8451 NW 4th Ave #8451 · West Little River, FL 33150

$225,000

3 bd · 2.0 ba · 1,150 sqft · Condo public records · 5 Days on market

Built 1958 $310/mo HOA · 13% of rent

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Why this score? — see what drove the D+ 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 +16.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• DSCR +5.2/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is an investor's dream come true! With 3 bedrooms, 2 bathrooms, and no rental restrictions, you can start earning rental income right away. Plus, its convenient location just 15 minutes away from Wynwood, beaches, and the vibrant Miami lifestyle makes it an ideal investment opportunity.

Key facts

• Conveniently located
• $310 HOA
• 2 parking spots

Tags

• DURABLE TILE FLOORING
• INVESTMENT OPPORTUNITY
• CONVENIENTLY LOCATED

Property features AI

Finance

• HOA & community: Monthly HOA fee of $310; HOA includes insurance and common area upkeep; Community clubhouse

Exterior

• Home design: Condominium; 2 stories; Resale property
• Construction: Block construction
• Exterior features: Not waterfront

Interior

• Kitchen: Disposal, Dishwasher, Refrigerator
• Bedrooms: No main-level bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Disposal; Dishwasher; Refrigerator; Tile flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $-5 ($-58/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (0.4% below list).
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $224k (0.4% below list) — sets the bar for cash-flow.
• Cap rate 7.1% vs local median 3.8% in West Little River — 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 79/100 on livability (#152 in FL, #2,286 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, employment D-.
• 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: Jesse J. Mccrary Jr. Elementary School (math 31% / reading 30%, grade F, #1,862 of 2,144 statewide, top 88%, 376 students, 72% FRL); Horace Mann Middle School (math 23% / reading 31%, grade F, #497 of 571 statewide, top 88%, 528 students, 76% FRL); Miami Edison Senior High School (math 19% / reading 15%, grade F, #597 of 667 statewide, top 90%, 623 students, 72% FRL).
• Zoned-school proficiency averages 25% at this address vs 50% district-wide (-25 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.8%/yr); 182 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 $2,474/mo this rent would consume 73% of the median local household income ($41k/yr) (locally 2384% 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AH (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 $224,141 (0.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1958 — 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.10% ✓
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• GRM: 7.6

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: -20.7%
• Equity multiple: 0.31×
• Total profit: $-43,735
• Equity at exit: $33,548

10-year hold

• IRR: -26.0%
• Equity multiple: -0.04×
• Total profit: $-65,344
• 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 33150

• Rents YoY: -0.8%
• Active inventory: 182
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,474 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$224 /mo · $2,687/yr
• Insurance: −$94
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$310
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $-5

Break-even live

Break-even rent $2,481

Max offer price $224,141

Occupancy floor 95%

Sensitivity live

Price	-10% $123	-5% $59	+0% $-5	+5% $-69	+10% $-132
Rent	-10% $-200	-5% $-103	+0% $-5	+5% $93	+10% $191
Rate	-1.0pp $108	-0.5pp $52	base $-5	+0.5pp $-63	+1.0pp $-122

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: $310 · $3,720/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $225,000 Active 5 DOM
2. 2026-06-18
   days on market $225,000 Active 2 DOM
3. 2026-06-17
   days on marketlisting id $225,000 Active 1 DOM
4. 2026-06-13
   days on market $225,000 Active 94 DOM
5. 2026-06-09
   days on market $225,000 Active 90 DOM
6. 2026-06-08
   days on market $225,000 Active 89 DOM
7. 2026-06-07
   days on market $225,000 Active 88 DOM
8. 2026-06-04
   days on market $225,000 Active 85 DOM
9. 2026-06-03
   days on market $225,000 Active 84 DOM
10. 2026-06-02
    days on market $225,000 Active 83 DOM
11. 2026-06-01
    days on market $225,000 Active 82 DOM
12. 2026-05-31
    days on market $225,000 Active 81 DOM
13. 2025-08-13
    listed $225,000 Active
14. 2023-11-11
    historical $2,550
15. 2023-11-03
    price $2,550
16. 2023-10-12
    listed $2,600
17. 2023-05-10
    soldstatus $202,000
18. 2023-04-28
    soldstatus $202,000 Closed 301-char remark

    Show marketing remark (301 chars)

    This property is an investor's dream come true! With 3 bedrooms, 2 bathrooms, and no rental restrictions, you can start earning rental income right away. Plus, its convenient location just 15 minutes away from Wynwood, beaches, and the vibrant Miami lifestyle makes it an ideal investment opportunity.

