3551 NE 169th St #212 · North Miami Beach, FL 33160

$259,999

2 bd · 2.0 ba · 1,110 sqft · Condo public records · 200 Days on market

Built 1969 $640/mo HOA · 16% of rent

---

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 +25.2/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• 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 MLS

Beautiful Corner Unit located in Eden Isles in the lovely neighborhood of Eastern Shores! Unit is in perfect move in condition. Beautiful laminate floors through out. Split bedroom floor plan. Very spacious rooms with walk in closets. Eastern Shores is located in fabulous residential neighborhood with 24 hour guard house - walking distance to supermarket, stores, restaurants, beach, Oleta Park and much more. Parking spot Number 28. Extra storage on same floor. Note - One buyer must be over 55 years old.

Key facts

• Community boat dock
• $640 HOA
• Garage

Tags

• COMMUNITY BOAT DOCK
• HEATED COMMUNITY POOL
• SHORT DISTANCE TO RESTAURANTS

Property features AI

Finance

• Financial info: Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee; Association amenities include boat dock, clubhouse, fitness center, laundry, pool, and elevator(s); Association covers amenities, common areas, cable TV, internet, laundry, grounds and structure maintenance, parking, pool(s), roof, sewer, security, trash and water

Exterior

• Parking: Assigned parking; Guest parking; 1 covered space / 1 garage space
• Security: Security guard
• Utilities: Central heating and air; Electric water heater; Sewer and water included in association
• Home design: 8-story building; Second-floor entry
• Construction: Block construction; Effective year built
• Exterior features: Balcony; Screened balcony; Association pool; Exterior lighting; Canal-front with no fixed bridges; Has view; Property is attached

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator; Electric water heater
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Furnished; Drapes; Closet cabinetry; Living/dining room; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $260k).
• Recommended offer: $229k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 flat; 1870 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,916/mo this rent would consume 70% 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 $3k of equity ($2k loan paydown + $1k 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 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 4y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,799 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 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 1969 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.51% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.57%
• DSCR: 1.43
• GRM: 5.5

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: 0.4%
• Equity multiple: 1.02×
• Total profit: $1,532
• Equity at exit: $82,418

10-year hold

• IRR: 3.5%
• Equity multiple: 1.38×
• Total profit: $27,392
• Equity at exit: $104,778

Cash invested: $72,800 (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: 5.5×

Monthly cashflow live

• Estimated rent: $3,916 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$401 /mo · $4,810/yr
• Insurance: −$108
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$640
• Vacancy / Maint / Mgmt: −$822
• Net cashflow: $154

Break-even live

Break-even rent $3,720

Max offer price $259,999

Occupancy floor 91%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15701 Collins Ave Sunny Isles Beach, FL	2.0–4.0	2.5–5.5	2325	$18,000	$7.74	2d	9	1.36mi

HOA detail condo

• Monthly dues: $640 · $7,680/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-18
   days on market $259,999 Active 200 DOM
2. 2026-06-17
   days on market $259,999 Active 199 DOM
3. 2026-06-16
   days on market $259,999 Active 198 DOM
4. 2026-06-15
   days on market $259,999 Active 197 DOM
5. 2026-06-13
   days on market $259,999 Active 195 DOM
6. 2026-06-09
   days on market $259,999 Active 191 DOM
7. 2026-06-08
   days on market $259,999 Active 190 DOM
8. 2026-06-07
   days on market $259,999 Active 189 DOM
9. 2026-06-04
   days on market $259,999 Active 186 DOM
10. 2026-06-03
    days on market $259,999 Active 185 DOM
11. 2026-06-02
    days on market $259,999 Active 184 DOM
12. 2026-06-01
    days on market $259,999 Active 183 DOM
13. 2026-05-31
    days on market $259,999 Active 182 DOM
14. 2026-01-07
    price $259,999
15. 2025-12-01
    listed $279,999 Active
16. 2025-03-27
    historical $2,499
17. 2024-09-24
    listed $2,499
18. 2024-09-05
    historical $2,499
19. 2024-08-31
    listed $2,499
20. 2024-08-31
    historical $2,499
21. 2024-08-30
    listed $2,499
22. 2024-08-30
    historical $2,499
23. 2024-08-28
    listed $2,499
24. 2024-08-28
    historical $2,499
25. 2024-07-24
    listed $2,499
26. 2024-07-24
    historical $2,500
27. 2024-02-13
    listed $2,500
28. 2024-01-29
    historical $2,500
29. 2023-10-08
    listed $2,500
30. 2022-11-10
    soldstatus $250,000
31. 2022-11-04
    soldstatus $250,000 Closed 508-char remark

    Show marketing remark (508 chars)

    Beautiful Corner Unit located in Eden Isles in the lovely neighborhood of Eastern Shores! Unit is in perfect move in condition. Beautiful laminate floors through out. Split bedroom floor plan. Very spacious rooms with walk in closets. Eastern Shores is located in fabulous residential neighborhood with 24 hour guard house - walking distance to supermarket, stores, restaurants, beach, Oleta Park and much more. Parking spot Number 28. Extra storage on same floor. Note - One buyer must be over 55 years old.

32. 2022-10-18
    status Pending 508-char remark

    Show marketing remark (508 chars)

    Beautiful Corner Unit located in Eden Isles in the lovely neighborhood of Eastern Shores! Unit is in perfect move in condition. Beautiful laminate floors through out. Split bedroom floor plan. Very spacious rooms with walk in closets. Eastern Shores is located in fabulous residential neighborhood with 24 hour guard house - walking distance to supermarket, stores, restaurants, beach, Oleta Park and much more. Parking spot Number 28. Extra storage on same floor. Note - One buyer must be over 55 years old.

