1020 94th St #302 · Bay Harbor Islands, FL 33154

$320,000

1 bd · 1.5 ba · 903 sqft · Condo public records · 60 Days on market

Built 1968 $751/mo HOA · 18% 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 +22.6/30.0
• 1% rule +8.3/10.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0

Listing remarks MLS

RARE TO FIND (Click on Virtual Showings)- SPACIOUS UNIT. Large 1 BDR (903 SF FT | 85 mtrs)| 1 FULL Bath + ½ Bath | 2 Walk-in Closets | 1 Assigned Parking | Extra Storage 5x5| Elevator | 12 exclusive residences| Gated Pool | Party room| Bay Harbour Islands is a BEAUTIFUL hidden gem tucked behind Surfside and Bal Harbor Village, that is undergoing a major redevelopment | Known worldwide for family atmosphere | Steps away (around 0.6 mile) to sandy beaches, famous Bal Harbor Shops, Restaurants, House of Worship, Gym, Post Office, supermarket, excellent “A+” public school & + | Yearly rentals allowed immediately | NO SHORT TERMS.

Key facts

• Lots of closet space
• Sunset views
• New impact windows

Tags

• THIRD FLOOR APARTMENT
• BOUTIQUE SMALL BUILDING
• UPDATED AND MOVE-IN READY
• SUNSET VIEWS
• LOTS OF CLOSET SPACE
• NEW IMPACT WINDOWS

Property features AI

Finance

• Other: Association-managed pool
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee covers amenities, common areas, structure insurance, sewer and water, and maintenance; Association amenities include laundry, pool, and elevator(s)

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Intercom
• Utilities: Water included in association fee; Sewer included in association fee; Electric and other utilities available
• Home design: Condominium (attached property); 5-story building; Entry on level 3
• Construction: Block construction; Resale property
• Exterior features: No exterior features listed; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Elevator; First floor entry; Bedroom on main level
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $310k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 86/100 on livability (#13 in FL, #362 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities F, 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 soft (-1.3%/yr); 522 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,246/mo this rent would consume 57% of the median local household income ($90k/yr) (locally 774% 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 $22k of equity ($2k loan paydown + $20k appreciation (6.1% 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 (6.1% appreciation + 0.0% rent growth), your $90k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $230k; 39% 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $310,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1968 — 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. 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: 1.33% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.32%
• DSCR: 1.33
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.12% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 2.01×
• Total profit: $90,641
• Equity at exit: $203,679

10-year hold

• IRR: 14.0%
• Equity multiple: 3.67×
• Total profit: $239,075
• Equity at exit: $371,552

Cash invested: $89,600 (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 33154

• Home prices YoY: 1.4%
• Rents YoY: -1.3%
• Active inventory: 522
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $4,246 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$245 /mo · $2,945/yr
• Insurance: −$133
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$751
• Vacancy / Maint / Mgmt: −$892
• Net cashflow: $120

Break-even live

Break-even rent $4,094

Max offer price $320,000

Occupancy floor 92%

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $751 · $9,012/yr
• Likely covers: poolgymsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-25
   historical
2. 2026-03-25
   listed $320,000 Active
3. 2022-01-06
   soldstatus $230,000
4. 2021-12-29
   soldstatus $230,000 Closed 658-char remark

   Show marketing remark (658 chars)

   RARE TO FIND (Click on Virtual Showings)- SPACIOUS UNIT. Large 1 BDR (903 SF FT | 85 mtrs)| 1 FULL Bath + ½ Bath | 2 Walk-in Closets | 1 Assigned Parking | Extra Storage 5x5| Elevator | 12 exclusive residences| Gated Pool | Party room| Bay Harbour Islands is a BEAUTIFUL hidden gem tucked behind Surfside and Bal Harbor Village, that is undergoing a major redevelopment | Known worldwide for family atmosphere | Steps away (around 0.6 mile) to sandy beaches, famous Bal Harbor Shops, Restaurants, House of Worship, Gym, Post Office, supermarket, excellent “A+” public school & + | Yearly rentals allowed immediately | NO SHORT TERMS.

