2903 N Miami Beach Blvd #1006 · North Miami Beach, FL 33160

$199,000

1 bd · 1.5 ba · 792 sqft · Condo · 108 Days on market

Built 1972 $568/mo HOA · 17% of rent ↓ 5% since listing

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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 +29.1/30.0
• 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

Spacious 1-bedroom, 1.5-bath residence with views of the Intracoastal and Oleta River State Park. Functional layout with ceramic tile flooring throughout. Excellent storage including a large walk-in closet plus two additional closets. Major updates include A/C (2023) with 10-year warranty and water heater (2021). Building amenities include a waterfront pool with outdoor bathroom and shower, laundry facility on the same floor, security cameras, and on-site management office. Investors welcome, can lease immediately. Special assessment has been paid in full. Conveniently located near shopping, dining, malls, FIU, and major highways. YouTube video available, search by property address.

Key facts

• Waterfront pool
• Large walk-in closet
• Laundry facility

Tags

• VIEWS OF THE INTRACOASTAL
• CERAMIC TILE FLOORING
• LARGE WALK-IN CLOSET
• WATERFRONT POOL
• OUTDOOR BATHROOM
• LAUNDRY FACILITY

Property features AI

Finance

• Other: Association pool available
• Financial info: Pets allowed with possible restrictions (conditional)
• HOA & community: Monthly association fee of $568; Association fee covers common areas; Association amenities include elevator(s), fitness center, laundry, and pool

Exterior

• Parking: 1 covered parking space; 1-space garage
• Security: Complex is fenced; Key card entry; Phone entry
• Utilities: Water: connected (waterfront present); Sewer: connected; Power: connected
• Home design: Attached property; Entry on level 10; 10-story building; Has a view
• Construction: Block construction; Year built: Unknown
• Exterior features: Fence; Canal-front waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Bedroom on main level; Tile flooring
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $689 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 $3,332/mo this rent would consume 60% 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 + $1k 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 $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Recommended offer $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.67% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• GRM: 5.0

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: 13.6%
• Equity multiple: 1.66×
• Total profit: $36,666
• Equity at exit: $63,082

10-year hold

• IRR: 15.9%
• Equity multiple: 2.71×
• Total profit: $95,266
• Equity at exit: $80,196

Cash invested: $55,720 (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: 5.0×

Monthly cashflow live

• Estimated rent: $3,332 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$568
• Vacancy / Maint / Mgmt: −$700
• Net cashflow: $689

Break-even live

Break-even rent $2,460

Max offer price $199,000

Occupancy floor 74%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $568 · $6,816/yr
• Likely covers: waterpoolsecurity
• ⚠ Special-assessment mentions:

  …facility on the same floor, security cameras, and on-site management office. Investors welcome, can lease immediately. Special assessment has been paid in full. Conveniently located near shopping, dining, malls, FIU, and major highways. YouTube video…

Listing history 19 events

1. 2026-06-18
   days on market $199,000 Active 108 DOM
2. 2026-06-17
   days on market $199,000 Active 107 DOM
3. 2026-06-16
   days on market $199,000 Active 106 DOM
4. 2026-06-15
   days on market $199,000 Active 105 DOM
5. 2026-06-13
   days on market $199,000 Active 103 DOM
6. 2026-06-09
   days on market $199,000 Active 99 DOM
7. 2026-06-08
   days on market $199,000 Active 98 DOM
8. 2026-06-07
   days on market $199,000 Active 97 DOM
9. 2026-06-04
   days on market $199,000 Active 94 DOM
10. 2026-06-03
    days on market $199,000 Active 93 DOM
11. 2026-06-02
    days on market $199,000 Active 92 DOM
12. 2026-06-01
    days on market $199,000 Active 91 DOM
13. 2026-05-31
    days on market $199,000 Active 90 DOM
14. 2026-03-02
    historical
15. 2026-03-02
    listed $199,000 Active
16. 2025-02-07
    historical $1,700
17. 2024-12-26
    listed $1,700
18. 2024-09-23
    price $200,000
19. 2024-09-06
    listed $210,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $39,982
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$3,199
• − Management: −$3,199
• − HOA: −$6,816
• − Depreciation: −$5,789
• Taxable income: $5,852
• Est. tax owed @ 24.0%: −$1,405
• After-tax cash flow: $6,862/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

-5.2% since first listed

6 events — show timeline

• 2026-03-02 Listed $199,000 MARMLS
• 2026-03-02 Listing Removed — MARMLS
• 2025-02-07 Rental Removed $1,700 MARMLS
• 2024-12-26 Listed for Rent $1,700 MARMLS
• 2024-09-23 Price Changed $200,000 MARMLS
• 2024-09-06 Listed $210,000 MARMLS