16950 W Dixie Hwy A232 Hwy #232 · North Miami Beach, FL 33160

$140,000

1 bd · 1.0 ba · 720 sqft · Condo · 61 Days on market

Built 1973 Good condition Garage $194/sqft · 6% below area Est $149k · 6% under $501/mo HOA · 20% 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
• ARV discount +10.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.3/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.7/5.0

Listing remarks

Beautiful 1 bed/1bath apartment in North Miami Beach across the street from the Monastery, minutes from Aventura Mall and beaches. Prime location with quick access to I-95 and 826 easy commuting. Unit shows very nice , no work needed.

Key facts

• $501 HOA
• Garage
• Built 1973

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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).
• At $2,556/mo this rent would consume 46% of the median local household income ($67k/yr) (locally 17% 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 ($968 loan paydown + $738 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 61 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

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 $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.83% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.87%
• DSCR: 1.75
• GRM: 4.6

CMA / ARV

• ARV (median comp): $149,404
• List price: $140,000
• Delta: -6.29%
• Verdict: FAIR
• 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	0.03mi	1/1.0	720 (0%)	0mo	$134,500	$187	98
2025 NE 164th St #1015	0.37mi	1/1.5	790 (+10%)	0mo	$110,000	$139	64
3010 Marcos Dr Unit R111	0.95mi	1/1.0	768 (+7%)	2mo	$120,000	$156	52
2841 NE 163rd St #1211	0.83mi	1/1.5	790 (+10%)	0mo	$230,000	$291	47
2841 NE 163 St #102	0.83mi	1/1.5	785 (+9%)	4mo	$169,000	$215	44
3551 NE 169th St #105	1.20mi	1/1.0	812 (+13%)	0mo	$199,999	$246	44
3600 NE 170th St #404	1.25mi	1/1.5	812 (+13%)	0mo	$180,000	$222	42
1735 NE 164th St Unit A-302	0.68mi	1/1.0	557 (-23%)	5mo	$150,000	$269	39
1554 NE 154th Ter	1.25mi	2/1.0 (+1)	812 (+13%)	2mo	$329,000	$405	37
3849 NE 169th St #302	1.40mi	1/1.5	812 (+13%)	6mo	$300,000	$369	37
3703 NE 166th St #1009	1.27mi	1/1.5	898 (+25%)	6mo	$192,000	$214	33
15770 NE 18th Ct	0.85mi	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: 1.5%
• Equity multiple: 1.07×
• Total profit: $2,748
• Equity at exit: $44,379

10-year hold

• IRR: 4.1%
• Equity multiple: 1.43×
• Total profit: $17,043
• Equity at exit: $56,419

Cash invested: $39,200 (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 →

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: 4.6×

Monthly cashflow live

• Estimated rent: $2,556 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$501
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $124

Break-even live

Break-even rent $2,399

Max offer price $140,000

Occupancy floor 90%

Sensitivity live

Price	-10% $221	-5% $173	+0% $124	+5% $76	+10% $28
Rent	-10% $-78	-5% $23	+0% $124	+5% $225	+10% $326
Rate	-1.0pp $195	-0.5pp $160	base $124	+0.5pp $88	+1.0pp $51

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: $35,000
• Closing costs: $4,200
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Financial info: Lease consideredNo pets allowed
• HOA & community: Monthly association fee of $501Association covers laundry, pest control, reserve fund, sewer, security and waterCommunity amenities include clubhouse and fitness center

Exterior

• Parking: Detached garage (1 covered space)
• Security: Key card entry
• Utilities: Electric cooling
• Home design: Mid-rise building (6 stories)Resale unitAttached propertyEntry on level 2
• Construction: Block construction
• Exterior features: BalconyOpen balcony/patio

Interior

• Kitchen: Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric cooling
• Interior features: Walk-in closet(s)Bedroom on main level
• Laundry & utility: Common area laundry

