16204 NE 18th Ct · North Miami Beach, FL 33162

$625,000

4 bd · 2.0 ba · 1,375 sqft · MultiFamily public records · 398 Days on market

Built 1952

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

A must see duplex, each side has 2 bedrooms and 1 bath, updated including new roof in November 2021, ideal for investor or owner who wants to live in one side and rent the other. It will easily rent for $2500 each side and the CAP rate will be 7%. Easy to show on a lockbox

Key facts

• Built-in bbq grill
• Built 1952
• Listed 397 days

Tags

• NEWLY RENOVATED INTERIORS
• BUILT-IN BBQ GRILL

Property features AI

Finance

• Other: Zoning: 3800
• Financial info: Two units on the property; Units are unfurnished; Reported actual rent for a unit: $2,400
• HOA & community: No HOA information listed

Exterior

• Parking: On-street parking
• Security: No security features listed
• Utilities: Public sewer; Cable available; Hot water included with rent; Water service included with rent; Sewer service included with rent
• Home design: Single-story building; Resale property; Shingle roof; Block construction
• Construction: Built with block construction; Shingle roof
• Exterior features: Quarter- to half-acre lot; On-street parking

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two-bedroom units (each unit has 2 bedrooms)
• Flooring: Laminate flooring
• Bathrooms: One full bathroom per unit
• Heating & cooling: Electric heating; Wall furnace; Ceiling fans; Wall/window air conditioning units
• Interior features: Impact glass windows
• Laundry & utility: No specific laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $625k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $787/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $625k).
• Recommended offer: $550k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 $7,168/mo this rent would consume 142% 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 $4k of loan paydown is wiped out by about $19k 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.

Negotiation context

• It's been on market 398 days — a 12% lower offer ($550k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $550,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 398 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.15% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.80%
• DSCR: 1.48
• GRM: 7.3

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-22,048
• Equity at exit: $93,190

10-year hold

• IRR: 2.6%
• Equity multiple: 1.16×
• Total profit: $28,594
• Equity at exit: $54,039

Cash invested: $175,000 (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: 14.5×

Monthly cashflow live

• Estimated rent: $7,168 medium
• Mortgage (P&I): −$3,278
• Tax from tax record: −$550 /mo · $6,605/yr
• Insurance: −$260
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,505
• Net cashflow: $1,574

Break-even live

Break-even rent $5,175

Max offer price $625,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,928	-5% $1,751	+0% $1,574	+5% $1,397	+10% $1,221
Rent	-10% $1,008	-5% $1,291	+0% $1,574	+5% $1,857	+10% $2,141
Rate	-1.0pp $1,889	-0.5pp $1,733	base $1,574	+0.5pp $1,412	+1.0pp $1,248

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$7,168
Total (2 units)			$7,168

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $625,000 Active 398 DOM
2. 2026-06-17
   days on market $625,000 Active 397 DOM
3. 2026-06-16
   days on market $625,000 Active 396 DOM
4. 2026-06-15
   days on market $625,000 Active 395 DOM
5. 2026-06-13
   days on market $625,000 Active 393 DOM
6. 2026-06-09
   days on market $625,000 Active 389 DOM
7. 2026-06-08
   days on market $625,000 Active 388 DOM
8. 2026-06-08
   days on market $625,000 Active 387 DOM
9. 2026-06-04
   days on market $625,000 Active 384 DOM
10. 2026-06-03
    days on market $625,000 Active 383 DOM
11. 2026-06-02
    days on market $625,000 Active 382 DOM
12. 2026-06-01
    days on market $625,000 Active 381 DOM
13. 2026-05-31
    days on market $625,000 Active 380 DOM
14. 2026-05-13
    price $625,000
15. 2025-12-03
    price $633,000
16. 2025-11-19
    status Active
17. 2025-09-29
    historical Active Under Contract
18. 2025-07-03
    status Active
19. 2025-06-12
    historical Active Under Contract
20. 2025-05-16
    listed $649,000 Active
21. 2023-09-08
    soldstatus $585,000
22. 2023-08-25
    soldstatus $585,000 Closed 273-char remark

    Show marketing remark (273 chars)

    A must see duplex, each side has 2 bedrooms and 1 bath, updated including new roof in November 2021, ideal for investor or owner who wants to live in one side and rent the other. It will easily rent for $2500 each side and the CAP rate will be 7%. Easy to show on a lockbox

23. 2023-08-07
    status Pending 273-char remark

    Show marketing remark (273 chars)

    A must see duplex, each side has 2 bedrooms and 1 bath, updated including new roof in November 2021, ideal for investor or owner who wants to live in one side and rent the other. It will easily rent for $2500 each side and the CAP rate will be 7%. Easy to show on a lockbox

24. 2023-06-01
    listed $739,000 Active 273-char remark

    Show marketing remark (273 chars)

    A must see duplex, each side has 2 bedrooms and 1 bath, updated including new roof in November 2021, ideal for investor or owner who wants to live in one side and rent the other. It will easily rent for $2500 each side and the CAP rate will be 7%. Easy to show on a lockbox

25. 2022-08-01
    historical
26. 2022-03-07
    listed $459,000 Active
27. 2022-02-17
    historical
28. 2021-12-07
    price $439,000
29. 2021-10-05
    price $409,000
30. 2021-08-17
    listed $439,000 Active
31. 2003-09-29
    soldstatus $164,000
32. 1999-10-08
    soldstatus $98,000
33. 1977-11-01
    soldstatus $40,000
34. 1972-10-01
    soldstatus $37,500

ⓘ 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: $6,605 · $550/mo
• Projected year-2 tax: $6,605 · $550/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $86,016
• − Mortgage interest: −$35,010
• − Property taxes: −$6,605
• − Insurance: −$3,125
• − Repairs & maintenance: −$6,881
• − Management: −$6,881
• − Depreciation: −$18,182
• Taxable income: $9,332
• Est. tax owed @ 24.0%: −$2,240
• After-tax cash flow: $16,652/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

+1566.7% since first listed

21 events — show timeline

• 2026-05-13 Price Changed $625,000 MARMLS
• 2025-12-03 Price Changed $633,000 MARMLS
• 2025-11-19 Relisted — MARMLS
• 2025-09-29 Contingent — MARMLS
• 2025-07-03 Relisted — MARMLS
• 2025-06-12 Contingent — MARMLS
• 2025-05-16 Listed $649,000 MARMLS
• 2023-09-08 Sold (Public Records) $585,000 Public Records
• 2023-08-25 Sold (MLS) $585,000 MARMLS
• 2023-08-07 Pending — MARMLS
• 2023-06-01 Listed $739,000 MARMLS
• 2022-08-01 Listing Removed — MARMLS
• 2022-03-07 Listed $459,000 MARMLS
• 2022-02-17 Listing Removed — MARMLS
• 2021-12-07 Price Changed $439,000 MARMLS
• 2021-10-05 Price Changed $409,000 MARMLS
• 2021-08-17 Listed $439,000 MARMLS
• 2003-09-29 Sold (Public Records) $164,000 Public Records
• 1999-10-08 Sold (Public Records) $98,000 Public Records
• 1977-11-01 Sold (Public Records) $40,000 Public Records
• 1972-10-01 Sold (Public Records) $37,500 Public Records

Property tax history

+7.6%/yr

Latest (2025): $6,605 · -12.1% YoY. Source: county tax records.