2855 Leonard Dr Unit H607 · Aventura, FL
Flood risk 7/10 · Major
- FEMA flood zone
- AE
- Chance of flooding over 30 yrs
- 0.75%
- Est. flood insurance / yr
- $1,737 – $8,500
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $947 – $1,759
Heat risk 10/10 · Severe
- Hot days now (above 104°F)
- 7 days/yr
- Hot days in 30 yrs
- 26 days/yr
Wind risk 10/10 · Severe
- Chance of severe wind over 30 yrs
- 99.0%
Air-quality risk 2/10 · Minimal
- Unhealthy air days now
- 1 days/yr
- Unhealthy air days in 30 yrs
- 2 days/yr
Risk factors via First Street. Map © Google.
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 +22.5/30.0
- ARV discount +12.5/15.0
- 1% rule +7.5/10.0
- DSCR +7.5/10.0
- Appreciation +5.3/10.0
- Schools +4.5/10.0
- Livability +4.0/5.0
- Condition / age +4.0/5.0
- Rent growth +2.7/5.0
$135,000
2855 Leonard Dr Unit H607 · Aventura, FL 33160
1 bd · 1.0 ba · 777 sqft · Condo
public records
· 323 Days on market
55+ age-restricted
Built 1968
$174/sqft
· 11% below area
Est $152k · 11% under
$456/mo HOA · 14% of rent
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks
Welcome to this well-maintained 55+ waterfront condo in the heart of Aventura, offering breathtaking views of Maule Lake. Located in a financially sound community with 50-Year Certification Complete and Reserves in Place, this residence provides peace of mind and exceptional value. The condo features a very clean spacious layout with NEW carpeted main living areas, a generously sized bedroom with two walk-in closets, and an accessible master bathroom with a combination tub/shower. Enjoy your mornings or evenings on the screened balcony overlooking Maule Lake.
Key facts
- Brand-new elevators
- Screened balcony
- Waterfront condo
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 1-bed/1.0-bath condo listed at $135k. Condition is rated good.
Deal economics
- At list price, monthly cash flow is $654 ($8k/yr) — positive.
- The deal already cash-flows at list — no discount required.
- Meets the 1% rule at list price ($3k rent vs $135k).
- Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
- Cap rate 15.9% vs local median 2.8% 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: health & safety A+, amenities A, commute 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.
- Zoned schools: Aventura Waterways K-8 Center (math 56% / reading 65%, grade B-, #664 of 2,144 statewide, top 32%, 2,168 students, 32% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Dr. Michael M. Krop Senior High (math 21% / reading 46%, grade F, #400 of 667 statewide, top 61%, 2,235 students, 49% FRL) — zoned schools average 44% FRL vs 64% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
- Market conditions: Rents flat; 2541 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
- At $3,163/mo this rent would consume 57% of the median local household income ($67k/yr) (locally 17% 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 $2k of equity ($933 loan paydown + $711 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.
- At projected returns (0.5% appreciation + 0.9% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.
Negotiation context
- It's been on market 323 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
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 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer
$118,800
(12.0% below list)
Questions for the listing agent
- It's been on market 323 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
- Built in 1968 — 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?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- 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?
- 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?
- 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.
- 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.
- 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
- 2.34% ✓
- Cap rate
- 15.90%
- Cash-on-cash
- 34.32%
- DSCR
- 2.53
- GRM
- 3.6
CMA / ARV
- ARV (median comp)
- $151,721
- List price
- $135,000
- Delta
- -11.02%
- Verdict
- UNDERPRICED
- Comps
- 20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 2861 Leonard Dr Unit F608 | 0.07mi | 1/1.0 | 763 (-2%) | 0mo | $122,500 | $161 | 94 |
| 2905 Point East Dr Unit L311 | 0.11mi | 1/1.0 | 768 (-1%) | 1mo | $110,000 | $143 | 92 |
| 3000 Marcos Dr Unit P612 | 0.23mi | 1/1.0 | 768 (-1%) | 1mo | $150,000 | $195 | 87 |
| 2855 Leonard Dr Unit H606 | 0.00mi | 2/1.0 (+1) | 965 (+24%) | 1mo | $150,000 | $155 | 69 |
| 2025 NE 164th St #707 | 1.28mi | 1/1.5 | 790 (+2%) | 0mo | $105,000 | $133 | 60 |
| 3716 NE 168th St #303 | 0.83mi | 2/1.5 (+1) | 807 (+4%) | 0mo | $255,000 | $316 | 52 |
| 2841 NE 163rd St #1007 | 1.02mi | 1/1.0 | 710 (-9%) | 0mo | $230,000 | $324 | 50 |
| 201 178th Dr #315 | 1.35mi | 2/2.0 (+1) | 747 (-4%) | 0mo | $376,000 | $503 | 49 |
| 3716 NE 168th St #301 | 0.83mi | 1/1.5 | 712 (-8%) | 0mo | $175,000 | $246 | 49 |
| 2175 NE 170th St #107 | 0.91mi | 1/1.5 | 843 (+8%) | 0mo | $160,000 | $190 | 48 |
| 251 174th St #714 | 1.15mi | 1/1.5 | 943 (+21%) | 0mo | $220,000 | $233 | 38 |
| 200 177th Dr #419 | 1.38mi | 1/1.5 | 620 (-20%) | 1mo | $186,000 | $300 | 37 |
Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.
