2451 Brickell Ave Apt 6k Ave · Miami, FL 33129

$5,000

1 bd · 1.0 ba · 886 sqft · Condo public records · 6 Days on market

Built 1963

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +4.4/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0

Listing remarks

Foreclosure Auction Ends June 22, 2026 at 9:00 AM EST. Explore this charming 1-bedroom, 1-bath condo residence set in a peaceful and well-located Miami community. The list price is the opening bid for the online auction. Sold As-is. Explore more details and submit your bid through Federa.

Key facts

• Garage
• Listed 6 days

Property features AI

Exterior

• Parking: Attached garage with 1 parking space
• Home design: Residential condominium

Interior

• Bathrooms: One full bathroom
• Interior features: Directions provided to unit from I-95: Take Exit 2A, head east on SW 26th Rd, then turn onto Brickell Ave to Apt 6K

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $5k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $5k).
• Cap rate 549.4% 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 rising (+2.2%/yr); 234 active listings in the ZIP; high-income renter base; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 43% of the median local income ($113k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-1.2%/yr); year-one equity from $35 of loan paydown is wiped out by about $58 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 (-1.2% appreciation + 2.2% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo; HOA is 22% of rent.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $5,000

Questions for the listing agent

1. Built in 1963 — 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 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. 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: 81.15% ✓
• Cap rate: 549.36%
• Cash-on-cash: 1939.52%
• DSCR: 87.30
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.16% appreciation · 2.23% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 71.72×
• Total profit: $99,007
• Equity at exit: $1,169

10-year hold

• IRR: —
• Equity multiple: 150.20×
• Total profit: $208,874
• Equity at exit: $1,196

Cash invested: $1,400 (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 33129

• Home prices YoY: -0.3%
• Rents YoY: 2.2%
• Active inventory: 234
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $4,057 medium
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA est. from 6 same-building comps: −$908
• Vacancy / Maint / Mgmt: −$852
• Net cashflow: $1,594

Break-even live

Break-even rent $2,040

Max offer price $5,000

Occupancy floor 56%

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $5,000 Active 6 DOM
2. 2026-06-17
   days on market $5,000 Active 5 DOM
3. 2026-06-16
   days on market $5,000 Active 4 DOM
4. 2026-06-15
   days on market $5,000 Active 3 DOM
5. 2026-06-13
   remarks 289-char remark
6. 2026-06-13
   listed $5,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone VE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 29 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: $48,688
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$8,053
• − Repairs & maintenance: −$3,895
• − Management: −$3,895
• − HOA: −$10,896
• − Depreciation: −$145
• Taxable income: $21,449
• Est. tax owed @ 24.0%: −$5,148
• After-tax cash flow: $13,978/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): 14,702
• Household income: $113,367
• Rent vs Own: 53.2% rent · 46.8% own
• Severe rent burden: 655.0

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 (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 48% White 19% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 25% Dominican 2% Salvadoran 3%
• Common ancestry: Lithuanian 3% Estonian 3% Italian 1%
• Foreign-born: 58% · Canada, Jamaica, Dominican Republic
• Languages at home: 15% English-only · Spanish 73% Other Indo-European 5% French/Haitian/Cajun 4%

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: ▼ -1.16%
• Current HPI: 366.9874
• Rent YoY: ▲ 2.23%
• 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

-92.8% since first listed

7 events — show timeline

• 2026-06-12 Listed $5,000 NFMLS
• 2025-03-18 Listing Removed — Beaches MLS
• 2025-03-05 Listed $380,000 Beaches MLS
• 2006-03-26 Sold (Public Records) $360,000 Public Records
• 2005-04-27 Sold (Public Records) $194,000 Public Records
• 1988-10-01 Sold (Public Records) $56,000 Public Records
• 1980-02-01 Sold (Public Records) $69,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $5,593 · +9.8% YoY. Source: county tax records.