3601 NE 170th St Unit 301 - DOCK INCLUDED · North Miami Beach, FL 33160

$349,000

2 bd · 1.0 ba · 1,042 sqft · Condo public records · 5 Days on market

Built 1974 $815/mo HOA · 21% 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 +16.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Appreciation +5.3/10.0
• DSCR +5.1/10.0
• Schools +5.0/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

CORNER UNIT AND DOCK SPACE!!!! Gorgeous is an understatement! Move-in ready 2-bedroom, waterfront condo located in the exclusive Eastern Shores community, just off the Intracoastal Waterway. The unit is very bright and offers spectacular water views from a spacious private balcony and a generous living area. DOCK UP TO 30 Feet!!!! The building features a common dock for the exclusive use of homeowners, with dockage available for boats up to 30 feet . Enjoy direct ocean access with no fixed bridges and deep water—ideal for boating enthusiasts. Building has completed the 40 year and 50 year recertification! Additional highlights include a 24/7 guard-gated community, assigned parking spa

Key facts

• Water views
• Private balcony
• Dock space

Tags

• DOCK SPACE
• WATER VIEWS
• PRIVATE BALCONY
• DIRECT OCEAN ACCESS
• GUARD GATED COMMUNITY
• ASSIGNED PARKING

Property features AI

Finance

• Other: Waterfront property with canal access; Association pool
• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association fee includes hot water, insurance, laundry, legal/accounting, parking, and pest control; Association amenities include clubhouse and pool

Exterior

• Parking: Assigned covered parking; Attached garage; 1 garage space
• Security: Intercom; Key card entry; Security guard
• Utilities: Cable available; Central electric cooling; Electric water heater
• Home design: One-story unit within a multi-story building; Property is attached; Has a view; Entry located on level 3
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/porch

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Icemaker; Electric water heater
• Bedrooms: Bedroom located on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Sliding windows; Closet cabinetry; Dining area; Separate/formal dining room; Bedroom on main level
• Laundry & utility: Laundry included in association amenities

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-228 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $309k (11.5% below list).
• Meets the 1% rule at list price ($4k rent vs $349k).
• Recommended offer: $309k (11.5% below list) — sets the bar for cash-flow.
• Cap rate 7.0% 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.
• 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 $3,920/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 $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 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $85k; list at $349k implies a 311% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% of rent.
• 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 $308,705 (11.5% 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. Built in 1974 — 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. 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.12% ✓
• Cap rate: 6.98%
• Cash-on-cash: 2.44%
• DSCR: 1.11
• GRM: 7.4

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: -5.0%
• Equity multiple: 0.76×
• Total profit: $-23,345
• Equity at exit: $110,631

10-year hold

• IRR: -1.1%
• Equity multiple: 0.88×
• Total profit: $-11,983
• Equity at exit: $140,645

Cash invested: $97,720 (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: 7.4×

Monthly cashflow live

• Estimated rent: $3,920 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$108 /mo · $1,295/yr
• Insurance: −$145
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$815
• Vacancy / Maint / Mgmt: −$823
• Net cashflow: $-228

Break-even live

Break-even rent $4,209

Max offer price $308,705

Occupancy floor —

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: $87,250
• Closing costs: $10,470
• 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	1.37mi

HOA detail condo

• Monthly dues: $815 · $9,780/yr
• Likely covers: watersecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $349,000 Active 5 DOM
2. 2026-06-17
   days on market $349,000 Active 4 DOM
3. 2026-06-16
   days on market $349,000 Active 3 DOM
4. 2026-06-15
   days on marketlisting id $349,000 Active 2 DOM
5. 2026-06-13
   days on market $349,000 Active 40 DOM
6. 2026-06-09
   days on market $349,000 Active 36 DOM
7. 2026-06-08
   days on market $349,000 Active 35 DOM
8. 2026-06-07
   days on market $349,000 Active 34 DOM
9. 2026-06-04
   days on market $349,000 Active 31 DOM
10. 2026-06-03
    days on market $349,000 Active 30 DOM
11. 2026-06-02
    days on market $349,000 Active 29 DOM
12. 2026-06-01
    days on market $349,000 Active 28 DOM
13. 2026-05-31
    days on market $349,000 Active 27 DOM
14. 2026-05-04
    historical
15. 2026-05-04
    listed $349,000 Active
16. 2026-02-08
    price $349,000
17. 2026-01-23
    listed $365,000 Active
18. 2002-04-17
    soldstatus $85,000
19. 1986-02-01
    soldstatus $53,000
20. 1982-03-01
    soldstatus $50,000

ⓘ 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: $1,295 · $108/mo
• Projected year-2 tax: $2,897 · $241/mo
• Expected delta: +$1,602/yr (+$133/mo · 123.7%)

ⓘ 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: $47,043
• − Mortgage interest: −$19,549
• − Property taxes: −$1,295
• − Insurance: −$6,864
• − Repairs & maintenance: −$3,763
• − Management: −$3,763
• − HOA: −$9,780
• − Depreciation: −$10,153
• Taxable loss: −$8,125
• Est. tax savings @ 24.0%: +$1,950
• After-tax cash flow: $-787/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)

No district data.

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

+598.0% since first listed

7 events — show timeline

• 2026-05-04 Listed $349,000 MARMLS
• 2026-05-04 Listing Removed — MARMLS
• 2026-02-08 Price Changed $349,000 MARMLS
• 2026-01-23 Listed $365,000 MARMLS
• 2002-04-17 Sold (Public Records) $85,000 Public Records
• 1986-02-01 Sold (Public Records) $53,000 Public Records
• 1982-03-01 Sold (Public Records) $50,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,295 · +8.9% YoY. Source: county tax records.