5. 2021-11-10
   status Pending 658-char remark

   Show marketing remark (658 chars)

   RARE TO FIND (Click on Virtual Showings)- SPACIOUS UNIT. Large 1 BDR (903 SF FT | 85 mtrs)| 1 FULL Bath + ½ Bath | 2 Walk-in Closets | 1 Assigned Parking | Extra Storage 5x5| Elevator | 12 exclusive residences| Gated Pool | Party room| Bay Harbour Islands is a BEAUTIFUL hidden gem tucked behind Surfside and Bal Harbor Village, that is undergoing a major redevelopment | Known worldwide for family atmosphere | Steps away (around 0.6 mile) to sandy beaches, famous Bal Harbor Shops, Restaurants, House of Worship, Gym, Post Office, supermarket, excellent “A+” public school & + | Yearly rentals allowed immediately | NO SHORT TERMS.

6. 2021-08-20
   listed $235,000 Active 658-char remark

   Show marketing remark (658 chars)

   RARE TO FIND (Click on Virtual Showings)- SPACIOUS UNIT. Large 1 BDR (903 SF FT | 85 mtrs)| 1 FULL Bath + ½ Bath | 2 Walk-in Closets | 1 Assigned Parking | Extra Storage 5x5| Elevator | 12 exclusive residences| Gated Pool | Party room| Bay Harbour Islands is a BEAUTIFUL hidden gem tucked behind Surfside and Bal Harbor Village, that is undergoing a major redevelopment | Known worldwide for family atmosphere | Steps away (around 0.6 mile) to sandy beaches, famous Bal Harbor Shops, Restaurants, House of Worship, Gym, Post Office, supermarket, excellent “A+” public school & + | Yearly rentals allowed immediately | NO SHORT TERMS.

7. 2003-08-23
   soldstatus $123,000
8. 1989-01-01
   soldstatus $38,000
9. 1982-10-01
   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: $2,945 · $245/mo
• Projected year-2 tax: $2,945 · $245/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 · 29 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: $50,952
• − Mortgage interest: −$17,925
• − Property taxes: −$2,945
• − Insurance: −$6,718
• − Repairs & maintenance: −$4,076
• − Management: −$4,076
• − HOA: −$9,012
• − Depreciation: −$9,309
• Taxable loss: −$3,110
• Est. tax savings @ 24.0%: +$746
• After-tax cash flow: $2,185/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 — Bay Harbor Islands

• Score: 86/100
• State rank: #13
• US rank: #362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay Harbor Islands, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 14,435
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,572
• Household income: $89,563
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 774.0

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: Majority White (53%)
• Race & ethnicity: White 53% Hispanic / Latino 41% Two or more races 25% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 12% Salvadoran 2%
• Common ancestry: Scotch-Irish 7% Romanian 5% Lithuanian 4%
• Foreign-born: 46% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 41% French/Haitian/Cajun 7% 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: ▲ 6.12%
• Current HPI: 454.1747
• Rent YoY: ▼ -1.30%
• 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

+680.5% since first listed

9 events — show timeline

• 2026-05-25 Listing Removed — MARMLS
• 2026-03-25 Listed $320,000 MARMLS
• 2022-01-06 Sold (Public Records) $230,000 Public Records
• 2021-12-29 Sold (MLS) $230,000 MARMLS
• 2021-11-10 Pending — MARMLS
• 2021-08-20 Listed $235,000 MARMLS
• 2003-08-23 Sold (Public Records) $123,000 Public Records
• 1989-01-01 Sold (Public Records) $38,000 Public Records
• 1982-10-01 Sold (Public Records) $41,000 Public Records

Property tax history

+11.5%/yr

Latest (2025): $2,945 · +4.8% YoY. Source: county tax records.