19. 2023-03-23
    historical Active Under Contract 301-char remark

    Show marketing remark (301 chars)

    This property is an investor's dream come true! With 3 bedrooms, 2 bathrooms, and no rental restrictions, you can start earning rental income right away. Plus, its convenient location just 15 minutes away from Wynwood, beaches, and the vibrant Miami lifestyle makes it an ideal investment opportunity.

20. 2023-03-22
    status Active 301-char remark

    Show marketing remark (301 chars)

    This property is an investor's dream come true! With 3 bedrooms, 2 bathrooms, and no rental restrictions, you can start earning rental income right away. Plus, its convenient location just 15 minutes away from Wynwood, beaches, and the vibrant Miami lifestyle makes it an ideal investment opportunity.

21. 2023-03-15
    historical Active Under Contract 301-char remark

    Show marketing remark (301 chars)

    This property is an investor's dream come true! With 3 bedrooms, 2 bathrooms, and no rental restrictions, you can start earning rental income right away. Plus, its convenient location just 15 minutes away from Wynwood, beaches, and the vibrant Miami lifestyle makes it an ideal investment opportunity.

22. 2023-03-08
    listed $200,000 Active 301-char remark

    Show marketing remark (301 chars)

    This property is an investor's dream come true! With 3 bedrooms, 2 bathrooms, and no rental restrictions, you can start earning rental income right away. Plus, its convenient location just 15 minutes away from Wynwood, beaches, and the vibrant Miami lifestyle makes it an ideal investment opportunity.

ⓘ 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: $2,687 · $224/mo
• Projected year-2 tax: $2,687 · $224/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 8/10 Severe FEMA zone AH · 97% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,693
• − Mortgage interest: −$12,603
• − Property taxes: −$2,687
• − Insurance: −$2,950
• − Repairs & maintenance: −$2,375
• − Management: −$2,375
• − HOA: −$3,720
• − Depreciation: −$6,545
• Taxable loss: −$3,564
• Est. tax savings @ 24.0%: +$855
• After-tax cash flow: $797/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 — West Little River

• Score: 79/100
• State rank: #152
• US rank: #2286

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Little River, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 81,393
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 30,974
• Household income: $40,873
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 2384.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% Hispanic / Latino 30% Two or more races 13% White 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 7% Dominican 2%
• Common ancestry: Hispanic 27%
• Foreign-born: 42% · Canada, Jamaica
• Languages at home: 42% English-only · Spanish 30% French/Haitian/Cajun 27% Other Indo-European 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: ▼ -359.01%
• Current HPI: 552.392
• Rent YoY: ▼ -0.78%
• 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

+12.5% since first listed

10 events — show timeline

• 2025-08-13 Listed $225,000 Beaches MLS
• 2023-11-11 Rental Removed $2,550 MARMLS
• 2023-11-03 Price Changed $2,550 MARMLS
• 2023-10-12 Listed for Rent $2,600 MARMLS
• 2023-05-10 Sold (Public Records) $202,000 Public Records
• 2023-04-28 Sold (MLS) $202,000 MARMLS
• 2023-03-23 Contingent — MARMLS
• 2023-03-22 Relisted — MARMLS
• 2023-03-15 Contingent — MARMLS
• 2023-03-08 Listed $200,000 MARMLS

Property tax history

+15.3%/yr

Latest (2025): $2,687 · -0.1% YoY. Source: county tax records.