2025 NE 164th St #616 · North Miami Beach, FL 33162

$240,000

2 bd · 2.0 ba · 1,112 sqft · Condo public records · 44 Days on market

Built 1970 $59/mo HOA · 2% 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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR OPPORTUNITY 2 BED/2 FULL BATH CORNER UNIT with Great Canal views from the 6th Floor in North Miami Beach, close to I95, Biscayne, Aventura, Restaurants, shopping, 2 miles away from the beach and 1 mile away from Oleta Park, etc. Also Great for home buyers. NEW AIR CONDITIONER since MARCH 15th, 5year-Warranty. Please be aware that building is being remodeled to luckily update and make it nice, a plus!!! Amenities include GYM, Party room, Pool.

Key facts

• Central ac
• Tile floors
• New appliances

Tags

• EXCELLENT LOCATION
• FRESHLY RENOVATED
• TILE FLOORS
• TONS OF STORAGE SPACE
• NEW APPLIANCES
• CENTRAL AC

Property features AI

Finance

• Other: Annual tax amount listed (financial details excluded per instructions)
• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Annual association fee; Association amenities include elevator(s) and pool; Association covers amenities, laundry, parking, sewer, and security

Exterior

• Parking: One covered parking space (garage)
• Security: Complex fenced; Security included in association fees
• Utilities: Electric service; Sewer included in association amenities; Water details not listed
• Home design: Attached property; 9-story building; Entry on level 6; Effective year built
• Construction: Block construction
• Exterior features: No additional exterior features listed

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Entry located on level 6
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Complex is fenced; Association pool; Unit has a view
• Laundry & utility: Electric water heater; Laundry included in association amenities

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $878 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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 soft (-1.6%/yr); 286 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,523/mo this rent would consume 70% of the median local household income ($61k/yr) (locally 2509% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• 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 44 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 $155k; list at $240k implies a 55% 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 $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1970 — 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. 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.
9. 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.
10. 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: 1.47% ✓
• Cap rate: 12.81%
• Cash-on-cash: 23.29%
• DSCR: 2.04
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.10×
• Total profit: $6,888
• Equity at exit: $35,785

10-year hold

• IRR: 8.9%
• Equity multiple: 1.58×
• Total profit: $38,910
• Equity at exit: $20,751

Cash invested: $67,200 (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 33162

• Rents YoY: -1.6%
• Active inventory: 286
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $3,523 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$61 /mo · $733/yr
• Insurance: −$100
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$59
• Vacancy / Maint / Mgmt: −$740
• Net cashflow: $878

Break-even live

Break-even rent $2,412

Max offer price $240,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,013	-5% $946	+0% $878	+5% $810	+10% $742
Rent	-10% $599	-5% $738	+0% $878	+5% $1,017	+10% $1,156
Rate	-1.0pp $998	-0.5pp $939	base $878	+0.5pp $815	+1.0pp $752

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $59 · $708/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-21
   days on market $240,000 Active 44 DOM
2. 2026-06-18
   days on market $240,000 Active 41 DOM
3. 2026-06-17
   days on market $240,000 Active 40 DOM
4. 2026-06-16
   days on market $240,000 Active 39 DOM
5. 2026-06-15
   days on market $240,000 Active 38 DOM
6. 2026-06-13
   days on market $240,000 Active 36 DOM
7. 2026-06-09
   days on market $240,000 Active 32 DOM
8. 2026-06-08
   days on market $240,000 Active 31 DOM
9. 2026-06-07
   days on market $240,000 Active 30 DOM
10. 2026-06-04
    days on market $240,000 Active 27 DOM
11. 2026-06-03
    days on market $240,000 Active 26 DOM
12. 2026-06-02
    days on market $240,000 Active 25 DOM
13. 2026-06-01
    days on market $240,000 Active 24 DOM
14. 2026-05-31
    days on market $240,000 Active 23 DOM
15. 2026-05-08
    listed $240,000 Active
16. 2026-03-25
    historical $1,900
17. 2026-03-12
    listed $1,900
18. 2021-05-04
    soldstatus $155,000
19. 2021-04-26
    soldstatus $155,000 Closed 455-char remark

    Show marketing remark (455 chars)

    INVESTOR OPPORTUNITY 2 BED/2 FULL BATH CORNER UNIT with Great Canal views from the 6th Floor in North Miami Beach, close to I95, Biscayne, Aventura, Restaurants, shopping, 2 miles away from the beach and 1 mile away from Oleta Park, etc. Also Great for home buyers. NEW AIR CONDITIONER since MARCH 15th, 5year-Warranty. Please be aware that building is being remodeled to luckily update and make it nice, a plus!!! Amenities include GYM, Party room, Pool.

