325 S Biscayne Blvd #2824 · Miami, FL 33131

$429,000

1 bd · 1.0 ba · 846 sqft · Condo public records · 13 Days on market

Built 2005 $867/mo HOA · 20% 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 +7.7/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.2/10.0
• Appreciation +4.0/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0

Listing remarks MLS

PRICED TO SELL!!!!! THIS UNIT FEATURES PORCELAIN FLOORS THROUGHOUT, GRANITE COUNTER TOPS AND VIEWS OF DOWNTOWN AND THE BAY! BRAND NEW AC UNIT REPLACED JULY 2017. THIS BUILDING HAS TWO SWIMMING POOLS, STATE OF THE ART GYMS AND IS STEPS TO LOTS OF FINE DINING OPTIONS AND SHOPS. PLEASE CALL LA FOR MORE INFO. THIS UNIT IS TENANT OCCUPIED UNTIL AUGUST 2018.

Key facts

• Resort-style pools
• Private balcony
• Granite countertops

Tags

• PRIVATE BALCONY
• GRANITE COUNTERTOPS
• STAINLESS STEEL DOUBLE SINK
• ENERGY-EFFICIENT APPLIANCES
• IMPORTED TILE BATHROOMS
• RESORT-STYLE POOLS

Property features AI

Finance

• Other: Association pool is heated
• Financial info: Pets allowed; Property is part of a senior community
• HOA & community: Monthly association fee; Association amenities include clubhouse, fitness center, pool, storage and elevators; Association covers management, amenities, common areas, legal/accounting, grounds and structure maintenance, parking, pools, recreation facilities, roof, sewer, security, trash and water; Association fee amount provided

Exterior

• Parking: One parking space; Valet parking; Secured garage/parking
• Security: Secured elevator; Secured lobby
• Utilities: Association-managed water and sewer (included in association services); Standard electric service
• Home design: Condo in a 32-story building; Entry on level 28; Bayfront with water view; Attached property
• Construction: Block construction
• Exterior features: Balcony; Deck; Barbecue; Open patio/porch

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Disposal
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Elevator
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $429k.

Deal economics

• At list price, monthly cash flow is $-491 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $342k (20.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $426k (0.8% below list).
• Recommended offer: $342k (20.2% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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.
• Zoned schools: Frederick R. Douglass Elementary (math 12% / reading 22%, grade F, #2,121 of 2,144 statewide, top 99%, 221 students, 76% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 68% FRL track the district average.
• Zoned-school proficiency averages 18% at this address vs 50% district-wide (-31 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 rising (+2.0%/yr); 1019 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 35% of the median local income ($144k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $3k of loan paydown is wiped out by about $9k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $270k; list at $429k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $342,265 (20.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.99% ✗
• Cap rate: 4.92%
• Cash-on-cash: -4.90%
• DSCR: 0.78
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.09% appreciation · 2.04% rent growth · sell at horizon

5-year hold

• IRR: -19.3%
• Equity multiple: 0.27×
• Total profit: $-87,783
• Equity at exit: $81,482

10-year hold

• IRR: -14.2%
• Equity multiple: 0.03×
• Total profit: $-116,002
• Equity at exit: $67,892

Cash invested: $120,120 (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 33131

• Home prices YoY: -0.7%
• Rents YoY: 2.0%
• Active inventory: 1019
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $4,255 medium
• Mortgage (P&I): −$2,250
• Tax from tax record: −$557 /mo · $6,684/yr
• Insurance: −$179
• HOA: −$867
• Vacancy / Maint / Mgmt: −$894
• Net cashflow: $-491

Break-even live

Break-even rent $4,877

Max offer price $342,265

Occupancy floor —

Sensitivity live

Price	-10% $-248	-5% $-370	+0% $-491	+5% $-612	+10% $-734
Rent	-10% $-827	-5% $-659	+0% $-491	+5% $-323	+10% $-155
Rate	-1.0pp $-275	-0.5pp $-382	base $-491	+0.5pp $-602	+1.0pp $-715

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 NE 1st Ave Unit 1227496P Miami, FL	3.0	1.0–3.0	904	$8,354	$9.24	0d	4	0.72mi

HOA detail condo

• Monthly dues: $867 · $10,404/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-21
   days on market $429,000 Active 13 DOM
2. 2026-06-18
   days on market $429,000 Active 10 DOM
3. 2026-06-17
   days on market $429,000 Active 9 DOM
4. 2026-06-16
   days on market $429,000 Active 8 DOM
5. 2026-06-15
   days on market $429,000 Active 7 DOM
6. 2026-06-13
   days on market $429,000 Active 5 DOM
7. 2026-06-08
   remarks 699-char remark
8. 2026-06-08
   listed $429,000 Active 1 DOM

ⓘ 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: $6,684 · $557/mo
• Projected year-2 tax: $6,684 · $557/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: $51,061
• − Mortgage interest: −$24,031
• − Property taxes: −$6,684
• − Insurance: −$2,145
• − Repairs & maintenance: −$4,085
• − Management: −$4,085
• − HOA: −$10,404
• − Depreciation: −$12,480
• Taxable loss: −$12,853
• Est. tax savings @ 24.0%: +$3,085
• After-tax cash flow: $-2,807/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): 23,095
• Household income: $144,138
• Rent vs Own: 63.0% rent · 37.0% own
• Severe rent burden: 1866.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 52% Two or more races 35% White 33% Asian 4% Black 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1% Salvadoran 3%
• Common ancestry: Romanian 2% Scotch-Irish 2% Estonian 2%
• Foreign-born: 54% · Canada, Jamaica, Dominican Republic
• Languages at home: 30% English-only · Spanish 53% Other Indo-European 6% French/Haitian/Cajun 4%

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: ▼ -2.09%
• Current HPI: 281.1156
• Rent YoY: ▲ 2.04%
• 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

+108.3% since first listed

11 events — show timeline

• 2026-06-08 Listed $429,000 MARMLS
• 2023-09-21 Rental Removed $2,490 MARMLS
• 2023-09-20 Price Changed $2,490 MARMLS
• 2023-09-04 Listed for Rent $2,890 MARMLS
• 2018-05-07 Sold (Public Records) $270,000 Public Records
• 2018-04-30 Sold (MLS) $270,000 MARMLS
• 2018-04-08 Pending — MARMLS
• 2018-03-07 Price Changed $290,000 MARMLS
• 2018-01-24 Listed $299,000 MARMLS
• 2009-02-03 Sold (Public Records) $206,000 Public Records
• 2009-01-30 Sold (MLS) $206,000 MARMLS

Property tax history

+4.6%/yr

Latest (2025): $6,684 · +3.8% YoY. Source: county tax records.