1351 NE Miami Gardens Dr Unit 1601E · Ojus, FL 33179

$189,900

1 bd · 1.0 ba · 801 sqft · Condo public records · 305 Days on market

Built 1969 $417/mo HOA · 13% 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 +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience luxury living in this stunning 1-bedroom, 1-bathroom 16th-floor condo in Miami. Enjoy stunning canal views from your balcony, relax by the community pool, and entertain in style with tile countertops, white appliances, and ceramic flooring throughout. Live the Miami dream in this beautiful condo. Prime location near I95, the Turnpike, Biscayne Blvd, and Dixie Highway. Close to beautiful parks, restaurants, medical offices, and convenient shopping. Minutes from Aventura Mall. 16th floor just one floor up from the Penthouse.

Key facts

• Ceramic flooring
• Close to parks
• Community pool

Tags

• CANAL VIEWS
• COMMUNITY POOL
• TILE COUNTERTOPS
• CERAMIC FLOORING
• PRIME LOCATION
• CLOSE TO PARKS

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee of $417; Association covers management, common areas, hot water, insurance, laundry, grounds and structure maintenance, and pest control; Community amenities include clubhouse, trash service, and elevators

Exterior

• Parking: One assigned parking space
• Security: Key card entry; Lobby secured; Phone entry
• Utilities: Central electric heating and cooling; Hot water provided
• Home design: Attached property; 17-story building; Entry on level 16; Newly updated/renovated; Block construction
• Construction: Block construction; Newly updated/renovated
• Exterior features: Balcony (open); Security/high-impact doors; Has a view

Interior

• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Drapes; Bedroom on main level; First-floor entry; Main living area on entry level
• Laundry & utility: Hot water included in association

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $776 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 8.7% in Ojus — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 83/100 on livability (#58 in FL, #1,031 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D+, amenities 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; 572 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,172/mo this rent would consume 58% of the median local household income ($65k/yr) (locally 3123% 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 $6k 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 + 0.2% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 305 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $25k; list at $190k implies a 660% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 305 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 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.67% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.52%
• DSCR: 1.78
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.22% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.19×
• Total profit: $10,338
• Equity at exit: $28,315

10-year hold

• IRR: 11.4%
• Equity multiple: 1.76×
• Total profit: $40,393
• Equity at exit: $16,419

Cash invested: $53,172 (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 33179

• Rents YoY: 0.2%
• Active inventory: 572
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,172 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$417
• Vacancy / Maint / Mgmt: −$666
• Net cashflow: $776

Break-even live

Break-even rent $2,189

Max offer price $189,900

Occupancy floor 71%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $189,900 Active 305 DOM
2. 2026-06-17
   days on market $189,900 Active 304 DOM
3. 2026-06-16
   days on market $189,900 Active 303 DOM
4. 2026-06-15
   days on market $189,900 Active 302 DOM
5. 2026-06-13
   days on market $189,900 Active 300 DOM
6. 2026-06-09
   days on market $189,900 Active 296 DOM
7. 2026-06-08
   days on market $189,900 Active 295 DOM
8. 2026-06-08
   days on market $189,900 Active 294 DOM
9. 2026-06-04
   days on market $189,900 Active 291 DOM
10. 2026-06-03
    days on market $189,900 Active 290 DOM
11. 2026-06-02
    days on market $189,900 Active 289 DOM
12. 2026-06-01
    days on market $189,900 Active 288 DOM
13. 2026-05-31
    days on market $189,900 Active 287 DOM
14. 2025-08-10
    listed $189,900 Active
15. 2025-07-25
    historical
16. 2024-07-26
    listed $189,900 Active
17. 1998-10-27
    soldstatus $25,000
18. 1989-04-01
    soldstatus $25,000
19. 1989-04-01
    soldstatus $25,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 24 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: $38,059
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$3,045
• − Management: −$3,045
• − HOA: −$5,004
• − Depreciation: −$5,524
• Taxable income: $7,006
• Est. tax owed @ 24.0%: −$1,681
• After-tax cash flow: $7,633/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 — Ojus

• Score: 83/100
• State rank: #58
• US rank: #1031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ojus, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 51,591
• Household income: $65,211
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 3123.0

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: Black 39% Hispanic / Latino 38% Two or more races 23% White 19% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 6% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 13% Scotch-Irish 2% Romanian 2%
• Foreign-born: 48% · Canada, Jamaica, Dominican Republic
• Languages at home: 42% English-only · Spanish 37% French/Haitian/Cajun 13% 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: ▼ -608.34%
• Current HPI: 328.1733
• Rent YoY: ▲ 0.22%
• 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

+659.6% since first listed

6 events — show timeline

• 2025-08-10 Listed $189,900 MARMLS
• 2025-07-25 Listing Removed — MARMLS
• 2024-07-26 Listed $189,900 MARMLS
• 1998-10-27 Sold (Public Records) $25,000 Public Records
• 1989-04-01 Sold (Public Records) $25,000 Public Records
• 1989-04-01 Sold (Public Records) $25,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $125 · +14.0% YoY. Source: county tax records.