245 NE 191st St #3017 · Ives Estates, FL 33179

$130,000

1 bd · 1.0 ba · 660 sqft · Condo public records · 30 Days on market

Built 1965 $536/mo HOA · 19% 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 +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Star Lakes Condominium is a 55+ community that is centrally located between downtown Miami and Ft Lauderdale and minutes away from Miami International Airport and Ft Lauderdale International Airport. This 660 square foot suite has an amazing, tranquil water view that catches your eye the moment you enter the space. Relaxing on the screened balcony overlooking the lake with the cool South Florida breeze is a must experience. There are two entrances to your home, the main living area entrance and the kitchen entrance, which is useful when cooking or unpacking groceries. Tile flooring throughout and new carpet in the bedroom. And by the way, the bedroom easily accommodates a king size bed with

Key facts

• Tranquil water view
• Pool area
• Screened balcony

Tags

• TRANQUIL WATER VIEW
• SCREENED BALCONY
• TWO ENTRANCES
• TILE FLOORING
• NEW GYM
• POOL AREA

Property features AI

Finance

• Other: Association pool
• Financial info: Pets not allowed
• HOA & community: Monthly association fee ($536); Association covers common areas, grounds maintenance, and structure maintenance; Community amenities include clubhouse, fitness center, laundry, and pool; Senior community

Exterior

• Parking: Guest parking; One assigned space
• Security: Complex fenced
• Utilities: Electric water heater
• Home design: Attached property; 2-story building; Entry on second level
• Construction: Block construction; Resale property
• Exterior features: Balcony; Fenced (complex fenced); Screened balcony/porch; Lakefront; Has a view

Interior

• Kitchen: Dishwasher
• Bedrooms: Bedroom located on the main level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Wall/window cooling units
• Interior features: Blinds; Bedroom on main level; Second floor entry
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 3.6% in Ives Estates — 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 77/100 on livability (#191 in FL, #3,061 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: employment C-, 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 $2,892/mo this rent would consume 53% 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 $899 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.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $44k; list at $130k implies a 195% 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 3→11/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 2.22% ✓
• Cap rate: 14.81%
• Cash-on-cash: 30.41%
• DSCR: 2.35
• GRM: 3.7

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $3,233
• Equity at exit: $19,383

10-year hold

• IRR: 7.0%
• Equity multiple: 1.42×
• Total profit: $15,330
• Equity at exit: $11,240

Cash invested: $36,400 (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 33179

• Rents YoY: 0.2%
• Active inventory: 572
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,892 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$90 /mo · $1,082/yr
• Insurance: −$54
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$536
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $496

Break-even live

Break-even rent $2,264

Max offer price $130,000

Occupancy floor 78%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $536 · $6,432/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $130,000 Active 30 DOM
2. 2026-06-17
   days on market $130,000 Active 29 DOM
3. 2026-06-16
   days on market $130,000 Active 28 DOM
4. 2026-06-15
   days on market $130,000 Active 27 DOM
5. 2026-06-13
   days on market $130,000 Active 25 DOM
6. 2026-06-09
   days on market $130,000 Active 21 DOM
7. 2026-06-08
   days on market $130,000 Active 20 DOM
8. 2026-06-07
   days on market $130,000 Active 19 DOM
9. 2026-06-04
   days on market $130,000 Active 16 DOM
10. 2026-06-03
    days on market $130,000 Active 15 DOM
11. 2026-06-02
    days on market $130,000 Active 14 DOM
12. 2026-06-01
    days on market $130,000 Active 13 DOM
13. 2026-05-31
    days on market $130,000 Active 12 DOM
14. 2026-05-19
    status Active
15. 2026-04-16
    historical
16. 2026-04-15
    listed $130,000 Active
17. 2020-11-17
    soldstatus $44,000
18. 2001-11-13
    soldstatus $20,000
19. 1982-07-01
    soldstatus $30,000

ⓘ 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: $1,082 · $90/mo
• Projected year-2 tax: $1,082 · $90/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 · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 3 d/yr ≥105°F today · 11 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,700
• − Mortgage interest: −$7,282
• − Property taxes: −$1,082
• − Insurance: −$5,768
• − Repairs & maintenance: −$2,776
• − Management: −$2,776
• − HOA: −$6,432
• − Depreciation: −$3,782
• Taxable income: $4,802
• Est. tax owed @ 24.0%: −$1,152
• After-tax cash flow: $4,797/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 — Ives Estates

• Score: 77/100
• State rank: #191
• US rank: #3061

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami-Dade County · 2,697,751 people
• City population: 51,591
• 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

+333.3% since first listed

6 events — show timeline

• 2026-05-19 Relisted — MARMLS
• 2026-04-16 Listing Removed — MARMLS
• 2026-04-15 Listed $130,000 MARMLS
• 2020-11-17 Sold (Public Records) $44,000 Public Records
• 2001-11-13 Sold (Public Records) $20,000 Public Records
• 1982-07-01 Sold (Public Records) $30,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,082 · +5.0% YoY. Source: county tax records.