2903 Point East Dr Unit K604 · Aventura, FL 33160

$180,000

1 bd · 1.0 ba · 768 sqft · Condo public records · 28 Days on market

Built 1967 $549/mo HOA · 17% 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
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Enjoy living on top of this serene over- 55 community in Aventura. Stroll the peninsula surrounded by nature and waterways, swim in the pool or enjoy club house activities. Maintenance includes: 24 hour guarded gate, water, sewer & trash pick up; expanded cable tv & wifi/internet, pest control. Aventura shuttle for shopping, banking or medical appointments. Freshly painted. One owner resident must be at least 55 years old. No children under the age of 18 may reside here permanently. Leasing only after 18 months. Near beaches, shopping, restaurants, Brightline Train Station, Aventura Mall & Gulfstream Racetrack/Casino.

Key facts

• Views of the lagoon
• 24 hour guarded gate
• Easy transportation

Tags

• VIEWS OF THE LAGOON
• 24 HOUR GUARDED GATE
• EASY TRANSPORTATION

Property features AI

Finance

• Financial info: Pets not allowed; Property is in a senior community
• HOA & community: Association: Point East; Monthly association fee applies; Association amenities include billiard room, elevators, fitness center, laundry, parking, trash chute, courtesy bus, heated pool, library, and maintenance; Association fee covers cable TV, insurance, internet, grounds and structure maintenance, pest control, security, sewer, trash, water, elevator, roof repairs, and pool service

Exterior

• Parking: Assigned parking and guest parking (1 open/assigned space total)
• Security: Security guard; Smoke detectors; Association provides security
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; Resale unit; Faces south; 6-story building; Entry level 1
• Construction: Built with CBS (concrete block) construction; Other-type roof
• Exterior features: Waterfront with no fixed bridge; Entry at ground level

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Concrete; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Entrance foyer; Walk-in closet(s); Blinds on windows
• Laundry & utility: Building laundry (association amenity)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $357 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 2.6% in Aventura — 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 80/100 on livability (#127 in FL, #1,834 nationally) — a professional / high-income tenant draw. Strengths: health & safety A+, amenities A, commute A; Watch: crime D+, 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: Aventura Waterways K-8 Center (math 56% / reading 65%, grade B-, #664 of 2,144 statewide, top 32%, 2,168 students, 32% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Dr. Michael M. Krop Senior High (math 21% / reading 46%, grade F, #400 of 667 statewide, top 61%, 2,235 students, 49% FRL) — zoned schools average 44% FRL vs 64% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 1870 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,221/mo this rent would consume 58% of the median local household income ($67k/yr) (locally 3106% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $948 appreciation (0.5% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.5% appreciation + 0.9% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($177k) 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.

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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,300 (1.5% below list)

Questions for the listing agent

1. Built in 1967 — 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 A-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?
7. Crime grade is D 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.79% ✓
• Cap rate: 11.52%
• Cash-on-cash: 18.65%
• DSCR: 1.83
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.32×
• Total profit: $16,055
• Equity at exit: $57,059

10-year hold

• IRR: 9.1%
• Equity multiple: 1.97×
• Total profit: $48,864
• Equity at exit: $72,539

Cash invested: $50,400 (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 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1870
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,221 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$194 /mo · $2,322/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$549
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $357

Break-even live

Break-even rent $2,770

Max offer price $180,000

Occupancy floor 84%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $549 · $6,588/yr
• Likely covers: watersewertrashinternetcablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $180,000 Active 28 DOM
2. 2026-06-17
   days on market $180,000 Active 27 DOM
3. 2026-06-16
   days on market $180,000 Active 26 DOM
4. 2026-06-15
   days on market $180,000 Active 25 DOM
5. 2026-06-13
   days on market $180,000 Active 23 DOM
6. 2026-06-09
   days on market $180,000 Active 19 DOM
7. 2026-06-08
   days on market $180,000 Active 18 DOM
8. 2026-06-07
   days on market $180,000 Active 17 DOM
9. 2026-06-04
   days on market $180,000 Active 14 DOM
10. 2026-06-03
    days on market $180,000 Active 13 DOM
11. 2026-06-02
    days on market $180,000 Active 12 DOM
12. 2026-06-01
    days on market $180,000 Active 11 DOM
13. 2026-05-31
    days on market $180,000 Active 10 DOM
14. 2026-05-21
    listed $180,000 Active
15. 2024-11-05
    soldstatus $160,000
16. 2024-10-30
    soldstatus $160,000 Closed 643-char remark

