1398 NE 191st St Unit C305 · Ojus, FL 33179

$189,000

1 bd · 1.0 ba · 825 sqft · Condo public records · 72 Days on market

Built 1967 $520/mo HOA · 16% 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 +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own a terrific 1 bed/1 bath Condo with amazing lake views in the heart of NMB less than 10 min West of Aventura. Ideal layout, nice size living room & master bedroom overlooking a beautiful lake with gorgeous sunsets. Brand new flooring installed last week! Freshly painted throughout! New front entry door! Both kitchen & bath are original & need full updating & price reflects that so buyer can do as they wish to suit their needs & taste. Shared washer & dryer for 3rd floor steps away from your front door. Building recently painted & passed it’s 40 yr inspection, building has large swimming pool on lake! Minutes from Aventura Mall, Oleta River State Park, & gorgeous beaches. Renting permitted, great rental opportunity for investors! CASH ONLY with proof of funds.

Key facts

• $520 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee ($520) covering water, sewer and trash; Association amenities: laundry, pool

Exterior

• Parking: Assigned parking (1 space); 1 covered space; 1-car garage
• Utilities: Water: public; Sewer: public; Electricity: public
• Home design: Condo/Apartment in a 3-story building; Entry on level 3; Faces northwest; Attached property; Waterfront: lakefront; Has a view
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Unfurnished
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Recommended offer: $178k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 8.7% in Ojus — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 83/100 on livability (#58 in FL, #1,031 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: schools 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.
• Market conditions: Rents flat; 572 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,163/mo this rent would consume 58% of the median local household income ($65k/yr) (locally 3123% 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 $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 72 days — a 6% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $110k; list at $189k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% 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 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.67% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.08%
• DSCR: 1.72
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.22% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.12×
• Total profit: $6,285
• Equity at exit: $28,181

10-year hold

• IRR: 9.2%
• Equity multiple: 1.60×
• Total profit: $31,632
• Equity at exit: $16,341

Cash invested: $52,920 (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 33179

• Rents YoY: 0.2%
• Active inventory: 572
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,163 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$199 /mo · $2,393/yr
• Insurance: −$79
• HOA: −$520
• Vacancy / Maint / Mgmt: −$664
• Net cashflow: $709

Break-even live

Break-even rent $2,265

Max offer price $189,000

Occupancy floor 73%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $520 · $6,240/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $189,000 Active 72 DOM
2. 2026-06-17
   days on market $189,000 Active 71 DOM
3. 2026-06-16
   days on market $189,000 Active 70 DOM
4. 2026-06-15
   days on market $189,000 Active 69 DOM
5. 2026-06-13
   days on market $189,000 Active 67 DOM
6. 2026-06-09
   days on market $189,000 Active 63 DOM
7. 2026-06-08
   days on market $189,000 Active 62 DOM
8. 2026-06-07
   days on market $189,000 Active 61 DOM
9. 2026-06-04
   days on market $189,000 Active 58 DOM
10. 2026-06-03
    days on market $189,000 Active 57 DOM
11. 2026-06-02
    days on market $189,000 Active 56 DOM
12. 2026-06-01
    days on market $189,000 Active 55 DOM
13. 2026-05-31
    days on market $189,000 Active 54 DOM
14. 2026-04-07
    listed $189,000 Active
15. 2025-12-31
    historical
16. 2025-06-23
    listed $189,000 Active
17. 2024-07-13
    historical $1,700
18. 2024-05-04
    listed $1,800
19. 2021-03-31
    soldstatus $110,000
20. 2021-03-23
    soldstatus $110,000 831-char remark

    Show marketing remark (831 chars)

    Great opportunity to own a terrific 1 bed/1 bath Condo with amazing lake views in the heart of NMB less than 10 min West of Aventura. Ideal layout, nice size living room & master bedroom overlooking a beautiful lake with gorgeous sunsets. Brand new flooring installed last week! Freshly painted throughout! New front entry door! Both kitchen & bath are original & need full updating & price reflects that so buyer can do as they wish to suit their needs & taste. Shared washer & dryer for 3rd floor steps away from your front door. Building recently painted & passed it’s 40 yr inspection, building has large swimming pool on lake! Minutes from Aventura Mall, Oleta River State Park, & gorgeous beaches. Renting permitted, great rental opportunity for investors! CASH ONLY with proof of funds.

21. 2021-02-14
    listed $115,000 831-char remark

    Show marketing remark (831 chars)

    Great opportunity to own a terrific 1 bed/1 bath Condo with amazing lake views in the heart of NMB less than 10 min West of Aventura. Ideal layout, nice size living room & master bedroom overlooking a beautiful lake with gorgeous sunsets. Brand new flooring installed last week! Freshly painted throughout! New front entry door! Both kitchen & bath are original & need full updating & price reflects that so buyer can do as they wish to suit their needs & taste. Shared washer & dryer for 3rd floor steps away from your front door. Building recently painted & passed it’s 40 yr inspection, building has large swimming pool on lake! Minutes from Aventura Mall, Oleta River State Park, & gorgeous beaches. Renting permitted, great rental opportunity for investors! CASH ONLY with proof of funds.

22. 2010-01-05
    soldstatus $35,000
23. 1985-08-01
    soldstatus $29,600
24. 1985-05-01
    soldstatus $33,000
25. 1983-12-01
    soldstatus $25,500

ⓘ 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: $2,393 · $199/mo
• Projected year-2 tax: $2,393 · $199/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 · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,953
• − Mortgage interest: −$10,587
• − Property taxes: −$2,393
• − Insurance: −$945
• − Repairs & maintenance: −$3,036
• − Management: −$3,036
• − HOA: −$6,240
• − Depreciation: −$5,498
• Taxable income: $6,217
• Est. tax owed @ 24.0%: −$1,492
• After-tax cash flow: $7,019/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 — Ojus

• Score: 83/100
• State rank: #58
• US rank: #1031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ojus, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 51,591
• Household income: $65,211
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 3123.0

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: Black 39% Hispanic / Latino 38% Two or more races 23% White 19% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 6% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 13% Scotch-Irish 2% Romanian 2%
• Foreign-born: 48% · Canada, Jamaica, Dominican Republic
• Languages at home: 42% English-only · Spanish 37% French/Haitian/Cajun 13% 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: ▼ -608.34%
• Current HPI: 328.1733
• Rent YoY: ▲ 0.22%
• 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

+641.2% since first listed

12 events — show timeline

• 2026-04-07 Listed $189,000 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-06-23 Listed $189,000 MARMLS
• 2024-07-13 Rental Removed $1,700 MARMLS
• 2024-05-04 Listed for Rent $1,800 MARMLS
• 2021-03-31 Sold (Public Records) $110,000 Public Records
• 2021-03-23 Sold (MLS) $110,000 Beaches MLS
• 2021-02-14 Listed $115,000 Beaches MLS
• 2010-01-05 Sold (Public Records) $35,000 Public Records
• 1985-08-01 Sold (Public Records) $29,600 Public Records
• 1985-05-01 Sold (Public Records) $33,000 Public Records
• 1983-12-01 Sold (Public Records) $25,500 Public Records

Property tax history

+14.6%/yr

Latest (2025): $2,393 · +5.4% YoY. Source: county tax records.