and the Miami Arena. Residents of Canvas enjoy access to an incredible 30,000 square feet of amenities, including sunrise and sunset pools, Jacuzzi, eco-friendly gardens, yoga room, racquetball court, and more. With 24/7 security, you can rest assured that your safety and security are top priority. This pet-friendly building welcomes your furry friends, so your entire family can enjoy the luxury lifestyle. Tenant Occupied till March 2026.

29. 2025-06-05
    listed $440,000 Active 728-char remark

    Show marketing remark (728 chars)

    Experience the epitome of luxury living in this stunning 1/1 unit at the prestigious Canvas Condominium, located in the heart of Miami. Enjoy breathtaking views from your private residence, perfectly situated near iconic landmarks like the Adrienne Arsht Center for the Performing Arts and the Miami Arena. Residents of Canvas enjoy access to an incredible 30,000 square feet of amenities, including sunrise and sunset pools, Jacuzzi, eco-friendly gardens, yoga room, racquetball court, and more. With 24/7 security, you can rest assured that your safety and security are top priority. This pet-friendly building welcomes your furry friends, so your entire family can enjoy the luxury lifestyle. Tenant Occupied till March 2026.

ⓘ 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: $7,342 · $612/mo
• Projected year-2 tax: $7,342 · $612/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: $47,971
• − Mortgage interest: −$28,008
• − Property taxes: −$7,342
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,838
• − Management: −$3,838
• − HOA: −$9,000
• − Depreciation: −$14,545
• Taxable loss: −$21,099
• Est. tax savings @ 24.0%: +$5,064
• After-tax cash flow: $-7,345/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

+13.6% since first listed

15 events — show timeline

• 2026-05-07 Price Changed $499,999 MARMLS
• 2026-03-14 Rental Removed $3,100 MARMLS
• 2026-03-12 Listed for Rent $3,100 MARMLS
• 2026-03-05 Rental Removed $3,100 MARMLS
• 2026-03-04 Listed for Rent $3,100 MARMLS
• 2026-03-04 Rental Removed $3,100 APPFOLIO
• 2026-03-02 Sold (Public Records) $400,000 Public Records
• 2026-02-26 Rental Removed $3,100 MARMLS
• 2026-02-26 Listed for Rent $3,100 APPFOLIO
• 2026-02-19 Listed for Rent $3,100 MARMLS
• 2026-02-18 Pending — MARMLS
• 2026-02-18 Listed $500,000 MARMLS
• 2026-02-18 Sold (MLS) $400,000 MARMLS
• 2025-12-05 Price Changed $420,000 MARMLS
• 2025-06-05 Listed $440,000 MARMLS

Property tax history

+3.0%/yr

Latest (2025): $7,342 · -8.4% YoY. Source: county tax records.