231 174th St #1611 · Sunny Isles Beach, FL 33160

$373,500

1 bd · 1.0 ba · 1,104 sqft · Condo public records · 32 Days on market

Built 1974 $492/mo HOA · 12% of rent

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Why this score? — see what drove the C- 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 +16.7/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Appreciation +5.3/10.0
• DSCR +5.2/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Panoramic ocean, bay, and city views from this spacious 1BD/1.5BA residence in a prime Sunny Isles Beach location! This bright unit offers a great floor plan with expansive windows that fill the space with natural light and showcase views of the Atlantic Ocean, Intracoastal, and skyline. Renovated years ago but well maintained, clean, and ready for a new owner. Features include tile floors throughout, granite kitchen countertops, large walk-in closet, Murphy bed in the living room for guests, and a balcony recently finished with new flooring. Well-maintained building with low HOA fees. 40-year recertification is complete and 50-year recertification is in progress. Amenities include pool, gy

Key facts

• Expansive windows
• Murphy bed
• New flooring balcony

Tags

• EXPANSIVE WINDOWS
• GRANITE KITCHEN COUNTERTOPS
• LARGE WALK-IN CLOSET
• MURPHY BED
• NEW FLOORING BALCONY
• POOL GYM SAUNA

Property features AI

Finance

• Other: Association-maintained pool
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee includes management, amenities, grounds maintenance, pest control, pool(s), security, trash, and water; Association amenities include billiard room, clubhouse, fitness center, laundry, and pool

Exterior

• Parking: One covered parking space; 1-car garage
• Security: Key card entry; Secured lobby; Security guard
• Utilities: Cable available
• Home design: Condominium in a 24-story building; Entry on level 16; Property is attached
• Construction: Block construction; Resale property
• Exterior features: Courtyard; Has a view

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Bedroom on main level; Ceramic tile flooring
• Laundry & utility: Laundry in a common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $374k.

Deal economics

• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (9.3% below list).
• Meets the 1% rule at list price ($4k rent vs $374k).
• Recommended offer: $339k (9.3% below list) — sets the bar for cash-flow.
• Cap rate 7.0% vs local median 0.8% in Sunny Isles 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 86/100 on livability (#20 in FL, #434 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, health & safety A+; Watch: housing C-, cost of living 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 $4,019/mo this rent would consume 72% 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 $5k of equity ($3k 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 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($362k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y 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 $285k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $338,894 (9.3% 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 32 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.08% ✓
• Cap rate: 7.03%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• GRM: 7.7

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: -4.3%
• Equity multiple: 0.79×
• Total profit: $-21,672
• Equity at exit: $118,397

10-year hold

• IRR: -0.4%
• Equity multiple: 0.95×
• Total profit: $-5,056
• Equity at exit: $150,518

Cash invested: $104,580 (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: 7.7×

Monthly cashflow live

• Estimated rent: $4,019 medium
• Mortgage (P&I): −$1,959
• Tax from tax record: −$338 /mo · $4,059/yr
• Insurance: −$156
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$492
• Vacancy / Maint / Mgmt: −$844
• Net cashflow: $-196

Break-even live

Break-even rent $4,267

Max offer price $338,894

Occupancy floor 100%

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: $93,375
• Closing costs: $11,205
• 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	1.12mi

HOA detail condo

• Monthly dues: $492 · $5,904/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $373,500 Active 32 DOM
2. 2026-06-17
   days on market $373,500 Active 31 DOM
3. 2026-06-16
   days on market $373,500 Active 30 DOM
4. 2026-06-15
   days on market $373,500 Active 29 DOM
5. 2026-06-13
   days on market $373,500 Active 27 DOM
6. 2026-06-09
   days on market $373,500 Active 23 DOM
7. 2026-06-08
   days on market $373,500 Active 22 DOM
8. 2026-06-07
   days on market $373,500 Active 21 DOM
9. 2026-06-04
   days on market $373,500 Active 18 DOM
10. 2026-06-03
    days on market $373,500 Active 17 DOM
11. 2026-06-02
    days on market $373,500 Active 16 DOM
12. 2026-06-01
    days on market $373,500 Active 15 DOM
13. 2026-05-31
    days on market $373,500 Active 14 DOM
14. 2026-05-08
    listed $373,500 Active
15. 2026-04-30
    historical
16. 2026-03-07
    price $374,000
17. 2025-07-19
    listed $389,000 Active
18. 2023-08-20
    historical
19. 2023-08-20
    status Active
20. 2023-05-17
    listed $419,000 Active
21. 2023-01-03
    soldstatus $285,000
22. 2022-12-27
    soldstatus $285,000 Closed
23. 2022-11-17
    historical Active Under Contract
24. 2022-10-31
    listed $369,900 Active
25. 2020-11-16
    historical
26. 2020-10-05
    listed $280,000 Active
27. 2017-07-10
    soldstatus $250,000
28. 2017-07-05
    soldstatus $250,000 Sold
29. 2017-05-22
    status Pending
30. 2017-03-21
    historical
31. 2017-01-26
    price $260,000
32. 2016-12-30
    listed $265,000 Active
33. 1995-06-20
    soldstatus $79,000
34. 1977-04-01
    soldstatus $35,500

ⓘ 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: $4,059 · $338/mo
• Projected year-2 tax: $4,059 · $338/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 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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: $48,230
• − Mortgage interest: −$20,922
• − Property taxes: −$4,059
• − Insurance: −$6,986
• − Repairs & maintenance: −$3,858
• − Management: −$3,858
• − HOA: −$5,904
• − Depreciation: −$10,865
• Taxable loss: −$8,222
• Est. tax savings @ 24.0%: +$1,973
• After-tax cash flow: $-377/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 — Sunny Isles Beach

• Score: 86/100
• State rank: #20
• US rank: #434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunny Isles 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

+952.1% since first listed

21 events — show timeline

• 2026-05-08 Listed $373,500 MARMLS
• 2026-04-30 Listing Removed — MARMLS
• 2026-03-07 Price Changed $374,000 MARMLS
• 2025-07-19 Listed $389,000 MARMLS
• 2023-08-20 Listing Removed — MARMLS
• 2023-08-20 Relisted — MARMLS
• 2023-05-17 Listed $419,000 MARMLS
• 2023-01-03 Sold (Public Records) $285,000 Public Records
• 2022-12-27 Sold (MLS) $285,000 MARMLS
• 2022-11-17 Contingent — MARMLS
• 2022-10-31 Listed $369,900 MARMLS
• 2020-11-16 Listing Removed — MARMLS
• 2020-10-05 Listed $280,000 MARMLS
• 2017-07-10 Sold (Public Records) $250,000 Public Records
• 2017-07-05 Sold (MLS) $250,000 MARMLS
• 2017-05-22 Pending — MARMLS
• 2017-03-21 Listing Removed — MARMLS
• 2017-01-26 Price Changed $260,000 MARMLS
• 2016-12-30 Listed $265,000 MARMLS
• 1995-06-20 Sold (Public Records) $79,000 Public Records
• 1977-04-01 Sold (Public Records) $35,500 Public Records

Property tax history

+13.5%/yr

Latest (2025): $4,059 · -10.4% YoY. Source: county tax records.