16851 NE 23rd Ave Unit A408 · North Miami Beach, FL 33160

$134,000

1 bd · 1.0 ba · 720 sqft · Condo public records · 147 Days on market

Built 1973 Good condition Garage $186/sqft · 10% below area Est $149k · 10% under $501/mo HOA · 20% of rent

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Why this score? — see what drove the A- 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
• ARV discount +12.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.3/10.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.7/5.0

Listing remarks

This spacious 1-bedroom, 1-bath residence at Woodside offers comfort, convenience, and value in the heart of North Miami Beach. The unit features a brand-new bathroom, new A/C, hurricane-impact windows, and a bright, open layout with a peaceful garden-facing exposure. Located in a gated building with secure lobby access, community pool, laundry facilities, elevator, and assigned parking. Just minutes from Biscayne Blvd, 163rd Street, Aventura Mall, shopping, dining, and everyday essentials. VS pictures.

Key facts

• Secure lobby access
• Brand new bathroom
• Community pool

Tags

• BRAND NEW BATHROOM
• HURRICANE IMPACT WINDOWS
• COMMUNITY POOL
• SECURE LOBBY ACCESS
• GARDEN FACING EXPOSURE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $134k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $134k).
• Recommended offer: $118k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.8% 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.
• Zoned schools: Fulford Elementary School (math 40% / reading 35%, grade F, #1,596 of 2,144 statewide, top 75%, 461 students, 64% FRL); John F. Kennedy Middle School (math 47% / reading 55%, grade C, #237 of 571 statewide, top 43%, 1,074 students, 67% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL) — zoned schools at 66% FRL track the district average.
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-14 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 2152 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($926 loan paydown + $706 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.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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 $70k; list at $134k implies a 91% gain — meaningful room to come down on a strong offer.

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 $117,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 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 1973 — 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. 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: 1.91% ✓
• Cap rate: 11.14%
• Cash-on-cash: 17.30%
• DSCR: 1.77
• GRM: 4.4

CMA / ARV

• ARV (median comp): $149,404
• List price: $134,000
• Delta: -10.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16851 NE 23rd Ave Unit A212	0.00mi	1/1.0	720 (0%)	0mo	$134,500	$187	100
2025 NE 164th St #1015	0.34mi	1/1.5	790 (+10%)	0mo	$110,000	$139	66
3010 Marcos Dr Unit R111	0.97mi	1/1.0	768 (+7%)	2mo	$120,000	$156	52
2841 NE 163rd St #1211	0.82mi	1/1.5	790 (+10%)	0mo	$230,000	$291	47
2841 NE 163 St #102	0.82mi	1/1.5	785 (+9%)	4mo	$169,000	$215	44
3551 NE 169th St #105	1.21mi	1/1.0	812 (+13%)	0mo	$199,999	$246	44
3600 NE 170th St #404	1.26mi	1/1.5	812 (+13%)	0mo	$180,000	$222	42
1735 NE 164th St Unit A-302	0.66mi	1/1.0	557 (-23%)	5mo	$150,000	$269	40
1554 NE 154th Ter	1.23mi	2/1.0 (+1)	812 (+13%)	2mo	$329,000	$405	37
3849 NE 169th St #302	1.41mi	1/1.5	812 (+13%)	6mo	$300,000	$369	37
3703 NE 166th St #1009	1.28mi	1/1.5	898 (+25%)	6mo	$192,000	$214	33
15770 NE 18th Ct	0.82mi	2/1.0 (+1)	830 (+15%)	4mo	$365,000	$440	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.06×
• Total profit: $2,165
• Equity at exit: $42,477

10-year hold

• IRR: 3.8%
• Equity multiple: 1.40×
• Total profit: $14,877
• Equity at exit: $54,001

Cash invested: $37,520 (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 →

Active competition Active MLS

• For sale now: 3 active · 2 under contract
• Median asking: $125,000 ($158/sqft)
• Median days on market: 355 d
• This list price: 67% of active listings are priced below it
• ARV vs active asking: +31.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 2152
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,556 medium
• Mortgage (P&I): −$703
• Tax from tax record: −$219 /mo · $2,628/yr
• Insurance: −$56
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$501
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $114

