1450 NE 191st St #404 · Ojus, FL 33179

$169,000

1 bd · 1.0 ba · 954 sqft · Condo public records · 326 Days on market

Built 1967 $600/mo HOA · 18% of rent

---

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 +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 1 bedroom 1.5 bathroom, centrally located to I-95, shopping centers, schools, hospitals, Aventura Mall and the beautiful Miami Beaches. Excellent Purchase Opportunity!

Key facts

• Shopping centers
• Balcony
• Centrally located

Tags

• TILE FLOORING
• BALCONY
• GARDEN VIEWS
• CENTRALLY LOCATED
• SHOPPING CENTERS
• MAJOR HIGHWAYS

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with conditions and possible restrictions
• HOA & community: Monthly association fee of $600; Association covers common areas, hot water, insurance, grounds maintenance, and parking; Community pool

Exterior

• Parking: Includes an attached garage with 1 covered space
• Security: Secured elevator
• Home design: Attached property; 4-story building; Unit located on the 4th floor
• Construction: Block construction; Resale property
• Exterior features: Balcony; Screened balcony; Association pool

Interior

• Kitchen: Refrigerator
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Elevator; Tile flooring

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 8.7% in Ojus — 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 83/100 on livability (#58 in FL, #1,031 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: 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: Ojus Elementary School (math 56% / reading 59%, grade C+, #764 of 2,144 statewide, top 36%, 776 students, 63% 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).
• Market conditions: Rents flat; 573 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,289/mo this rent would consume 61% of the median local household income ($65k/yr) (locally 3123% 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 $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.

Negotiation context

• It's been on market 326 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago 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.
• Current owner paid $61k; list at $169k implies a 177% gain — meaningful room to come down on a strong offer.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 326 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 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.95% ✓
• Cap rate: 12.39%
• Cash-on-cash: 21.78%
• DSCR: 1.97
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.22% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.83×
• Total profit: $-8,138
• Equity at exit: $25,198

10-year hold

• IRR: -1.4%
• Equity multiple: 0.92×
• Total profit: $-3,681
• Equity at exit: $14,612

Cash invested: $47,320 (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 33179

• Rents YoY: 0.2%
• Active inventory: 573
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $3,289 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$183 /mo · $2,193/yr
• Insurance: −$70
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$600
• Vacancy / Maint / Mgmt: −$691
• Net cashflow: $432

Break-even live

Break-even rent $2,742

Max offer price $169,000

Occupancy floor 82%

Sensitivity live

Price	-10% $528	-5% $480	+0% $432	+5% $384	+10% $337
Rent	-10% $172	-5% $302	+0% $432	+5% $562	+10% $692
Rate	-1.0pp $517	-0.5pp $475	base $432	+0.5pp $389	+1.0pp $344

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $600 · $7,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-22
   days on market $169,000 Active 326 DOM
2. 2026-06-18
   days on market $169,000 Active 323 DOM
3. 2026-06-17
   days on market $169,000 Active 322 DOM
4. 2026-06-16
   days on market $169,000 Active 321 DOM
5. 2026-06-15
   days on market $169,000 Active 320 DOM
6. 2026-06-13
   days on market $169,000 Active 318 DOM
7. 2026-06-09
   days on market $169,000 Active 314 DOM
8. 2026-06-08
   days on market $169,000 Active 313 DOM
9. 2026-06-08
   days on market $169,000 Active 312 DOM
10. 2026-06-04
    days on market $169,000 Active 309 DOM
11. 2026-06-03
    days on market $169,000 Active 308 DOM
12. 2026-06-02
    days on market $169,000 Active 307 DOM
13. 2026-06-01
    days on market $169,000 Active 306 DOM
14. 2026-05-31
    days on market $169,000 Active 305 DOM
15. 2025-08-15
    historical $1,699
16. 2025-07-30
    listed $169,000 Active
17. 2025-06-24
    listed $1,699
18. 2016-10-14
    soldstatus $61,000
19. 2016-07-11
    soldstatus $58,800
20. 2016-07-05
    soldstatus $58,750 Sold 176-char remark

    Show marketing remark (176 chars)

    Spacious 1 bedroom 1.5 bathroom, centrally located to I-95, shopping centers, schools, hospitals, Aventura Mall and the beautiful Miami Beaches. Excellent Purchase Opportunity!

21. 2016-04-07
    status Pending 176-char remark

    Show marketing remark (176 chars)

    Spacious 1 bedroom 1.5 bathroom, centrally located to I-95, shopping centers, schools, hospitals, Aventura Mall and the beautiful Miami Beaches. Excellent Purchase Opportunity!

22. 2016-03-31
    listed $59,900 Active 176-char remark

    Show marketing remark (176 chars)

    Spacious 1 bedroom 1.5 bathroom, centrally located to I-95, shopping centers, schools, hospitals, Aventura Mall and the beautiful Miami Beaches. Excellent Purchase Opportunity!

23. 2015-08-24
    historical
24. 2015-06-22
    listed $80,000 Active
25. 2014-01-15
    historical
26. 2014-01-14
    status Active
27. 2004-05-13
    soldstatus $78,500

ⓘ 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: $2,193 · $183/mo
• Projected year-2 tax: $2,193 · $183/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 5/10 Major FEMA zone AE · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,468
• − Mortgage interest: −$9,467
• − Property taxes: −$2,193
• − Insurance: −$5,964
• − Repairs & maintenance: −$3,157
• − Management: −$3,157
• − HOA: −$7,200
• − Depreciation: −$4,916
• Taxable income: $3,413
• Est. tax owed @ 24.0%: −$819
• After-tax cash flow: $4,369/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 — Ojus

• Score: 83/100
• State rank: #58
• US rank: #1031

Category grades

Amenities F Commute A+ Cost of living A Crime B+ Employment C Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ojus, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 51,591
• Household income: $65,211
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 3123.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Black 39% Hispanic / Latino 38% Two or more races 23% White 19% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 6% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 13% Scotch-Irish 2% Romanian 2%
• Foreign-born: 48% · Canada, Jamaica, Dominican Republic
• Languages at home: 42% English-only · Spanish 37% French/Haitian/Cajun 13% Other Indo-European 2%

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: ▼ -608.34%
• Current HPI: 328.1733
• Rent YoY: ▲ 0.22%
• 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

-97.8% since first listed

13 events — show timeline

• 2025-08-15 Rental Removed $1,699 MARMLS
• 2025-07-30 Listed $169,000 MARMLS
• 2025-06-24 Listed for Rent $1,699 MARMLS
• 2016-10-14 Sold (Public Records) $61,000 Public Records
• 2016-07-11 Sold (Public Records) $58,800 Public Records
• 2016-07-05 Sold (MLS) $58,750 MARMLS
• 2016-04-07 Pending — MARMLS
• 2016-03-31 Listed $59,900 MARMLS
• 2015-08-24 Listing Removed — MARMLS
• 2015-06-22 Listed $80,000 MARMLS
• 2014-01-15 Listing Removed — MARMLS
• 2014-01-14 Relisted — MARMLS
• 2004-05-13 Sold (Public Records) $78,500 Public Records

Property tax history

+8.8%/yr

Latest (2025): $2,193 · +3.2% YoY. Source: county tax records.