HOA detail $501/mo · $6,012/yr condo

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

Listing history 45 events

1. 2026-08-08
   days on market $140,000 Active 61 DOM
2. 2026-08-06
   days on market $140,000 Active 59 DOM
3. 2026-08-05
   days on market $140,000 Active 58 DOM
4. 2026-08-04
   days on market $140,000 Active 57 DOM
5. 2026-08-03
   days on market $140,000 Active 56 DOM
6. 2026-07-31
   days on market $140,000 Active 53 DOM
7. 2026-07-28
   days on market $140,000 Active 50 DOM
8. 2026-07-26
   days on market $140,000 Active 48 DOM
9. 2026-07-24
   days on market $140,000 Active 46 DOM
10. 2026-07-23
    days on market $140,000 Active 45 DOM
11. 2026-07-22
    days on market $140,000 Active 44 DOM
12. 2026-07-21
    days on market $140,000 Active 43 DOM
13. 2026-07-20
    days on market $140,000 Active 42 DOM
14. 2026-07-18
    days on market $140,000 Active 40 DOM
15. 2026-07-18
    days on market $140,000 Active 39 DOM
16. 2026-07-16
    days on market $140,000 Active 38 DOM
17. 2026-07-15
    days on market $140,000 Active 37 DOM
18. 2026-07-14
    days on market $140,000 Active 36 DOM
19. 2026-07-13
    days on market $140,000 Active 35 DOM
20. 2026-07-13
    days on market $140,000 Active 34 DOM
21. 2026-07-11
    days on market $140,000 Active 33 DOM
22. 2026-07-10
    days on market $140,000 Active 32 DOM
23. 2026-07-09
    days on market $140,000 Active 31 DOM
24. 2026-07-07
    days on market $140,000 Active 29 DOM
25. 2026-07-06
    days on market $140,000 Active 28 DOM
26. 2026-07-06
    days on market $140,000 Active 27 DOM
27. 2026-07-05
    days on market $140,000 Active 26 DOM
28. 2026-07-03
    days on market $140,000 Active 25 DOM
29. 2026-07-02
    days on market $140,000 Active 24 DOM
30. 2026-07-01
    days on market $140,000 Active 23 DOM
31. 2026-06-30
    days on market $140,000 Active 22 DOM
32. 2026-06-29
    days on market $140,000 Active 21 DOM
33. 2026-06-28
    days on market $140,000 Active 20 DOM
34. 2026-06-27
    days on market $140,000 Active 19 DOM
35. 2026-06-26
    days on market $140,000 Active 18 DOM
36. 2026-06-24
    days on market $140,000 Active 16 DOM
37. 2026-06-22
    days on market $140,000 Active 14 DOM
38. 2026-06-21
    days on market $140,000 Active 13 DOM
39. 2026-06-18
    days on market $140,000 Active 10 DOM
40. 2026-06-17
    days on market $140,000 Active 9 DOM
41. 2026-06-16
    days on market $140,000 Active 8 DOM
42. 2026-06-15
    days on market $140,000 Active 7 DOM
43. 2026-06-13
    days on market $140,000 Active 5 DOM
44. 2026-06-08
    remarks 235-char remark
45. 2026-06-08
    listed $140,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 90% 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: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$5,818
• − Repairs & maintenance: −$2,454
• − Management: −$2,454
• − HOA: −$6,012
• − Depreciation: −$4,073
• Taxable loss: −$78
• Est. tax savings @ 24.0%: +$19
• After-tax cash flow: $1,512/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 · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $3,600–$10,800 screening

This 1-bedroom/1-bath condo in North Miami Beach is in good condition with minor repairs needed. Upgrades to the interior walls and countertops can significantly enhance its resale value.

Repairs flagged

• Minor Paint touch-ups — The paint appears to be in good condition, but touch-ups may be needed for a fresh look.

Value-add opportunities

• Resale Paint the interior walls — Fresh paint can enhance the appearance and appeal of the home, making it more attractive to potential buyers. ↑
• Resale Replace the kitchen countertops — Upgrading the countertops can add value and appeal to the home, especially for potential buyers who prefer modern finishes. ↑
• Both Upgrade the HVAC system — A new HVAC system can improve comfort and energy efficiency, which can benefit both resale and rental value. ↑

ⓘ 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: 34,147
• 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: Lease consideredNo pets allowed
• HOA & community: Monthly association fee of $501Association covers laundry, pest control, reserve fund, sewer, security and waterCommunity amenities include clubhouse and fitness center

Exterior

• Parking: Detached garage (1 covered space)
• Security: Key card entry
• Utilities: Electric cooling
• Home design: Mid-rise building (6 stories)Resale unitAttached propertyEntry on level 2
• Construction: Block construction
• Exterior features: BalconyOpen balcony/patio

Interior

• Kitchen: Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric cooling
• Interior features: Walk-in closet(s)Bedroom on main level
• Laundry & utility: Common area laundry

Price history

1 event — show timeline

• 2026-06-08 Listed $140,000 MARMLS