20. 2021-04-05
    status Pending 455-char remark

    Show marketing remark (455 chars)

    INVESTOR OPPORTUNITY 2 BED/2 FULL BATH CORNER UNIT with Great Canal views from the 6th Floor in North Miami Beach, close to I95, Biscayne, Aventura, Restaurants, shopping, 2 miles away from the beach and 1 mile away from Oleta Park, etc. Also Great for home buyers. NEW AIR CONDITIONER since MARCH 15th, 5year-Warranty. Please be aware that building is being remodeled to luckily update and make it nice, a plus!!! Amenities include GYM, Party room, Pool.

21. 2021-03-19
    listed $159,000 Active 455-char remark

    Show marketing remark (455 chars)

    INVESTOR OPPORTUNITY 2 BED/2 FULL BATH CORNER UNIT with Great Canal views from the 6th Floor in North Miami Beach, close to I95, Biscayne, Aventura, Restaurants, shopping, 2 miles away from the beach and 1 mile away from Oleta Park, etc. Also Great for home buyers. NEW AIR CONDITIONER since MARCH 15th, 5year-Warranty. Please be aware that building is being remodeled to luckily update and make it nice, a plus!!! Amenities include GYM, Party room, Pool.

22. 2021-03-15
    historical
23. 2021-03-02
    listed $159,000 Active
24. 2015-10-16
    soldstatus $95,000
25. 2015-10-12
    soldstatus $95,000 Sold
26. 2015-09-23
    status Pending
27. 2015-08-31
    price $99,000
28. 2015-08-07
    price $99,000
29. 2015-08-07
    price $109,900
30. 2015-05-15
    price $105,900
31. 2015-05-15
    price $112,000
32. 2015-04-27
    price $118,900
33. 2015-03-23
    listed $124,900 Active
34. 2012-12-06
    soldstatus $92,500
35. 2012-11-30
    soldstatus $92,500
36. 2012-10-05
    historical
37. 2012-04-12
    listed $95,000
38. 2003-06-04
    soldstatus $72,000
39. 1998-07-24
    soldstatus $44,000
40. 1989-10-05
    soldstatus $41,000

ⓘ 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: $733 · $61/mo
• Projected year-2 tax: $1,992 · $166/mo
• Expected delta: +$1,259/yr (+$105/mo · 171.7%)

ⓘ 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 · 92% 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: $42,271
• − Mortgage interest: −$13,444
• − Property taxes: −$733
• − Insurance: −$6,319
• − Repairs & maintenance: −$3,382
• − Management: −$3,382
• − HOA: −$708
• − Depreciation: −$6,982
• Taxable income: $7,323
• Est. tax owed @ 24.0%: −$1,757
• After-tax cash flow: $8,774/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
• City population: 90,324
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 46,606
• Household income: $60,692
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 2509.0

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 0.62)
• Race & ethnicity: Black 53% Hispanic / Latino 30% Two or more races 15% White 12% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 3%
• Common ancestry: Hispanic 31% Romanian 1% Scotch-Irish 1%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · French/Haitian/Cajun 35% Spanish 30% Other Indo-European 2%

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: ▼ -445.57%
• Current HPI: 596.6178
• Rent YoY: ▼ -1.59%
• 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

+485.4% since first listed

26 events — show timeline

• 2026-05-08 Listed $240,000 MARMLS
• 2026-03-25 Rental Removed $1,900 MARMLS
• 2026-03-12 Listed for Rent $1,900 MARMLS
• 2021-05-04 Sold (Public Records) $155,000 Public Records
• 2021-04-26 Sold (MLS) $155,000 MARMLS
• 2021-04-05 Pending — MARMLS
• 2021-03-19 Listed $159,000 MARMLS
• 2021-03-15 Listing Removed — MARMLS
• 2021-03-02 Listed $159,000 MARMLS
• 2015-10-16 Sold (Public Records) $95,000 Public Records
• 2015-10-12 Sold (MLS) $95,000 MARMLS
• 2015-09-23 Pending — MARMLS
• 2015-08-31 Price Changed $99,000 MARMLS
• 2015-08-07 Price Changed $109,900 MARMLS
• 2015-08-07 Price Changed $99,000 MARMLS
• 2015-05-15 Price Changed $112,000 MARMLS
• 2015-05-15 Price Changed $105,900 MARMLS
• 2015-04-27 Price Changed $118,900 MARMLS
• 2015-03-23 Listed $124,900 MARMLS
• 2012-12-06 Sold (Public Records) $92,500 Public Records
• 2012-11-30 Sold (MLS) $92,500 Beaches MLS
• 2012-10-05 Listing Removed — Beaches MLS
• 2012-04-12 Listed $95,000 Beaches MLS
• 2003-06-04 Sold (Public Records) $72,000 Public Records
• 1998-07-24 Sold (Public Records) $44,000 Public Records
• 1989-10-05 Sold (Public Records) $41,000 Public Records

Property tax history

-2.4%/yr

Latest (2025): $733 · +3.9% YoY. Source: county tax records.