18101 NW 68th Ave Unit E105

Country Club, FL 33015

$160,000C+

2 bd · 2.0 ba · 1,210 sqft · Built 1970 · Condo · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,642/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$765
• HOA: −$600
• Vac / Maint / Mgmt: −$555
• Net cashflow: $-117/mo
• Annual: $-1,408/yr
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• 1% rule: 1.65%
• Cash to close: $44,800

Investor read

• This is a 2-bed/2.0-bath condo listed at $160k.
• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (13.0% below list).
• Meets the 1% rule at list price ($3k rent vs $160k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $139k (13.0% below list) — sets the bar for cash-flow.
• 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.
• Location reads 76/100 on livability (#226 in FL, #3,578 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, commute B+, health & safety B+; Watch: employment C-, 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.
• Zoned schools: Spanish Lake Elementary School (math 50% / reading 53%, grade C-, #1,035 of 2,144 statewide, top 49%, 1,183 students, 61% FRL); Country Club Middle School (math 22% / reading 34%, grade F, #486 of 571 statewide, top 86%, 644 students, 70% FRL); American Senior High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,652 students, 65% FRL) — zoned schools at 66% FRL track the district average.
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-14 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $427/mo; HOA is 23% of rent.
• Market conditions: Rents soft (-1.0%/yr); 258 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $80k; list at $160k implies a 101% gain — meaningful room to come down on a strong offer.
• 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.6% vs local median 3.1% in Country Club — 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.
• This rent runs 41% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.