3756 NE 167th St

North Miami Beach, FL 33160

$649,000D-

2 bd · 2.5 ba · 1,486 sqft · Built 1973 · SingleFamily · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,205/mo
• Mortgage (P&I): −$3,403
• Tax + insurance: −$1,508
• HOA: −$900
• Vac / Maint / Mgmt: −$883
• Net cashflow: $-2,490/mo
• Annual: $-29,879/yr
• Cap rate: 2.48%
• Cash-on-cash: -13.63%
• DSCR: 0.39
• 1% rule: 0.65%
• Cash to close: $181,720

Investor read

• This is a 2-bed/2.5-bath single-family listed at $649k. Condition is rated excellent.
• At list price, monthly cash flow is $-2k ($-30k/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (55.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $420k (35.2% below list).
• It's been on market 43 days — a 3% lower offer ($630k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $289k (55.5% below list) — sets the bar for cash-flow.
• In year one you build about $8k of equity ($4k loan paydown + $3k appreciation (0.5% local appreciation)).
• 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: Ojus Elementary School (math 56% / reading 59%, grade C+, #764 of 2,144 statewide, top 36%, 776 students, 63% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Alonzo & Tracy Mourning Senior High School (math 38% / reading 50%, grade F, #244 of 667 statewide, top 37%, 1,597 students, 48% FRL).
• Watch-outs: flood insurance adds $427/mo; HOA is 21% of rent.
• Market conditions: Rents flat; 2152 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 12y ago; this cycle's ask is 18% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $310k; list at $649k implies a 109% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 2.5% vs local median 3.8% in North Miami Beach — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• 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?
• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 56% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?