1600 NE 1st Ave #3614 · Miami, FL 33132

$478,000

1 bd · 1.0 ba · 857 sqft · Condo public records · 41 Days on market

Built 2018 $883/mo HOA · 21% 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 +5.8/30.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Appreciation +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +0.2/10.0

Listing remarks

Very Spacious 1 Bedroom 1/1.5 Bathrooms with DEN, Qualified Buyers can put only 3% down! Building has Reserves! Incredible Sunset views, all included in HOA, Located in the heart of Miami, easy access on/off major highways. 30,000 square feet amenities including 3 Pools, Jacuzzi, 3,000 sqft state of the art gym, Spa, Sauna & Treatment Room, Racquetball Court, Theater, Social Room, Indoor/Outdoor 24/7 security, concierge, management on site, self parking, valet on site. Motivated Owner.

Key facts

• Spa
• Sauna
• State of the art gym

Tags

• SUNSET VIEWS
• 3 POOLS
• JACUZZI
• STATE OF THE ART GYM
• SPA
• SAUNA

Property features AI

Finance

• Financial info: Pets allowed with size limit (more than 20 lbs permitted)
• HOA & community: Monthly association fee; Association fee includes amenities, cable TV, hot water, internet, building maintenance, and reserve fund; Association amenities include bike storage, cabana, clubhouse, elevators, fitness center, playground, pool, sauna, spa/hot tub, and trash service

Exterior

• Parking: 2-car garage; Valet parking available; One additional space
• Security: Elevator secured; Key card entry; Secured lobby; Security guard
• Utilities: Cable available
• Home design: Condominium (attached property); 36th-floor entry; 36th floor unit; 38-story building
• Construction: Block construction; Resale property
• Exterior features: Security/high-impact doors; Association pool

Interior

• Kitchen: Electric range; Self-cleaning oven; Microwave; Refrigerator; Icemaker; Garbage disposal
• Bedrooms: Den; Great Room
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Kitchen island
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $478k.

Deal economics

• At list price, monthly cash flow is $-960 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $308k (35.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $417k (12.8% below list).
• Recommended offer: $308k (35.5% below list) — sets the bar for cash-flow.
• Cap rate 3.9% 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).
• At $4,170/mo this rent would consume 46% 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 $12k 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 41 days — a 3% lower offer ($464k) 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: HOA is 21% of rent.
• 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 $308,326 (35.5% 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 41 days. Have you received any prior offers? Is the seller open to a 35% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.87% ✗
• Cap rate: 3.88%
• Cash-on-cash: -8.61%
• DSCR: 0.62
• GRM: 9.6

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: -30.0%
• Equity multiple: -0.03×
• Total profit: $-137,714
• Equity at exit: $81,423

10-year hold

• IRR: -37.7%
• Equity multiple: -0.67×
• Total profit: $-224,142
• Equity at exit: $58,979

Cash invested: $133,840 (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: 9.6×

Monthly cashflow live

• Estimated rent: $4,170 medium
• Mortgage (P&I): −$2,507
• Tax from tax record: −$666 /mo · $7,988/yr
• Insurance: −$199
• HOA: −$883
• Vacancy / Maint / Mgmt: −$876
• Net cashflow: $-960

Break-even live

Break-even rent $5,385

Max offer price $308,326

Occupancy floor —

Sensitivity live

Price	-10% $-690	-5% $-825	+0% $-960	+5% $-1,096	+10% $-1,231
Rent	-10% $-1,290	-5% $-1,125	+0% $-960	+5% $-796	+10% $-631
Rate	-1.0pp $-720	-0.5pp $-839	base $-960	+0.5pp $-1,084	+1.0pp $-1,210

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: $119,500
• Closing costs: $14,340
• 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	0d	4	0.72mi
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$8,110	$6.44	3d	13	0.96mi
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$3,771	$1.42	0d	19	1.32mi

HOA detail condo

• Monthly dues: $883 · $10,596/yr
• Likely covers: poolgymdoormansecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $478,000 Active 41 DOM
2. 2026-06-18
   days on market $478,000 Active 38 DOM
3. 2026-06-17
   days on market $478,000 Active 37 DOM
4. 2026-06-16
   days on market $478,000 Active 36 DOM
5. 2026-06-15
   days on market $478,000 Active 35 DOM
6. 2026-06-13
   days on market $478,000 Active 33 DOM
7. 2026-06-09
   days on market $478,000 Active 29 DOM
8. 2026-06-08
   days on market $478,000 Active 28 DOM
9. 2026-06-07
   days on market $478,000 Active 27 DOM
10. 2026-06-04
    days on market $478,000 Active 24 DOM
11. 2026-06-03
    days on market $478,000 Active 23 DOM
12. 2026-06-02
    days on market $478,000 Active 22 DOM
13. 2026-06-01
    days on market $478,000 Active 21 DOM
14. 2026-05-31
    days on market $478,000 Active 20 DOM
15. 2026-05-11
    listed $478,000 Active
16. 2024-11-14
    historical $3,150
17. 2024-11-01
    price $3,150
18. 2024-09-13
    listed $3,225

ⓘ 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: $7,988 · $666/mo
• Projected year-2 tax: $7,988 · $666/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: $50,036
• − Mortgage interest: −$26,775
• − Property taxes: −$7,988
• − Insurance: −$2,390
• − Repairs & maintenance: −$4,003
• − Management: −$4,003
• − HOA: −$10,596
• − Depreciation: −$13,905
• Taxable loss: −$19,625
• Est. tax savings @ 24.0%: +$4,710
• After-tax cash flow: $-6,816/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

+14721.7% since first listed

4 events — show timeline

• 2026-05-11 Listed $478,000 MARMLS
• 2024-11-14 Rental Removed $3,150 MARMLS
• 2024-11-01 Price Changed $3,150 MARMLS
• 2024-09-13 Listed for Rent $3,225 MARMLS

Property tax history

+3.0%/yr

Latest (2025): $7,988 · -8.4% YoY. Source: county tax records.