3551 NE 169th St Unit 110-A · North Miami Beach, FL 33160

$184,000

1 bd · 1.0 ba · 812 sqft · Condo public records · 8 Days on market

Built 1969

---

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

Great Price!! Don't miss out on this opportunity to own a waterfront property in the beautiful, gated community of Eastern Shores. Convenient first floor condo with water view. Large walk-in closet that could be used as a bedroom or office. Newer A/C. Tile floors. Heated pool, gym, and clubhouse. Only one car allowed. Condo Association states that this is a 55+ community. Building has new roof, concrete restoration completed, recently painted, and new elevators. Building has received the 50-year certification. Only service or emotional support animals allowed.

Key facts

• Gated community
• First floor condo
• Large walk-in closet

Tags

• WATERFRONT PROPERTY
• GATED COMMUNITY
• FIRST FLOOR CONDO
• WATER VIEW
• LARGE WALK-IN CLOSET
• HEATED POOL

Property features AI

Finance

• Financial info: Lease considered; Pets not allowed
• HOA & community: Monthly association fee (includes management, amenities, cable TV, laundry, grounds and structure maintenance, parking, pest control, pool(s), recreation facilities, sewer, trash, water); Association amenities include clubhouse, fitness center, laundry, pool, trash service, and elevators; Senior community; Association fee listed monthly

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Utilities: Cable available; Sewer included in association services; Water included in association services; Trash included in association services; Power available
• Home design: Attached property; 4-story building; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Enclosed porch; Screened porch; Porch; Canal-front waterfront with ocean access and no fixed bridges; Has a view

Interior

• Kitchen: Dishwasher; Electric range; Icemaker; Refrigerator; Electric water heater
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished; Living/dining room; Tub shower; Walk-in closet(s); Bedroom on main level
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $184k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $184k).
• Cap rate 12.3% 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 $3,589/mo this rent would consume 64% 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 + $969 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 $52k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 12y ago; this cycle's ask is 11771% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $130k; 42% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,000

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.95% ✓
• Cap rate: 12.28%
• Cash-on-cash: 21.39%
• DSCR: 1.95
• GRM: 4.3

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: 9.7%
• Equity multiple: 1.47×
• Total profit: $23,970
• Equity at exit: $58,327

10-year hold

• IRR: 11.9%
• Equity multiple: 2.26×
• Total profit: $64,867
• Equity at exit: $74,151

Cash invested: $51,520 (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: 4.3×

Monthly cashflow live

• Estimated rent: $3,589 medium
• Mortgage (P&I): −$965
• Tax from tax record: −$322 /mo · $3,864/yr
• Insurance: −$77
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 2 same-building comps: −$553
• Vacancy / Maint / Mgmt: −$754
• Net cashflow: $492

Break-even live

Break-even rent $2,966

Max offer price $184,000

Occupancy floor 81%

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: $46,000
• Closing costs: $5,520
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 6 events

1. 2026-06-18
   days on market $184,000 Active 8 DOM
2. 2026-06-17
   days on market $184,000 Active 7 DOM
3. 2026-06-16
   days on market $184,000 Active 6 DOM
4. 2026-06-15
   days on market $184,000 Active 5 DOM
5. 2026-06-13
   remarks 566-char remark
6. 2026-06-13
   listed $184,000 Active 3 DOM

ⓘ 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: $3,864 · $322/mo
• Projected year-2 tax: $3,864 · $322/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 · 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: $43,063
• − Mortgage interest: −$10,307
• − Property taxes: −$3,864
• − Insurance: −$6,038
• − Repairs & maintenance: −$3,445
• − Management: −$3,445
• − HOA: −$6,636
• − Depreciation: −$5,353
• Taxable income: $3,974
• Est. tax owed @ 24.0%: −$954
• After-tax cash flow: $4,948/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

-93.8% since first listed

48 events — show timeline

• 2026-06-10 Listed for Rent $1,550 RMLSFL
• 2026-06-10 Listed $184,000 MARMLS
• 2025-06-27 Rental Removed $1,600 MARMLS
• 2025-06-27 Listing Removed — MARMLS
• 2025-04-12 Listed for Rent $1,600 MARMLS
• 2025-04-11 Listed $200,000 MARMLS
• 2025-04-07 Rental Removed $1,600 MARMLS
• 2025-04-07 Listing Removed — MARMLS
• 2025-01-15 Price Changed $200,000 MARMLS
• 2025-01-02 Price Changed $210,000 MARMLS
• 2024-11-13 Price Changed $1,600 MARMLS
• 2024-09-23 Price Changed $226,900 MARMLS
• 2024-08-16 Price Changed $239,000 MARMLS
• 2024-07-03 Price Changed $1,650 MARMLS
• 2024-05-21 Price Changed $239,999 MARMLS
• 2024-05-13 Price Changed $1,700 MARMLS
• 2024-02-27 Price Changed $1,750 MARMLS
• 2024-02-05 Listed for Rent $1,800 MARMLS
• 2023-10-20 Price Changed $250,000 MARMLS
• 2023-09-05 Rental Removed $1,750 MARMLS
• 2023-09-04 Price Changed $1,750 MARMLS
• 2023-09-02 Price Changed $224,500 MARMLS
• 2023-08-30 Price Changed $1,600 MARMLS
• 2023-06-15 Price Changed $227,500 MARMLS
• 2023-06-15 Relisted — MARMLS
• 2023-03-11 Listed $227,000 MARMLS
• 2021-11-29 Sold (Public Records) $130,000 Public Records
• 2021-11-16 Sold (MLS) $130,000 MARMLS
• 2021-09-16 Listed $165,000 MARMLS
• 2021-09-06 Listing Removed — MARMLS
• 2021-08-13 Price Changed $175,000 MARMLS
• 2021-07-12 Price Changed $150,000 MARMLS
• 2021-07-06 Listed $165,500 MARMLS
• 2017-02-13 Listing Removed — MARMLS
• 2016-11-17 Listed $104,900 MARMLS
• 2016-06-20 Listing Removed — MARMLS
• 2015-12-07 Price Changed $119,900 MARMLS
• 2015-12-03 Listed $134,900 MARMLS
• 2015-11-30 Listing Removed — MARMLS
• 2014-10-02 Price Changed $129,999 MARMLS
• 2014-10-01 Listed $142,500 MARMLS
• 2013-09-20 Listing Removed — MARMLS
• 2006-06-30 Sold (Public Records) $165,000 Public Records
• 2006-06-24 Sold (MLS) $165,000 MARMLS
• 2005-11-04 Sold (Public Records) $132,000 Public Records
• 2003-04-29 Sold (Public Records) $70,000 Public Records
• 1997-10-02 Sold (Public Records) $38,500 Public Records
• 1974-04-01 Sold (Public Records) $25,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $3,864 · +9.1% YoY. Source: county tax records.