Break-even live

Break-even rent $2,412

Max offer price $134,000

Occupancy floor 91%

Sensitivity live

Price	-10% $190	-5% $152	+0% $114	+5% $76	+10% $38
Rent	-10% $-88	-5% $13	+0% $114	+5% $215	+10% $316
Rate	-1.0pp $182	-0.5pp $148	base $114	+0.5pp $80	+1.0pp $44

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: $33,500
• Closing costs: $4,020
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: HOA with monthly feeAssociation amenities include laundry, parking, pool, heated pool, and maintenanceHOA fee paid monthly

Exterior

• Parking: Assigned parkingCovered parking (1 covered space)Detached garage1 garage space (total parking 2)
• Security: Fire alarm
• Utilities: Public waterPublic sewerElectricity connectedWater connectedSewer connected
• Home design: Condominium6-story buildingResale conditionFaces north
• Construction: Block constructionConcrete roofBuilt as part of a multi-story building
• Exterior features: Not waterfront

Interior

• Kitchen: DishwasherElectric rangeRefrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Tile
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: DishwasherElectric rangeRefrigeratorTile flooringCommon-area laundryFire alarm
• Laundry & utility: Common-area laundry

HOA detail $501/mo · $6,012/yr condo

• Likely covers: poolsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $134,000 Active 147 DOM
2. 2026-08-06
   days on market $134,000 Active 145 DOM
3. 2026-08-05
   days on market $134,000 Active 144 DOM
4. 2026-08-04
   days on market $134,000 Active 143 DOM
5. 2026-08-03
   days on market $134,000 Active 142 DOM
6. 2026-07-31
   days on market $134,000 Active 139 DOM
7. 2026-07-28
   days on market $134,000 Active 136 DOM
8. 2026-07-24
   days on market $134,000 Active 132 DOM
9. 2026-07-23
   days on market $134,000 Active 131 DOM
10. 2026-07-22
    days on market $134,000 Active 130 DOM
11. 2026-07-21
    days on market $134,000 Active 129 DOM
12. 2026-07-20
    days on market $134,000 Active 128 DOM
13. 2026-07-18
    days on market $134,000 Active 126 DOM
14. 2026-07-16
    days on market $134,000 Active 124 DOM
15. 2026-07-15
    days on market $134,000 Active 123 DOM
16. 2026-07-13
    days on market $134,000 Active 121 DOM
17. 2026-07-13
    days on market $134,000 Active 120 DOM
18. 2026-07-11
    days on market $134,000 Active 119 DOM
19. 2026-07-10
    days on market $134,000 Active 118 DOM
20. 2026-07-09
    days on market $134,000 Active 117 DOM
21. 2026-07-07
    days on market $134,000 Active 115 DOM
22. 2026-07-06
    days on market $134,000 Active 114 DOM
23. 2026-07-06
    days on market $134,000 Active 113 DOM
24. 2026-07-05
    days on market $134,000 Active 112 DOM
25. 2026-07-04
    days on market $134,000 Active 111 DOM
26. 2026-07-02
    days on market $134,000 Active 110 DOM
27. 2026-07-01
    days on market $134,000 Active 109 DOM
28. 2026-06-30
    days on market $134,000 Active 108 DOM
29. 2026-06-29
    days on market $134,000 Active 107 DOM
30. 2026-06-28
    days on market $134,000 Active 106 DOM
31. 2026-06-27
    days on market $134,000 Active 105 DOM
32. 2026-06-26
    days on market $134,000 Active 104 DOM
33. 2026-06-24
    days on market $134,000 Active 102 DOM
34. 2026-06-22
    days on market $134,000 Active 100 DOM
35. 2026-06-21
    days on market $134,000 Active 99 DOM
36. 2026-06-18
    days on market $134,000 Active 96 DOM
37. 2026-06-17
    pricedays on market $134,000 Active 95 DOM
38. 2026-06-16
    days on market $139,000 Active 94 DOM
39. 2026-06-15
    days on market $139,000 Active 93 DOM
40. 2026-06-13
    days on market $139,000 Active 91 DOM
41. 2026-06-09
    days on market $139,000 Active 87 DOM
42. 2026-06-08
    days on market $139,000 Active 86 DOM
43. 2026-06-07
    days on market $139,000 Active 85 DOM
44. 2026-06-04
    days on market $139,000 Active 82 DOM
45. 2026-06-03
    days on market $139,000 Active 81 DOM
46. 2026-06-02
    days on market $139,000 Active 80 DOM
47. 2026-06-01
    days on market $139,000 Active 79 DOM
48. 2026-05-31
    days on market $139,000 Active 78 DOM
49. 2026-03-14
    listed $139,000 Active
50. 2026-03-12
    historical

