650 NE 149th St Unit 406A · Golden Glades, FL 33161

$132,000

2 bd · 1.0 ba · 860 sqft · Condo public records · 119 Days on market

Built 1982 $900/mo HOA · 24% 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 +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

NEW PRICE! This solid unit at Victory Gardens is perfect for savvy investors or buyers with a flexible timeline. Enjoy an airy, open-concept living space that flows directly onto your private balcony. Key upgrades include a newer A/C and water heater, plus easy-to-maintain tile flooring. Located in a secure newly renovated building with gated parking and expansive green space for exercise and relaxation.

Key facts

• Brand-new a/c
• Secure building
• Newer water heater

Tags

• PRIVATELY SCREENED BALCONY
• CLEAR VIEW OF THE POOL
• NEWER WATER HEATER
• TILE FLOORING
• BRAND-NEW A/C
• SECURE BUILDING

Property features AI

Finance

• Other: Association pool
• Financial info: Pets allowed with possible restrictions (conditional)
• HOA & community: Monthly association fee; Association amenities include pool and common-area maintenance; Association covers management, amenities, common areas, laundry facilities, grounds and structure maintenance, parking, pool(s), sewer and water

Exterior

• Parking: One assigned space; On-street parking available
• Security: Closed-circuit cameras; Phone entry
• Utilities: Public water; Public sewer; Electric service
• Home design: 5-story building; Property attached (unit in a multi-unit building); Entry on level 4
• Construction: Block construction; Effective year built
• Exterior features: Courtyard; Fenced complex; Patio

Interior

• Kitchen: Dishwasher; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Tub shower; Ceramic tile flooring
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $132k.

Deal economics

• At list price, monthly cash flow is $668 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $132k).
• Recommended offer: $120k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 3.5% in Golden Glades — 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 74/100 on livability (#281 in FL, #4,513 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B+, health & safety B+; Watch: employment D, 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.
• Market conditions: Rents soft (-0.7%/yr); 338 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,698/mo this rent would consume 76% of the median local household income ($58k/yr) (locally 3226% 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 $913 of loan paydown is wiped out by about $4k 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 119 days — a 9% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $18k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $132k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 24% of rent.
• 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,120 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
8. 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.
9. 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: 2.80% ✓
• Cap rate: 16.25%
• Cash-on-cash: 35.55%
• DSCR: 2.58
• GRM: 3.0

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: 8.3%
• Equity multiple: 1.30×
• Total profit: $11,228
• Equity at exit: $19,682

10-year hold

• IRR: 12.1%
• Equity multiple: 1.71×
• Total profit: $26,289
• Equity at exit: $11,413

Cash invested: $36,960 (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 33161

• Rents YoY: -0.7%
• Active inventory: 338
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $3,698 medium
• Mortgage (P&I): −$692
• Tax from tax record: −$179 /mo · $2,154/yr
• Insurance: −$55
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$900
• Vacancy / Maint / Mgmt: −$777
• Net cashflow: $668

Break-even live

Break-even rent $2,852

Max offer price $132,000

Occupancy floor 77%

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $900 · $10,800/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-18
   days on market $132,000 Active 119 DOM
2. 2026-06-17
   days on market $132,000 Active 118 DOM
3. 2026-06-16
   days on market $132,000 Active 117 DOM
4. 2026-06-15
   days on market $132,000 Active 116 DOM
5. 2026-06-13
   days on market $132,000 Active 114 DOM
6. 2026-06-09
   days on market $132,000 Active 110 DOM
7. 2026-06-08
   days on market $132,000 Active 109 DOM
8. 2026-06-07
   days on market $132,000 Active 108 DOM
9. 2026-06-04
   days on market $132,000 Active 105 DOM
10. 2026-06-03
    days on market $132,000 Active 104 DOM
11. 2026-06-02
    days on market $132,000 Active 103 DOM
12. 2026-06-01
    days on market $132,000 Active 102 DOM
13. 2026-05-31
    days on market $132,000 Active 101 DOM
14. 2026-04-24
    price $132,000
15. 2026-03-15
    price $139,000
16. 2026-02-19
    listed $150,000 Active
17. 2025-12-31
    historical
18. 2025-09-09
    status Active
19. 2025-08-07
    historical Active Under Contract
20. 2025-06-14
    listed $150,000 Active
21. 2025-03-06
    historical
22. 2024-12-30
    historical $1,800
23. 2024-12-18
    listed $1,800
24. 2024-12-17
    listed $160,000 Active
25. 2024-12-10
    historical $1,900
26. 2024-11-14
    price $1,900
27. 2024-10-23
    listed $1,800
28. 2024-09-27
    historical $1,800
29. 2024-09-21
    listed $1,800
30. 2002-12-30
    soldstatus $50,000
31. 1987-10-23
    soldstatus $32,000
32. 1983-07-01
    soldstatus $61,500

ⓘ 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: $2,154 · $179/mo
• Projected year-2 tax: $2,154 · $179/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 · 29 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

Taxation est. · year 1

• Rental income: $44,381
• − Mortgage interest: −$7,394
• − Property taxes: −$2,154
• − Insurance: −$5,778
• − Repairs & maintenance: −$3,550
• − Management: −$3,550
• − HOA: −$10,800
• − Depreciation: −$3,840
• Taxable income: $7,314
• Est. tax owed @ 24.0%: −$1,755
• After-tax cash flow: $6,267/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 — Golden Glades

• Score: 74/100
• State rank: #281
• US rank: #4513

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Golden Glades, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

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 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% 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: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• 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

+114.6% since first listed

19 events — show timeline

• 2026-04-24 Price Changed $132,000 MARMLS
• 2026-03-15 Price Changed $139,000 MARMLS
• 2026-02-19 Listed $150,000 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-09-09 Relisted — MARMLS
• 2025-08-07 Contingent — MARMLS
• 2025-06-14 Listed $150,000 MARMLS
• 2025-03-06 Listing Removed — MARMLS
• 2024-12-30 Rental Removed $1,800 MARMLS
• 2024-12-18 Listed for Rent $1,800 MARMLS
• 2024-12-17 Listed $160,000 MARMLS
• 2024-12-10 Rental Removed $1,900 MARMLS
• 2024-11-14 Price Changed $1,900 MARMLS
• 2024-10-23 Listed for Rent $1,800 MARMLS
• 2024-09-27 Rental Removed $1,800 MARMLS
• 2024-09-21 Listed for Rent $1,800 MARMLS
• 2002-12-30 Sold (Public Records) $50,000 Public Records
• 1987-10-23 Sold (Public Records) $32,000 Public Records
• 1983-07-01 Sold (Public Records) $61,500 Public Records

Property tax history

+7.8%/yr

Latest (2025): $2,154 · -5.1% YoY. Source: county tax records.