2151 NE 168th St · North Miami Beach, FL 33162

$2,500,000

14 bd · 14.0 ba · 10,284 sqft · MultiFamily public records · 8 Days on market

Built 1968

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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 +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Located just minutes from Greynolds Park, Oleta River Park, and the FIU Biscayne Bay Campus (1.5 miles northwest), this stable 12-unit multifamily asset offers an ideal blend of nature and convenience. Built in 1978 and constructed with durable concrete block, stucco finish, and gable roofs, the property features approximately 10,284 total square feet across a highly desirable unit mix:(10) 1-Bed / 1-Bath Lofts: Averaging ±650 sq. ft. each (6,500 sq. ft. total rentable)(2) 2-Bed / 1-Bath Units: Averaging ±850 sq. ft. each (1,700 sq. ft. total rentable)The property is priced to deliver an attractive projected 6.25% capitalization rate based on market-rate rent optimization. Res

Key facts

• Stucco finish
• Aventura mall
• Gable roofs

Tags

• DURABLE CONCRETE BLOCK
• STUCCO FINISH
• GABLE ROOFS
• COMMUTER CONNECTIVITY
• AVENTURA MALL

Property features AI

Finance

• Financial info: Total actual rent: $235,000; Operating expenses: $60,000; Typical actual rent for 2-bed unit: $2,150 (leased); Typical actual rent for 1-bed unit: $1,600 (leased); Rent includes trash collection and water
• HOA & community: Association fee charged annually

Exterior

• Parking: Total of 9 parking spaces (includes on-street parking)
• Utilities: Public sewer; Cable available
• Home design: Two-story building; Block construction
• Construction: Block construction; Effective year built
• Exterior features: Less than quarter-acre lot; On-street parking available

Interior

• Bedrooms: Two-bedroom units (2 units); One-bedroom units (10 units)
• Flooring: Ceramic tile
• Bathrooms: One bathroom in each unit
• Heating & cooling: Electric cooling (air conditioning units in some units)
• Interior features: Ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 10×1bd/1ba + 2×2bd/1ba units multifamily listed at $2.50M.

Deal economics

• At list price, monthly cash flow is $16k ($197k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($42k rent vs $2.50M).
• Cap rate 14.2% 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.
• Market conditions: Rents soft (-1.6%/yr); 284 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $41,786/mo this rent would consume 826% of the median local household income ($61k/yr) (locally 2509% 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 $17k of loan paydown is wiped out by about $75k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $700k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $750k; list at $2.50M implies a 233% 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,500,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 14.16%
• Cash-on-cash: 28.09%
• DSCR: 2.25
• 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: 18.9%
• Equity multiple: 1.74×
• Total profit: $516,321
• Equity at exit: $372,758

10-year hold

• IRR: 25.1%
• Equity multiple: 2.89×
• Total profit: $1,321,157
• Equity at exit: $216,154

Cash invested: $700,000 (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: 284
• Price-to-rent: 59.7×

Monthly cashflow live

• Estimated rent: $41,786 medium
• Mortgage (P&I): −$13,110
• Tax from tax record: −$2,473 /mo · $29,672/yr
• Insurance: −$1,042
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,775
• Net cashflow: $16,386

Break-even live

Break-even rent $21,044

Max offer price $2,500,000

Occupancy floor 56%

12-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$34,910
▸ 2× units	2	1	$6,876
Total (12 units)			$41,786

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: $625,000
• Closing costs: $75,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-09
   days on market $2,500,000 Active 8 DOM
2. 2026-06-08
   days on market $2,500,000 Active 7 DOM
3. 2026-06-07
   days on market $2,500,000 Active 6 DOM
4. 2026-06-04
   days on market $2,500,000 Active 3 DOM
5. 2026-06-03
   days on market $2,500,000 Active 2 DOM
6. 2026-06-02
   remarks 685-char remark
7. 2026-06-02
   listed $2,500,000 Active 1 DOM

ⓘ 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: $29,672 · $2,473/mo
• Projected year-2 tax: $29,672 · $2,473/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 (unshaded) · 32% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 29 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: $501,432
• − Mortgage interest: −$140,039
• − Property taxes: −$29,672
• − Insurance: −$12,500
• − Repairs & maintenance: −$40,115
• − Management: −$40,115
• − Depreciation: −$72,727
• Taxable income: $166,265
• Est. tax owed @ 24.0%: −$39,904
• After-tax cash flow: $156,733/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: 90,324
• 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

+646.3% since first listed

9 events — show timeline

• 2026-05-28 Listed $2,500,000 MARMLS
• 2013-06-10 Sold (Public Records) $750,000 Public Records
• 2011-07-08 Sold (Public Records) $560,000 Public Records
• 2011-06-28 Sold (Public Records) $560,000 Public Records
• 2004-12-22 Sold (Public Records) $812,000 Public Records
• 1993-12-22 Sold (Public Records) $365,000 Public Records
• 1993-05-04 Sold (Public Records) $72,000 Public Records
• 1989-01-01 Sold (Public Records) $350,000 Public Records
• 1983-04-01 Sold (Public Records) $335,000 Public Records

Property tax history

+7.1%/yr

Latest (2025): $29,672 · +7.0% YoY. Source: county tax records.