ⓘ 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: $2,628 · $219/mo
• Projected year-2 tax: $2,628 · $219/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 7/10 Severe FEMA zone AE · 87% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $30,675
• − Mortgage interest: −$7,506
• − Property taxes: −$2,628
• − Insurance: −$5,788
• − Repairs & maintenance: −$2,454
• − Management: −$2,454
• − HOA: −$6,012
• − Depreciation: −$3,898
• Taxable loss: −$66
• Est. tax savings @ 24.0%: +$16
• After-tax cash flow: $1,388/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.

Condition & rehab AI · 10 photos

Good 80/100 Cosmetic rehab Est. rehab $3,600–$10,800 screening

This 1-bedroom, 1-bath unit in a gated building offers a good condition with recent updates and a peaceful garden-facing exposure. It is located in a prime location with easy access to shopping, dining, and everyday essentials.

Components & finishes AI

Flooring tile Counters granite Appliances white

Deferred maintenance Est. $10,000–$30,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — No roof material or condition visible, but the building appears old and in need of repair.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value. ↑
• Both Clean windows — Improves natural light and aesthetics, boosting both resale and rental value. ↑
• Resale Replace countertops — Modernizes the kitchen and adds value for potential buyers. ↑
• Rental Upgrade lighting — Enhances the living space and attracts tenants. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental purposes. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary Fulford Elementary School F FL #1,596/2,144 Nat'l #21,283/41,679 Middle John F. Kennedy Middle School C FL #237/571 Nat'l #3,276/14,009 High North Miami Beach Senior High F FL #568/667 Nat'l #14,713/17,239

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

A Composite livability gradescore 82/100

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 · 3,126,439 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: 17% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: HOA with monthly feeAssociation amenities include laundry, parking, pool, heated pool, and maintenanceHOA fee paid monthly

Exterior

• Parking: Assigned parkingCovered parking (1 covered space)Detached garage1 garage space (total parking 2)
• Security: Fire alarm
• Utilities: Public waterPublic sewerElectricity connectedWater connectedSewer connected
• Home design: Condominium6-story buildingResale conditionFaces north
• Construction: Block constructionConcrete roofBuilt as part of a multi-story building
• Exterior features: Not waterfront

Interior

• Kitchen: DishwasherElectric rangeRefrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Tile
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: DishwasherElectric rangeRefrigeratorTile flooringCommon-area laundryFire alarm
• Laundry & utility: Common-area laundry

Price history

+436.7% since first listed

16 events — show timeline

• 2026-03-14 Listed $139,000 Beaches MLS
• 2026-03-12 Listing Removed — MARMLS
• 2026-03-01 Listed $145,000 MARMLS
• 2019-03-19 Listing Removed — MARMLS
• 2018-11-20 Price Changed $110,000 MARMLS
• 2018-09-20 Listed $115,000 MARMLS
• 2018-09-16 Listing Removed — MARMLS
• 2018-06-11 Relisted — MARMLS
• 2018-05-14 Pending — MARMLS
• 2018-03-16 Listed $110,000 MARMLS
• 2017-08-24 Sold (MLS) $70,000 MARMLS
• 2017-08-22 Sold (Public Records) $70,000 Public Records
• 2017-07-07 Pending — MARMLS
• 2017-07-03 Listed $76,900 MARMLS
• 1985-03-01 Sold (Public Records) $31,000 Public Records
• 1973-12-01 Sold (Public Records) $25,900 Public Records

Property tax history

+9.6%/yr

Latest (2025): $2,628 · +4.2% YoY. Source: county tax records.