500 Bayview Dr #117 · Sunny Isles Beach, FL 33160

$229,999

1 bd · 1.0 ba · 598 sqft · Condo public records · 222 Days on market

Built 1969 $898/mo HOA · 25% 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 +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Appreciation +5.3/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

COME & SEE THIS GREAT OPPORTUNITY IN DESIRED SUNNY ISLES BEACH!!! THIS STUDIO AND 1 BATH CONDO IS IN A FULL SERVICE BLDG WITH RESTUARANT, GYM, POOL, 24 HOUR SECURITY, VALET PARKING, COURTESY BUS AND YOU CAN WALK TO THE BEACH!!

Key facts

• Water views
• 24-hour security
• Resort-style pool

Tags

• FIRST-FLOOR STUDIO
• WATER VIEWS
• ASSIGNED PARKING SPACE
• FULL-SERVICE COMMUNITY
• 24-HOUR SECURITY
• RESORT-STYLE POOL

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association amenities include boat dock, marina, bike storage, clubhouse, fitness center, laundry, library, barbecue/picnic area, pool, spa/hot tub, storage, elevators; Association fee covers amenities, common areas, cable TV, internet, laundry, grounds maintenance, structure maintenance, parking, pool(s), roof, sewer, and security

Exterior

• Parking: One assigned parking space
• Security: Complex fenced; Lobby secured; Phone entry; Security guard
• Utilities: Intracoastal and ocean access (waterfront); Association pool
• Home design: Attached property; Entry level: 1; Has a view
• Construction: Block construction; 22 total stories; Effective year built
• Exterior features: Balcony (open)

Interior

• Kitchen: Dishwasher; Electric range; Self-cleaning oven; Microwave; Refrigerator; Disposal
• Bedrooms: Bedroom located on the main level
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Laminate flooring
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $-35 ($-426/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (2.7% below list).
• Meets the 1% rule at list price ($4k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 0.8% in Sunny Isles 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 86/100 on livability (#20 in FL, #434 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, health & safety A+; Watch: housing C-, 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 flat; 1878 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,543/mo this rent would consume 63% 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 $3k of equity ($2k 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.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 222 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $68k; list at $230k implies a 238% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 25% of rent.
• 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 $202,399 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 222 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
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: 1.54% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• GRM: 5.4

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: -3.1%
• Equity multiple: 0.85×
• Total profit: $-9,609
• Equity at exit: $72,908

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $542
• Equity at exit: $92,688

Cash invested: $64,400 (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: 1878
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,543 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$208 /mo · $2,494/yr
• Insurance: −$96
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$898
• Vacancy / Maint / Mgmt: −$744
• Net cashflow: $-35

Break-even live

Break-even rent $3,588

Max offer price $223,730

Occupancy floor 96%

Sensitivity live

Price	-10% $95	-5% $30	+0% $-35	+5% $-101	+10% $-166
Rent	-10% $-315	-5% $-175	+0% $-35	+5% $104	+10% $244
Rate	-1.0pp $80	-0.5pp $23	base $-35	+0.5pp $-95	+1.0pp $-156

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $898 · $10,776/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $229,999 Active 222 DOM
2. 2026-06-18
   days on market $229,999 Active 219 DOM
3. 2026-06-17
   days on market $229,999 Active 218 DOM
4. 2026-06-16
   days on market $229,999 Active 217 DOM
5. 2026-06-15
   days on market $229,999 Active 216 DOM
6. 2026-06-13
   days on market $229,999 Active 214 DOM
7. 2026-06-09
   days on market $229,999 Active 210 DOM
8. 2026-06-08
   days on market $229,999 Active 209 DOM
9. 2026-06-08
   days on market $229,999 Active 208 DOM
10. 2026-06-04
    days on market $229,999 Active 205 DOM
11. 2026-06-03
    days on market $229,999 Active 204 DOM
12. 2026-06-02
    days on market $229,999 Active 203 DOM
13. 2026-06-01
    days on market $229,999 Active 202 DOM
14. 2026-05-31
    days on market $229,999 Active 201 DOM
15. 2025-11-11
    listed $229,999 Active
16. 2011-04-04
    soldstatus $68,000 230-char remark

    Show marketing remark (230 chars)

    COME & SEE THIS GREAT OPPORTUNITY IN DESIRED SUNNY ISLES BEACH!!! THIS STUDIO AND 1 BATH CONDO IS IN A FULL SERVICE BLDG WITH RESTUARANT, GYM, POOL, 24 HOUR SECURITY, VALET PARKING, COURTESY BUS AND YOU CAN WALK TO THE BEACH!!

17. 2011-02-17
    listed $75,000 230-char remark

    Show marketing remark (230 chars)

    COME & SEE THIS GREAT OPPORTUNITY IN DESIRED SUNNY ISLES BEACH!!! THIS STUDIO AND 1 BATH CONDO IS IN A FULL SERVICE BLDG WITH RESTUARANT, GYM, POOL, 24 HOUR SECURITY, VALET PARKING, COURTESY BUS AND YOU CAN WALK TO THE BEACH!!

18. 2010-08-27
    soldstatus $60,000 286-char remark

    Show marketing remark (286 chars)

    ORIGINAL CONDITION UNIT, GOOD LOCATION. WALK TO BEACH, GREAT AMENITIES * * SHORT SALE * * * GROSS COMMISSION ESTABLISHED IN LISTING CONTRACTS ARE SUBJECT TO COURT/LENDERS APPROVAL & COMPENSATION PAYABLE TO COOPERATING BROKERS MAY BE REDUCED IF REDUCED BY COURT/LEN DER * * *

19. 2009-10-14
    historical
20. 2009-01-24
    listed $99,900
21. 2003-04-08
    soldstatus $103,000
22. 2001-07-26
    soldstatus $65,900
23. 1997-02-26
    soldstatus $35,000

ⓘ 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: $2,494 · $208/mo
• Projected year-2 tax: $2,494 · $208/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: $42,515
• − Mortgage interest: −$12,884
• − Property taxes: −$2,494
• − Insurance: −$6,268
• − Repairs & maintenance: −$3,401
• − Management: −$3,401
• − HOA: −$10,776
• − Depreciation: −$6,691
• Taxable loss: −$3,401
• Est. tax savings @ 24.0%: +$816
• After-tax cash flow: $390/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 — Sunny Isles Beach

• Score: 86/100
• State rank: #20
• US rank: #434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunny Isles Beach, FL
• County: Miami-Dade County · 2,697,751 people
• 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

+557.1% since first listed

9 events — show timeline

• 2025-11-11 Listed $229,999 MARMLS
• 2011-04-04 Sold (MLS) $68,000 Beaches MLS
• 2011-02-17 Listed $75,000 Beaches MLS
• 2010-08-27 Sold (MLS) $60,000 MARMLS
• 2009-10-14 Listing Removed — Beaches MLS
• 2009-01-24 Listed $99,900 Beaches MLS
• 2003-04-08 Sold (Public Records) $103,000 Public Records
• 2001-07-26 Sold (Public Records) $65,900 Public Records
• 1997-02-26 Sold (Public Records) $35,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $2,494 · +9.3% YoY. Source: county tax records.