2465 SW 18th Ave #3208 · Miami, FL 33145

$225,000

1 bd · 1.0 ba · 611 sqft · Condo public records · 185 Days on market

Built 1971 $440/mo HOA · 15% of rent

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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 +22.4/30.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Amazing opportunity! This 1/1 is a Centrally-located, Gated Community in Grove Gardens off of SW 17th Ave and US1. Great location, minutes away from Downtown, Brickell, Coconut Grove or Coral Gables. Brand new vinyl acoustical floors, partially updated bathroom and a wall to wall large closet in the master bedroom. Lovely open balcony with garden view and quiet neighbors. Unit brings 1 dedicated parking space and has plenty of visitor parking. Amazing community pool to enjoy with friends and family. Laundry Facilities are on each floor, with one near to the apartment. Partially furnished with option to remove all furniture upon request. Make it your new home or great investor's opportunity

Key facts

• Gated community
• Garden views
• New appliances

Tags

• GARDEN VIEWS
• GATED COMMUNITY
• UPDATED BATHROOM
• UPDATED KITCHEN
• NEW APPLIANCES
• SPACIOUS WALL-TO-WALL CLOSET

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee; Association fee covers management, insurance, laundry, grounds maintenance, structure maintenance, parking, pest control, pool(s), reserve fund, sewer, security, trash and water; Community amenities include business center, laundry, pool and elevator(s)

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Complex is fenced; Phone entry system; Smoke detectors
• Utilities: Water service included in association; Sewer included in association; Electric power available
• Home design: Condominium/attached property; Three-story building; Entry on level 2; Updated/remodeled
• Construction: Block construction
• Exterior features: Balcony; Courtyard; Open balcony/porch

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Laminate floors; Tile floors
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Second floor entry; Sitting area in primary; Tub with shower; Elevator access
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+2.7%/yr); 225 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,022/mo this rent would consume 49% of the median local household income ($74k/yr) (locally 1517% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $55k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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: 1.34% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.17%
• DSCR: 1.32
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-12,972
• Equity at exit: $33,548

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $17,565
• Equity at exit: $19,454

Cash invested: $63,000 (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 33145

• Rents YoY: 2.7%
• Active inventory: 225
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $3,022 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$297 /mo · $3,570/yr
• Insurance: −$94
• HOA: −$440
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $377

Break-even live

Break-even rent $2,546

Max offer price $225,000

Occupancy floor 83%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $440 · $5,280/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $225,000 Active 185 DOM
2. 2026-06-17
   days on market $225,000 Active 184 DOM
3. 2026-06-16
   days on market $225,000 Active 183 DOM
4. 2026-06-15
   days on market $225,000 Active 182 DOM
5. 2026-06-13
   days on market $225,000 Active 180 DOM
6. 2026-06-09
   days on market $225,000 Active 176 DOM
7. 2026-06-08
   days on market $225,000 Active 175 DOM
8. 2026-06-07
   days on market $225,000 Active 174 DOM
9. 2026-06-04
   days on market $225,000 Active 171 DOM
10. 2026-06-03
    days on market $225,000 Active 170 DOM
11. 2026-06-02
    days on market $225,000 Active 169 DOM
12. 2026-06-01
    days on market $225,000 Active 168 DOM
13. 2026-05-31
    days on market $225,000 Active 167 DOM
14. 2026-05-15
    status Active
15. 2026-05-15
    price $225,000
16. 2025-12-16
    price $260,000
17. 2025-12-16
    historical
18. 2025-07-18
    listed $280,000 Active
19. 2022-11-18
    soldstatus $240,000
20. 2022-11-17
    soldstatus $240,000 Closed 701-char remark

    Show marketing remark (701 chars)

