1301 NE 191st St Unit F405 · Ojus, FL 33179

$199,900

2 bd · 2.0 ba · 1,156 sqft · Condo public records · 117 Days on market

Built 1970 $718/mo HOA · 21% 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 +27.5/30.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• 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

SPACIOUS AND WELL-DESIGNED 2-BEDROOM, 2-BATHROOM CONDO IN A 55+ COMMUNITY IN Miami. THIS RESIDENCE FEATURES AN EXCELLENT, FUNCTIONAL LAYOUT WITH GENEROUS LIVING AND DINING AREAS, ABUNDANT NATURAL LIGHT, AND A SPLIT-BEDROOM FLOOR PLAN FOR ADDED PRIVACY. THE PRIMARY SUITE OFFERS A PRIVATE BATH AND AMPLE CLOSET SPACE. SECOND BEDROOM AND FULL BATH ARE IDEAL FOR GUESTS OR A HOME OFFICE. CONVENIENTLY LOCATED NEAR AVENTURA MALL, RESTAURANTS, GROCERY STORES, MEDICAL FACILITIES, AND WITH EASY ACCESS TO MAJOR HIGHWAYS. SELLER HAS NEVER OCCUPIED THE PROPERTY. NO SELLER DISCLOSURE AVAILABLE. BUYER AND BUYER’S AGENT MUST VERIFY ALL PROPERTY INFORMATION, INCLUDING HOA DETAILS, FEES, RULES, RESTRICT

Key facts

• Private bath
• Ample closet space
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• GENEROUS LIVING AREAS
• ABUNDANT NATURAL LIGHT
• SPLIT-BEDROOM FLOOR PLAN
• PRIVATE BATH
• AMPLE CLOSET SPACE

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions
• HOA & community: Monthly association fee of $718; HOA covers common areas, structural maintenance, parking, pool(s), reserve fund, roof, trash and water; Association amenities include a pool

Exterior

• Parking: Two or more parking spaces; Association-managed parking
• Home design: Condo/attached property; 4-story building; Entry on 4th level
• Construction: Block construction; Resale property
• Exterior features: Enclosed porch; Porch with screened area; Association pool

Interior

• Kitchen: Electric range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Elevator; Split bedrooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.

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: schools 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 flat; 574 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,421/mo this rent would consume 63% 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 $6k 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 117 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $200k implies a 349% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $181,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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 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?
8. 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.
9. 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.
10. 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: 1.71% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.70%
• DSCR: 1.56
• GRM: 4.9

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-3,482
• Equity at exit: $29,806

10-year hold

• IRR: 3.4%
• Equity multiple: 1.20×
• Total profit: $11,430
• Equity at exit: $17,284

Cash invested: $55,972 (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: 574
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $3,421 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$261 /mo · $3,131/yr
• Insurance: −$83
• HOA: −$718
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $592

Break-even live

Break-even rent $2,671

Max offer price $199,900

Occupancy floor 78%

Sensitivity live

Price	-10% $705	-5% $649	+0% $592	+5% $536	+10% $479
Rent	-10% $322	-5% $457	+0% $592	+5% $727	+10% $863
Rate	-1.0pp $693	-0.5pp $643	base $592	+0.5pp $540	+1.0pp $488

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $718 · $8,616/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-21
   days on market $199,900 Active 117 DOM
2. 2026-06-18
   days on market $199,900 Active 114 DOM
3. 2026-06-17
   days on market $199,900 Active 113 DOM
4. 2026-06-16
   days on market $199,900 Active 112 DOM
5. 2026-06-15
   days on market $199,900 Active 111 DOM
6. 2026-06-13
   days on market $199,900 Active 109 DOM
7. 2026-06-09
   days on market $199,900 Active 105 DOM
8. 2026-06-08
   days on market $199,900 Active 104 DOM
9. 2026-06-07
   days on market $199,900 Active 103 DOM
10. 2026-06-04
    days on market $199,900 Active 100 DOM
11. 2026-06-03
    days on market $199,900 Active 99 DOM
12. 2026-06-02
    days on market $199,900 Active 98 DOM
13. 2026-06-01
    days on market $199,900 Active 97 DOM
14. 2026-05-31
    days on market $199,900 Active 96 DOM
15. 2026-05-19
    price $199,900
16. 2026-05-18
    price $209,900
17. 2026-02-24
    listed $229,999 Active
18. 2025-11-23
    historical $2,500
19. 2025-10-23
    listed $2,500
20. 2025-09-01
    historical $2,500
21. 2025-08-31
    historical
22. 2025-07-16
    price $199,900
23. 2025-07-10
    listed $2,500
24. 2025-06-04
    price $214,900
25. 2025-05-02
    price $215,000
26. 2025-04-04
    price $215,500
27. 2025-03-25
    price $216,000
28. 2025-02-20
    price $216,500
29. 2025-02-12
    price $217,000
30. 2025-02-10
    price $217,500
31. 2025-01-24
    price $218,000
32. 2025-01-21
    price $218,500
33. 2025-01-20
    price $218,700
34. 2025-01-19
    price $218,800
35. 2025-01-09
    price $218,900
36. 2024-12-17
    listed $219,000 Active
37. 1996-08-12
    soldstatus $44,500

ⓘ 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: $3,131 · $261/mo
• Projected year-2 tax: $3,131 · $261/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $41,054
• − Mortgage interest: −$11,198
• − Property taxes: −$3,131
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,284
• − Management: −$3,284
• − HOA: −$8,616
• − Depreciation: −$5,815
• Taxable income: $4,727
• Est. tax owed @ 24.0%: −$1,134
• After-tax cash flow: $5,973/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

+349.2% since first listed

23 events — show timeline

• 2026-05-19 Price Changed $199,900 MARMLS
• 2026-05-18 Price Changed $209,900 MARMLS
• 2026-02-24 Listed $229,999 MARMLS
• 2025-11-23 Rental Removed $2,500 Avail
• 2025-10-23 Listed for Rent $2,500 Avail
• 2025-09-01 Rental Removed $2,500 MARMLS
• 2025-08-31 Listing Removed — MARMLS
• 2025-07-16 Price Changed $199,900 MARMLS
• 2025-07-10 Listed for Rent $2,500 MARMLS
• 2025-06-04 Price Changed $214,900 MARMLS
• 2025-05-02 Price Changed $215,000 MARMLS
• 2025-04-04 Price Changed $215,500 MARMLS
• 2025-03-25 Price Changed $216,000 MARMLS
• 2025-02-20 Price Changed $216,500 MARMLS
• 2025-02-12 Price Changed $217,000 MARMLS
• 2025-02-10 Price Changed $217,500 MARMLS
• 2025-01-24 Price Changed $218,000 MARMLS
• 2025-01-21 Price Changed $218,500 MARMLS
• 2025-01-20 Price Changed $218,700 MARMLS
• 2025-01-19 Price Changed $218,800 MARMLS
• 2025-01-09 Price Changed $218,900 MARMLS
• 2024-12-17 Listed $219,000 MARMLS
• 1996-08-12 Sold (Public Records) $44,500 Public Records

Property tax history

+17.1%/yr

Latest (2025): $3,131 · +6.9% YoY. Source: county tax records.