15201 NE 6th Ave Unit C302 · Golden Glades, FL 33162

$148,500

2 bd · 2.0 ba · 920 sqft · Condo public records · 111 Days on market

Built 1967 $659/mo HOA · 20% 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

This exclusive 2 bedroom 2 bathroom condo at Ola Condominiums. A Unique opportunity! Corner unit bringing in natural light and a large balcony. The kitchen has been fully remodeled, and the flooring is brand new! The Master bedroom's bathroom needs remodeling. Great income opportunity Tenant in Place !!!EXELENTE INVESTMENT 8%IN PROFITS!!!!!!!

Key facts

• Natural light
• Large balcony
• Brand new flooring

Tags

• CORNER UNIT
• NATURAL LIGHT
• LARGE BALCONY
• FULLY REMODELED KITCHEN
• BRAND NEW FLOORING
• INCOME OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $148k.

Deal economics

• At list price, monthly cash flow is $481 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $148k).
• Recommended offer: $135k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 3.6% 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.
• Zoned schools: Oak Grove Elementary School (math 29% / reading 36%, grade F, #1,787 of 2,144 statewide, top 84%, 472 students, 80% FRL); John F. Kennedy Middle School (math 47% / reading 55%, grade C, #237 of 571 statewide, top 43%, 1,074 students, 67% 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 34% at this address vs 50% district-wide (-16 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 (-1.6%/yr); 287 active listings in the ZIP; 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 $4k 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 111 days — a 9% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 13y ago; this cycle's ask is 7716% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $29k; list at $148k implies a 412% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 20% of rent.
• 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 $135,135 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 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 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: 2.21% ✓
• Cap rate: 13.63%
• Cash-on-cash: 26.19%
• DSCR: 2.17
• GRM: 3.8

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,323
• Equity at exit: $22,142

10-year hold

• IRR: 1.4%
• Equity multiple: 1.08×
• Total profit: $3,220
• Equity at exit: $12,840

Cash invested: $41,580 (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: 287
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $3,275 medium
• Mortgage (P&I): −$779
• Tax from tax record: −$180 /mo · $2,159/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$659
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $481

Break-even live

Break-even rent $2,666

Max offer price $148,500

Occupancy floor 80%

Sensitivity live

Price	-10% $565	-5% $523	+0% $481	+5% $439	+10% $397
Rent	-10% $222	-5% $351	+0% $481	+5% $610	+10% $740
Rate	-1.0pp $556	-0.5pp $519	base $481	+0.5pp $442	+1.0pp $403

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: $37,125
• Closing costs: $4,455
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $659 · $7,908/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2025-05-29
   historical $1,819
2. 2025-05-29
   status Pending
3. 2025-05-24
   price $1,819
4. 2025-05-18
   price $1,820
5. 2025-05-15
   price $1,830
6. 2025-05-10
   price $1,849
7. 2025-04-23
   price $148,500
8. 2025-04-16
   price $149,900
9. 2025-04-10
   price $152,000
10. 2025-04-09
    price $155,000
11. 2025-04-08
    price $165,000
12. 2025-04-03
    price $169,500
13. 2025-03-27
    price $170,000
14. 2025-03-16
    price $1,850
15. 2025-03-11
    price $175,000
16. 2025-03-03
    price $179,000
17. 2025-02-19
    listed $1,900
18. 2025-02-07
    listed $179,900 Active
19. 2024-07-31
    historical
20. 2024-05-27
    historical $1,950
21. 2024-05-27
    listed $185,000 Active
22. 2024-05-13
    price $1,950
23. 2024-04-24
    historical
24. 2024-04-23
    status Active
25. 2024-04-19
    status Pending
26. 2024-04-12
    listed $2,100
27. 2024-03-23
    status Active
28. 2024-03-19
    historical Active Under Contract
29. 2024-03-15
    status Active
30. 2024-02-23
    historical Active Under Contract
31. 2024-02-03
    listed $185,000 Active
32. 2013-07-22
    soldstatus $29,000
33. 2013-07-15
    soldstatus $29,000 Closed
34. 2013-06-22
    status Pending
35. 2013-05-07
    listed $29,500 New
36. 2006-07-01
    soldstatus $168,900

ⓘ 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: $2,159 · $180/mo
• Projected year-2 tax: $2,159 · $180/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: −$8,318
• − Property taxes: −$2,159
• − Insurance: −$5,861
• − Repairs & maintenance: −$3,144
• − Management: −$3,144
• − HOA: −$7,908
• − Depreciation: −$4,320
• Taxable income: $4,441
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $4,704/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

-98.9% since first listed

36 events — show timeline

• 2025-05-29 Rental Removed $1,819 MARMLS
• 2025-05-29 Pending — MARMLS
• 2025-05-24 Price Changed $1,819 MARMLS
• 2025-05-18 Price Changed $1,820 MARMLS
• 2025-05-15 Price Changed $1,830 MARMLS
• 2025-05-10 Price Changed $1,849 MARMLS
• 2025-04-23 Price Changed $148,500 MARMLS
• 2025-04-16 Price Changed $149,900 MARMLS
• 2025-04-10 Price Changed $152,000 MARMLS
• 2025-04-09 Price Changed $155,000 MARMLS
• 2025-04-08 Price Changed $165,000 MARMLS
• 2025-04-03 Price Changed $169,500 MARMLS
• 2025-03-27 Price Changed $170,000 MARMLS
• 2025-03-16 Price Changed $1,850 MARMLS
• 2025-03-11 Price Changed $175,000 MARMLS
• 2025-03-03 Price Changed $179,000 MARMLS
• 2025-02-19 Listed for Rent $1,900 MARMLS
• 2025-02-07 Listed $179,900 MARMLS
• 2024-07-31 Listing Removed — MARMLS
• 2024-05-27 Rental Removed $1,950 MARMLS
• 2024-05-27 Listed $185,000 MARMLS
• 2024-05-13 Price Changed $1,950 MARMLS
• 2024-04-24 Listing Removed — MARMLS
• 2024-04-23 Relisted — MARMLS
• 2024-04-19 Pending — MARMLS
• 2024-04-12 Listed for Rent $2,100 MARMLS
• 2024-03-23 Relisted — MARMLS
• 2024-03-19 Contingent — MARMLS
• 2024-03-15 Relisted — MARMLS
• 2024-02-23 Contingent — MARMLS
• 2024-02-03 Listed $185,000 MARMLS
• 2013-07-22 Sold (Public Records) $29,000 Public Records
• 2013-07-15 Sold (MLS) $29,000 Beaches MLS
• 2013-06-22 Pending — Beaches MLS
• 2013-05-07 Listed $29,500 Beaches MLS
• 2006-07-01 Sold (Public Records) $168,900 Public Records

Property tax history

+17.7%/yr

Latest (2025): $2,159 · -8.4% YoY. Source: county tax records.