3881 W Flagler St #319 · Miami, FL 33134

$175,000

1 bd · 1.0 ba · 540 sqft · Condo public records · 67 Days on market

Built 1965 $323/mo HOA · 11% 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 +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming 1-bedroom, 1-bath apartment, featuring tile floors throughout, is centrally located with access to public transportation, shopping, restaurants, medical services, and places of worship. This 55-and-over gated, well-maintained community has a pool and in-house management.

Key facts

• Gated community
• Tile floors
• In-house management

Tags

• TILE FLOORS
• GATED COMMUNITY
• POOL
• IN-HOUSE MANAGEMENT

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $323; Association covers common areas, grounds maintenance, structure maintenance, roof, pool(s), security, trash, and water; Association amenities include elevator(s) and a pool; Senior community

Exterior

• Parking: Garage with 1 space; Guest parking / one guest space; 1 covered parking space
• Security: Complex fenced; Fire sprinkler system
• Utilities: Water included in association fee; Electric cooling and heating
• Home design: Attached property; 3 stories; Entry on level 3
• Construction: Block construction; Resale property
• Exterior features: Courtyard; Deck; Fenced complex; Fire sprinkler system; Association pool

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Bedroom on main level; Tile flooring

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $805 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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.
• Market conditions: Rents flat; 304 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 35% of the median local income ($100k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 0.9% rent growth), your $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $42k; list at $175k implies a 317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $164,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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 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?
8. 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?
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: 1.68% ✓
• Cap rate: 11.82%
• Cash-on-cash: 19.73%
• DSCR: 1.88
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.35×
• Total profit: $17,142
• Equity at exit: $26,093

10-year hold

• IRR: 16.3%
• Equity multiple: 2.19×
• Total profit: $58,181
• Equity at exit: $15,131

Cash invested: $49,000 (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 33134

• Rents YoY: 0.9%
• Active inventory: 304
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,945 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$207 /mo · $2,487/yr
• Insurance: −$73
• HOA: −$323
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $805

Break-even live

Break-even rent $1,925

Max offer price $175,000

Occupancy floor 68%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $323 · $3,876/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $175,000 Active 67 DOM
2. 2026-06-17
   days on market $175,000 Active 66 DOM
3. 2026-06-16
   days on market $175,000 Active 65 DOM
4. 2026-06-15
   days on market $175,000 Active 64 DOM
5. 2026-06-13
   days on market $175,000 Active 62 DOM
6. 2026-06-09
   days on market $175,000 Active 58 DOM
7. 2026-06-08
   days on market $175,000 Active 57 DOM
8. 2026-06-07
   days on market $175,000 Active 56 DOM
9. 2026-06-04
   days on market $175,000 Active 53 DOM
10. 2026-06-03
    days on market $175,000 Active 52 DOM
11. 2026-06-02
    days on market $175,000 Active 51 DOM
12. 2026-06-01
    days on market $175,000 Active 50 DOM
13. 2026-05-31
    days on market $175,000 Active 49 DOM
14. 2026-05-22
    price $175,000
15. 2026-04-12
    listed $185,000 Active
16. 1995-06-09
    soldstatus $42,000
17. 1992-10-08
    soldstatus $23,000
18. 1984-03-01
    soldstatus $25,400

ⓘ 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: $2,487 · $207/mo
• Projected year-2 tax: $2,487 · $207/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,338
• − Mortgage interest: −$9,803
• − Property taxes: −$2,487
• − Insurance: −$875
• − Repairs & maintenance: −$2,827
• − Management: −$2,827
• − HOA: −$3,876
• − Depreciation: −$5,091
• Taxable income: $7,552
• Est. tax owed @ 24.0%: −$1,812
• After-tax cash flow: $7,853/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): 38,174
• Household income: $99,766
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1812.0

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: Predominantly Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 45% White 21% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 41% Dominican 1% Salvadoran 2%
• Common ancestry: Lithuanian 2% Russian 2% Romanian 1%
• Foreign-born: 55% · Canada, Jamaica, Dominican Republic
• Languages at home: 22% English-only · Spanish 71% Other Indo-European 4% French/Haitian/Cajun 1%

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: ▼ -1014.50%
• Current HPI: 402.6405
• Rent YoY: ▲ 0.92%
• 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

+589.0% since first listed

5 events — show timeline

• 2026-05-22 Price Changed $175,000 MARMLS
• 2026-04-12 Listed $185,000 MARMLS
• 1995-06-09 Sold (Public Records) $42,000 Public Records
• 1992-10-08 Sold (Public Records) $23,000 Public Records
• 1984-03-01 Sold (Public Records) $25,400 Public Records

Property tax history

+9.6%/yr

Latest (2025): $2,487 · +7.6% YoY. Source: county tax records.