    Show marketing remark (643 chars)

    Enjoy living on top of this serene over- 55 community in Aventura. Stroll the peninsula surrounded by nature and waterways, swim in the pool or enjoy club house activities. Maintenance includes: 24 hour guarded gate, water, sewer & trash pick up; expanded cable tv & wifi/internet, pest control. Aventura shuttle for shopping, banking or medical appointments. Freshly painted. One owner resident must be at least 55 years old. No children under the age of 18 may reside here permanently. Leasing only after 18 months. Near beaches, shopping, restaurants, Brightline Train Station, Aventura Mall & Gulfstream Racetrack/Casino.

17. 2024-10-05
    historical Active Under Contract 643-char remark

    Show marketing remark (643 chars)

    Enjoy living on top of this serene over- 55 community in Aventura. Stroll the peninsula surrounded by nature and waterways, swim in the pool or enjoy club house activities. Maintenance includes: 24 hour guarded gate, water, sewer & trash pick up; expanded cable tv & wifi/internet, pest control. Aventura shuttle for shopping, banking or medical appointments. Freshly painted. One owner resident must be at least 55 years old. No children under the age of 18 may reside here permanently. Leasing only after 18 months. Near beaches, shopping, restaurants, Brightline Train Station, Aventura Mall & Gulfstream Racetrack/Casino.

18. 2024-08-26
    listed $170,000 Active 643-char remark

    Show marketing remark (643 chars)

    Enjoy living on top of this serene over- 55 community in Aventura. Stroll the peninsula surrounded by nature and waterways, swim in the pool or enjoy club house activities. Maintenance includes: 24 hour guarded gate, water, sewer & trash pick up; expanded cable tv & wifi/internet, pest control. Aventura shuttle for shopping, banking or medical appointments. Freshly painted. One owner resident must be at least 55 years old. No children under the age of 18 may reside here permanently. Leasing only after 18 months. Near beaches, shopping, restaurants, Brightline Train Station, Aventura Mall & Gulfstream Racetrack/Casino.

19. 2004-04-27
    soldstatus $90,000
20. 2003-12-01
    soldstatus $70,000
21. 1993-08-12
    soldstatus $24,000

ⓘ 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: $2,322 · $194/mo
• Projected year-2 tax: $2,322 · $194/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 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 26 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: $38,657
• − Mortgage interest: −$10,083
• − Property taxes: −$2,322
• − Insurance: −$6,018
• − Repairs & maintenance: −$3,093
• − Management: −$3,093
• − HOA: −$6,588
• − Depreciation: −$5,236
• Taxable income: $2,224
• Est. tax owed @ 24.0%: −$534
• After-tax cash flow: $3,749/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 — Aventura

• Score: 80/100
• State rank: #127
• US rank: #1834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aventura, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 34,147
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,718
• Household income: $67,040
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 3106.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 46% White 44% Two or more races 27% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 8% Dominican 1% Salvadoran 4%
• Common ancestry: Scotch-Irish 8% Hispanic 3% Subsaharan African 3%
• Foreign-born: 61% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · Spanish 45% Russian/Polish/Slavic 12% Other Indo-European 5%

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: ▲ 0.53%
• Current HPI: 284.9293
• Rent YoY: ▲ 0.94%
• 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

+650.0% since first listed

8 events — show timeline

• 2026-05-21 Listed $180,000 Beaches MLS
• 2024-11-05 Sold (Public Records) $160,000 Public Records
• 2024-10-30 Sold (MLS) $160,000 MARMLS
• 2024-10-05 Contingent — MARMLS
• 2024-08-26 Listed $170,000 MARMLS
• 2004-04-27 Sold (Public Records) $90,000 Public Records
• 2003-12-01 Sold (Public Records) $70,000 Public Records
• 1993-08-12 Sold (Public Records) $24,000 Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,322 · +1.0% YoY. Source: county tax records.