18181 NE 31st Ct #1408 · Aventura, FL 33160

$299,900

3 bd · 2.0 ba · 1,629 sqft · Condo public records · 38 Days on market

Built 1981 $1533/mo HOA · 28% 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 +24.2/30.0
• 1% rule +10.0/10.0
• DSCR +7.8/10.0
• 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

MUST SELL! LG. 3/2.5 Corner, Totally Updated! Kitchen, Bathrooms, Built-ins, Updated Light Fixtures, Flat Ceilings, Built-Out Closets, etc. .. Very Spacious Floor Plan. Super Clean! Move Right In! Awesome Views of Marina and Ocean! Large Balcony. Assessment - $244 per month until 10/2019.

Key facts

• Solid wood cabinetry
• Split-bedroom layout
• Sweeping views

Tags

• OVERSIZED SPLIT-PLAN RESIDENCE
• SWEEPING VIEWS
• SPLIT-BEDROOM LAYOUT
• FLOOR-TO-CEILING WINDOWS
• UPDATED KITCHEN
• SOLID WOOD CABINETRY

Property features AI

Finance

• Financial info: Pets allowed (yes) with size limit — maximum 20 lbs
• HOA & community: Monthly association fee; Association covers cable TV, hot water, insurance, laundry, building maintenance, parking, pest control, pools, recreation facilities, sewer, security, trash, and water; Community amenities include fitness center, laundry facilities, barbecue/picnic area, pool, storage, tennis courts, trash service, and elevators; Community has 262 units

Exterior

• Parking: Assigned covered garage space (attached, 1 space); Secured garage/parking
• Security: Doorman; Secured elevator
• Utilities: Cable available
• Home design: Condominium / attached property; Single-story unit; Entry at level 14
• Construction: Block construction; Effective year built
• Exterior features: Balcony (open); Heated pool; Lakefront waterfront; Has a view, faces southeast; Exterior lighting

Interior

• Kitchen: Electric range; Icemaker; Microwave
• Bedrooms: Bedroom on main level; Bedroom 2 (16 x 13)
• Flooring: Hardwood; Tile; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Blinds on windows; Unfurnished; Living/Dining room layout; Split bedroom floor plan; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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: schools A+, health & safety A+, amenities 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.
• Market conditions: Rents flat; 1870 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $5,476/mo this rent would consume 98% 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 $4k of equity ($2k loan paydown + $2k 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.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago; this cycle's ask has dropped $50k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 28% of rent.
• 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.83% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.55%
• DSCR: 1.38
• GRM: 4.6

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: -0.0%
• Equity multiple: 1.00×
• Total profit: $-66
• Equity at exit: $95,066

10-year hold

• IRR: 2.7%
• Equity multiple: 1.28×
• Total profit: $23,819
• Equity at exit: $120,858

Cash invested: $83,972 (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: 4.6×

Monthly cashflow live

• Estimated rent: $5,476 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$497 /mo · $5,959/yr
• Insurance: −$125
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,533
• Vacancy / Maint / Mgmt: −$1,150
• Net cashflow: $172

Break-even live

Break-even rent $5,258

Max offer price $299,900

Occupancy floor 92%

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17875 Collins Ave Sunny Isles Beach, FL	3.0	3.0	2122	$22,000	$10.37	11d	3	1.17mi
17141 Collins Ave Sunny Isles Beach, FL	3.0	2.5	2042	$19,000	$9.30	24d	1	1.29mi
17141 Collins Ave #4602 Sunny Isles Beach, FL	2.0	2.5	2042	$25,000	$12.24	7d	1	1.29mi
17141 Collins Ave #4602 Sunny Isles Beach, FL	2.0	2.5	2042	$25,000	$12.24	5d	1	1.29mi

HOA detail condo

• Monthly dues: $1,533 · $18,396/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $299,900 Active 38 DOM
2. 2026-06-17
   days on market $299,900 Active 37 DOM
3. 2026-06-16
   days on market $299,900 Active 36 DOM
4. 2026-06-15
   days on market $299,900 Active 35 DOM
5. 2026-06-13
   days on market $299,900 Active 33 DOM
6. 2026-06-09
   days on market $299,900 Active 29 DOM
7. 2026-06-08
   days on market $299,900 Active 28 DOM
8. 2026-06-07
   pricedays on market $299,900 Active 27 DOM
9. 2026-06-04
   days on market $349,900 Active 24 DOM
10. 2026-06-03
    days on market $349,900 Active 23 DOM
11. 2026-06-02
    days on market $349,900 Active 22 DOM
12. 2026-06-01
    days on market $349,900 Active 21 DOM
13. 2026-05-31
    days on market $349,900 Active 20 DOM
14. 2026-05-11
    listed $349,900 Active
15. 2025-11-18
    historical
16. 2025-07-03
    status Active
17. 2025-07-01
    historical
18. 2025-02-05
    status Active
19. 2025-02-04
    historical
20. 2025-01-16
    price $380,000
21. 2024-11-07
    price $420,000
22. 2024-10-08
    listed $440,000 Active
23. 2019-06-25
    soldstatus $320,000 Sold 289-char remark

    Show marketing remark (289 chars)

    MUST SELL! LG. 3/2.5 Corner, Totally Updated! Kitchen, Bathrooms, Built-ins, Updated Light Fixtures, Flat Ceilings, Built-Out Closets, etc. .. Very Spacious Floor Plan. Super Clean! Move Right In! Awesome Views of Marina and Ocean! Large Balcony. Assessment - $244 per month until 10/2019.

