2821 NE N Miami Beach Blvd Unit 3M · North Miami Beach, FL 33160

$298,900

2 bd · 2.0 ba · 1,085 sqft · Condo · 99 Days on market

Built 1973 $648/mo HOA · 19% of rent

---

Why this score? — see what drove the D+ 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 +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• DSCR +3.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Beautifully Apartment in Prime North Miami Beach Location, Carlton Bay Condominium !!!Don’t miss this incredible opportunity to own a stunning apartment in North Miami Beach, just minutes from the ocean, fine dining, shopping, and top-rated schools! This bright and spacious home features throughout, an unbeatable location near Kane Concourse and the desirable Eastern Shores and Sunny Isles areas. Enjoy the relaxing pool and bay views, walk or ride your bike to the beach !!Live where others vacation — enjoy coastal living at its best with everything you need just moments away. This one won’t last! Schedule your private showing today before it’s gone! The buyer is mot

Key facts

• Eastern shores
• Coastal living
• Bay views

Tags

• KANE CONCOURSE
• EASTERN SHORES
• SUNNY ISLES
• RELAXING POOL
• BAY VIEWS
• COASTAL LIVING

Property features AI

Finance

• Financial info: Pets allowed (with size limit)
• HOA & community: Homeowners association with monthly fee; Association amenities include parking, storage, community room and maintenance; HOA covers insurance, grounds and structure maintenance, pest control, sewer, water, common areas, elevator, legal/accounting, roof repairs and pool service

Exterior

• Parking: Assigned parking plus guest parking; One open parking space assigned
• Security: Closed circuit cameras; Fire alarm; Smoke detectors; Entry phone/intercom
• Utilities: Cable available; Water and sewer provided via association
• Home design: Condominium; Resale unit; Six-story building; Third-floor entry (accessed by elevator)
• Construction: Concrete block construction (CBS)
• Exterior features: Screened porch

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: No main-level bedrooms (unit entry on third floor via elevator)
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Unfurnished; Blinds, drapes and rods; Accessible elevator installed; Closed circuit camera system, fire alarm, smoke detectors and entry phone/intercom
• Laundry & utility: Washer/dryer hookups likely available (appliance specifics not listed)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $-19 ($-226/yr) — negative.
• To cash-flow at today's rent, offer at most $296k (0.9% below list).
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $272k (9.0% below list) — sets the bar for market timing.

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 flat; 1870 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,411/mo this rent would consume 61% 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 $4k of equity ($2k loan paydown + $2k 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.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $100k; list at $299k implies a 199% gain — meaningful room to come down on a strong offer.

Recommended offer $271,999 (9.0% 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 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 1.14% ✓
• Cap rate: 6.22%
• Cash-on-cash: -0.27%
• DSCR: 0.99
• GRM: 7.3

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: -2.2%
• Equity multiple: 0.89×
• Total profit: $-8,943
• Equity at exit: $94,749

10-year hold

• IRR: 1.4%
• Equity multiple: 1.16×
• Total profit: $13,074
• Equity at exit: $120,455

Cash invested: $83,692 (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: 1870
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $3,411 medium
• Mortgage (P&I): −$1,567
• Tax est. 1.5%: −$374 /mo · $4,484/yr
• Insurance: −$125
• HOA: −$648
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $-19

Break-even live

Break-even rent $3,435

Max offer price $296,171

Occupancy floor 96%

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: $74,725
• Closing costs: $8,967
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $648 · $7,776/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $298,900 Active 99 DOM
2. 2026-06-17
   days on market $298,900 Active 98 DOM
3. 2026-06-16
   days on market $298,900 Active 97 DOM
4. 2026-06-15
   days on market $298,900 Active 96 DOM
5. 2026-06-13
   days on market $298,900 Active 94 DOM
6. 2026-06-09
   days on market $298,900 Active 90 DOM
7. 2026-06-08
   days on market $298,900 Active 89 DOM
8. 2026-06-07
   days on market $298,900 Active 88 DOM
9. 2026-06-04
   days on market $298,900 Active 85 DOM
10. 2026-06-03
    days on market $298,900 Active 84 DOM
11. 2026-06-02
    days on market $298,900 Active 83 DOM
12. 2026-06-01
    days on market $298,900 Active 82 DOM
13. 2026-05-31
    days on market $298,900 Active 81 DOM
14. 2025-11-07
    listed $298,900 Active
15. 2013-03-18
    soldstatus $100,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $40,933
• − Mortgage interest: −$16,743
• − Property taxes: −$4,484
• − Insurance: −$1,494
• − Repairs & maintenance: −$3,275
• − Management: −$3,275
• − HOA: −$7,776
• − Depreciation: −$8,695
• Taxable loss: −$4,808
• Est. tax savings @ 24.0%: +$1,154
• After-tax cash flow: $928/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

+198.9% since first listed

2 events — show timeline

• 2025-11-07 Listed $298,900 Beaches MLS
• 2013-03-18 Sold (MLS) $100,000 MARMLS