33. 2022-10-07
    status Active 508-char remark

    Show marketing remark (508 chars)

    Beautiful Corner Unit located in Eden Isles in the lovely neighborhood of Eastern Shores! Unit is in perfect move in condition. Beautiful laminate floors through out. Split bedroom floor plan. Very spacious rooms with walk in closets. Eastern Shores is located in fabulous residential neighborhood with 24 hour guard house - walking distance to supermarket, stores, restaurants, beach, Oleta Park and much more. Parking spot Number 28. Extra storage on same floor. Note - One buyer must be over 55 years old.

34. 2022-09-07
    historical Active Under Contract 508-char remark

    Show marketing remark (508 chars)

    Beautiful Corner Unit located in Eden Isles in the lovely neighborhood of Eastern Shores! Unit is in perfect move in condition. Beautiful laminate floors through out. Split bedroom floor plan. Very spacious rooms with walk in closets. Eastern Shores is located in fabulous residential neighborhood with 24 hour guard house - walking distance to supermarket, stores, restaurants, beach, Oleta Park and much more. Parking spot Number 28. Extra storage on same floor. Note - One buyer must be over 55 years old.

35. 2022-08-25
    price $259,000 508-char remark

    Show marketing remark (508 chars)

    Beautiful Corner Unit located in Eden Isles in the lovely neighborhood of Eastern Shores! Unit is in perfect move in condition. Beautiful laminate floors through out. Split bedroom floor plan. Very spacious rooms with walk in closets. Eastern Shores is located in fabulous residential neighborhood with 24 hour guard house - walking distance to supermarket, stores, restaurants, beach, Oleta Park and much more. Parking spot Number 28. Extra storage on same floor. Note - One buyer must be over 55 years old.

36. 2022-08-08
    listed $265,000 Active 508-char remark

    Show marketing remark (508 chars)

    Beautiful Corner Unit located in Eden Isles in the lovely neighborhood of Eastern Shores! Unit is in perfect move in condition. Beautiful laminate floors through out. Split bedroom floor plan. Very spacious rooms with walk in closets. Eastern Shores is located in fabulous residential neighborhood with 24 hour guard house - walking distance to supermarket, stores, restaurants, beach, Oleta Park and much more. Parking spot Number 28. Extra storage on same floor. Note - One buyer must be over 55 years old.

37. 2022-08-08
    historical

    Show marketing remark (508 chars)

    Beautiful Corner Unit located in Eden Isles in the lovely neighborhood of Eastern Shores! Unit is in perfect move in condition. Beautiful laminate floors through out. Split bedroom floor plan. Very spacious rooms with walk in closets. Eastern Shores is located in fabulous residential neighborhood with 24 hour guard house - walking distance to supermarket, stores, restaurants, beach, Oleta Park and much more. Parking spot Number 28. Extra storage on same floor. Note - One buyer must be over 55 years old.

38. 2022-07-27
    price $265,000
39. 2022-06-21
    listed $279,000 Active
40. 2002-04-16
    soldstatus $87,000
41. 1995-10-13
    soldstatus $42,000

ⓘ 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: $4,810 · $401/mo
• Projected year-2 tax: $4,810 · $401/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: $46,988
• − Mortgage interest: −$14,564
• − Property taxes: −$4,810
• − Insurance: −$6,418
• − Repairs & maintenance: −$3,759
• − Management: −$3,759
• − HOA: −$7,680
• − Depreciation: −$7,564
• Taxable loss: −$1,566
• Est. tax savings @ 24.0%: +$376
• After-tax cash flow: $2,227/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): 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

+519.0% since first listed

28 events — show timeline

• 2026-01-07 Price Changed $259,999 MARMLS
• 2025-12-01 Listed $279,999 MARMLS
• 2025-03-27 Rental Removed $2,499 MARMLS
• 2024-09-24 Listed for Rent $2,499 MARMLS
• 2024-09-05 Rental Removed $2,499 REALLYO
• 2024-08-31 Listed for Rent $2,499 REALLYO
• 2024-08-31 Rental Removed $2,499 REALLYO
• 2024-08-30 Listed for Rent $2,499 REALLYO
• 2024-08-30 Rental Removed $2,499 REALLYO
• 2024-08-28 Listed for Rent $2,499 REALLYO
• 2024-08-28 Rental Removed $2,499 MARMLS
• 2024-07-24 Listed for Rent $2,499 MARMLS
• 2024-07-24 Rental Removed $2,500 MARMLS
• 2024-02-13 Listed for Rent $2,500 MARMLS
• 2024-01-29 Rental Removed $2,500 MARMLS
• 2023-10-08 Listed for Rent $2,500 MARMLS
• 2022-11-10 Sold (Public Records) $250,000 Public Records
• 2022-11-04 Sold (MLS) $250,000 MARMLS
• 2022-10-18 Pending — MARMLS
• 2022-10-07 Relisted — MARMLS
• 2022-09-07 Contingent — MARMLS
• 2022-08-25 Price Changed $259,000 MARMLS
• 2022-08-08 Listing Removed — MARMLS
• 2022-08-08 Listed $265,000 MARMLS
• 2022-07-27 Price Changed $265,000 MARMLS
• 2022-06-21 Listed $279,000 MARMLS
• 2002-04-16 Sold (Public Records) $87,000 Public Records
• 1995-10-13 Sold (Public Records) $42,000 Public Records

Property tax history

+18.3%/yr

Latest (2025): $4,810 · -3.5% YoY. Source: county tax records.