13155 Ixora Ct #804 · North Miami, FL 33181

$139,900

1 bd · 1.0 ba · 778 sqft · Condo public records · 44 Days on market

Built 1969 $954/mo HOA · 32% of rent

---

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 +26.0/30.0
• 1% rule +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Keystone Harbor Club. Check out this 1BR, 1.5-bath condo with 778 sq ft plus large private balcony with stunning city views. The unit is located on the 8th floor, and is nestled in the sought-after gated waterfront community of Keystone Point. The spacious primary suite offers a generous walk-in closet and a private ensuite bath, while an additional half bath adds convenience for guests. Residents enjoy an impressive array of amenities including a heated pool and sundeck, fitness center, sauna, clubroom, and BBQ area. Boat slips available for rent for $40 per ft per month, with direct ocean access via the Intracoastal. Minimum Credit Score of 700 is required. The building has suc

Key facts

• $954 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee (includes maintenance of grounds, security, common areas, and pool service); Association amenities: elevator(s), fitness center, laundry, parking, pool, sauna, picnic area

Exterior

• Parking: Assigned open parking (asphalt); 1 parking space
• Security: Key card entry; Entry phone/intercom; Security fence; Security patrol
• Utilities: Public water; Public sewer; Cable available; Electricity available; Water available
• Home design: Condominium; Single-story building; Faces east; Resale property
• Construction: Block construction; Tile roof; Built as part of an existing building (assessor data)
• Exterior features: Waterfront location; Pool; Sauna; Picnic area; Security fence; Security patrol

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Tile; Other
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Closet cabinetry; Key card entry; Entry phone/intercom
• Laundry & utility: Laundry in building / community laundry available

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-80 ($-955/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (10.1% below list).
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $126k (10.1% below list) — sets the bar for cash-flow.
• Cap rate 9.3% 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: David Lawrence Jr. K-8 Center (math 43% / reading 50%, grade D-, #1,223 of 2,144 statewide, top 57%, 1,282 students, 55% FRL); North Miami Middle School (math 25% / reading 31%, grade F, #486 of 571 statewide, top 86%, 807 students, 71% FRL); Alonzo & Tracy Mourning Senior High School (math 38% / reading 50%, grade F, #244 of 667 statewide, top 37%, 1,597 students, 48% FRL).
• Market conditions: Rents soft (-0.1%/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).
• At $2,955/mo this rent would consume 56% of the median local household income ($63k/yr) (locally 1914% 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 $967 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 44 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask is 8644% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $32k; list at $140k implies a 330% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 32% 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 $125,840 (10.1% 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. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 2.11% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.63%
• DSCR: 1.47
• GRM: 3.9

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: -29.0%
• Equity multiple: 0.09×
• Total profit: $-35,465
• Equity at exit: $20,860

10-year hold

• IRR: —
• Equity multiple: -0.71×
• Total profit: $-67,084
• Equity at exit: $12,096

Cash invested: $39,172 (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 33181

• Rents YoY: -0.1%
• Active inventory: 340
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,955 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$242 /mo · $2,899/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$954
• Vacancy / Maint / Mgmt: −$621
• Net cashflow: $-80

Break-even live

Break-even rent $3,056

Max offer price $125,840

Occupancy floor 98%

Sensitivity live

Price	-10% $0	-5% $-40	+0% $-80	+5% $-119	+10% $-159
Rent	-10% $-313	-5% $-196	+0% $-80	+5% $37	+10% $154
Rate	-1.0pp $-9	-0.5pp $-44	base $-80	+0.5pp $-116	+1.0pp $-153

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: $34,975
• Closing costs: $4,197
• 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	0.38mi
2020 NE 135th St North Miami, FL	2.0	2.0	963	$23,509	$24.41	15d	1	0.38mi

HOA detail condo

• Monthly dues: $954 · $11,448/yr
• Likely covers: waterpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $139,900 Active 44 DOM
2. 2026-06-18
   days on market $139,900 Active 41 DOM
3. 2026-06-17
   days on market $139,900 Active 40 DOM
4. 2026-06-16
   days on market $139,900 Active 39 DOM
5. 2026-06-15
   days on market $139,900 Active 38 DOM
6. 2026-06-13
   pricedays on market $139,900 Active 36 DOM
7. 2026-06-09
   days on market $145,000 Active 32 DOM
8. 2026-06-08
   pricedays on market $145,000 Active 31 DOM
9. 2026-06-07
   days on market $149,000 Active 30 DOM
10. 2026-06-04
    days on market $149,000 Active 27 DOM
11. 2026-06-03
    days on market $149,000 Active 26 DOM
12. 2026-06-02
    days on market $149,000 Active 25 DOM
13. 2026-06-01
    days on market $149,000 Active 24 DOM
14. 2026-06-01
    price $149,000 Active 23 DOM
15. 2026-05-31
    days on market $159,000 Active 23 DOM
16. 2026-05-24
    price $169,000
17. 2026-05-18
    price $179,000
18. 2026-05-09
    listed $1,600
19. 2026-05-08
    listed $189,900 Active
20. 2026-02-01
    historical $1,600
21. 2026-01-31
    historical
22. 2026-01-03
    price $1,600
23. 2025-12-16
    price $1,700
24. 2025-11-21
    price $1,750
25. 2025-10-15
    listed $1,800
26. 2025-10-11
    listed $196,500 Active
27. 2024-08-08
    historical
28. 2024-02-07
    listed $249,000 Active
29. 1990-10-19
    soldstatus $32,500
30. 1975-02-01
    soldstatus $24,200

ⓘ 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: $2,899 · $242/mo
• Projected year-2 tax: $2,899 · $242/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 9/10 Extreme FEMA zone AE · 99% 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: $35,461
• − Mortgage interest: −$7,837
• − Property taxes: −$2,899
• − Insurance: −$5,818
• − Repairs & maintenance: −$2,837
• − Management: −$2,837
• − HOA: −$11,448
• − Depreciation: −$4,070
• Taxable loss: −$2,285
• Est. tax savings @ 24.0%: +$548
• After-tax cash flow: $-407/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): 20,848
• Household income: $63,275
• Rent vs Own: 62.4% rent · 37.6% own
• Severe rent burden: 1914.0

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: Hispanic / Latino 44% Black 29% Two or more races 23% White 22% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 8% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 18% Lithuanian 3% Italian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 28% English-only · Spanish 44% French/Haitian/Cajun 18% Other Indo-European 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: ▼ -334.57%
• Current HPI: 341.3285
• Rent YoY: ▼ -0.11%
• 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

+598.3% since first listed

15 events — show timeline

• 2026-05-24 Price Changed $169,000 Beaches MLS
• 2026-05-18 Price Changed $179,000 Beaches MLS
• 2026-05-09 Listed for Rent $1,600 GFLMLS
• 2026-05-08 Listed $189,900 Beaches MLS
• 2026-02-01 Rental Removed $1,600 MARMLS
• 2026-01-31 Listing Removed — MARMLS
• 2026-01-03 Price Changed $1,600 MARMLS
• 2025-12-16 Price Changed $1,700 MARMLS
• 2025-11-21 Price Changed $1,750 MARMLS
• 2025-10-15 Listed for Rent $1,800 MARMLS
• 2025-10-11 Listed $196,500 MARMLS
• 2024-08-08 Listing Removed — MARMLS
• 2024-02-07 Listed $249,000 MARMLS
• 1990-10-19 Sold (Public Records) $32,500 Public Records
• 1975-02-01 Sold (Public Records) $24,200 Public Records

Property tax history

+6.5%/yr

Latest (2025): $2,899 · -1.7% YoY. Source: county tax records.