3551 NE 169th St #105 · North Miami Beach, FL 33160

$189,999

1 bd · 1.0 ba · 812 sqft · Condo public records · 46 Days on market

Built 1969 $540/mo HOA · 15% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Own a fully renovated, cozy, and bright unit with marble floor throughout, a large beautiful kitchen with granite counter, screened balcony with shutters, and beautiful channel view. Amenities include heated pool, club house, billiard and game room. Association includes water, trash removal, cable and internet. This complex is inside a gate community in Easter Shore. It is 1.5 miles to the beach, walking distance to shopping centers, restaurants, and cinema. Also very close to Sunny Isles, Aventura Mall, Aventura Hospital, and highway access. 55+ COMMUNITY.

Key facts

• Dockage available
• Screened balcony
• Custom closets

Tags

• FIRST-FLOOR GARDEN HOME
• FULLY REMODELED KITCHEN
• CUSTOM CLOSETS
• HIGH-IMPACT ENTRY DOOR
• SCREENED BALCONY
• DOCKAGE AVAILABLE

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association fee includes management, internet, grounds and structure maintenance, parking, pest control, pool(s), and reserve fund; Association amenities include boat dock, marina, business center, clubhouse, fitness center, laundry, pier, pool, storage, transportation service, and elevators; Senior community

Exterior

• Parking: 1 covered garage space; Guest parking available; One additional parking space
• Security: Elevator secured; Fire alarm; Security guard; Smoke detectors
• Utilities: Cable available; Municipal water and sewer (standard utilities implied)
• Home design: Condominium/attached property; 4-story building; Entry on level 1; Updated/remodeled condition
• Construction: Brick veneer and block construction; Resale property
• Exterior features: Balcony; Patio; Screened patio; Security/high impact doors; Exterior lighting; Association pool (heated); Heated association pool; Canal access and canal-front navigable water; Has a view

Interior

• Kitchen: Dishwasher; Microwave; Self-cleaning oven; Electric water heater
• Bedrooms: Bedroom located on the main level
• Flooring: Marble flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Unfurnished; Bedroom on main level; Breakfast area; Closet cabinetry; Eat-in kitchen; First floor entry; Living/dining room; Main level primary; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $564 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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; 1878 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,589/mo this rent would consume 64% 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 $2k of equity ($1k 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.
• At projected returns (0.5% appreciation + 0.9% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $150k; 27% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,299 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.89% ✓
• Cap rate: 12.55%
• Cash-on-cash: 22.34%
• DSCR: 1.99
• GRM: 4.4

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: 11.1%
• Equity multiple: 1.53×
• Total profit: $28,456
• Equity at exit: $60,228

10-year hold

• IRR: 13.3%
• Equity multiple: 2.42×
• Total profit: $75,347
• Equity at exit: $76,569

Cash invested: $53,200 (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: 1878
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $3,589 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$230 /mo · $2,757/yr
• Insurance: −$79
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$540
• Vacancy / Maint / Mgmt: −$754
• Net cashflow: $564

Break-even live

Break-even rent $2,876

Max offer price $189,999

Occupancy floor 79%

Sensitivity live

Price	-10% $671	-5% $618	+0% $564	+5% $510	+10% $456
Rent	-10% $280	-5% $422	+0% $564	+5% $706	+10% $847
Rate	-1.0pp $659	-0.5pp $612	base $564	+0.5pp $515	+1.0pp $464

