15205 NE 6th Ave Unit D212 · Golden Glades, FL 33162

$174,000

2 bd · 2.0 ba · 920 sqft · Condo public records · 334 Days on market

Built 1967 $500/mo HOA · 15% 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 +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully Located 2-Bedroom, 2-Bathroom Condo, Experience comfortable living in this well-located 2-bedroom, 2-bathroom unit at Ola Condominiums. The home features a modern kitchen with unique flooring, central A/C, and a spacious balcony, perfect for relaxing or entertaining. Nestled in a gated community, residents enjoy access to a refreshing pool and a secure environment. Conveniently situated near major shopping centers, malls, highways, and top restaurants, this condo offers both comfort and accessibility

Key facts

• Gated community
• Refreshing pool
• Unique flooring

Tags

• MODERN KITCHEN
• UNIQUE FLOORING
• SPACIOUS BALCONY
• GATED COMMUNITY
• REFRESHING POOL
• SECURE ENVIRONMENT

Property features AI

Finance

• Other: Pets allowed conditionally; restrictions may apply
• HOA & community: Monthly association fee of $500; Association amenities include pool; Association fee covers amenities

Exterior

• Parking: One parking space
• Security: Complex fencing; Smoke detector(s)
• Home design: Attached property; 3 total stories; Entry on second level
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/porch; Association pool; Complex fenced; Smoke detectors

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Second floor entry; Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $174k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $174k).
• Recommended offer: $153k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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 (-1.6%/yr); 286 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,275/mo this rent would consume 65% of the median local household income ($61k/yr) (locally 2509% 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 334 days — a 12% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask is 10319% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $31k; list at $174k implies a 461% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 334 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. 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: 1.88% ✓
• Cap rate: 12.80%
• Cash-on-cash: 23.23%
• DSCR: 2.03
• GRM: 4.4

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-4,313
• Equity at exit: $25,944

10-year hold

• IRR: 1.4%
• Equity multiple: 1.08×
• Total profit: $3,884
• Equity at exit: $15,044

Cash invested: $48,720 (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 33162

• Rents YoY: -1.6%
• Active inventory: 286
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $3,275 medium
• Mortgage (P&I): −$912
• Tax from tax record: −$159 /mo · $1,906/yr
• Insurance: −$72
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$500
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $516

Break-even live

Break-even rent $2,621

Max offer price $174,000

Occupancy floor 79%

Sensitivity live

Price	-10% $615	-5% $566	+0% $516	+5% $467	+10% $418
Rent	-10% $258	-5% $387	+0% $516	+5% $646	+10% $775
Rate	-1.0pp $604	-0.5pp $561	base $516	+0.5pp $471	+1.0pp $426

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: $43,500
• Closing costs: $5,220
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $174,000 Active 334 DOM
2. 2026-06-17
   days on market $174,000 Active 333 DOM
3. 2026-06-16
   days on market $174,000 Active 332 DOM
4. 2026-06-15
   days on market $174,000 Active 331 DOM
5. 2026-06-13
   days on market $174,000 Active 329 DOM
6. 2026-06-09
   days on market $174,000 Active 325 DOM
7. 2026-06-08
   days on market $174,000 Active 324 DOM
8. 2026-06-08
   days on market $174,000 Active 323 DOM
9. 2026-06-04
   days on market $174,000 Active 320 DOM
10. 2026-06-03
    days on market $174,000 Active 319 DOM
11. 2026-06-02
    days on market $174,000 Active 318 DOM
12. 2026-06-01
    days on market $174,000 Active 317 DOM
13. 2026-05-31
    days on market $174,000 Active 316 DOM
14. 2026-04-15
    historical $1,670
15. 2026-04-10
    listed $1,670
16. 2026-03-21
    historical $1,670
17. 2026-02-22
    listed $1,670
18. 2025-12-10
    historical $1,970
19. 2025-11-18
    listed $1,970
20. 2025-07-19
    listed $174,000 Active
21. 2025-06-10
    historical
22. 2025-05-10
    listed $174,000 Active
23. 2025-05-10
    historical
24. 2025-05-01
    historical
25. 2025-03-21
    listed $174,000 Active
26. 2025-03-21
    listed $174,000 Active
27. 2012-04-16
    soldstatus $31,000

ⓘ 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: $1,906 · $159/mo
• Projected year-2 tax: $1,906 · $159/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 · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 27 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: $39,294
• − Mortgage interest: −$9,747
• − Property taxes: −$1,906
• − Insurance: −$5,988
• − Repairs & maintenance: −$3,144
• − Management: −$3,144
• − HOA: −$6,000
• − Depreciation: −$5,062
• Taxable income: $4,304
• Est. tax owed @ 24.0%: −$1,033
• After-tax cash flow: $5,165/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): 46,606
• Household income: $60,692
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 2509.0

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 0.62)
• Race & ethnicity: Black 53% Hispanic / Latino 30% Two or more races 15% White 12% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 3%
• Common ancestry: Hispanic 31% Romanian 1% Scotch-Irish 1%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · French/Haitian/Cajun 35% 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: ▼ -445.57%
• Current HPI: 596.6178
• Rent YoY: ▼ -1.59%
• 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

-94.6% since first listed

14 events — show timeline

• 2026-04-15 Rental Removed $1,670 MARMLS
• 2026-04-10 Listed for Rent $1,670 MARMLS
• 2026-03-21 Rental Removed $1,670 MARMLS
• 2026-02-22 Listed for Rent $1,670 MARMLS
• 2025-12-10 Rental Removed $1,970 MARMLS
• 2025-11-18 Listed for Rent $1,970 MARMLS
• 2025-07-19 Listed $174,000 MARMLS
• 2025-06-10 Listing Removed — MARMLS
• 2025-05-10 Listing Removed — MARMLS
• 2025-05-10 Listed $174,000 MARMLS
• 2025-05-01 Listing Removed — MARMLS
• 2025-03-21 Listed $174,000 MARMLS
• 2025-03-21 Listed $174,000 MARMLS
• 2012-04-16 Sold (MLS) $31,000 MARMLS

Property tax history

+7.6%/yr

Latest (2025): $1,906 · +1.9% YoY. Source: county tax records.