Projected returns pro-forma
0.53% appreciation · 0.94% rent growth · sell at horizon
5-year hold
- IRR
- 19.3%
- Equity multiple
- 1.93×
- Total profit
- $35,295
- Equity at exit
- $42,794
10-year hold
- IRR
- 21.0%
- Equity multiple
- 3.20×
- Total profit
- $83,197
- Equity at exit
- $54,404
Cash invested: $37,800 (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.
Active competition Active MLS
- For sale now
- 9 active · 3 under contract
- Median asking
- $224,000 ($324/sqft)
- Median days on market
- 89 d
- This list price
- lowest-priced of the active set
- ARV vs active asking
- -39.7% vs current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 33160
- Home prices YoY
- 0.2%
- Rents YoY
- 0.9%
- Active inventory
- 2541
- Price-to-rent
- 3.6×
Monthly cashflow live
↻
- Estimated rent
- $3,163 medium interval (Pro) →
- Mortgage (P&I)
- −$708
- Tax from tax record
- −$198 /mo · $2,374/yr
- Insurance
- −$56
- Flood insurance flood zone
- −$427 /mo · $5,118/yr
- HOA
- −$456
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$664
- Net cashflow
- $654
Break-even live
Break-even rent
$2,335
Max offer price
$135,000
Occupancy floor
74%
Sensitivity live
| Price | -10% $731 | -5% $693 | +0% $654 | +5% $616 | +10% $578 |
|---|---|---|---|---|---|
| Rent | -10% $405 | -5% $530 | +0% $654 | +5% $779 | +10% $904 |
| Rate | -1.0pp $722 | -0.5pp $689 | base $654 | +0.5pp $619 | +1.0pp $584 |
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
- $33,750
- Closing costs
- $4,050
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Property features AI
Finance
- Financial info
- Pets allowed with restrictions or possible restrictions
- HOA & community
- Monthly association feeHOA includes amenities, common areas, cable TV, internet, laundry, grounds maintenance, structure maintenance, parking, pool(s), roof, sewer and waterAssociation amenities include barbecue, picnic area, trails, elevatorsSenior community
Exterior
- Parking
- Guest parkingOne assigned space
- Security
- Security guard
- Utilities
- Water availableSewer availablePower available
- Home design
- Condominium/attached property6-story buildingEntry on 6th floor
- Construction
- Block constructionResale property
- Exterior features
- BalconyScreened balconyLakefrontHas viewSecurity guard
Interior
- Kitchen
- Electric rangeMicrowaveRefrigeratorIcemaker
- Flooring
- Carpet
- Bathrooms
- 1 full bathroom
- Heating & cooling
- Central heatingCentral airCeiling fan(s)
- Interior features
- Bedroom on main levelHandicap accessLiving/dining roomPantry
HOA detail $456/mo · $5,472/yr condo
- Likely covers
- water
- Assessments
- None detected in remarks — confirm with the listing agent.
