1225 NE 124th St Unit 49C · North Miami, FL 33161

$199,500

2 bd · 1.0 ba · 815 sqft · Condo public records · 49 Days on market

Built 1972 $740/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 +29.2/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

AFFORDABLE , NICE AND COZY APT. FOR SALE JUST MINUTES FROM BISCAYNE BLVD. CLOSE TO EVERYTHING, THE BUILDING IS FEAUTURING A POOL, EXERCISE ROOM, SECURITY SYSTEM, LARGE PARKING LOT, PLENTY OF PARKING SPACE, AND IT IS LOCATED IN VERY QUIET AREA. FROM THE L ARGE BALCONY OF THIS TOP FLOOR CORNER UNIT THE VIEW IS RELAXING AND ENJOYABLE. NOTHING LIKE THIS IN THE AREA, NO RENTAL RESTRICTION, HURRY UP!!!!

Key facts

• $740 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets allowed (yes) with a size limit up to 20 lbs
• HOA & community: Monthly association fee; Association fee includes amenities, common areas, grounds and structure maintenance, parking, pool(s), roof, sewer, trash, and water; Association amenities include laundry, pool, and elevator(s); Community has 51 units

Exterior

• Parking: Attached carport; Covered parking; Attached garage with 1 space
• Security: Complex fenced; Intercom/phone entry; Smoke detector(s)
• Utilities: Cable available
• Home design: Attached property; Faces southwest; Entry on level 4; 4-story building; Exterior lighting
• Construction: Brick construction; Resale property
• Exterior features: Balcony; Screened balcony; Association pool

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Blinds; Unfurnished; Bedroom on main level; First floor entry; Living/dining room; Main level primary; Main living area entry level
• Laundry & utility: Laundry in common area; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $697 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.1% in North 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: 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: W. J. Bryan Elementary (math 28% / reading 40%, grade F, #1,744 of 2,144 statewide, top 82%, 622 students, 75% FRL); North Miami Middle School (math 25% / reading 31%, grade F, #486 of 571 statewide, top 86%, 807 students, 71% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL).
• Zoned-school proficiency averages 27% at this address vs 50% district-wide (-23 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 (-0.7%/yr); 340 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

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 49 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $115k; list at $200k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: moderate flood risk; 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 $193,515 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.77% ✓
• Cap rate: 10.49%
• Cash-on-cash: 14.98%
• DSCR: 1.67
• GRM: 4.7

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: 1.1%
• Equity multiple: 1.04×
• Total profit: $2,230
• Equity at exit: $29,746

10-year hold

• IRR: 6.2%
• Equity multiple: 1.38×
• Total profit: $21,124
• Equity at exit: $17,249

Cash invested: $55,860 (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: 340
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,533 medium
• Mortgage (P&I): −$1,046
• Tax from tax record: −$225 /mo · $2,694/yr
• Insurance: −$83
• HOA: −$740
• Vacancy / Maint / Mgmt: −$742
• Net cashflow: $697

Break-even live

Break-even rent $2,650

Max offer price $199,500

Occupancy floor 75%

Sensitivity live

Price	-10% $810	-5% $754	+0% $697	+5% $641	+10% $584
Rent	-10% $418	-5% $558	+0% $697	+5% $837	+10% $977
Rate	-1.0pp $798	-0.5pp $748	base $697	+0.5pp $646	+1.0pp $593

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 NE 135th St #904 North Miami, FL	2.0	2.0	963	$23,509	$24.41	17d	1	1.32mi
2020 NE 135th St North Miami, FL	2.0	2.0	963	$23,509	$24.41	15d	1	1.32mi

HOA detail condo

• Monthly dues: $740 · $8,880/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $199,500 Active 49 DOM
2. 2026-06-17
   days on market $199,500 Active 48 DOM
3. 2026-06-16
   days on market $199,500 Active 47 DOM
4. 2026-06-15
   days on market $199,500 Active 46 DOM
5. 2026-06-13
   days on market $199,500 Active 44 DOM
6. 2026-06-09
   days on market $199,500 Active 40 DOM
7. 2026-06-08
   days on market $199,500 Active 39 DOM
8. 2026-06-07
   days on market $199,500 Active 38 DOM
9. 2026-06-04
   days on market $199,500 Active 35 DOM
10. 2026-06-03
    days on market $199,500 Active 34 DOM
11. 2026-06-02
    days on market $199,500 Active 33 DOM
12. 2026-06-01
    days on market $199,500 Active 32 DOM
13. 2026-05-31
    days on market $199,500 Active 31 DOM
14. 2026-04-30
    listed $199,500 Active
15. 2026-04-22
    historical
16. 2026-03-20
    listed $199,900 Active
17. 2007-08-16
    soldstatus $115,000
18. 2007-08-09
    soldstatus $115,000 401-char remark

    Show marketing remark (401 chars)

    AFFORDABLE , NICE AND COZY APT. FOR SALE JUST MINUTES FROM BISCAYNE BLVD. CLOSE TO EVERYTHING, THE BUILDING IS FEAUTURING A POOL, EXERCISE ROOM, SECURITY SYSTEM, LARGE PARKING LOT, PLENTY OF PARKING SPACE, AND IT IS LOCATED IN VERY QUIET AREA. FROM THE L ARGE BALCONY OF THIS TOP FLOOR CORNER UNIT THE VIEW IS RELAXING AND ENJOYABLE. NOTHING LIKE THIS IN THE AREA, NO RENTAL RESTRICTION, HURRY UP!!!!

19. 2005-07-20
    soldstatus $50,000
20. 1998-04-17
    soldstatus $30,000

ⓘ 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: $2,694 · $225/mo
• Projected year-2 tax: $2,694 · $225/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 X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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: $42,399
• − Mortgage interest: −$11,175
• − Property taxes: −$2,694
• − Insurance: −$998
• − Repairs & maintenance: −$3,392
• − Management: −$3,392
• − HOA: −$8,880
• − Depreciation: −$5,804
• Taxable income: $6,065
• Est. tax owed @ 24.0%: −$1,456
• After-tax cash flow: $6,914/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 — North Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• 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

+565.0% since first listed

7 events — show timeline

• 2026-04-30 Listed $199,500 MARMLS
• 2026-04-22 Listing Removed — MARMLS
• 2026-03-20 Listed $199,900 MARMLS
• 2007-08-16 Sold (Public Records) $115,000 Public Records
• 2007-08-09 Sold (MLS) $115,000 MARMLS
• 2005-07-20 Sold (Public Records) $50,000 Public Records
• 1998-04-17 Sold (Public Records) $30,000 Public Records

Property tax history

+19.5%/yr

Latest (2025): $2,694 · +6.1% YoY. Source: county tax records.