1720 NW N River Dr #613 · Miami, FL 33125

$194,900

1 bd · 1.0 ba · 634 sqft · Condo public records · 52 Days on market

Built 1986 $419/mo HOA · 13% 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 +29.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1 bedroom / 1 bathroom condo in the complex, Serenity on the River, on the Miami River. Unit is carpeted throughout and has spacious living and bedroom areas. Close to the Marlins Stadium, Airport, and other transportation. This is a Fannie Mae HomePath p roperty. Approved for HomePath Renovation Mortgage Financing!

Key facts

• Refreshing pool
• Granite countertops
• $419 HOA

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• REFRESHING POOL
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO WYNWOOD
• CLOSE PROXIMITY TO HIGHWAYS

Property features AI

Finance

• Financial info: Pets allowed conditionally (restrictions may apply)
• HOA & community: Monthly association fee; Association fee covers parking, pool(s), recreation facilities, and trash; Community amenities include fitness center, laundry facilities, pool, and elevator(s)

Exterior

• Parking: Assigned parking; Guest parking available; One covered space (1-car garage)
• Security: Key card entry; Phone entry system
• Utilities: Standard municipal water and sewer (details not specified); Electric service (details not specified)
• Home design: Attached property; 6-story building; Entry on level 6
• Construction: Block construction; Resale property
• Exterior features: Balcony (open); Association-maintained pool; Riverfront location; Has a view; Exterior lighting; Complex is fenced

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds on windows; Eat-in kitchen; Combined living/dining area; Bedroom on main level
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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: Comstock Elementary School (math 30% / reading 33%, grade F, #1,841 of 2,144 statewide, top 86%, 573 students, 64% FRL); Brownsville Middle School (math 13% / reading 19%, grade F, #565 of 571 statewide, top 99%, 487 students, 71% FRL); Miami Jackson Senior High School (math 13% / reading 22%, grade F, #575 of 667 statewide, top 86%, 1,305 students, 62% FRL) — zoned schools at 66% FRL track the district average.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 (-1.4%/yr); 241 active listings in the ZIP; lower-income renter base — watch delinquency; 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 52 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 13y 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 $77k; list at $195k implies a 152% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
7. 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?
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: 1.65% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.33%
• DSCR: 1.68
• GRM: 5.0

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: -12.3%
• Equity multiple: 0.58×
• Total profit: $-23,159
• Equity at exit: $29,060

10-year hold

• IRR: -12.7%
• Equity multiple: 0.42×
• Total profit: $-31,912
• Equity at exit: $16,851

Cash invested: $54,572 (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 33125

• Rents YoY: -1.4%
• Active inventory: 241
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,218 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$323 /mo · $3,875/yr
• Insurance: −$81
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$419
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $271

Break-even live

Break-even rent $2,876

Max offer price $194,900

Occupancy floor 87%

Sensitivity live

Price	-10% $381	-5% $326	+0% $271	+5% $215	+10% $160
Rent	-10% $16	-5% $144	+0% $271	+5% $398	+10% $525
Rate	-1.0pp $369	-0.5pp $320	base $271	+0.5pp $220	+1.0pp $169

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $419 · $5,028/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-05-21
   status Pending
2. 2026-05-12
   historical Active Under Contract
3. 2026-03-30
   listed $194,900 Active
4. 2025-09-03
   historical $1,650
5. 2025-08-22
   listed $1,650
6. 2025-08-18
   historical $1,850
7. 2025-08-14
   listed $1,850
8. 2025-08-11
   status Pending
9. 2025-08-02
   historical $1,850
10. 2025-07-27
    historical Active Under Contract
11. 2025-07-26
    historical
12. 2025-06-12
    listed $1,850
13. 2025-06-02
    price $225,000
14. 2025-03-11
    listed $240,000 Active
15. 2024-07-03
    historical $1,950
16. 2024-05-18
    listed $1,950
17. 2013-12-05
    soldstatus $77,300 Sold 317-char remark

    Show marketing remark (317 chars)

    1 bedroom / 1 bathroom condo in the complex, Serenity on the River, on the Miami River. Unit is carpeted throughout and has spacious living and bedroom areas. Close to the Marlins Stadium, Airport, and other transportation. This is a Fannie Mae HomePath p roperty. Approved for HomePath Renovation Mortgage Financing!

18. 2013-08-19
    status Pending 317-char remark

    Show marketing remark (317 chars)

    1 bedroom / 1 bathroom condo in the complex, Serenity on the River, on the Miami River. Unit is carpeted throughout and has spacious living and bedroom areas. Close to the Marlins Stadium, Airport, and other transportation. This is a Fannie Mae HomePath p roperty. Approved for HomePath Renovation Mortgage Financing!

19. 2013-08-02
    listed $89,900 Active 317-char remark

    Show marketing remark (317 chars)

    1 bedroom / 1 bathroom condo in the complex, Serenity on the River, on the Miami River. Unit is carpeted throughout and has spacious living and bedroom areas. Close to the Marlins Stadium, Airport, and other transportation. This is a Fannie Mae HomePath p roperty. Approved for HomePath Renovation Mortgage Financing!

20. 2013-07-18
    historical
21. 2013-05-06
    status Pending
22. 2004-09-15
    soldstatus $20,000,000

ⓘ 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: $3,875 · $323/mo
• Projected year-2 tax: $3,875 · $323/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 · 28 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,619
• − Mortgage interest: −$10,917
• − Property taxes: −$3,875
• − Insurance: −$6,093
• − Repairs & maintenance: −$3,090
• − Management: −$3,090
• − HOA: −$5,028
• − Depreciation: −$5,670
• Taxable income: $856
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $3,042/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): 56,897
• Household income: $44,979
• Rent vs Own: 74.0% rent · 26.0% own
• Severe rent burden: 5223.0

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: Predominantly Hispanic (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 52% White 4% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 46% Dominican 3% Salvadoran 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 68% · Canada, Jamaica, Dominican Republic
• Languages at home: 9% English-only · Spanish 90%

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: ▼ -402.98%
• Current HPI: 476.1631
• Rent YoY: ▼ -1.39%
• 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

-99.0% since first listed

22 events — show timeline

• 2026-05-21 Pending — MARMLS
• 2026-05-12 Contingent — MARMLS
• 2026-03-30 Listed $194,900 MARMLS
• 2025-09-03 Rental Removed $1,650 MARMLS
• 2025-08-22 Listed for Rent $1,650 MARMLS
• 2025-08-18 Rental Removed $1,850 MARMLS
• 2025-08-14 Listed for Rent $1,850 MARMLS
• 2025-08-11 Pending — MARMLS
• 2025-08-02 Rental Removed $1,850 MARMLS
• 2025-07-27 Contingent — MARMLS
• 2025-07-26 Listing Removed — MARMLS
• 2025-06-12 Listed for Rent $1,850 MARMLS
• 2025-06-02 Price Changed $225,000 MARMLS
• 2025-03-11 Listed $240,000 MARMLS
• 2024-07-03 Rental Removed $1,950 MARMLS
• 2024-05-18 Listed for Rent $1,950 MARMLS
• 2013-12-05 Sold (MLS) $77,300 MARMLS
• 2013-08-19 Pending — MARMLS
• 2013-08-02 Listed $89,900 MARMLS
• 2013-07-18 Listing Removed — MARMLS
• 2013-05-06 Pending — MARMLS
• 2004-09-15 Sold (Public Records) $20,000,000 Public Records

Property tax history

+14.2%/yr

Latest (2025): $3,875 · +192.2% YoY. Source: county tax records.