16465 NE 22nd Ave #116 · North Miami Beach, FL 33160

$149,500

1 bd · 1.0 ba · 658 sqft · Condo public records · 200 Days on market

Built 1971 $555/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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

1 BED 1 BATH GROUND FLOOR CONDO, TILE FLOORS, PASS THRU WINDOW FROM THE KITCHEN, SCREENED BALCONY AT TALL TREES CONDO IN NORT MIAMI BCH, CLOSE TO EVERYTHING. THIS PROPERTY IS APPROVED FOR HOMEPATH & HOMEPATH RENOVATION MORTGAGE FINANCING FOR AS LITTLE AS THREE PERCENT DOWN

Key facts

• Well-appointed bath
• Private balcony
• Open living area

Tags

• OPEN LIVING AREA
• RECENTLY REFRESHED KITCHEN
• PRIVATE BALCONY
• WELL-APPOINTED BATH

Property features AI

Finance

• Other: Waterfront property on a canal
• Financial info: Pets allowed with restrictions or possible restrictions
• HOA & community: Monthly association fee; Association fee covers management, common areas, insurance, laundry, grounds maintenance, structure maintenance, reserve fund, trash, and water; Building amenities include elevator(s) and laundry

Exterior

• Parking: Assigned parking (one space); Guest parking available
• Security: Key card entry; Secured lobby
• Utilities: Water service included in association (see HOA details); Sewer and electric available
• Home design: Condo/Apartment with property attached; Single-story unit within a 6-story building; Entry level: 1
• Construction: Block construction
• Exterior features: Balcony (open)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Primary bedroom located on the main/entry level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Drapes on windows; Breakfast bar; Living/dining room; Walk-in closet(s); First-floor entry; Main level primary bedroom; Bedroom on main level; Main living area on entry level
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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 flat; 1870 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,064/mo this rent would consume 55% 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 $2k of equity ($1k loan paydown + $788 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.
• At projected returns (0.5% appreciation + 0.9% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $150k implies a 248% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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: 2.05% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.95%
• DSCR: 2.02
• GRM: 4.1

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: 8.8%
• Equity multiple: 1.42×
• Total profit: $17,629
• Equity at exit: $47,391

10-year hold

• IRR: 10.9%
• Equity multiple: 2.15×
• Total profit: $48,171
• Equity at exit: $60,248

Cash invested: $41,860 (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: 1870
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $3,064 medium
• Mortgage (P&I): −$784
• Tax from tax record: −$219 /mo · $2,623/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$555
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $374

Break-even live

Break-even rent $2,590

Max offer price $149,500

Occupancy floor 83%

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $555 · $6,660/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-13
   statusdays on market $149,500 Pending 200 DOM
2. 2026-06-09
   days on market $149,500 Active 199 DOM
3. 2026-06-08
   days on market $149,500 Active 198 DOM
4. 2026-06-08
   days on market $149,500 Active 197 DOM
5. 2026-06-04
   days on market $149,500 Active 194 DOM
6. 2026-06-03
   days on market $149,500 Active 193 DOM
7. 2026-06-02
   days on market $149,500 Active 192 DOM
8. 2026-06-01
   days on market $149,500 Active 191 DOM
9. 2026-05-31
   days on market $149,500 Active 190 DOM
10. 2026-05-07
    price $154,500
11. 2026-03-18
    price $157,000
12. 2026-02-12
    status Active
13. 2026-02-12
    price $162,000
14. 2026-01-27
    status Pending
15. 2025-11-05
    listed $164,700 Active
16. 2010-12-28
    soldstatus $43,000 279-char remark

    Show marketing remark (279 chars)

    1 BED 1 BATH GROUND FLOOR CONDO, TILE FLOORS, PASS THRU WINDOW FROM THE KITCHEN, SCREENED BALCONY AT TALL TREES CONDO IN NORT MIAMI BCH, CLOSE TO EVERYTHING. THIS PROPERTY IS APPROVED FOR HOMEPATH & HOMEPATH RENOVATION MORTGAGE FINANCING FOR AS LITTLE AS THREE PERCENT DOWN

17. 2010-11-29
    listed $44,900 279-char remark

    Show marketing remark (279 chars)

    1 BED 1 BATH GROUND FLOOR CONDO, TILE FLOORS, PASS THRU WINDOW FROM THE KITCHEN, SCREENED BALCONY AT TALL TREES CONDO IN NORT MIAMI BCH, CLOSE TO EVERYTHING. THIS PROPERTY IS APPROVED FOR HOMEPATH & HOMEPATH RENOVATION MORTGAGE FINANCING FOR AS LITTLE AS THREE PERCENT DOWN

18. 2006-07-27
    soldstatus $120,000
19. 2005-03-07
    soldstatus $60,000
20. 1994-09-28
    soldstatus $22,000
21. 1986-07-01
    soldstatus $15,800

ⓘ 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: $2,623 · $219/mo
• Projected year-2 tax: $2,623 · $219/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 7/10 Severe FEMA zone AE · 82% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 28 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: $36,765
• − Mortgage interest: −$8,374
• − Property taxes: −$2,623
• − Insurance: −$5,866
• − Repairs & maintenance: −$2,941
• − Management: −$2,941
• − HOA: −$6,660
• − Depreciation: −$4,349
• Taxable income: $3,010
• Est. tax owed @ 24.0%: −$722
• After-tax cash flow: $3,765/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): 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

+877.8% since first listed

12 events — show timeline

• 2026-05-07 Price Changed $154,500 MARMLS
• 2026-03-18 Price Changed $157,000 MARMLS
• 2026-02-12 Relisted — MARMLS
• 2026-02-12 Price Changed $162,000 MARMLS
• 2026-01-27 Pending — MARMLS
• 2025-11-05 Listed $164,700 MARMLS
• 2010-12-28 Sold (MLS) $43,000 Beaches MLS
• 2010-11-29 Listed $44,900 Beaches MLS
• 2006-07-27 Sold (Public Records) $120,000 Public Records
• 2005-03-07 Sold (Public Records) $60,000 Public Records
• 1994-09-28 Sold (Public Records) $22,000 Public Records
• 1986-07-01 Sold (Public Records) $15,800 Public Records

Property tax history

+8.2%/yr

Latest (2025): $2,623 · +2.4% YoY. Source: county tax records.