    Amazing opportunity! This 1/1 is a Centrally-located, Gated Community in Grove Gardens off of SW 17th Ave and US1. Great location, minutes away from Downtown, Brickell, Coconut Grove or Coral Gables. Brand new vinyl acoustical floors, partially updated bathroom and a wall to wall large closet in the master bedroom. Lovely open balcony with garden view and quiet neighbors. Unit brings 1 dedicated parking space and has plenty of visitor parking. Amazing community pool to enjoy with friends and family. Laundry Facilities are on each floor, with one near to the apartment. Partially furnished with option to remove all furniture upon request. Make it your new home or great investor's opportunity

21. 2022-10-26
    historical Active Under Contract 701-char remark

    Show marketing remark (701 chars)

    Amazing opportunity! This 1/1 is a Centrally-located, Gated Community in Grove Gardens off of SW 17th Ave and US1. Great location, minutes away from Downtown, Brickell, Coconut Grove or Coral Gables. Brand new vinyl acoustical floors, partially updated bathroom and a wall to wall large closet in the master bedroom. Lovely open balcony with garden view and quiet neighbors. Unit brings 1 dedicated parking space and has plenty of visitor parking. Amazing community pool to enjoy with friends and family. Laundry Facilities are on each floor, with one near to the apartment. Partially furnished with option to remove all furniture upon request. Make it your new home or great investor's opportunity

22. 2022-10-21
    listed $230,000 Active 701-char remark

    Show marketing remark (701 chars)

    Amazing opportunity! This 1/1 is a Centrally-located, Gated Community in Grove Gardens off of SW 17th Ave and US1. Great location, minutes away from Downtown, Brickell, Coconut Grove or Coral Gables. Brand new vinyl acoustical floors, partially updated bathroom and a wall to wall large closet in the master bedroom. Lovely open balcony with garden view and quiet neighbors. Unit brings 1 dedicated parking space and has plenty of visitor parking. Amazing community pool to enjoy with friends and family. Laundry Facilities are on each floor, with one near to the apartment. Partially furnished with option to remove all furniture upon request. Make it your new home or great investor's opportunity

23. 2018-08-13
    historical
24. 2018-08-07
    status Active
25. 2018-05-31
    status Pending
26. 2018-05-03
    listed $129,000 Active
27. 2000-07-25
    soldstatus $53,500

ⓘ 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: $3,570 · $297/mo
• Projected year-2 tax: $3,570 · $297/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 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: $36,268
• − Mortgage interest: −$12,603
• − Property taxes: −$3,570
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,901
• − Management: −$2,901
• − HOA: −$5,280
• − Depreciation: −$6,545
• Taxable income: $1,342
• Est. tax owed @ 24.0%: −$322
• After-tax cash flow: $4,196/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): 29,761
• Household income: $73,995
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1517.0

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 (79%)
• Race & ethnicity: Hispanic / Latino 79% Two or more races 51% White 16% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 41% Dominican 2% Salvadoran 2%
• Common ancestry: Estonian 2% Scotch-Irish 1% Italian 1%
• Foreign-born: 59% · Canada, Jamaica, Dominican Republic
• Languages at home: 13% English-only · Spanish 83% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -657.80%
• Current HPI: 485.4573
• Rent YoY: ▲ 2.73%
• 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

+320.6% since first listed

14 events — show timeline

• 2026-05-15 Relisted — MARMLS
• 2026-05-15 Price Changed $225,000 MARMLS
• 2025-12-16 Price Changed $260,000 MARMLS
• 2025-12-16 Listing Removed — MARMLS
• 2025-07-18 Listed $280,000 MARMLS
• 2022-11-18 Sold (Public Records) $240,000 Public Records
• 2022-11-17 Sold (MLS) $240,000 MARMLS
• 2022-10-26 Contingent — MARMLS
• 2022-10-21 Listed $230,000 MARMLS
• 2018-08-13 Listing Removed — MARMLS
• 2018-08-07 Relisted — MARMLS
• 2018-05-31 Pending — MARMLS
• 2018-05-03 Listed $129,000 MARMLS
• 2000-07-25 Sold (Public Records) $53,500 Public Records

Property tax history

+12.0%/yr

Latest (2025): $3,570 · -0.2% YoY. Source: county tax records.