Listing history 50 events
-
2026-11-08days on market $135,000 Active 323 DOM
-
2026-11-07days on market $135,000 Active 322 DOM
-
2026-11-07days on market $135,000 Active 321 DOM
-
2026-11-05days on market $135,000 Active 320 DOM
-
2026-11-04days on market $135,000 Active 319 DOM
-
2026-11-01days on market $135,000 Active 316 DOM
-
2026-10-31days on market $135,000 Active 315 DOM
-
2026-10-30days on market $135,000 Active 314 DOM
-
2026-10-29days on market $135,000 Active 313 DOM
-
2026-10-27days on market $135,000 Active 311 DOM
-
2026-10-26days on market $135,000 Active 310 DOM
-
2026-10-26days on market $135,000 Active 309 DOM
-
2026-10-24days on market $135,000 Active 308 DOM
-
2026-10-23days on market $135,000 Active 307 DOM
-
2026-10-22days on market $135,000 Active 306 DOM
-
2026-10-21days on market $135,000 Active 305 DOM
-
2026-10-20days on market $135,000 Active 304 DOM
-
2026-10-19days on market $135,000 Active 303 DOM
-
2026-10-18days on market $135,000 Active 302 DOM
-
2026-10-17days on market $135,000 Active 301 DOM
-
2026-10-16days on market $135,000 Active 300 DOM
-
2026-10-15days on market $135,000 Active 299 DOM
-
2026-10-14days on market $135,000 Active 298 DOM
-
2026-10-13days on market $135,000 Active 297 DOM
-
2026-10-12days on market $135,000 Active 296 DOM
-
2026-10-11days on market $135,000 Active 295 DOM
-
2026-10-10days on market $135,000 Active 294 DOM
-
2026-10-09days on market $135,000 Active 293 DOM
-
2026-10-09days on market $135,000 Active 292 DOM
-
2026-10-06days on market $135,000 Active 290 DOM
-
2026-10-05days on market $135,000 Active 289 DOM
-
2026-10-04days on market $135,000 Active 288 DOM
-
2026-10-04days on market $135,000 Active 287 DOM
-
2026-10-02days on market $135,000 Active 286 DOM
-
2026-09-30days on market $135,000 Active 284 DOM
-
2026-09-29days on market $135,000 Active 283 DOM
-
2026-09-28days on market $135,000 Active 282 DOM
-
2026-09-27days on market $135,000 Active 281 DOM
-
2026-09-22days on market $135,000 Active 276 DOM
-
2026-09-20days on market $135,000 Active 274 DOM
-
2026-09-18days on market $135,000 Active 272 DOM
-
2026-09-17days on market $135,000 Active 271 DOM
-
2026-09-16days on market $135,000 Active 270 DOM
-
2026-09-15days on market $135,000 Active 269 DOM
-
2026-09-13days on market $135,000 Active 267 DOM
-
2026-09-12days on market $135,000 Active 266 DOM
-
2026-09-11days on market $135,000 Active 265 DOM
-
2026-09-05days on market $135,000 Active 259 DOM
-
2026-09-04days on market $135,000 Active 258 DOM
-
2026-08-31days on market $135,000 Active 254 DOM
ⓘ 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
- $2,374 · $198/mo
- Projected year-2 tax
- $2,374 · $198/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 · 75% 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 · 2 by 30 yrs out
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $37,959
- − Mortgage interest
- −$7,562
- − Property taxes
- −$2,374
- − Insurance
- −$5,794
- − Repairs & maintenance
- −$3,037
- − Management
- −$3,037
- − HOA
- −$5,472
- − Depreciation
- −$3,927
- Taxable income
- $6,758
combined federal + state — saved on this device
- Est. tax owed @ 24.0%
- −$1,622
- After-tax cash flow
- $6,232/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.
Condition & rehab AI · 9 photos
80/100
Cosmetic rehab
Est. rehab $3,885–$11,655 screening
This well-maintained 55+ waterfront condo in Aventura offers serene views of Maule Lake and is in good condition with minimal repairs needed. Painting the exterior walls and cleaning the carpeted flooring can further enhance its value.
Value-add opportunities
- Both Paint the exterior walls — Painting the exterior walls can enhance the curb appeal and increase the property's resale and rental value. ↑
- Both Clean the carpeted flooring — A clean carpet can improve the overall appearance of the interior and make the space more inviting for potential buyers or renters. ↑
ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
F
Composite school gradezoned avg 44/100
Zoned Schools
Elementary
Aventura Waterways K-8 Center
B-
FL #664/2,144
Nat'l #7,053/41,679
Middle
Highland Oaks Middle School
F
FL #373/571
Nat'l #6,151/14,009
High
Dr. Michael M. Krop Senior High
F
FL #400/667
Nat'l #10,191/17,239
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
A
Composite livability gradescore 80/100
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 · 3,126,439 people
- City population
- 34,147
- Metro
- Miami-Fort Lauderdale-Pompano Beach, FL
- Population (ZIP)
- 43,718
- Household income
- $67,040
- Rent vs Own
- Severe rent burden
- 17% of renters
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%
- 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 |
|
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Price history
1 event — show timeline
- 2025-12-20 Listed $148,000 MARMLS
Property tax history
+21.9%/yrLatest (2025): $2,374 · +689.7% YoY. Source: county tax records.
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…