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $540 · $6,480/yr
• Likely covers: watertrashinternetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $189,999 Active 46 DOM
2. 2026-06-18
   days on market $189,999 Active 43 DOM
3. 2026-06-17
   days on market $189,999 Active 42 DOM
4. 2026-06-16
   days on market $189,999 Active 41 DOM
5. 2026-06-15
   days on market $189,999 Active 40 DOM
6. 2026-06-13
   days on market $189,999 Active 38 DOM
7. 2026-06-09
   days on market $189,999 Active 34 DOM
8. 2026-06-08
   days on market $189,999 Active 33 DOM
9. 2026-06-07
   days on market $189,999 Active 32 DOM
10. 2026-06-04
    pricedays on market $189,999 Active 29 DOM
11. 2026-06-03
    days on market $194,999 Active 28 DOM
12. 2026-06-02
    days on market $194,999 Active 27 DOM
13. 2026-06-01
    days on market $194,999 Active 26 DOM
14. 2026-05-31
    days on market $194,999 Active 25 DOM
15. 2026-05-06
    listed $194,999 Active
16. 2025-11-08
    historical
17. 2025-09-30
    price $199,999
18. 2025-09-18
    price $204,999
19. 2025-09-01
    listed $209,999 Active
20. 2022-01-21
    soldstatus $150,000
21. 2022-01-18
    soldstatus $150,000 Closed 563-char remark

    Show marketing remark (563 chars)

    Own a fully renovated, cozy, and bright unit with marble floor throughout, a large beautiful kitchen with granite counter, screened balcony with shutters, and beautiful channel view. Amenities include heated pool, club house, billiard and game room. Association includes water, trash removal, cable and internet. This complex is inside a gate community in Easter Shore. It is 1.5 miles to the beach, walking distance to shopping centers, restaurants, and cinema. Also very close to Sunny Isles, Aventura Mall, Aventura Hospital, and highway access. 55+ COMMUNITY.

22. 2021-12-14
    status Pending 563-char remark

    Show marketing remark (563 chars)

    Own a fully renovated, cozy, and bright unit with marble floor throughout, a large beautiful kitchen with granite counter, screened balcony with shutters, and beautiful channel view. Amenities include heated pool, club house, billiard and game room. Association includes water, trash removal, cable and internet. This complex is inside a gate community in Easter Shore. It is 1.5 miles to the beach, walking distance to shopping centers, restaurants, and cinema. Also very close to Sunny Isles, Aventura Mall, Aventura Hospital, and highway access. 55+ COMMUNITY.

23. 2021-06-22
    listed $169,000 Active 563-char remark

    Show marketing remark (563 chars)

    Own a fully renovated, cozy, and bright unit with marble floor throughout, a large beautiful kitchen with granite counter, screened balcony with shutters, and beautiful channel view. Amenities include heated pool, club house, billiard and game room. Association includes water, trash removal, cable and internet. This complex is inside a gate community in Easter Shore. It is 1.5 miles to the beach, walking distance to shopping centers, restaurants, and cinema. Also very close to Sunny Isles, Aventura Mall, Aventura Hospital, and highway access. 55+ COMMUNITY.

24. 2020-10-07
    historical
25. 2020-09-09
    status Pending
26. 2020-03-20
    listed $135,000 Active
27. 2005-05-04
    soldstatus $130,000

ⓘ 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: $2,757 · $230/mo
• Projected year-2 tax: $2,757 · $230/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: $43,072
• − Mortgage interest: −$10,643
• − Property taxes: −$2,757
• − Insurance: −$6,068
• − Repairs & maintenance: −$3,446
• − Management: −$3,446
• − HOA: −$6,480
• − Depreciation: −$5,527
• Taxable income: $4,705
• Est. tax owed @ 24.0%: −$1,129
• After-tax cash flow: $5,636/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
• 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

+50.0% since first listed

13 events — show timeline

• 2026-05-06 Listed $194,999 MARMLS
• 2025-11-08 Listing Removed — MARMLS
• 2025-09-30 Price Changed $199,999 MARMLS
• 2025-09-18 Price Changed $204,999 MARMLS
• 2025-09-01 Listed $209,999 MARMLS
• 2022-01-21 Sold (Public Records) $150,000 Public Records
• 2022-01-18 Sold (MLS) $150,000 MARMLS
• 2021-12-14 Pending — MARMLS
• 2021-06-22 Listed $169,000 MARMLS
• 2020-10-07 Listing Removed — MARMLS
• 2020-09-09 Pending — MARMLS
• 2020-03-20 Listed $135,000 MARMLS
• 2005-05-04 Sold (Public Records) $130,000 Public Records

Property tax history

+12.4%/yr

Latest (2025): $2,757 · +5.5% YoY. Source: county tax records.