1800 NW 24th Ave #415 · Miami, FL 33125

$249,000

2 bd · 1.0 ba · 767 sqft · Condo public records · 76 Days on market

Built 1974 $545/mo HOA · 13% of rent

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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 +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into this beautiful 2-bedroom, 1 1/2-bathroom condominium nestled in the vibrant heart of Miami. This exquisite unit offers a perfect fusion of modern design and everyday convenience, making it an ideal choice for both homeowners and investors alike. Right across the street, you’ll find a delightful children’s park, while the surrounding marina offers fantastic opportunities for boating enthusiasts. With its prime location, you’ll enjoy quick access to major highways, shopping hubs, and a diverse array of dining options. This condo is not just a place to live; it's a lifestyle. Don’t miss your chance to own this exceptional property in one of Miami’s most

Key facts

• Shopping hubs
• Surrounding marina
• $545 HOA

Tags

• SURROUNDING MARINA
• QUICK ACCESS TO MAJOR HIGHWAYS
• SHOPPING HUBS

Property features AI

Finance

• Other: Association pool
• Financial info: Pets allowed (yes) with size limit up to 20 lbs
• HOA & community: Monthly association fee of $545; HOA includes amenities, parking, pools, roof, sewer, trash and water; Association amenities: Pool, Elevator(s)

Exterior

• Parking: Secured garage/parking; 1 covered garage space
• Security: Security guard
• Utilities: Association-managed water and sewer
• Home design: Condominium (attached); 10-story building; Entry located on level 4; Resale unit
• Construction: Block construction
• Exterior features: Balcony; Open balcony/porch

Interior

• Kitchen: Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Elevator; Walk-in closet(s); Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $249k).
• Recommended offer: $234k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 soft (-1.4%/yr); 241 active listings in the ZIP; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,042/mo this rent would consume 108% of the median local household income ($45k/yr) (locally 5223% 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 76 days — a 6% lower offer ($234k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y 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 $58k; list at $249k implies a 329% 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 — expect insurance premiums to compound above CPI over the hold.

Recommended offer $234,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.62% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.73%
• DSCR: 1.74
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.76×
• Total profit: $-16,810
• Equity at exit: $37,127

10-year hold

• IRR: -3.5%
• Equity multiple: 0.81×
• Total profit: $-13,106
• Equity at exit: $21,529

Cash invested: $69,720 (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 33125

• Rents YoY: -1.4%
• Active inventory: 241
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $4,042 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$267 /mo · $3,201/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$545
• Vacancy / Maint / Mgmt: −$849
• Net cashflow: $546

Break-even live

Break-even rent $3,352

Max offer price $249,000

Occupancy floor 82%

Sensitivity live

Price	-10% $687	-5% $616	+0% $546	+5% $475	+10% $405
Rent	-10% $226	-5% $386	+0% $546	+5% $705	+10% $865
Rate	-1.0pp $671	-0.5pp $609	base $546	+0.5pp $481	+1.0pp $416

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $545 · $6,540/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $249,000 Active 76 DOM
2. 2026-06-18
   days on market $249,000 Active 73 DOM
3. 2026-06-17
   days on market $249,000 Active 72 DOM
4. 2026-06-16
   days on market $249,000 Active 71 DOM
5. 2026-06-15
   days on market $249,000 Active 70 DOM
6. 2026-06-13
   days on market $249,000 Active 68 DOM
7. 2026-06-09
   days on market $249,000 Active 64 DOM
8. 2026-06-08
   days on market $249,000 Active 63 DOM
9. 2026-06-07
   days on market $249,000 Active 62 DOM
10. 2026-06-04
    days on market $249,000 Active 59 DOM
11. 2026-06-03
    days on market $249,000 Active 58 DOM
12. 2026-06-02
    days on market $249,000 Active 57 DOM
13. 2026-06-01
    days on market $249,000 Active 56 DOM
14. 2026-05-31
    days on market $249,000 Active 55 DOM
15. 2026-04-06
    listed $249,000 Active
16. 2025-04-29
    historical $2,400
17. 2025-04-19
    listed $2,400
18. 2024-12-09
    historical $2,400
19. 2024-12-08
    listed $2,400
20. 2024-10-08
    historical $2,400
21. 2024-10-08
    listed $2,400
22. 2024-08-10
    historical $2,400
23. 2024-08-10
    listed $2,400
24. 2024-06-12
    historical $2,400
25. 2024-05-15
    price $2,400
26. 2024-05-07
    listed $2,500
27. 2024-05-02
    historical
28. 2024-02-21
    listed $340,000 Active
29. 2002-05-01
    soldstatus $58,000
30. 1974-03-01
    soldstatus $26,900

ⓘ 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: $3,201 · $267/mo
• Projected year-2 tax: $3,201 · $267/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 💨 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: $48,509
• − Mortgage interest: −$13,948
• − Property taxes: −$3,201
• − Insurance: −$6,364
• − Repairs & maintenance: −$3,881
• − Management: −$3,881
• − HOA: −$6,540
• − Depreciation: −$7,244
• Taxable income: $3,452
• Est. tax owed @ 24.0%: −$828
• After-tax cash flow: $5,720/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): 56,897
• Household income: $44,979
• Rent vs Own: 74.0% rent · 26.0% own
• Severe rent burden: 5223.0

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 (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 52% White 4% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 46% Dominican 3% Salvadoran 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 68% · Canada, Jamaica, Dominican Republic
• Languages at home: 9% English-only · Spanish 90%

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: ▼ -402.98%
• Current HPI: 476.1631
• Rent YoY: ▼ -1.39%
• 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

+825.7% since first listed

16 events — show timeline

• 2026-04-06 Listed $249,000 MARMLS
• 2025-04-29 Rental Removed $2,400 MARMLS
• 2025-04-19 Listed for Rent $2,400 MARMLS
• 2024-12-09 Rental Removed $2,400 MARMLS
• 2024-12-08 Listed for Rent $2,400 MARMLS
• 2024-10-08 Rental Removed $2,400 MARMLS
• 2024-10-08 Listed for Rent $2,400 MARMLS
• 2024-08-10 Rental Removed $2,400 MARMLS
• 2024-08-10 Listed for Rent $2,400 MARMLS
• 2024-06-12 Rental Removed $2,400 MARMLS
• 2024-05-15 Price Changed $2,400 MARMLS
• 2024-05-07 Listed for Rent $2,500 MARMLS
• 2024-05-02 Listing Removed — MARMLS
• 2024-02-21 Listed $340,000 MARMLS
• 2002-05-01 Sold (Public Records) $58,000 Public Records
• 1974-03-01 Sold (Public Records) $26,900 Public Records

Property tax history

+15.0%/yr

Latest (2025): $3,201 · +7.8% YoY. Source: county tax records.