24. 2019-06-03
    status Backup Contract 289-char remark

    Show marketing remark (289 chars)

    MUST SELL! LG. 3/2.5 Corner, Totally Updated! Kitchen, Bathrooms, Built-ins, Updated Light Fixtures, Flat Ceilings, Built-Out Closets, etc. .. Very Spacious Floor Plan. Super Clean! Move Right In! Awesome Views of Marina and Ocean! Large Balcony. Assessment - $244 per month until 10/2019.

25. 2019-03-20
    price $339,000 289-char remark

    Show marketing remark (289 chars)

    MUST SELL! LG. 3/2.5 Corner, Totally Updated! Kitchen, Bathrooms, Built-ins, Updated Light Fixtures, Flat Ceilings, Built-Out Closets, etc. .. Very Spacious Floor Plan. Super Clean! Move Right In! Awesome Views of Marina and Ocean! Large Balcony. Assessment - $244 per month until 10/2019.

26. 2019-01-02
    historical

    Show marketing remark (289 chars)

    MUST SELL! LG. 3/2.5 Corner, Totally Updated! Kitchen, Bathrooms, Built-ins, Updated Light Fixtures, Flat Ceilings, Built-Out Closets, etc. .. Very Spacious Floor Plan. Super Clean! Move Right In! Awesome Views of Marina and Ocean! Large Balcony. Assessment - $244 per month until 10/2019.

27. 2019-01-02
    listed $359,000 Active 289-char remark

    Show marketing remark (289 chars)

    MUST SELL! LG. 3/2.5 Corner, Totally Updated! Kitchen, Bathrooms, Built-ins, Updated Light Fixtures, Flat Ceilings, Built-Out Closets, etc. .. Very Spacious Floor Plan. Super Clean! Move Right In! Awesome Views of Marina and Ocean! Large Balcony. Assessment - $244 per month until 10/2019.

28. 2018-10-12
    price $369,900
29. 2018-07-12
    listed $385,000 Active
30. 2010-07-28
    soldstatus $175,000
31. 2004-07-07
    soldstatus $317,000
32. 1991-07-26
    soldstatus $110,000
33. 1987-06-01
    soldstatus $152,500

ⓘ 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: $5,959 · $497/mo
• Projected year-2 tax: $5,959 · $497/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 7/10 Severe FEMA zone AE · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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: $65,709
• − Mortgage interest: −$16,799
• − Property taxes: −$5,959
• − Insurance: −$6,618
• − Repairs & maintenance: −$5,257
• − Management: −$5,257
• − HOA: −$18,396
• − Depreciation: −$8,724
• Taxable loss: −$1,300
• Est. tax savings @ 24.0%: +$312
• After-tax cash flow: $2,377/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

+129.4% since first listed

20 events — show timeline

• 2026-05-11 Listed $349,900 MARMLS
• 2025-11-18 Listing Removed — Beaches MLS
• 2025-07-03 Relisted — Beaches MLS
• 2025-07-01 Listing Removed — Beaches MLS
• 2025-02-05 Relisted — Beaches MLS
• 2025-02-04 Listing Removed — Beaches MLS
• 2025-01-16 Price Changed $380,000 Beaches MLS
• 2024-11-07 Price Changed $420,000 Beaches MLS
• 2024-10-08 Listed $440,000 Beaches MLS
• 2019-06-25 Sold (MLS) $320,000 MARMLS
• 2019-06-03 Pending — MARMLS
• 2019-03-20 Price Changed $339,000 MARMLS
• 2019-01-02 Listed $359,000 MARMLS
• 2019-01-02 Listing Removed — MARMLS
• 2018-10-12 Price Changed $369,900 MARMLS
• 2018-07-12 Listed $385,000 MARMLS
• 2010-07-28 Sold (MLS) $175,000 MARMLS
• 2004-07-07 Sold (Public Records) $317,000 Public Records
• 1991-07-26 Sold (Public Records) $110,000 Public Records
• 1987-06-01 Sold (Public Records) $152,500 Public Records

Property tax history

+5.7%/yr

Latest (2025): $5,959 · +6.9% YoY. Source: county tax records.