16909 N Bay Rd · Sunny Isles Beach, FL 33160

$350,000

1 bd · 2.0 ba · 767 sqft · Condo · 2 Days on market

Built 1979

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Why this score? — see what drove the D+ 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 +12.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Appreciation +5.3/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• DSCR +3.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Great LOCATION!! Full FURNISHED CONDO in the heart of SUNNY ISLES BEACHES! ONLY MINUTES WALKING TO BEACH, MALLS, MARSHALL& apos; S, CVS, STARBUSKS, PUBLIX, RESTAURANTS and much more. 24-hr SECURITY, FREE COVERED PARKING. cable, internet-WIFI, and more. AMENITIES includes: HUGE POOL, and hot tub SPA, Grill area and Tennis courts, Gym. There is a 1 double bed in the bedroom and walking closet, in the living room - 1 sleeping sofa, 1 sofa and 1 armchair; (a dishwasher, a microwave oven, a refrigerator are in the kitchen) 1 full bathroom and 1 half bathroom; a stunning view from the window. New air conditioner, new dehumidifier, robot vacuum cleaner. A shared washing machine is located on t

Key facts

• Free covered parking
• Hot tub spa
• Full furnished condo

Tags

• FULL FURNISHED CONDO
• MINUTES WALKING TO BEACH
• 24-HR SECURITY
• FREE COVERED PARKING
• HUGE POOL
• HOT TUB SPA

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $-459 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 6.2% vs local median 0.8% in Sunny Isles 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 86/100 on livability (#20 in FL, #434 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, health & safety A+; Watch: housing C-, cost of living 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 $3,779/mo this rent would consume 68% 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 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.

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 $350,000

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 1979 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.08% ✓
• Cap rate: 6.18%
• Cash-on-cash: -0.39%
• DSCR: 0.98
• GRM: 7.7

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: -8.0%
• Equity multiple: 0.62×
• Total profit: $-37,681
• Equity at exit: $110,948

10-year hold

• IRR: -3.9%
• Equity multiple: 0.57×
• Total profit: $-41,817
• Equity at exit: $141,048

Cash invested: $98,000 (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 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1878
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,779 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 6 same-building comps: −$599
• Vacancy / Maint / Mgmt: −$794
• Net cashflow: $-459

Break-even live

Break-even rent $4,360

Max offer price $283,630

Occupancy floor —

Sensitivity live

Price	-10% $-217	-5% $-338	+0% $-459	+5% $-580	+10% $-701
Rent	-10% $-757	-5% $-608	+0% $-459	+5% $-309	+10% $-160
Rate	-1.0pp $-282	-0.5pp $-370	base $-459	+0.5pp $-549	+1.0pp $-642

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: internetcablepoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-18
   days on market $350,000 Active 2 DOM
2. 2026-06-17
   remarks 695-char remark
3. 2026-06-17
   listed $350,000 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 · 74% 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: $45,352
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$6,868
• − Repairs & maintenance: −$3,628
• − Management: −$3,628
• − HOA: −$7,188
• − Depreciation: −$10,182
• Taxable loss: −$10,998
• Est. tax savings @ 24.0%: +$2,640
• After-tax cash flow: $-2,864/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 — Sunny Isles Beach

• Score: 86/100
• State rank: #20
• US rank: #434

Category grades

Amenities A+ Commute A- Cost of living F Crime A Employment C Housing C- Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunny Isles 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

+17400.0% since first listed

27 events — show timeline

• 2026-06-17 Listed $350,000 FSBO.com
• 2026-05-25 Rental Removed $3,290 SHOWMOJO
• 2026-05-25 Rental Removed $3,290 SHOWMOJO
• 2026-05-13 Listing Removed — MARMLS
• 2026-05-01 Listed $330,000 MARMLS
• 2026-04-23 Rental Removed $3,290 VLS
• 2026-04-20 Listed for Rent $3,290 SHOWMOJO
• 2026-04-05 Listed for Rent $3,290 VLS
• 2026-04-04 Rental Removed $3,290 SHOWMOJO
• 2026-03-30 Listed for Rent $3,290 SHOWMOJO
• 2026-03-29 Rental Removed $3,290 VLS
• 2026-03-26 Listed for Rent $3,290 VLS
• 2026-03-26 Rental Removed $3,100 SHOWMOJO
• 2026-03-14 Listed for Rent $3,100 SHOWMOJO
• 2026-03-14 Listed for Rent $1,875 SHOWMOJO
• 2025-11-21 Rental Removed $2,000 LISTANZA
• 2025-11-21 Rental Removed $2,000 LISTANZA
• 2025-10-24 Listed for Rent $2,000 LISTANZA
• 2025-10-24 Listed for Rent $2,550 LISTANZA
• 2025-10-04 Rental Removed $2,600 LISTANZA
• 2025-09-07 Listed for Rent $2,600 LISTANZA
• 2025-05-25 Rental Removed $2,000 SHOWMOJO
• 2025-05-05 Listed for Rent $2,000 SHOWMOJO
• 2025-05-05 Rental Removed $2,000 SHOWMOJO2
• 2025-05-01 Rental Removed $2,000 SHOWMOJO
• 2025-05-01 Listed for Rent $2,000 SHOWMOJO2
• 2025-04-23 Listed for Rent $2,000 SHOWMOJO