3642 NE 171st St #306 · North Miami Beach, FL 33160

$179,000

2 bd · 1.0 ba · 815 sqft · Condo public records · 352 Days on market

Built 1974 $750/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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious 2 bed 1.5 bath condo in the highly sought after Eastern Shores community! Enjoy serene views from 2 private balconys. Features include a walk in closet, ample natural light, and one dedicated parking space. Prime location near beaches, shopping, dining, and entertainment. A rare opportunity to own waterfront living at its best! Available to be rented for the first year! Priced to Sale, buyer pays special assessment. Avaibale to rent out right away, 1 year minimum.

Key facts

• Private balcony
• Walk-in closet
• Waterfront living

Tags

• PRIVATE BALCONY
• WALK-IN CLOSET
• DEDICATED PARKING SPACE
• PRIME LOCATION
• WATERFRONT LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 5.2% in North Miami Beach — 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 82/100 on livability (#71 in FL, #1,177 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D+, crime 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: Ojus Elementary School (math 56% / reading 59%, grade C+, #764 of 2,144 statewide, top 36%, 776 students, 63% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% 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 flat; 1879 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,596/mo this rent would consume 64% of the median local household income ($67k/yr) (locally 3106% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $943 appreciation (0.5% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.5% appreciation + 0.9% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 352 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% 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 $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 352 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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?
9. 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.
10. 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.
11. 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: 2.01% ✓
• Cap rate: 11.14%
• Cash-on-cash: 17.30%
• DSCR: 1.77
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.23×
• Total profit: $11,646
• Equity at exit: $56,742

10-year hold

• IRR: 7.2%
• Equity multiple: 1.75×
• Total profit: $37,800
• Equity at exit: $72,136

Cash invested: $50,120 (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 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1879
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $3,596 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$355 /mo · $4,263/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$750
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $296

Break-even live

Break-even rent $3,222

Max offer price $179,000

Occupancy floor 87%

Sensitivity live

Price	-10% $397	-5% $347	+0% $296	+5% $245	+10% $195
Rent	-10% $12	-5% $154	+0% $296	+5% $438	+10% $580
Rate	-1.0pp $386	-0.5pp $341	base $296	+0.5pp $250	+1.0pp $202

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $750 · $9,000/yr
• Likely covers: water
• ⚠ Special-assessment mentions:

  …to own waterfront living at its best! Available to be rented for the first year! Priced to Sale, buyer pays special assessment. Avaibale to rent out right away, 1 year minimum.

Listing history 11 events

1. 2026-02-27
   soldstatus $160,000
2. 2026-02-04
   status Pending
3. 2026-01-11
   price $179,000
4. 2026-01-06
   price $189,000
5. 2025-10-07
   price $199,000
6. 2025-10-03
   price $190,000
7. 2025-04-27
   price $250,000
8. 2025-02-28
   price $288,999
9. 2025-02-17
   listed $300,000 Active
10. 1998-03-27
    soldstatus $54,000
11. 1979-11-01
    soldstatus $34,000

ⓘ 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: $4,263 · $355/mo
• Projected year-2 tax: $4,263 · $355/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: $43,154
• − Mortgage interest: −$10,027
• − Property taxes: −$4,263
• − Insurance: −$6,014
• − Repairs & maintenance: −$3,452
• − Management: −$3,452
• − HOA: −$9,000
• − Depreciation: −$5,207
• Taxable income: $1,739
• Est. tax owed @ 24.0%: −$417
• After-tax cash flow: $3,134/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 Beach

• Score: 82/100
• State rank: #71
• US rank: #1177

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami Beach, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 34,147
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,718
• Household income: $67,040
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 3106.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 46% White 44% Two or more races 27% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 8% Dominican 1% Salvadoran 4%
• Common ancestry: Scotch-Irish 8% Hispanic 3% Subsaharan African 3%
• Foreign-born: 61% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · Spanish 45% Russian/Polish/Slavic 12% Other Indo-European 5%

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: ▲ 0.53%
• Current HPI: 284.9293
• Rent YoY: ▲ 0.94%
• 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

+370.6% since first listed

11 events — show timeline

• 2026-02-27 Sold (Public Records) $160,000 Public Records
• 2026-02-04 Pending — MARMLS
• 2026-01-11 Price Changed $179,000 MARMLS
• 2026-01-06 Price Changed $189,000 MARMLS
• 2025-10-07 Price Changed $199,000 MARMLS
• 2025-10-03 Price Changed $190,000 MARMLS
• 2025-04-27 Price Changed $250,000 MARMLS
• 2025-02-28 Price Changed $288,999 MARMLS
• 2025-02-17 Listed $300,000 MARMLS
• 1998-03-27 Sold (Public Records) $54,000 Public Records
• 1979-11-01 Sold (Public Records) $34,000 Public Records

Property tax history

+12.7%/yr

Latest (2025): $4,263 · +10.5% YoY. Source: county tax records.